Asia Expats Forum

Mike · Site Admin Joined: 07 Sep 2004 Posts: 4512 Location:

Pls be informed that ,The Revenue Department has just announced the New tax rate and deduction allowance
with retroactive to be effective from 1 January 2004 onwards as follows:

1.To adjust tax rate

Taxable Income (Baht)............. Previous Tax Rate(%) New Tax Rate (%)
0 - 80,000.........................0%............................0%
80,001 - 100,000......................5............................... 0
100,001 - 500,000................10...............................10
500,001 - 1,000,000 ................20...............................20
1,000,001 - 4,000,000...............30...............................30
4,000,001 up............................37...............................37

2. To add 5 New Allowances Deduction

2.1 Allowance for parents treatment (Valid only Thai nationality staff ) 30,000 Baht per person

2.2 Long Term Equity Fund (Actual but not exceed 15% of Total Annual Income and not exceed 300,000 Baht)

2.3 Donation to School in Thailand (2 times from actual but not exceed 10% of accessable income)

2.4 Donation to the victims of Tsunami disaster. (Actual but not exceed 10% of accessable income)

2.5 Donation to " The forest for the King Fund ". (Actual but not exceed 10% of accessable income)
_________________
Asia Expats Forum
Expat Friends Dating

21yearsinthai · Cohort Joined: 08 Sep 2004 Posts: 315 Location:

they have eliminated tax on salaries up to 100K thai baht per year--after exclusions of course. That will affect a lot of people-they're going to need it to pay off all their debt violent

Lius · Centurion Joined: 12 Oct 2004 Posts: 660 Location:

and no deduction for those between 100-500K?

The poor and the rich cannot be bothered about the rate of tax, only those in the middle income group. Making 260K pa while in Bangkok in very common. I forecast by March/April, those in the middle income group would suffer when oil prices are increased to reflect the real price of disel.