Referring to the attached photo, if my income is 1 mill thai baht per year is the amount of tax that I would pay be around 115,000? (sliding scale)

 

Or is it 25% of 1,000,000?

 

If its 115k, how can I get that down a bit?

 

That looks right.

 

Have you looked at what deductions you can take? Medical insurance premiums can reduce taxable income by up to 25K. Wife? Children? 

 

Oh, a pedicure wouldn't go amiss.

 :))

 

https://www.rd.go.th/english/37748.html

Your calculation is correct. But you’ll have a 90k deductible first, so your taxable income would be 910k. You can also deduct social security contributions (12x750) and medical expenses. Then you can reduce your taxable income further by putting money aside in a mutual or provident fund, and there are deductions for other things like taking care of kids and parents.  

And maybe the exchange rate can be useful.. I don't know which rate they use or is it a average  rate??? My bank or their bank?

Thailand Personal Tax Deductions and Allowances - SHERRINGS

 

You can deduct 100000,- against category 1 income, pensions etc.,  plus care allowance 60000,- in addition to eventually dependents and life/ health insurance.

Felt

Its not flat rate tax in Thailand, the tax rate changes on the portion of income in the scale.

 

There a few deductions also. Like..

Being marrled sppuse no income 60000

Child 30000

Thai health insurance and life insurance (capped)

New Year giveaway, tax deduction for purchases.

Money you put into approved super saver fund

 

This deduction is on top of a personal allowance.

 

Try the calculator. Below (and others) your blended tax rate will be much lower.

 

https://www.uobam.co.th/en/tax-calculation

 

 

I have made an excel application that calculate your tax to Thailand. I also have ภ.ง.ด.91 in english ready to print out with RO01, also in english. The application is mainly made for norwegian taxpayers, but will calculate thai tax for any foreigner (if you understand the norwegian guide, that is). The application is on FB and can be downloaded by every member of that page for free.

Edited January 23, 20233 yr by Geir Rasch