Tax

[apj696]

does anyone know how the tax is calculated here?

on a previous salary of 35k, tax deducted was 1,800 baht

now salary of 40k, tax deducted 4,700 baht?

a massive difference......ur comments are appreciated

[rogerinthai]

does anyone know how the tax is calculated here?

on a previous salary of 35k, tax deducted was 1,800 baht

now salary of 40k, tax deducted 4,700 baht?

a massive difference......ur comments are appreciated

Makes no sense, I paid around 2,300 for a salary of 40K.

[Tywais]

Doing a quick calculation:

40,000 x 12 = 480,000

-30,000 (personal allowance) = 450,000

0-100,000 = 0%

350,000 = 10% = 35,000 total

35,000/12 = 2916.66 Baht/month

If you have dependents (children/wife) then spouse (-30,000) children (-15,000 each) and subract from the 480,000 first.

Seems you were underpaying before and now overpaying.

You can work it out yourself here > http://www.rd.go.th/publish/6045.0.html

It's possible if your salary change was mid year then they are correcting the deduction discrepancy.

[Cyberstar]

Doing a quick calculation:

40,000 x 12 = 480,000

-30,000 (personal allowance) = 450,000

0-100,000 = 0%

350,000 = 10% = 35,000 total

35,000/12 = 2916.66 Baht/month

If you have dependents (children/wife) then spouse (-30,000) children (-15,000 each) and subract from the 480,000 first.

Seems you were underpaying before and now overpaying.

You can work it out yourself here > http://www.rd.go.th/publish/6045.0.html

It's possible if your salary change was mid year then they are correcting the deduction discrepancy.

If income from employment: deduct 40% max 60,000 before taxing 10%. Result - the monthly taxpayments above are reduced by 500 baht yielding 2417.

The 1,800 for 35,000 sounds about right and it seems like you're about double taxed now.

Edited February 5, 2007 by Cyberstar

[Tywais]

If income from employment: deduct 40% max 60,000 before taxing 10%. Result - the monthly taxpayments above are reduced by 500 baht yielding 2417.

The 1,800 for 35,000 sounds about right and it seems like you're about double taxed now.

Good catch, I forgot the 60,000 employment deduction. So it would be:

40,000 x 12 = 480,000

-60,000 = 420,000

-30,000 (personal allowance) = 390,000

0-100,000 = 0%

290,000 = 10% = 29,000 total

29,000/12 = 2416.66 Baht/month

And for 35k/month = 1916.66B/month

Yeah, something is not right. Only thing I can think of is if they are starting to add social security to it.