Heard a short blip on the morning news that revised PIT starting 2013 (file 2014) but story did not give full details

Mentioned highest bracket would be reduced to 35% and that lowest would be reduced to 5% for 150-300k and that there would now be 7 tax brackets instead of 5.

Also first 150k will remain tax free, but no details on the other tax brackets given

Any one have the details?

Here are the details:

0 - 150,000 tax-exempt

150,001 - 300,000 5%

300,001 - 500,000 10%

500,001 - 750,000 15%

750,001 - 1,000,000 20%

1,000,001 - 2,000,000 25%

2,000,001 - 4,000,000 30%

4,000,001 and up 35%

But please note that this new personal income tax structure only takes effect in the 2013 tax year (i.e. tax returns you file by 31 March 2014 latest). 2012 tax (tax returns filed by 31 March 2013) is still subject to the "old" structure.

True , but HR from all companies in Thailand should start withholding payroll taxes on1Jan 2013 (next month) based on the new calculations, correct?

If so, then can expect a nice "raise in pay" next month...

Edited December 19, 201213 yr by CWMcMurray

True , but HR from all companies in Thailand should start withholding payroll taxes on1Jan 2013 (next month) based on the new calculations, correct?

If so, then can expect a nice "raise in pay" next month...

Yes, that most likely is the case.

True , but HR from all companies in Thailand should start withholding payroll taxes on1Jan 2013 (next month) based on the new calculations, correct?

If so, then can expect a nice "raise in pay" next month...

Depends on how much you make!

Somebody getting 100,000/month before tax will see his take home pay go up 2150 Baht/ month...(assuming only standard deductions for an unmarried persom without dependants)...

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Is it possible to download the new 2013 Personal Income Tax calculator somewhere? (in excel format maybe?)

also would like to know any changes in the Allowances?

What are the are the dates used to calculate a tax year in Thailand?

What are the are the dates used to calculate a tax year in Thailand?

jan 1st-dec 31st.

where is this gov.getting all the revenue from?

What are the are the dates used to calculate a tax year in Thailand?

jan 1st-dec 31st.

where is this gov.getting all the revenue from?

Correct, and you have to file before the last day of March for your earnings of the previous year...

new tax brackets are supposed to be in effect for 2013, not sure that companies revise their income tax collection for employees or employees simply file their return and receive the excess taxes paid.

new tax brackets are supposed to be in effect for 2013, not sure that companies revise their income tax collection for employees or employees simply file their return and receive the excess taxes paid.

I questioned the HR manager here why my tax had not been re-calcualted and the reply was that the new tax brackets have not offcially been implemented yet, this was in April.

new tax brackets are supposed to be in effect for 2013, not sure that companies revise their income tax collection for employees or employees simply file their return and receive the excess taxes paid.

I questioned the HR manager here why my tax had not been re-calcualted and the reply was that the new tax brackets have not offcially been implemented yet, this was in April.

The guy is right. The new personal income tax rates to be effective Jan 1^st 2013 have been approved by the Thai cabinet in December 2012, but the required legislation have not yet been promulgated.

The finance ministry recently conceded that the new legislation might not be ready in time to take effect in 2013, due to the sluggishness in the legal process.

It appears that other issues are currently more important to our lawmakers.

Pun intended!!

Is it possible to download the new 2013 Personal Income Tax calculator somewhere? (in excel format maybe?)

does anyone know if there is one? if not I could make one... for web and perhaps as a mobile app as well, as we need this constantly.

With this, along with the LTF gift wrapper, it makes the spaghetti wire power cords and useless, corrupt police look a lot better.