Work Permits And Taxes In Los

[JJDinsay]

Hey guys, 2 questions. When applying for a work permit, will you be denied if you do not have a college degree? 2nd, I have done some research on the Internet about income taxes in Thailand and below is the scale:

500k - 1Mil = 20% tax rate

1Mil - 1Mil+ = 30% tax rate

But that is based off Net Annual Income. What does "Net Annual Income" mean at this point if taxes are not yet taken out? Should those instead say "Gross Annual Income"? It's only "Net" after taxes are taken out yet?

I have also read something about a standard deduction for "living expenses" can be taken immediatly off the top at 40% of "Gross Annual Income", does this formula then account for "Net Annual Income"?

Many thanks

[~G~]

Not sure whether I understood all the questions or not, and surely not an accounting expert, but I'll tell you what I do know:

- A degree is helpful in getting a WP but not a neccesity.

- In calculating income tax, there are many deductions that can be made which make you pay less tax (family status, morgage, etc.)

- If the company is paying your rent, for example, it is considered part of your income on which you need to pay tax.

[Khutan]

There are many falang who have a WP and no college degree, just in very specialised jobs, paying huge amounts of money as well.

This sounds funny but is true, If you have Thai dependants including the family back in Issan who your G/F is sending money to, you can claim them as well.

For tax, get an accountant, if you are making more than 2m a year, a good accountant will probably make you about 100k baht.

[singa-traz]

Directly from the Revenue Department:

Personal Income Tax