Thailand's Cabinet has approved a proposed measure and draft royal decree reducing the corporate tax rate for small and medium-sized companies from 20% to 15% on income between THB 1 million and THB 3 million. The reduced rate already applies for income up to THB 1 million, while income up to THB 300,000 is exempt. Income over THB 3 million is taxed at the standard tax rate of 20%
In order to be eligible for the reduced tax rate and exemption, a company's paid up capital must be THB 5 millio…