The payment of stamp duty referred to in notification 60 shall apply to certain transaction documents physically executed between the parties concerned from 30 September 2020 to 31 December 2020. These transaction documents include: “Offshore execution of an electronic instrument does not have the effect of avoiding or delaying stamp duty liability” 23. Duplicate or counter-film of an instrument, i.e. an instrument having the same content as the original document or contract and signed by the person performing the instrument in the same way as the original. a) If the tax payable for the original does not exceed 5 baht. b) If the tax exceeds 5 baht. Once the application for payment of stamp duty has been submitted, those liable for stamp duty must pay stamp duty to the R&D electronically. Transfer of an entire business The transfer of an entire business is exempt from VAT, specific business tax and stamp tax under the conditions laid down in the rules. The stamp duty rates for a selection of frequently seen instruments are as follows: there are two common methods for paying stamp duty: for credit agreements, the maximum stamp duty is 10,000 baht.
Stamp duty Stamp duty is created and tax stamps must be affixed to various documents, including: land transfers, leases, stock transfers, bonds, mortgages, life insurance policies, pensions, powers of attorney, promissier notes, flow-through agents, traveller`s cheques and other documents. `electronic instruments` means instruments: (i) the categories of prescribed instruments, which are listed as subject to stamp duty in the stamp duty plan of the Thai Tax Act; and (ii) be done electronically in accordance with the Electronic Transactions Act (ETA). An electronically signed agreement with reliable digital signatures should meet the requirements of ETA. Although it is customary for agreements to be addressed specifically to the party paying stamp duty, some agreements do not correctly assign responsibility for the stamp. Prior to the execution of an electronic instrument, foreign parties should be consulted on which party is responsible for stamp duty on the electronic instrument under Thai law (which varies from one class of instrument to another), in order to avoid unexpected stamp duty liability and penalties for late payment. The execution at sea of an electronic instrument will not have the effect of avoiding or delaying the stamp duty obligation, since ETA considers electronic signatures created in another country as the same legal effect as an electronic signature manufactured in Thailand, as long as the reliability standards comply with the requirements of ETA. An electronic signature issued by a Thai party abroad is probably considered the same effect as an alleged signature in Thailand. Prior to notification, the obligation to pay stamp duty on the instruments included in the stamp duty plan was triggered by export to Thailand or its transport to Thailand. The tax is levied on documents or instruments relating to land transfers and leases, transfers of shares, bonds, flow-throughs, mortgages, debt securities, pensions, life insurance policies, powers of title and traveller`s cheques. .
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