Taxation

The Revenue Code of Thailand Section 65 (13):

A foundation or association engaged in a revenue-producing business is not required to include as revenue any registration of subscription fees received from its members, or any money or property received by way of donation or gift.

Rotary Clubs are seen as falling under this act as we are part of Rotary International and registered as such. – as advised by a Senior Revenue Department official.

We though Rotary will be taxed 10% on any interest we receive for money deposited in the bank, which the bank will immediately deduct from interests credited to the account.

Thai Companies are allowed to deduct from their corporate tax at the end of the year only 2 % given as donations to a charitable organization from net profits.

President Sam Fauma

3rd January 2005