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Taxation
in Thailand - Personal
Income Tax
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Every
person, resident or non-resident, who derives assessable
income from employment of business in Thailand, or has
assets located in Thailand, is subject to personal income
tax, whether such income is paid in or outside of Thailand.
Exemption is granted to certain persons, including United
Nations' officers, diplomats and certain visiting experts,
under the terms of international and bilateral agreements.
Personal
income tax is applied on a graduated scale as follows:
Net
Annual Income (in Thai Baht) & Tax rate
::
0 - 50,000 = 0 %
::
50,001 - 100,000 = 5 %
::
100,001 - 500,000 = 10 %
::
500,001 - 1,000,000 = 20 %
::
1,000,001 - 4,000,000 = 30 %
::
4,000,001 = up to 37 %
Individual taxpayers are divided into 5 categories:
::
Natural
person
::
An
ordinary partnership
::
A group of persons which is not a legal entity
::
A person who dies during a tax year
::
An undistributed estate
Individuals
residing for 180 days or more in Thailand during any
calendar year are also subject to income tax on income
from foreign sources if that income is brought into
Thailand during the same taxable year of their being
resident in Thailand, even though they may be aliens
and are not staying in Thailand under an Immigrant Visa.
Exchange
control laws stipulate that all foreign exchange earned
by a resident, whether or not derived from employment
or business in Thailand, and brought into Thailand,
must be sold to or deposited with commercial banks within
15 days, unless permission for an extension is granted.
A
non-resident is a Thai or an alien who resides in Thailand
for one or more times but for less than a total of 180
days in any calendar year. His tax liability is limited
to the income received;
::
From a post or office held in Thailand;
::
from a business carried on in Thailand;
::
from a business of an employer in Thailand;
::
from
a property situated in Thailand;
whether
such income is paid within or outside Thailand and whether
or not he brings it into Thailand.
Payment
of personal income tax may be made under one of the following
methods:
::
Withholding
Income Tax
::
Payment
of tax before its due date
::
Payment
of tax on its due date
:: Joint tax liability
::
Assessment
by tax authorities
If
a tax payer has overpaid his tax by either direct payment
or tax deduction, he is entitled to request a refund
from Revenue Department on the excess amount, provided
that he files a claim for the refund (form 'Khor 10')
with the tax authority within 3 years.
Personal
income taxes and tax returns must be filed prior to
the end of March of the year following the year in which
the income was earned.
For
more information, please do not hesitate to CONTACT
US.
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