Specific Business Tax (SBT) is another kind of indirect tax that applicable for some certain businesses that are excluded from VAT. SBT is calculated from gross receipts with the tax rate between 0.1% – 3%, and required to be submitted within 15 days of the following month.
Business activities that subject to SBT are as following:
(1) banking under the law governing commercial banking or any other specific law
(2) business of finance, securities and credit foncier under the law governing operation of the business of finance, securities and credit foncier
(3) life insurance under the law governing life insurance
(4) pawn broking under the law governing pawnshops
(5) business with regular transactions similar to commercial banks, such as provision of loans, provision of guarantees, exchange of currencies, issuance, purchase or sale of bills or transfer of money abroad by different means;
(6) sale of an immovable property in a commercial or profitable manner, irrespective of the manner in which such property is acquired, only in accordance with the rules, procedures and conditions prescribed by a royal decree
(7) sale of securities in a securities market under the law governing securities exchange of Thailand
(8) any other business as prescribed by a royal decree.