Tax Strategy and Tax Policies

CP ALL Public Company Limited and all subsidiaries recognized that “tax” is critical to sustainable development. It not only promotes and supports competitiveness of the business but also helps make socio-economic impacts as well as national development as a whole.

The Company is committed to tax management based on the principles of accuracy, transparency, and accountability for the highest benefits of the Company and all stakeholders. The practices of tax planning and implementation are in a consistent alignment within the Group.

The Group is managed and operates principally in Thailand. There are no material revenues derived from, or assets located in, foreign countries.


  • With regards to taxation, the Company strictly complies with the revenue code and tax laws, both in the spirit and letter of the law, that are related to the Company’s business operations with laws and regulations. The Company has tax consultants which comprises personnel with an expertise in supervising over strict compliance with laws and regulations.
  • The Company has a Tax Accounting Department. It is responsible for following up with the government policy or initiatives that would lead to law enactment. Study the criteria for tax measures and tax privileges so as to keep abreast of the potential impacts to the Company. And notify the responsible person on the matters that would have impacts on the Company in order to prepare the Company for complying with the new law.
  • The Company does not have a policy to shift its profits to overseas subsidiaries where there is a low tax regime to avoid paying higher taxes in its home country.
  • Transfer pricing for any intercompany transactions is based on the Arm’s Length Principle, which is in compliance with the Thailand Revenue Code and any related tax laws.
  • The Company will not use tax structures without commercial substance or misuse the tax structure in way that would encourage tax avoidance. The company does not use tax haven for tax avoidance purpose.
  • The tax policy must be approved by the board of directors before being implemented.

Income Tax Expense 2023

Reconciliation of effective tax rate
  Consolidated financial statements
Applicable tax rate (%) 0% 20% Other Total
  (in million Baht)
Accounting profit (loss) before income tax expense (12) 27069 (603) 26454
Income tax at the applicable tax rates - 5414 (121) 5293
Tax effect of income and expenses that are not taxble income or not deductible in determining taxable profit - (1099) 362 (737)
Over provided in prior years - 52 (6) 43
Net - 4367 235 4602

The Group is operate principally and contribute revenue in Thailand 94.22%. In 2023, profit before tax in Thailand was 27,069 million Baht and corporate tax was 4,367 million Baht as effective tax rate 16.13%, which is different with effective tax rate of 20% based on Revenue Code Amendment Act No.42 B.E. 2559 dated at 3 March 2016 By the Industrial Investment Promotion Act B.E. 2520, a local subsidiary has been granted privileges on an exemption from payment of corporate income tax on net profit of the promoted business.

The Company has been obtained privilege on an investment promoted policy in Thailand by Governance, which motivate increasing investment by Private Sector and economic expansion in Thailand.

Moreover, the company has been also granted privileges on an exemption from payment of corporate income tax for the training or employee development.

Annual report 2023 (English version page 296)

Tax Privileges in Thailand 2022

Summary Tax exemption has been applied in 2022
Training fee (promote the development of employee skills) of Royal Decree no. 437 1.19%
The acquisition of machine of Royal Decree no. 690,695 0.94%
Investment in the electronics tax system of Royal Decree no. 718 0.04%
Interest payment on perpetual subordinated bond 0.77%
Total 2.95%

Number of employees which breakdown by country

Country Number of Employee
Persons FTE
Thailand 176985 168631
Combodia 1490 1850
Laos 118 116
Malaysia 1 1
China 20 20
Vietnam 0 0
Other 2494 3024

Related Policy and Guideline

Tax PolicyDownload

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