Personal Income Tax

[J3nny82]

I have do some research of Taxation. Country Malaysia, Japan and Thailand taxation need to payable is almost equal one month income have to payable by tax per year. Which means 12month salary need pay out one month to Income Tax Department. But once over 50,00baht per month, Thailand will chargeble 20%!!! means need pay out at least two month salary per year. Because my employee some not thais, so they din't allow to exempt spouse,children,etc.

Is that really need pay 20% of the Personal Income Tax. Which means have two month work is work for Goverment.

Edited May 4, 2006 by J3nny82

[Tywais]

I have do some research of Taxation. Country Malaysia, Japan and Thailand taxation need to payable is almost equal one month income have to payable by tax per year. Which means 12month salary need pay out one month to Income Tax Department. But once over 50,00baht per month, Thailand will chargeble 20%!!! means need pay out at least two month salary per year. Because my employee some not thais, so they din't allow to exempt spouse,children,etc.

Is that really need pay 20% of the Personal Income Tax. Which means have two month work is work for Goverment.

It's not a flat 20% when you are making 50k but a sliding scale. The first 100k is not taxed, the 100k-500k is at 10% then 500k to 1Mil is 20%. So in this example subract the first 100k and you have 400k to pay tax and not reach the 20% plus subract the allowances (30k single).

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

[skippybangkok]

Goes to 30% as you slide up the scale ( or something close to that)

[simontee]

Sawasdee krap.

I am confused with the Thai Personal Income Tax calculation.

Appreciate if you could assist me with an a quick assessment of my tax if my income as follows :-

Salary : THB 156,000 per month

Married with no children.

Kindly provide me an estimation of the taxable amount i need to pay.

Khorb khun mak krap for all the assistance.

Regards,

Simon Tee

[Tywais]

Kindly provide me an estimation of the taxable amount i need to pay.

Khorb khun mak krap for all the assistance.

Regards,

Simon Tee

My calculations come out to 473,600 Baht total for the year or 39,467 Baht/month.

This includes 60,000 standard deduction

and 60,000 (30,000 x 2) for dependant deduction.

There are also deductions for automobile and life insurance.

Edited May 20, 2006 by tywais

[simontee]

tywais,

Thanks for your calculation and assistance.

I'm surprised that the personal income tax in Thailand is so much higher than in Malaysia and Singapore which I have been working for the past 10 years.

Thanks again for the advise.

It seems I have to negotiate with my company on my package in Thailand.

cheers !!

[cclub75]

Be happy and enjoy.

If you were living and working in Europe... you would appreciate the thai rates !

Don't forget that a country like Germany (or France) has created what they call "fiscal shield".

It's a mechanism that set a "maximum" of direct taxes (social taxes are excluded) paid by an individual, in percentage of his total income...

in France it's... 60 % !

But why they call such a monster a "fiscal shield". Guess it : because before, you could be taxed of 80% of your income !! Or even 100 %.

I know it sounds crazy, but this is the reality of dying Old Europe.

So 30 % in Thailand... it's sabai sabai.

tywais,

Thanks for your calculation and assistance.

I'm surprised that the personal income tax in Thailand is so much higher than in Malaysia and Singapore which I have been working for the past 10 years.

Thanks again for the advise.

It seems I have to negotiate with my company on my package in Thailand.

cheers !!

[jdinasia]

so ... on 60k a month ..... that's 720 a year .....

1st 100k =0

next 500k=50k

last 120k=24k

74k for the year at roughly 6k a month .... not counting any exemptions?

[Tywais]

so ... on 60k a month ..... that's 720 a year .....

1st 100k =0

next 500k=50k

last 120k=24k

74k for the year at roughly 6k a month .... not counting any exemptions?

720,000 (60,000 x 12)

-60,000 Standard deduction

-30,000 Dependant deduction (yourself)

----------

630,000

-100,000

-----------

530,000

400,000 x .1 = 40,000

----------

130,000 x .2 = 26,000

40,000 + 26,000 = 66,000 total /12 = 5500/month

[jdinasia]

cool ... pretty cheap ... of course for the guys whingeing about 2 tier pricing the tax is a bit more than paying the extra

[Tywais]

cool ... pretty cheap ... of course for the guys whingeing about 2 tier pricing the tax is a bit more than paying the extra

I'm pretty satisfied with the tax liabilities here as compared to back home.

[bendix]

And it's 37% for earnings over 4,000,000 a year or 333,333 baht per month.

[pol123]

Personal Income Tax (Effective Jan. 1, 2002)

Level of taxable income (baht) Marginal Tax Rate

0 - 80,000 exempt

80,001 - 100,000 5%

100,001 - 500,000 10%

500,001 - 1,000,000 20%

1,000,001 - 4,000,000 30%

over 4,000,000 37%

"...but this is the reality of dying Old Europe" I am agree with you ! i'm in france, it's the beginning of the end.... ....

Edited July 7, 2006 by pol123

[pol123]

hum... I live in France and i just maka an calcul with this model :

720,000 (60,000 x 12)

-60,000 Standard deduction

-30,000 Dependant deduction (yourself)

----------

630,000

-100,000

-----------

530,000

400,000 x .1 = 40,000

----------

130,000 x .2 = 26,000

40,000 + 26,000 = 66,000 total /12 = 5500/month

but with mine : 1367 €/mouth ... well i have a taxe around 81982 bath = 1680.22 €, and i paid in here ( in france ) 1230 € ! ... France is less expensive than Thailand ??!! i'm really really worried ...