Tag Archive: income

  1. Tax Break for Personal Income Tax Submission 2017

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    The below tax deduction list will aid you in submitting your 2017 personal income tax (PND90, 91). The submission window is open from 1 January 2018 – 31 March 2018.

    We recommend our clients that preparations should be made in a timely fashion and the filings should be submitted by the end of next month.

    When you file your returns, the correct taxable income has to be reported. This includes any income from a source in Thailand (in particular related to your Thai employment), regardless of where it was paid in or if you’re a resident of Thailand. Hard copies of personal income tax returns must be filed with the Revenue Department by March 31, while e-filing can be done up to April 9.

    Our office would be pleased to assist you with the submission of a personal income tax return.

    Tax break for “Personal / Family”

    Personal allowance 60,000 THB
    Spouse allowance 60,000 THB
    Child allowance

    • Now, people can claim for child allowance for an unlimited number of children. Previously, people could claim for up to three children.
    • The previous child’s education allowance was cancelled. People cannot use it for tax deduction anymore.
    30,000 THB
    Parent allowance (spouse’s parent allowance)

    • Total allowance amount cannot be over 120,000 THB
    • Age of the parent must be over 60 years old and income not over 30,000 THB per year.
    30,000 THB / person
    Parent insurance allowance

    • Income more than 30,000 THB per year
    Not more than 15,000 THB
    Handicap allowance

    • Income more than 30,000 THB per year
    60,000 THB / person


    Tax break to support “Saving and Investment”

    Social security fund Not more than 9,000 THB
    Life insurance of the taxpayer

    • Health insurance is not over 15,000 THB
    Not over 100,000 THB
    Life insurance of spouse of the taxpayer

    • The spouse has no income
    Not over 10,000 THB
    15% of LTF mutual fund Not over than 500,000 THB
    Any of the following items as one group: 

      • Contribution to provident fund
      • Contribution to government pension fund
      • Contribution to private school teacher fund
      • Contribution to national saving fund
      • Life insurance premium calculated from 15% of income but not over 200,000 THB
    • RMF provident fund calculated from 15% of taxable income
    not over than 500,000 THB

    Tax break for “Asset and stimulus package of the Government”

    Interest of residence loan not over 100,000 THB
    Property purchase

    • 20% of the purchase price not over 3 MB for 5 years
    not over 120,000 THB
    Cost of house repairs due to flood not over 100,000 THB
    Cost of car repairs due to flood not over 300,000 THB
    Shopping tax break

    • Purchase of selected goods and service from 11 November – 3 December 2018.
    not over 15,000 THB

    Tax break for Donations

    • Donation for education/sports can double deduct tax but not exceed 10 percent of net profit
    • Donation for flood can deduct 1.5 percent tax but not exceed 10 percent of net profit
    • General donations amount to not over 10 percent of net profit

    For further information please do not hesitate to contact us [email protected]

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


    The amount of assessable taxable income is net of allowances:

    new PIT rate 2017 - allowance


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


  3. Personal Income Tax rates reduced effective 2013

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    On 18 December 2012, the Thai cabinet approved reductions of the personal income tax rates, to take effect at 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 for approximately 20 years. According to the Bangkok Post, details of the new tax rates are as follows:

    Accordingly, the changes will reduce tax rates for individual taxpayers in all brackets and are expected to cut the government’s tax revenue by THB 25 Billion in the fiscal year 2013. The reduction is aimed at increasing consumption and boosting the domestic economy in the long run. The opposition Democrat party, however, criticized the changes as being tax cuts for the rich.

    The income tax overhaul will also allow married couples to file their tax returns separately, a move that will save households money, but will trim around THB 7 Billion from government revenues.

    A legislative act to amend the Revenue Code will have to be passed by the parliament within March 2014, so that the new rates can take effect for the 2013 tax return to be filed in 2014.