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Understanding LTF and RMF tax deductable amount


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Please correct me if I am wrong, and see question below:

  • Tax deductible amount for LTF = 500,000bht or 15% of income, which ever is lower
  • Tax deductible amount for RMF + Provident Fund = 500,000bht or 15% of income, which ever is lower

Potential total tax deduction can be 30% of income or 1 million baht, which ever is lower (LTF+RMF+Provident Fund)

Question:

How is income defined? Is it only off your base salary, or does it include all taxable income (e.g. annual bonus, commissions, etc)?

Much appreciated. wai.gif

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