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Thailand Tax rates.

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Thailand Tax

How much ? Duty/Tax completes an outsider need to pay on his/her profit, and whether others, for example, computerized migrants, who are not as of now paying expense in their nation of starting point, need to pay tax in Thailand.

Duty law in Thailand is in reality quite confused, so in this post I’ll simply cover the need to know stuff.

I would like wise prompt that in the event that you aren’t on PAYE with an organization and are required to do your own arrival that you get a bookkeeper. Government forms need to detailed in Thai, which shows a dialect obstruction for some.

A Thai Company for the most part pays impose at 30% of Net benefit. In any case, a few kinds of organization are qualified for a rate reduction.

•  Small business with paid up capital less than 5 million baht

20% of Net profit < 1 million baht

25% of Net profit 1-3 million baht

•  Company registered in the Stock Exchange of Thailand (SET)

25% of Net profit < 300 million baht

•  Newly registered company in the stock exchange of Thailand (SET) and Market for alternative Investment (MAI)

25%of Net profit for newly registered company in SET

20% of Net profit for newly registered company in MAI

•  Bangkok International Banking Facility and Regional Operating Headquarters

10% of Net profit from qualified income

•  Association and foundation

2% or 10% on gross receipts

Withholding Tax


Types of income Withholding tax rate
1. Employment income 5 – 37 %
2. Rents and prizes 5 %
3. Ship rental charges 1 %
4. Service and professional fees 3 %
5. Public entertainer remuneration

–  Thai resident

–  non-resident

5 %

5 – 37%

6. Advertising fees 2 %

Personal Income Tax


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

 

Thailand Property Taxes (Condo, Villa, or House)


The following is an overview of property taxes in Thailand and how they are calculated. Please consult one of our property lawyers with regards to your property taxes in Thailand.

Tax Type

Tax Rate

Transfer fee

2% of the registered value of the property

Stamp Duty

0.5% of registered value. Only payable if exempt from business tax

Withholding Tax

1% of the appraised value or registered sale value of the property (whichever is higher and if the seller is a company). If the seller is an individual, withholding tax is calculated at a progressive rate based on the appraisal value of the property.

Business Tax

3.3% of the appraised value or registered sale value of the property (whichever is higher). This applies to both individuals and companies.

 

TAX WHICH PARTY
NORMALLY PAYS
AMOUNT
Transfer fee Buyer 2% of the registered value
Stamp Duty Seller 0.5% of registered value
Withholding Tax Seller 1% of appraised value or registered sale value (whichever is higher)
Business Tax Seller 3.3% of appraised value or registered sale value (whichever is higher)

 

Thank you information from The revenue department and siamrealestate.

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Sanya Jayalee

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