Reduced Personal Income Tax in 2017

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On 19 April 2016, The cabinet approved the restructuring of personal income tax for 2017 as proposed by the Finance Ministry. The following new personal income tax rates will apply in next year:

Tax rates

The tax rates for employment income and hire of work are as follows:

new PIT rate 2017

Deduction

Deduction against employment income 50% of assessable income but not more than 100,000 Baht

Allowances

The amount of assessable taxable income is net of allowances:

new PIT rate 2017 - allowance

 

Sources: http://www.bangkokpost.com/print/940601/

 

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