Personal Income Tax
What is due for Personal Income Tax in Thailand?
Personal Income Tax (PIT) is a tax directly collected on the revenue of a Thai tax residents
A Thai tax resident is a person living in Thailand more than 180 days per year. A Thai resident has therefore the obligation de declare the totality of its income on the Thai territory without consideration of his permanent status under the immigration requirements. On the other hand, a person who has lived less than 180 days per year in the Kingdom of Thailand is considered as a non-resident by tax authorities. However, a non-resident has the obligation to declare incomes derived from a source in Thailand.
Personal Income Tax in Thailand
Assessable incomes for PIT purposes are:
- Income rewarding professional services rendered to your employer (wages and salaries, stock options, fringe benefits)
- Incomes yearly paid and derived from a will or any judgment or act, goodwill, franchise, copyright, other rights.
- Interests earned from Thai banks, dividends, shares of profits, any kind of personal benefit from a juristic partnership, a juristic company or a mutual fund.
- Payments received following the reduction of a own capital, bonuses, an increase of capital holdings.
- Income received from breaches of contracts.
- Income from liberal professions.
- Incomes from the letting of property, leases, installment sales, hire-purchase agreements.
- Any other income from commerce, industry, agriculture, transportation services.
- Income from any other activity not mentioned above.
|Taxable Income (Baht)|
|150,001 – 300,000||5%|
|300,001 – 500,000||10%|
|500,001 – 750,000||15%|
|750,000 – 1,000,000||20%|
|1,000,001 – 2,000,000||25%|
|2,000,001 – 5,000,000||30%|
Allowances and Deductions
- Expenses: 40% not over THB 60,000.00
- Personal Allowance: THB 30,000.00
- Spouse Allowance not working: THB 60,000
- Child allowance: THB 30,000.00 per child, under 20 years old working or not or under 25 years old and studying at university whatever the country. There is not limitation with the number of children. Even if the 2 parents have an income both can claim 30,000 THB per child.
- Support of a disabled person with an income not more than 30,000 THB: 60,000 THB
- Parents of more than 60 years old, working with an income less than 30,000 THB: THB 30,000.00
- Retirement mutual fund: payments up to THB 500,000 but not over than 15% of wages.
- Health Insurance for the parents of the tax payers: up to 15,000 THB in total
- Thai Life-Insurance with a minimum length of 10 years: up to THB 100,000.00
- Pension life insurance premium in Thailand: not more than 15% of assessable incomes or not more than 200,000 THB National Saving fund, government pension fund, private teacher fund: not more than 500,000 THB.
- Long-term equity fund: payments up to THB 500,000 but not over than 15% of wages.
- Provident fund: up 500,000 THB.
- Mortgage Interests: Up to THB 100,000.00
- Social Security contributions
- Donation to recognized charities: up to 10% of assessable incomes after deductions and allowances.