How Much Income Tax For Employees?

[Baaksida]

What is the withholding rate for individual's income tax (salary) in Thailand ?

(Yearly income: 360,000 baht.)

Thank you very much.

[splitlid]

i think its 5% for that amount.any amout up to 500,000 per year.

but then again i could be wrong.usually am.

why is your employer confused?

[Sunbelt Asia]

Tax rates of the Personal Income Tax for Thailand

Taxable Income Tax Rate (%)

0 - 80,000 Exempt - -

80,001 - 100,000 5 %

100,001 - 500,000 10 %

500,001 - 1,000,000 20 %

1,000,001 - 4,000,000 30 %

4,000,001 and over 37 %

Hence the personal tax on 360,000 would be 27,000 Baht for the year.

www.sunbeltasia.com

[singa-traz]

http://www.rd.go.th/publish/6000.0.html

[Baaksida]

Thanks for the replies!

My employer at first deducted the wrong amount, before withholding 5% of my salary (1,500 baht out of 30,000 baht).

Is this all what I'll have to pay as personal income tax this year (18,000 baht) ?

[dfwbkk]

Baaksida,

I think (provided that you're non-thai) that your minimum salary (from a tax perspective) is considered to be 40 kTHB/mth.

This would mean that you're taxed on an imaginary income of 480 kTHB, and hence taxed 39 kTHB/yr (so the deduction should be rougghly 3300 bath/month unless your employer has some other "ideas" on how to report taxes etc...

If you're from an asian country the level is somewhat lower (if I remember correctly the tax income is 420 kTHB, which would result in 33 k in taxes)

/// DFW

[Sunbelt Asia]

The minimum salary determined by your nationality is if you have a one year visa.

Nationality does not come into play with a a work permit with a multi entry visa. Then it could be a salary as low as 30,000 Baht per month if you're single or 45,000 if you're married.

www.sunbeltasia.com