News

14
Jun
2013

Thailand’s Economic Outlook – Fiscal Policy Office increases Thai GDP 2013 projection to 5.3%

In Thailand’s Economic Projection for 2013 (as of March 2013), Mr. Somchai Sujjapongse, director general of the Fiscal Policy Office, announced that the Thai economy in 2013 is expected to grow steadily, by 5.3 percent (the average of the expected range of 4.8 – 5.8 percent). This projection is an increase from the December 2012 projection of (5%) due to an expansion in domestic spending, especially goods consumption, the main driver of the economic expansion. Private consumption Mr. Somchai indicated, was expanding due to the measure to increase income, such as the increase in the minimum wage to 300 baht nationwide and the rice-pledging project.

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27
May
2013

FLT Article read more than 10,000 times on Thaivisa

An article written by Fabian Doppler has been published in the Phuket News and subsequently posted on Thaivisa.com (by admin staff of Thaivisa). The article was very well received with 67 (very positive) replies and so far more than 10,000 views. Please see the respective link as follows:

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06
Mar
2013

Personal Income Tax rates reduced effective 2013

On 18 December 2012, the Thai cabinet approved reductions of the personal income tax rates, to take effect in the beginning of the fiscal year 2013.

The previously five income tax brackets are being expanded into now eight brackets by adding tax rates of 5%, 15%, and 25%. The top marginal tax rate decreases slightly, from previously 37% to now 35%. This applies for net taxable income of THB 4 million or more. The tax exemption for low salaries of less than THB 150,000 remains as it is.

This is the first major change of PIT rates since approximately 20 years. According to the Bangkok Post, details of the new tax rates are as follows:

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13
Feb
2013

How to will your Thai Property

For many people, estate planning and the preparation of the last will and testament is a dreaded thought and something that is rather avoided. However, it is certainly advisable to settle such affairs, and this holds true in particular if you have property in Thailand.
Phuket News - The Importance of Preparing a Thai Will_Page_1

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