Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[JimGant]

Lemme see. 60k per mia noi, times 20, equals...nevermind.

[4myr]

5 minutes ago, chiang mai said:

Perhaps he's assuming that the person takes every allowance and deduction/allowance possible?

Using this tax calculator https://www.uobam.co.th/en/tax-calculation, with 5 M income and I use all the possible deductions/allowances  - wife, 3 children, 4 parents, 1 disabled person, all the possible investments, life insurance etc. I come to a net income of 2,683,819.95 and tax to be paid 570,145.98, which is 11.4%.

 

A tax adviser creative more than me can easily come to 10%.

 

Back to the Bangkok Post article. A few quotes that's interesting:
 

"For example, salaried employees bear 80% of the total personal income tax burden. However, only 4 million individuals pay personal income tax, though the labour force tallies 40 million. This means only 10% of the total workforce pays income tax."

 

 

[Yumthai]

7 minutes ago, chiang mai said:

A person who fled as self employed and took the 60% standard deduction for costs, along with all the other deductions probably could......but I'm not about to test or prove this, I only pointed out what he said, I'm not going to try and prove/disprove it.

OK. I think this part of the BP article is very "oriented" because it's clear that very few taxpayers who file 5M+ THB can get an effective PIT rate < 20%.