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Withholding Tax Rates for Interest
under Thailand's DTAs
if the recipient of interest does not have a P.E. or fixed base in the source country
CountryRecipient  of interest Tax rate not exceedingNotes
1. Germanyfinancial institution incl.10if the enterprise paying the interest 
   insurance companies engages in an industrial undertaking
 other persons25Note: for interest arising in Thailand, 
   apply 15% tax rate in accordance with
   the Revenue Code
 government and financialexempt  
 institution wholly owned  
 by the government  
 other personsexempt interest on bonds issued by the 
   government
    
2. Franceother persons3interest paid on loans or credits 
   granted for four years or more with the 
   participation of a financing public 
   institution to a statutory body or to an
   enterprise in relation to the sale of 
   any equipment or to the survey, the 
   installation or the supply of industrial,
   commercial or scientific premises and 
   public works
   "Financing public institution" means in
   the case of France, COFACE and 
   Natexis Bank and in the case of Thai-
   land means EXIM Bank, Government
   Savings Bank, Government Housing 
   Bank, Bank for Agriculture & Agricultu-
   ral Cooperatives, Krung Thai Bank, 
   Rattanasin Bank, Industrial Finance
   Corporation of Thailand
 any financial institution10 
 governmentexempt 
    
3. Singaporeany financial institution10 
 incl. insurance company  
 other persons25Note: for interest arising in Thailand, 
   apply 15% tax rate in accordance with  
   the Revenue Code
 governmentexempt 
    
4. Netherlandsany financial institution 10 
 incl. insurance company  
 other persons25Note: for interest arising in Thailand, 
   apply 15% tax rate in accordance with
   the Revenue Code
    
5. Italyany financial institution10if the enterprise paying the interest 
 incl. insurance company engages in an industrial undertaking
 government and financialexempt 
 wholly owned by the   
 the State  
 other personsexemptinterest on bonds issued by the
   government
    
6. Belgiumany financial institution10 
 incl. insurance company  
 other persons25Note: for interest arising in Thailand, 
   apply 15% tax rate in accordance with 
   the Revenue Code
 governmentexempt 
    
7. Pakistanany financial institution10 
     incl. insurance company  
 other persons25 
 governmentexempt 
    
8. United Kingdombank or financial institu-10 
    tion incl. insurance  
 company  
 other persons25 
 government, central exempt 
 bank or any agency   
 (other than agency with  
 shared capital) wholly  
 owned by the govern-  
 ment  
    
9. MalaysiaMalaysian financial insti-10interest arising in Thailand
 tution incl. insurance  
 company  
 other Malaysian persons25Note: for interest arising in Thailand,
   apply 15% tax rate in accordance with
   the Revenue Code
 Thai residents15interest arising in Malaysia
 governmentexempt 
    
10. PhilippinesPhilippines financial in-10interest arising in Thailand
 stitution incl. insurance  
 company  
 other Philippines persons25interest arising in Thailand
   Note: for interest arising in Thailand,
   apply 15% tax rate in accordance with
   the Revenue Code
 Thai residents10interest arising in the Philippines in 
   respect of public issues of bonds, 
   debentures or similar obligations
 Thai residents15interest arising in the Philippines
 governmentexempt 
    
11. Polandany financial institution10 
     incl. insurance company  
 governmentexempt 
   Note: for other persons, apply 
   domestic tax rate (Thailand = 15%)
    
12. CanadaCanadian financial insti-10interest arising in Thailand
 tution incl. insurance  
 company  
 other Canadian persons25Note: for interest arising in Thailand,
   apply 15% tax rate in accordance with
   the Revenue Code
 Thai residents15interest arising in Canada
 governmentexempt 
    
13. Finlandany financial institution10 
 incl. insurance company  
 other persons25Note: for interest arising in Thailand,
   apply 15% tax rate in accordance with
   the Revenue Code
 governmentexempt 
    
14. Indiaany financial institution10 
 incl. insurance company  
 other persons25Note: for interest arising in Thailand,
   apply 15% tax rate in accordance with
   the Revenue Code
 government, local au-exempt 
 throity or central bank  
    
15. Austriaany financial insitution10 
 incl. insurance company  
 other persons25Note: for interest arising in Thailand,
   apply 15% tax rate in accordance with
   the Revenue Code
 governmentexempt 
    
16. Chinaany financial institution10 
 incl. insurance company  
 governmentexempt 
   Note: for other persons, apply
   domestic tax rate (Thailand = 15%)
    
17. Swedenany financial institution10 
 incl. insurance company  
 any other company25Note: for interest arising in Thailand,
   apply 15% tax rate in accordance with
   the Revenue Code
 government or centralexempt 
 bank  
   Note: for other persons, apply 
   doemstic tax rate (Thailand = 15%)
    
18. Hungaryany financial insitution10 
    incl. insurance company  
 other persons25Note: for interest arising in Thailand,
   apply 15% tax rate in accordance with
   the Revenue Code
 governmentexempt 
    
19. Australiaany financial institution10 
 incl. insurance company  
 other persons25Note: for interest arising in Thailand,
   apply 15% tax rate in accordance with
   the Revenue Code
 government or central exemptInterest derived from the investment
 bank of official reserves by the government
   or by a bank performing central 
   banking functions
    
20. Sri Lankaany financial institution10 
     incl. insurance company  
 other persons25Note: for interest arising in Thailand,
   apply 15% tax rate in accordance with
   the Revenue Code
 governmentexempt 
    
21. Japanany financial institution10 
 incl. insurance company  
 other persons25Note: for interest arising in Thailand,
   apply 15% tax rate in accordance with
   the Revenue Code
 government, central exempt 
 bank or financial insti-  
 tution wholly owned by   
 the government  
    
22. Vietnamany financial institution10 
    incl. insurance company  
 other persons15 
 governmentexempt 
    
23. Czech Republicany financial institution10 
 incl. insurance company  
 governmentexempt 
   Note: for other persons, apply
   domestic tax rate (Thailand = 15%)
    
24. Switzerlandany financial institution10 
 incl. insurance company  
 other persons15 
 other personsexemptif interest is paid in respect of a loan
   made or guaranteed or insured by 
   the Bank of Thailand and EXIM Bank
   or under the Swiss provisions 
   regulating the Export or Investment
   Gurantee
    
25. Israel any financial institution10 
 incl. insurance company  
 other persons15 
 governmentexempt 
    
26. South Africaany financial institution10 
 incl. insurance company  
 other companies15 
 governmentexempt 
   Note: for other persons, apply 
   domestic tax rate (Thailand = 15%)
    
27. Romaniaany financial institution10 
     incl. insurance company  
 other companies20in the case of interest on credit sale
 other companies25 
 governmentexempt 
   Note: for other persons, apply
   domestic tax rate (Thailand = 15%)
    
28. United States of  Americaany financial institution10 
     incl. insurance company  
 other persons10interest paid with respect to 
   indebtedness arising as a 
   consequence of a sale on credit of
   any equipment, merchandise or
   services
 other persons15 
 other personsexempt interest paid in respect of debt
   obligations guaranteed or insured by
   the government
 governmentexempt  
    
29. Laosany financial institution10 
     incl. insurance company  
 other persons15 
 governmentexempt 
    
30. Mauritiusany financial institution10 
 incl. insurance company  
 other persons15 
 government, institutionexempt 
 body or board wholly  
 owned by the   
 government  
    
31. Luxembourgany financial institution10 
 incl. insurance company  
 other persons15 
 governmentexempt 
    
32. Bangladeshany financial institution10 
     incl. insurance company  
 other persons15 
 governmentexempt 
    
33. Nepalany financial institution10 
 incl. insurance company  
 other companies15 
 governmentexempt 
   Note: for other persons, apply 
   domestic tax rate (Thailand = 15%)
    
34. Spainany financial institution10 
 incl. insurance company  
 other persons15 
 governmentexempt 
    
35. New Zealandany financial institution10 
 incl. insurance company  
 other persons10interest is paid with respect to
   indebtedness arising as a 
   consequence of a sale on credit of
   any equipment, merchandise or services
 other persons15 
 governmentexempt interest derived from the investment
   of official reserves by the government,
   a bank performing central banking
   functions or EXIM Bank of Thailand 
    
36. Denmarkfinancial institution incl.10 
 insurance companies  
 other persons15 
 governmentexempt 
 other personsexemptinterest paid in respect of a loan made
   by or guaranteed or insured by the
   government, the central bank, or any 
   agency or instrumentality which is 
   wholly owned or controlled by that 
   government
    
37. Uzbekistanany financial institution10 
 incl. insurance company  
 other persons15 
 other personsexemptif the interest is paid in respect of
   loan made or guaranteed or insured, or
   in respect of any debt-claim or credit
   guranteed or insured on behalf of the
   the State by its authorised organ
 governmentexempt 
    
38. Cyprusany financial institution10 
 incl. insurance company  
 other persons10interest is paid in connection with the
   sale on credit of any industrial, 
   commercial or scientific equipment, 
   or of any merchandise
 other persons15 
 governmentexempt 
    
39. United Arab Emiratesany financial institution10 
 incl. insurance company  
 other persons15 
 other personsexemptif the interest is paid in repsect of 
   loans guaranteed or insured by the
   government
 governmentexempt 
    
40. Bulgariaany financial insitution10 
 incl. insurance company  
 other persons15 
 governmentexempt 
    
41. ArmeniaThai financial institution10 
 incl. insurance company  
 Armenian institution10 
 having a license to carry  
 on banking operations  
 government, authorityexempt 
 created therein, the  
 Central Bank or the   
 EXIM Bank of Thailand  
   Note: for other persons, apply
   domestic tax rate (Thailand = 15%)
    
42. IndonesiaThai residents15interest arising in Indonesia
 Indonesian financial in-10interest arising in Thailand
 stitution incl. insurance  
 other Indonesian 25Note: for interest arising in Thailand,
 residents apply 15% tax rate in accordance with
   the Revenue Code
 governmentexempt 
    
financial institution incl.10 
 insurance companies  
 other persons15 
 governmentexempt   
 other personsexempt  interest paid in respect of a loan made 
   by or guaranteed or insured by the
   government
    
44. Bahrainany financial institution10 
 incl. insurance company  
 other persons15 
 governmentexempt 
    
45. Omanany financial institution10 
 incl. insurance company  
 other persons10if the loan or debt-claim giving rise to
   the interest is guranteed by the
   government
 other persons15 
 governmentexempt 
    
46. Sloveniaany financial institution10 
 incl. insurance company  
 other persons15 
 other personsexemptinterest paid in respect of loan made
   or guranteed by the government
 governmentexempt 
    
47. Ukrainea bank or any other 10 
 financial institution incl.  
 investment banks and  
 savings banks and  
 insurance companies  
 other persons15 
 other personsexemptinterest with respect to debt-cliams
   guaranteed, insured by the government
   the central bank or any other financial
   institution established and owned by 
   the government to promote trade and
   investment
 government, the central exempt 
 bank or any other   
 financial institution   
 established and owned  
 by the government to   
 promote trade and  
 investment  
    
48. Turkeyany financial insitution10 
 incl. insurance company  
 other persons15 
 governmentexempt 
    
49. Hong Kongany financial institution10 
 or insurance company  
 other persons10interest paid with respect to 
   indebtedness arising as a 
   consequence of a sale on credit of
   any equipment, merchandise or
   services
 other persons15 
 governmentexempt 
    
50. Seychellesany financial institution10 
 other persons15 
 governmentexempt 
    
51. Kuwaitany financial institution10 
 other persons15 
 other personsexemptloans guaranteed or insured by the 
   government
 governmentexempt 
    
52. Koreaany financial institution10 
 or insurance company  
 other persons10interest paid with respect to 
   indebtedness arising as a 
   consequence of a sale on credit of
   any equipment, merchandise or
   services
 other persons15 
 governmentexempt 
    
53. Russianany financial institution10 
 incl. insurance company  
 government, central bankexempt  
 and EXIM bank  
   Note: for other persons, apply domestic tax rate (Thailand = 15%)
    
54. Chileany financial institution10 
 incl. insurance company  
 other cases15 
    
55. Myanmar Beneficial owner of10 
  the interest 
 government10 
    
56. Chinese Taipei any financial institution10 
 including insurance  
 company  
 other cases15 
    

Last updated: 29.01.2014