Hope the OP has realized he will be paying some 30% in Thai income tax on that salary. That's going to hit the take home pretty hard.

A decent expat package, even a "local" expat one will have a tax equalization clause that pays the local income tax.

TH

nah bout 17%

Edited July 24, 20169 yr by Don Mega

A couple of other things :

Matched provident fund contribution ?

Annual leave entitlement ? This can be a lot lower than European expectations.

If you find you have spare cash available , use your LTF/RMF allowance to further reduce tax burden at higher brackets. (Company provident fund counts towards your RMF allowance.)

Hope the OP has realized he will be paying some 30% in Thai income tax on that salary. That's going to hit the take home pretty hard.

A decent expat package, even a "local" expat one will have a tax equalization clause that pays the local income tax.

TH

Rubbish! Total income of just under 2 mill baht, less personal allowances less deductions, estimate 18% tax as worst case.

Tax tables are here: http://www.rd.go.th/publish/6045.0.html

OP says it's 160k for 13 months plus 2+ month bonus. 15 x 160k = 2.4 mil. Even with deductions still going to be over the 2 mil 30% threshold.

He can get down below 2 mil to the 25% if he makes the max provident contribution.

No way he can get net income down below a million for 20%.

TH

Hope the OP has realized he will be paying some 30% in Thai income tax on that salary. That's going to hit the take home pretty hard.

A decent expat package, even a "local" expat one will have a tax equalization clause that pays the local income tax.

TH

Rubbish! Total income of just under 2 mill baht, less personal allowances less deductions, estimate 18% tax as worst case.

Tax tables are here: http://www.rd.go.th/publish/6045.0.html

OP says it's 160k for 13 months plus 2+ month bonus. 15 x 160k = 2.4 mil. Even with deductions still going to be over the 2 mil 30% threshold.

He can get down below 2 mil to the 25% if he makes the max provident contribution.

No way he can get net income down below a million for 20%.

TH

Income tax in Thailand is progressive. You pay the specified rate of tax for income within each tax bracket.

Not the highest tax bracket you qualify for on all income.

A couple of other things :

Matched provident fund contribution ?

Annual leave entitlement ? This can be a lot lower than European expectations.

If you find you have spare cash available , use your LTF/RMF allowance to further reduce tax burden at higher brackets. (Company provident fund counts towards your RMF allowance.)

What is probably also worth mentioning is that I never worked in Europe; the company hired me straight out of university into Asia-Pacific and therefore I unfortunately never enjoyed European annual leave entitlements. I will still be following Chinese annual/medical/compassionate leave entitlement which puts me into a better position than following local Thailand entitlement. I am getting wedding leave, paternal leave etc. which as far as I understand is not common in Thailand. Annual leave is 15 days and medical leave is 15 days too...however, I would not need to provide doctor's notes for the medical leave so if I were naughty you could basically see it as a total of 30 days leave.

I will be following the Thailand statutory holidays.

Edited July 27, 20169 yr by Sambora

and medical leave is 15 days too..

medical leave as in sick leave ?.

under Thailand Labour Law you should be getting 30 days.

Hope the OP has realized he will be paying some 30% in Thai income tax on that salary. That's going to hit the take home pretty hard.

A decent expat package, even a "local" expat one will have a tax equalization clause that pays the local income tax.

TH

Rubbish! Total income of just under 2 mill baht, less personal allowances less deductions, estimate 18% tax as worst case.

Tax tables are here: http://www.rd.go.th/publish/6045.0.html

OP says it's 160k for 13 months plus 2+ month bonus. 15 x 160k = 2.4 mil. Even with deductions still going to be over the 2 mil 30% threshold.

He can get down below 2 mil to the 25% if he makes the max provident contribution.

No way he can get net income down below a million for 20%.

TH

It doesn't work like that. Just a quick calculation with an income of 2.4 million total tax payable would be 458,000 baht or about 19% https://www.tiscoasset.com/en/asset/html/tax-calculator.jsp

Edited July 28, 20169 yr by RBOP

and medical leave is 15 days too..

medical leave as in sick leave ?.

under Thailand Labour Law you should be getting 30 days.

Agreed. In Thailand your allowance is 30 days. Your contract or company rules do not override Thai labour law.

It's the same thing with dismissal and severance pay: It's the Thai way.

Hope the OP has realized he will be paying some 30% in Thai income tax on that salary. That's going to hit the take home pretty hard.

A decent expat package, even a "local" expat one will have a tax equalization clause that pays the local income tax.

TH

Rubbish! Total income of just under 2 mill baht, less personal allowances less deductions, estimate 18% tax as worst case.

Tax tables are here: http://www.rd.go.th/publish/6045.0.html

OP says it's 160k for 13 months plus 2+ month bonus. 15 x 160k = 2.4 mil. Even with deductions still going to be over the 2 mil 30% threshold.

He can get down below 2 mil to the 25% if he makes the max provident contribution.

No way he can get net income down below a million for 20%.

TH

It doesn't work like that. Just a quick calculation with an income of 2.4 million total tax payable would be 458,000 baht or about 19% https://www.tiscoasset.com/en/asset/html/tax-calculator.jsp

I stand corrected. Never worried about Thai income tax calculation as it was always paid by employer. Just needed to know total for US foriegn tax credits.

TH

It's more than livable, particularly if you're with a partner on compatible income. You need to be very lucky or of top management to gain many of the package components these guys are talking about.

 

Beware, if you push too much, they'll find a local on half the salary to do it.

 

(coming from an early 30's professional in BKK)

Thank you all for your valuable feedback, much appreciated. I have accepted the offer and I am feeling good about it