Thailand Income Tax

[keff]

Hi, I heard that Thailand has one of the highest income tax structures.

To tax experts, what would the yearly tax be for a monthly income of THB150000?

Is there a monthly tax deduction scheme of is it only payable at the end of the year?

Thanks

[mark5335]

As per the Revenue Dept website (http://www.rd.go.th/publish/6045.0.html), the personal income tax rates are as follows:-

Annual Taxable Income Marginal Taxable income Tax Rate (%)

0 - 150,000 (2008 onwards) 150,000 Exempt

150,001 - 500,000 350,000 10

500,001 - 1,000,000 500,000 20

1,000,001 - 4,000,000 3,000,000 30

4,000,001 and over 37

I'm a salaried employee in Thailand, so my employer deducts my income tax each month (referred to as withholding tax here), and I receive my net salary paid into my bank a/c each month after tax.

In March the following year, the income tax return is submitted and a refund or additional payment maybe required depending upon the declarations in your tax return.

In your case, the marginal income tax rate would be 30%,. However, your average rate would only be be 22.16% due to marginal tax thresholds etc. Your total tax would be approx. 399,000 bt. There are certain tax deductions as described on the RD website which may reduced your tax liability depending upon your circumstances.

[keff]

As per the Revenue Dept website (http://www.rd.go.th/publish/6045.0.html), the personal income tax rates are as follows:-

Annual Taxable Income Marginal Taxable income Tax Rate (%)

0 - 150,000 (2008 onwards) 150,000 Exempt

150,001 - 500,000 350,000 10

500,001 - 1,000,000 500,000 20

1,000,001 - 4,000,000 3,000,000 30

4,000,001 and over 37

I'm a salaried employee in Thailand, so my employer deducts my income tax each month (referred to as withholding tax here), and I receive my net salary paid into my bank a/c each month after tax.

In March the following year, the income tax return is submitted and a refund or additional payment maybe required depending upon the declarations in your tax return.

In your case, the marginal income tax rate would be 30%,. However, your average rate would only be be 22.16% due to marginal tax thresholds etc. Your total tax would be approx. 399,000 bt. There are certain tax deductions as described on the RD website which may reduced your tax liability depending upon your circumstances.

Thanks Mark, much appreciated.

[keff]

If my companypays me THB25000 per month as allowance to pay for my conveyance costs, does this get tax too?

What if I use this and pay for a rental car?

[mark5335]

Allowances are subject to the same tax as basic salary, i.e., treated the same as salary.

[daveb1]

Hi like in the UK is the 20% tax rate only on the amount you earn over 500,000 baht or on the total amount you earn

Cheers

Edited October 24, 2009 by daveb1

[Spoonman]

If my companypays me THB25000 per month as allowance to pay for my conveyance costs, does this get tax too?

What if I use this and pay for a rental car?

yes its taxed, shits me to tears lol.