Income tax deduction from monthly salary - working in thailand

[aar78]

I will be starting a new job in Bangkok next month. How much will be deducted from my monthly salary for income tax. Is there a method of calculating the taxes based on the monthly salary that i get.

[thaicbr]

Yes...... how much is your salary? Will you be paying social security?

Sent from my i-mobile i-STYLE Q6

[aar78]

I'll be earning about 170,000/month plus allowances. Not sure about the social security but lets ignore it for now

[Tywais]

Looks like part of it will be in the 20% and 30% bracket. So average around 15% - 20% as a rough guess.

http://www.rd.go.th/publish/6045.0.html

[isawasnake]

But he wants to know how much they will take out a month, I think. Many times you can request they take out quite a bit less than what you will actually pay, and then settle the difference at the end via a big fat bill when you go see the tax man.

[Spoonman]

I'll be earning about 170,000/month plus allowances. Not sure about the social security but lets ignore it for now

Allowances are also calculated into the taxable income so lets for the sake of t round you up to 200k.

As a single man without any dependents you will be paying about Bt45,000 per month n taxes.

[Cloggie]

Have a nice Excel sheet that calculates everything for you but have no idea how to upload it for you, anybody any idea????

[aar78]

Can you email me the sheet. I'll private message you my email.

Have a nice Excel sheet that calculates everything for you but have no idea how to upload it for you, anybody any idea????

[Spoonman]

Thai income tax online calculator.

http://www.thailand-accounting.com/incometax.html

[Garnethoyes]

I'll be earning about 170,000/month plus allowances. Not sure about the social security but lets ignore it for now

Allowances are also calculated into the taxable income so lets for the sake of t round you up to 200k.

As a single man without any dependents you will be paying about Bt45,000 per month n taxes.

You should start an RMF and/or LTF (Retirement mutual funds and Long term funds) accounts at the bank when you open a bank account here. That would drastically reduce your tax burden. Don't be pushed to also take life insurance - that's not such a good deal, and they are on commission to sell them.

[gwynt]

Hi

I pay circa 28%, on considerably more gross than you quote and living allowance is not taxed.

The tax system is basically the same as the UK in that if you are employed for only part of a tax year you are refunded any overpaid taxes during the next tax period.

Hope this helps

[Spoonman]

Car and housing allowances are taxed (well supposed to be anyways).

[smellyskater]

I'm also looking at how deductions are made. Back in the uk national insurance contributions are taken off. Is there something similar and if so how is it calculated?