A standard deduction of 40 percent, but not in excess of 60,000 Baht, is permitted against income from employment or services rendered or income from copyrights.

Standard deductions ranging from 10 percent to 85 percent are allowed for other categories of income. In general, however, taxpayers may elect to itemize expenses in lieu of taking standard deductions on income from sources specified by law.

Other types of taxable income and the rate of standard deduction include:
:: Interest, dividends, capital gains on the sale of securities: 40% percent, but not exceeding 60,000 Baht.
:: Rental income: 10 - 30 percent depending on type of property leased.
:: Professional fees: 60 percent for income from medical practice, 30 percent for others.
:: Income derived by contractors: 70 percent.
:: Income from other business activities: 65 percent to 85 percent, depending on the nature of the business activity.
Only three children per taxpayer family qualify for the child allowance, but this limitation applies only to children born on or after January 1, 1979.

Therefore, in counting the number of children, each child born prior to 1979 can also be counted. For example, a taxpayer with four children born before 1979 continues to qualify for an aggregate allowance of 60,000 Baht. A fifth child, born in 1979 or thereafter, would not qualify.

Additional taxes can be assessed within a period of 2 years from the date of filing a return and up to 5 years for tax evasion or tax refund. If an individual fails to file a return, the assessment officer may issue summons within a period of 10 years the filing due date.

Treaties to Avoid Double Taxation
Thailand has treaty agreements to eliminate double taxation with the following countries:

The treaties generally place tax payers in a more favorable position for Thai income than they would be under the Revenue Code, as profits will only be taxable if the taxpayer has a permanent establishment in Thailand.

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