Cabinet approves new top-up tax rules

The cabinet has approved in principle a set of decrees and regulations under the 2024 Top-Up Tax Act to specify detailed guidelines for the imposition and calculation of the tax, says Kulaya Tantitemit, director-general of the Revenue Department.

- WICHIT CHANTANUSORNSIRI

The cabinet resolution, adopted yesterday, approved four pieces of legislation issued under the Act. The decrees and the regulations define the scope of multinational enterprise (MNE) groups subject to the top-up tax and set out rules for adjusting income, expenses, and covered taxes for the purpose of calculating the tax.