The rate of stamp duty on loan agreement is 1 THB for every 2,000 THB or fraction thereof of the total amount of loan agreed upon, with limitation of amount of a payable stamp duty not exceeding 10,000 THB. Certain types of instruments are exempted from stamp duty, particularly, the loan borrowed from the cooperative; the cooperative borrows from the cooperative; or the cooperative borrows from the bank for agriculture and agricultural cooperatives.
The payment of the stamp duty on loan agreement can be paid in cash or cashier’s check since the loan agreement falls into one type of instruments that is approved and prescribed in the Notification of the Revenue Department. A taxpayer or a lender, shall prepare a loan agreement signed by the lender and affixed with the company’s seal on and shall pay stamp duty on the loan agreement. The payment of the stamp duty can only be made in cash or cashier’s check within 30 days from the date of receipt of the loan agreement by a tax official of the Revenue Department where the head office of the company is located or the place where the instrument is executed.