in Thailand - Personal
Income Tax Deductions
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.
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.
types of taxable income and the rate of standard deduction
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
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
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.
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.
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.
to Avoid Double Taxation
Thailand has treaty agreements to eliminate double taxation
with the following countries:
Australia, Bangladesh, Belgium, Canada, China, Czech
Rep., Denmark, Finland, France, Germany, Hungary, Indonesia,
Israel, Italy, India
Japan, Laos, Luxembourg, Malaysia, Mauritius, Nepal,
Netherlands, New Zealand, Norway, Pakistan, Philippines,
Poland, Romania, Singapore, South Korea, South Africa,
Spain, Sri Lanka, Sweden, United States, Vietnam, Switzerland,
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.
more information, please do not hesitate to CONTACT