The Revenue Department is considering cutting corporate income tax to eighteen per cent in order to meet the challenge posed by Thailand's upcoming membership of the Asean Economic Community (AEC).
Deputy Director General Anant Sirisaengtaksin said the department was preparing to restructure taxes in part to boost the country's competitiveness when the ten members of the Association of Southeast Asian Nations implement the AEC in 2015.
The AEC will allow free movement of goods, investment and labour among member countries without taxes or other barriers.