Thailand's Board of Investment has announced that it is preparing to implement Qualified Refundable Tax Credits (QRTCs) under the Pillar 2 Global Minimum Tax (GMT) framework. QRTCs essentially allow promoted companies to receive cash refunds for unused credits. These credits are treated as income rather than as a reduction of covered taxes and, therefore, they do not negatively impact the Pillar 2 effective tax rate.
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Thailand Board of Investment Prepares to Introduce OECD's QRTC; Revi…