How much Tax deduction / well enough salary

[abb]

Hi this is Sherry,,

I had a job offer from Thailand, they are offering me 65,000 thai bhat , my querry is that how much exact tax would be deducted ?

If this salary package is good or bad ? enough for a single person or not ? how much i can save ?

Waiting for your replies kindly tell me the current scenario pls.

Cheers.

[Soutpeel]

suppose the determination of whether this salary is good or bad depends on what the job is ?

as regards your tax use the search on TV the tax tables are posted

Edited February 28, 2015 by Soutpeel

[abb]

i am a computer graphics professional so that the job is for graphics and animation industry timing is [working hours] 9-7 plus saturdays and sundays depends upon projects ....i searched alot even on thai gov. forums but didnt understand about tax system in Thailand...... pls help........ i had to done it by night do tell me about the exact tax deduction if i get paid 65,000 thai bhat per month .....

[Soutpeel]

i am a computer graphics professional so that the job is for graphics and animation industry timing is [working hours] 9-7 plus saturdays and sundays depends upon projects ....i searched alot even on thai gov. forums but didnt understand about tax system in Thailand...... pls help........ i had to done it by night do tell me about the exact tax deduction if i get paid 65,000 thai bhat per month .....

15 second search on google for a computer illiterate like me sherry

these are p.a.

and in case you struggle with the arithmetic its 65k X 12 months ergo you will be paying around 20%

Edited February 28, 2015 by Soutpeel

[abb]

i am a computer graphics professional so that the job is for graphics and animation industry timing is [working hours] 9-7 plus saturdays and sundays depends upon projects ....i searched alot even on thai gov. forums but didnt understand about tax system in Thailand...... pls help........ i had to done it by night do tell me about the exact tax deduction if i get paid 65,000 thai bhat per month .....

15 second search on google for a computer illiterate like me sherry

these are p.a.

and in case you struggle with the arithmetic its 65k X 12 months ergo you will be paying around 20%

Capture5.PNG

dude that table i didn`t understand it in which category my salary lies ? i already saw this table but i wanted to ask ......thanks for the help anyways .......my employer says that u will get 55,000 (but no clue) on that how he is calculating can u help

Edited February 28, 2015 by Maestro
fixed quote tags

[paddyjenkins]

i am a computer graphics professional so that the job is for graphics and animation industry timing is [working hours] 9-7 plus saturdays and sundays depends upon projects ....i searched alot even on thai gov. forums but didnt understand about tax system in Thailand...... pls help........ i had to done it by night do tell me about the exact tax deduction if i get paid 65,000 thai bhat per month .....

15 second search on google for a computer illiterate like me sherry

these are p.a.

and in case you struggle with the arithmetic its 65k X 12 months ergo you will be paying around 20%

Capture5.PNG

dude that table i didn`t understand it in which category my salary lies ? i already saw this table but i wanted to ask ......thanks for the help anyways .......my employer says that u will get 55,000 (but no clue) on that how he is calculating can u help

Having read your posts i would say that, In your case, a salary of 65,000 per month would be excellent and you should take it, because i cant imagine many better opportunities will be coming your way

Edited February 28, 2015 by paddyjenkins

[Davidabroad]

and in case you struggle with the arithmetic its 65k X 12 months ergo you will be paying around 20%

Capture5.PNG

dude that table i didn`t understand it in which category my salary lies ? i already saw this table but i wanted to ask ......thanks for the help anyways .......my employer says that u will get 55,000 (but no clue) on that how he is calculating can u help

As said Soutpeel, you will earn 65,00 Baht per month, so 780,000 Baht per year (65,000 X 12). In the table you belong to the line: "More than 750,000 but less than 1,000,000" (this is for one year). Tax rate is 20% on this line.

I don't work in Thailand but is it your net salary or your gross salary? I suppose you also have to pay some contributions to the government. Other people will be able to tell you.

[Soutpeel]

and in case you struggle with the arithmetic its 65k X 12 months ergo you will be paying around 20%

Capture5.PNG

dude that table i didn`t understand it in which category my salary lies ? i already saw this table but i wanted to ask ......thanks for the help anyways .......my employer says that u will get 55,000 (but no clue) on that how he is calculating can u help

As said Soutpeel, you will earn 65,00 Baht per month, so 780,000 Baht per year (65,000 X 12). In the table you belong to the line: "More than 750,000 but less than 1,000,000" (this is for one year). Tax rate is 20% on this line.

I don't work in Thailand but is it your net salary or your gross salary? I suppose you also have to pay some contributions to the government. Other people will be able to tell you.

its based on gross...pre-tax

as regards Government contribution there is typically THB 750/m deduction for the welfare fund

so

65k/m - thb 750 = 64250 - 20% (12850) = THB 51400

you employer is not that that far out by stating THB 55k net

[abb]

and in case you struggle with the arithmetic its 65k X 12 months ergo you will be paying around 20%

Capture5.PNG

dude that table i didn`t understand it in which category my salary lies ? i already saw this table but i wanted to ask ......thanks for the help anyways .......my employer says that u will get 55,000 (but no clue) on that how he is calculating can u help

As said Soutpeel, you will earn 65,00 Baht per month, so 780,000 Baht per year (65,000 X 12). In the table you belong to the line: "More than 750,000 but less than 1,000,000" (this is for one year). Tax rate is 20% on this line.

I don't work in Thailand but is it your net salary or your gross salary? I suppose you also have to pay some contributions to the government. Other people will be able to tell you.

its based on gross...pre-tax

as regards Government contribution there is typically THB 750/m deduction for the welfare fund

so

65k/m - thb 750 = 64250 - 20% (12850) = THB 51400

you employer is not that that far out by stating THB 55k net

Thanks for the replies guys but 20% oops its too much how can i save .......need to save atleast 40ks bhat a month ...how can i survive in 10k bhat a month .......

Edited February 28, 2015 by Maestro
fixed quote tags

[Don Mega]

780000 gross income.

- 9000 social security.

- 90,000 allowances and deductions (single person no dependents)

= 681000 taxable income.

0 to 150,000 = 0 tax

150,000 to 300,000 = 7500 tax

300,000 to 500,000 = 20,000 tax

remaining 181,000 = 27,150 tax.

Total yearly tax = 54650.

Monthly tax = 4554 (about 7% of the monthly 65,000 salary).

Net salary = 60,446.

Edited February 28, 2015 by Don Mega

[Soutpeel]

780000 gross income.

- 9000 social security.

- 90,000 allowances and deductions (single person no dependents)

= 681000 taxable income.

0 to 150,000 = 0 tax

150,000 to 300,000 = 7500 tax

300,000 to 500,000 = 20,000 tax

remaining 181,000 = 27,150 tax.

Total yearly tax = 54650.

Monthly tax = 4554 (about 7% of the monthly 65,000 salary).

Net salary = 60,446.

what is the 90k in allowances ? if married with kids can see this, but not single with no kids

Edited February 28, 2015 by Soutpeel

[Don Mega]

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

[Ludacris]

I can confirm Don's numbers.

Southpeel, yes you are a senior poster on here and I respect a lot of your posts, but please do not post about something you have absolutely no clue about.

To the OP, with your salary you should have a look at LTF's and RMF's- tax deductible investments that you can invest up to 30% of your total salary.

That would reduce your taxes to about 22,000B annually or about 3% overall.

You can google LTF or RMF or search this forum for more info.

[abb]

Thanks alot to all ! would tell my employer about the tax amount

Don Mega calculated !

[Ludacris]

You're welcome.

Just remember that what your employer deducts for taxes is almost irrelevant because when you file your taxes you will either get a refund if your employer took out too much, or you will have a balance owing if they took out too little.

Either way it all evens out in the end to the exact amount you are supposed to pay.

[abb]

One more query is....... how much time required to be a citizen of Thailand ? when to apply for the permanent residence visa i mean to ask ?

[Soutpeel]

I can confirm Don's numbers.

Southpeel, yes you are a senior poster on here and I respect a lot of your posts, but please do not post about something you have absolutely no clue about.

To the OP, with your salary you should have a look at LTF's and RMF's- tax deductible investments that you can invest up to 30% of your total salary.

That would reduce your taxes to about 22,000B annually or about 3% overall.

You can google LTF or RMF or search this forum for more info.

Your right, I should stay out of these things, just trying to be helpful, but then again in my defense I do work here, but don't have to worry about tax tables as my employer pays my income tax...

[Soutpeel]

One more query is....... how much time required to be a citizen of Thailand ? when to apply for the permanent residence visa i mean to ask ?

if your not married to a Thai citizen, you need to be employed on an extension of stay for at least 3 years continuously and paying tax at the point you can apply for PR,

but there is no guarantee your will be given PR, its only handed out to so many people of specified nationalities

BTW PR is not a visa

[abb]

THNx again

Soutpeel

[GanDoonToonPet]

780000 gross income.

- 9000 social security.

- 90,000 allowances and deductions (single person no dependents)

= 681000 taxable income.

0 to 150,000 = 0 tax

150,000 to 300,000 = 7500 tax

300,000 to 500,000 = 20,000 tax

remaining 181,000 = 27,150 tax.

Total yearly tax = 54650.

Monthly tax = 4554 (about 7% of the monthly 65,000 salary).

Net salary = 60,446.

All your figures agree with mine except I get a net salary of 59696. I think you forgot to take off the monthly social security contribution.

[abb]

And what will be the monthly budget including rent plus bills i would be renting a room with bath how much it would be ? also tell me the law and order situation in BKK ? is it safe to travel by foot with your phone and laptop ? how is the whether there ? is it necessary to learn THAI language? is the food is expensive there ? do Thai peeps like foreigners ?

[Don Mega]

780000 gross income.

- 9000 social security.

- 90,000 allowances and deductions (single person no dependents)

= 681000 taxable income.

0 to 150,000 = 0 tax

150,000 to 300,000 = 7500 tax

300,000 to 500,000 = 20,000 tax

remaining 181,000 = 27,150 tax.

Total yearly tax = 54650.

Monthly tax = 4554 (about 7% of the monthly 65,000 salary).

Net salary = 60,446.

All your figures agree with mine except I get a net salary of 59696. I think you forgot to take off the monthly social security contribution.

I calculated the social security.... second line to my post ( - 9000 social security).

This online tax calculator also confirms my numbers.

http://www.asokdirectory.com/guide/ManagerGuide/PersonalIncomeTax.php

Edited February 28, 2015 by Don Mega

[GanDoonToonPet]

780000 gross income.

- 9000 social security.

- 90,000 allowances and deductions (single person no dependents)

= 681000 taxable income.

0 to 150,000 = 0 tax

150,000 to 300,000 = 7500 tax

300,000 to 500,000 = 20,000 tax

remaining 181,000 = 27,150 tax.

Total yearly tax = 54650.

Monthly tax = 4554 (about 7% of the monthly 65,000 salary).

Net salary = 60,446.

All your figures agree with mine except I get a net salary of 59696. I think you forgot to take off the monthly social security contribution.

I calculated the social security.... second line to my post ( - 9000 social security).

This online tax calculator also confirms my numbers.

http://www.asokdirectory.com/guide/ManagerGuide/PersonalIncomeTax.php

That calculator doesn't ask about Social Security contributions. You've taken it into account for the taxable income but he also has to pay the contribution as well.

BTW, I used my own spreadsheet to calculate it. Well, not my own exactly, I downloaded it from here & modified it for the new tax rates.

[abb]

And what will be the monthly budget including rent plus bills i would be renting a room with bath how much it would be ? also tell me the law and order situation in BKK ? is it safe to travel by foot with your phone and laptop ? how is the whether there ? is it necessary to learn THAI language? is the food is expensive there ? do Thai peeps like foreigners ?........anyone ?

[Ludacris]

You can only deduct a maximum of 7200 for social security contributions.

I didn't think plus or minus a few baht is important, but if you insist the exact numbers are as follows...

780,000 gross income

682,800 taxable income (90,000 personal deductions & 7200 social security)

54,920 annual tax

60,423 net monthly

[abb]

anyone about living expenses there ?

[paddyjenkins]

And what will be the monthly budget including rent plus bills i would be renting a room with bath how much it would be ? also tell me the law and order situation in BKK ? is it safe to travel by foot with your phone and laptop ? how is the whether there ? is it necessary to learn THAI language? is the food is expensive there ? do Thai peeps like foreigners ?........anyone ?

I can help with a few of these questions. Wether wise it is on the cool side, people usually wear a jacket and hat. There is no need to learn Thai as English is more or less the main language used. As for liking foreigners, i would say no, not at all, but it really depends on what kind of foreigner. Im a foreigner and they generally dislike me, but on the other hand I've found that to be the case everywhere. It really just depends. Rent wise a room with bath is 8000 baht per month.

[55Jay]

And what will be the monthly budget including rent plus bills i would be renting a room with bath how much it would be ? also tell me the law and order situation in BKK ? is it safe to travel by foot with your phone and laptop ? how is the whether there ? is it necessary to learn THAI language? is the food is expensive there ? do Thai peeps like foreigners ?........anyone ?

I can help with a few of these questions. Wether wise it is on the cool side, people usually wear a jacket and hat. There is no need to learn Thai as English is more or less the main language used. As for liking foreigners, i would say no, not at all, but it really depends on what kind of foreigner. Im a foreigner and they generally dislike me, but on the other hand I've found that to be the case everywhere. It really just depends. Rent wise a room with bath is 8000 baht per month.

I would only add that it is completely safe to travel by foot with a laptop, but if you have a laptop and a phone, things can get pretty dicey. Especially on Soi 3.

[GanDoonToonPet]

You can only deduct a maximum of 7200 for social security contributions.

I didn't think plus or minus a few baht is important, but if you insist the exact numbers are as follows...

780,000 gross income

682,800 taxable income (90,000 personal deductions & 7200 social security)

54,920 annual tax

60,423 net monthly

Your figure of 7200 is based on the 2013 maximum contribution of 600 per month.

BTW some of us do care about a few baht. Better in our pocket than theirs.

Edited February 28, 2015 by GanDoonToonPet

[abb]

ThnX

paddyjenkins

lets see !