Personal Tax Rates

May 15th, 2010

PERSONAL INCOME TAX is applied on a graduated scale as follows;

Net Annual Income (Baht) Tax Rate
0 150,000 0%
150,001 500,000 10%
500,001 1,000,000 20%
1,000,001 4,000,000 30%
4,000,001 over 37%

Other types of taxable income and the rate of standard deduction include:
. Interest, dividends, capital gains on the sale of securities: Forty percent but not exceeding 60,000 baht.
. Rental income: Ten percent to 30 percent depending on type of property leased.
. Professional fees: Sixty percent for income from medical practice, 30 percent for others.
. Income derived by contractors: Seventy per cent.
. Income from other business activities: Sixty-five percent to 85 percent depending on the nature of the business activity.

The following annual personal allowances are permitted:

Taxpayer THB 30,000
Taxpayer’s spouse THB 30,000
Each child’s education THB 15,000 (limit 3)
For taxpayer contributions to an approved provident fund THB 10,000
For taxpayer and spouse for interest payments on loans for purchasing, hire-purchasing or construction of residential buildings THB 10,000
For taxpayer and spouse with respect to contributions to Social Securities Fund Actual contribution not more than 10% of adjusted income
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