Hi, can anyone tell me what the tax is on 145,000 baht per month with 3 dependants.

Thanks

Hi eMzyme,

Your annual income tax should be no more than 313,800 THB and each month you would have to pay Social Security an additonal 600 THB (assuming you don't take advantage of the RMF and/or Provident Fund and LTF options). Your monthly net pay would be 118,250 THB in my estimate.

If you take advantage of both (highly recommend the LTF at the very least but I do both as I'm longterm here in Thailand) you can deduct another 15% for each RMF and LTF.

So if you did both RMF and LTF deductions (google them and you can find out more) your annual tax would be no more than 157,200 THB. If you only did the LTF option then your annual tax would be no more than 235,500 THB.

I would give my annual Income Tax estimate figures a +/- 1,000 THB per year as I'm usually this amount off in my own projections vs. my accountants actual computations....Hope this helps!

P.S. Here's a link to the Thai Revenue Dept. that I find quite useful: http://www.rd.go.th/publish/6045.0.html

Edited November 26, 201213 yr by BangkokWildcat

Thanks for the info. Im currently getting taxed 34.193 baht per month. so taking home 110.807. Around 8000 Baht less than your calculations, seems high to me.

What does your payslip say with regards to deductions? You haven't given much in the way of detail. Are there any deductions for a Provident Fund? Or are the only deductions for Social Security @ 600 THB and Income Tax?

If so, they are witholding way too much (approx. 8k/month) and there is no reason to have this done. Would suggest you provide more details in your post and/or get your Finance Dept. to reconcile this.

Assuming the 3 dependents are 1 wife (non working), and 2 children (minor, or under 25 years old and studying in Thailand):

Taxpayer allowance: 30,000

Spouse allowance: 30,000

Child allowance: 30,000 (2 X 15,000)

Deductible expenses: 60,000

Total: 150,000 Baht

Taxable income: 1,740,000 - 150,000 = 1,590,000 Baht

0 - 150,000 no tax

150,001 - 500,000 (=349,999) at 10% = 35,000 Baht

500,001-1,000,000 (=499,999) at 20%= 100,000 Baht

1,000,001 - 1,590,000 (=589,999) at 30% = 177,000 Baht

Total tax owed = 312,000 Baht/year or 26,000/month

Even without taking the dependents into consideration would bring the tax only to 27,800/month.

On top of this you pay social security (which actually also is tax deductible). If your children are going to a Thai school, you can deduct another 2000 per child.

Anything you are paying to much now, you will get refunded by the revenue department, however your HR department should be able to calculate much closer to actual estimated tax.

There's a tax calculator spreadsheet in this post

http://www.thaivisa.com/forum/topic/602811-tax-options-living-in-thailand/#entry5903950

Thanks for the replies, I have 3 children who all attend the school I work in (international school). I am not currently paying into any kind of fund as far as i'm aware. The payslip reads as total income 145k., (this includes position allowance, housing etc). Under deductions it reads as 59,448 baht, some of these deductions are for school diners, transport and trips, tax comes in at 34,193,55. The tax has been the same every month.