ไทยIT CITY manages its corporate income taxes in compliance with the tax laws of each country with accuracy, transparency, and fairness, taking into account its duty to comply with tax laws. Most of IT CITY income is derived from business operations in Thailand and is subject to a corporate income tax rate of 20 percent, which is a normal rate under the law.
|
Reported tax rates and cash tax rates |
Unit: Thousand Baht |
|
|
|
2023 |
2022 |
|
Operational profit before tax |
53,114 |
15,510 |
|
Income tax expense (benefit) in the financial statements |
5,745 |
(3,705) |
|
Reported tax rate (percent) |
0.1 |
(0.2) |
|
Cash tax |
33,579 |
44,895 |
|
Cash tax rate (percent) |
0.6 |
2.9 |
In 2023, IT CITY had a reported tax rate of 0.1% (compared to -0.2% in 2022) which was lower than the prescribed 20% corporate income tax, due to the tax losses of the prior year. Moreover, the Company has income tax exemption from dividend income.
|
Differences between the cash tax rates and corporate income tax rates |
Unit: Thousand Baht |
|||
|
|
Rate |
2023 (Thousand Bath) |
Rate |
2022 (Thousand Bath) |
|
Operational profit before tax |
|
53,114 |
|
15,510 |
|
Taxes calculated from statutory corporate income tax rates |
20% |
10,623 |
20% |
3,102 |
|
Description: |
|
|
|
|
|
Non-deductible expenses |
|
1,461 |
|
1,493 |
|
Income not subject to tax |
|
(6,146) |
|
(7,910) |
|
Additional expense deduction allowed |
|
(193) |
|
(150) |
|
Adjustment in respect of the prior year |
|
– |
|
(240) |
|
Total |
10.8% |
5,745 |
(23.9%) |
(3,705) |