Krungsri e-Withholding Tax (e-WHT)

e-Withholding Tax Service is a service for a payer (a juristic person) who has the duty to deduct a withholding tax by sending a payment instruction together with withholding tax information to Krungsri via Krungsri CashLink system. After receiving the insruction, Krungsri transfers funds to the beneficiary and remits the withholding tax to the Revenue Department. In addition, the system notifies the beneficiary the transfer and withholding tax, and allows the payer to verify transactions from the report in the system.

Benefits

Relieve your burden to remit withholding taxes to the Revenue Department
Bypass your document preparation process (withholding tax certificate, separate personal income tax form with enclosures and withholding tax report)
Ease of sending your instructions via electronic channels
Able to verify your online real-time withholding tax payment information via our Krungsri CashLink system

Advantages

Tax return is not required (only the selected part).
Withholding tax certificate issuance is not required (Section 50 bis).
Bank provides a reliable electronic evidence in notifying the tax deductor and taxpayer.
Information of the tax deductor and taxpayer can be verified from the Revenue Department’s system.

Service channel

Krungsri CashLink

Call 0 2626 2626 Press 6 Press 3

FAQ

e-Withholding Tax or e-WHT system is a new means of tax remitting including:

Withholding tax, upon the payment of income to the domestic and international beneficiary (under Section 52, Section 70 and Section 70 bis of the Revenue Code) and
VAT; upon the payment of goods or services to overseas operators (under Section 83/5 and Section 83/6 of the Revenue Code)

by submitting the information and e-taxes via the bank who provides e-Withholding Tax system in place of submitting paper-based tax certificate or sending via internet (e-filing) to the Revenue Department.

Withholding tax is the money that the “payer”,registered as a company or juristic person must “withhold” prior to paying the beneficiary who can be either a juristic person or an ordinary person.

For the payer, the e-Withholding Tax system can substitute the use of the conventional tax filing procedures.The payer is not required to submit a withholding income tax return form, nor issue a tax certificate. This helps facilitate financial transactions and withholding of the income tax.

For the beneficiary, the fact that the bank helps remit the withholding tax and prepare information on tax withholding to the Revenue Department, means that the Revenue Department has already received the withholding tax information. Therefore, there is no need for any further information filing. Since both the beneficiary and the payer can verify tax information via the web portal of the Revenue Department, the process of preparing documents is reduced leading to less human errors and forgery risk mitigation.

The payer and the beneficiary can verify the withholding tax information on the Revenue Department’s website (www.rd.go.th) after 6 working days from the date to which the payer remits the tax to Krungsri. In addition, information can be downloaded by logging in to the e-filling system with a Username and Password.
The Revenue Department will further distribute the public manual regarding the use of the system.

1. Tax filing via e-Withholding Tax system:
Submit additional tax files via e-WHT system by remitting the tax and notify to the bank that provides such service.

2. Tax filing via paper-based or e-Filing system:
Submit additional paper-based or via e-Filing system, remit tax and issue 50 bis certificate as mandated by law.

Not required : the payer and the beneficiary can verify the withholding tax information on the Revenue Department’s website (www.rd.go.th) via e-Filing system.

Contact your sales partner or Krungsri CashLink, call 0 2626 2626, press 3, press 3.

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Krungsri e-Withholding Tax (e-WHT)

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