Personal Tax Rates
May 15th, 2010
PERSONAL INCOME TAX is applied on a graduated scale as follows;
|Net Annual Income (Baht)||Tax Rate|
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’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|