Personal Income Tax Calculation Thailand

Income

Personal expense for deduction

Personal expense


Insurance


Investment


Shopping


Donation



  • Year income : 360000
  • Deductible expenses : 100000
  • Net Taxable income :260000
  • Total deduction : 0
  • Net Taxable income : 260000

Tax Calculation

Range of Net Income Net Income Tax Rate Tax Amount
Min Max
1 150,000 0 0% 0
150,001 300,000 0 5% 0
300,001 500,000 0 10% 0
500,001 750,000 0 15% 0
750,001 1,000,000 0 20% 0
1,000,001 2,000,000 0 25% 0
2,000,001 5,000,000 0 30% 0
> 500,0001 - 0 35% 0
0 0
  • Total taxable income : 0 / year
  • Total taxable income : 0 / month

TAXABLE PERSON / INCOME TYPE & DEDUCTION / TAX RATE

(1) TAXABLE PERSON
● A resident will be taxable on income from all sources in Thailand on a cash basis regardless of where the money is paid, and on the portion of income that is brought into Thailand in the same year that it is earned.
● A non-resident is only taxable on income from sources in Thailand. (Person residing in Thailand for a period or periods aggregating more than 180 days in any tax (calendar) year.)
● Taxable income covers both cash and benefits in kind and includes income from employment, hire of work, receipts from copyright, interest, dividends, capital gains and the letting of property.

(2) INCOME TYPE & DEDUCTION

Income type Deduction from Income subjected to Tax
1. Salary, Wage, Bonus, Fixed allowance
2. Income from personal services rendered to employers
50% not over 100,000 Baht
: Combining Income type 1 & 2
: Deduction must not exceed 100,000 Baht
3. Income from goodwill, copyright, franchise, other rights 50% not over 100,000 Baht
4. Income from annuity or income in the nature of yearly payments
: Dividends, interest on deposits with banks in Thailand
: Shares of profits or other benefits from a juristic company
: Juristic partnership, or mutual fund, payments received as a result of
the reduction of capital, a bonus, an increased capital holdings,
gains from amalgamation, acquisition or dissolution of juristic
companies or partnerships, and gains from transferring of shares or partnership holdings
Undeductable
income from letting of property and from breaches of contracts,
installment sales or hire-purchase contracts:
– Residential properties
– Agricultural
– Land
– Vehicle
– Other assets
Actual or lumsum of
: 30%
: 20%
: 15%
: 30%
: 10%
6. Income from liberal professions
– Art, Law, Enginering, Architect, Accounting
Actual or lumsum of
: 60%
: 30%
7. Contractor services Actual or lumsum 60%
8. Other income type apart from items 1-7 * Actual or lumsum 40% and 60%

(3) TAX RATE
Progressive personal income tax rates applicable to taxable income are as follow

Range of net Income Tax Rate
Min Max
1 150,000 0%
150,001 300,000 5%
300,001 500,000 10%
500,001 750,000 15%
750,001 1,000,000 20%
1,000,001 2,000,000 25%
2,000,001 5,000,000 30%
> 500,0001 35%