FAT_AUSSIE Posted April 30, 2006 Report Share Posted April 30, 2006 Can someone provive a brief overview of the Thai income tax payable by Thai's. Is it a tiered system? is marital status an issue? are there any sort of thresholds? If my wife was to earn an income, have funds credited to her Thai bank acc, what sort of tax are we liable to pay? Link to comment Share on other sites More sharing options...
khunsanuk Posted April 30, 2006 Report Share Posted April 30, 2006 Hi, "Is it a tiered system?" Yes. "is marital status an issue?" Yes. "are there any sort of thresholds?" Yes, first 60K is free. Deductions can be made for spouse, children, life insurance. "If my wife was to earn an income, have funds credited to her Thai bank acc, what sort of tax are we liable to pay?" Depends on how much she earns I guess. Sanuk! Link to comment Share on other sites More sharing options...
.. Posted April 30, 2006 Report Share Posted April 30, 2006 A prgressive rate as follows: first B50K = Exempt, then next B50K - 100K = 5%, then next B100K - 500K = 10%, then next B500K - 1M = 20%, then next B1M - 4M = 30%, and anything over B4M = 37% Not many deductions. B30K for you, B30K for your spouse, B15K for each kid up to a max of three; charitable deductions up to 10% of income at face value. That's about it. Cheers, SD Link to comment Share on other sites More sharing options...
FAT_AUSSIE Posted April 30, 2006 Author Report Share Posted April 30, 2006 Thanks heaps guys, 30-37% beats what we pay here in Oz. By a long run. In Australia when a person starts to earn income they need to apply for a tax file number, once they have it this number is kept for life, this is I guess like your file with the ATO. A return gets loged once a year by usually an accountant and you will either be presented with a bill or a refund(dep on yr situation) Is it a simmilar situation with Thai's? I have never really noticed any accounting practices in Uttaradit. My wife has never earnt an income before and never paid tax, would she need to register herself with the revenue department? Also-are there any surcharges or levies. seems like quite a straight forward tax rate, im surprised! Link to comment Share on other sites More sharing options...
RayRay Posted April 30, 2006 Report Share Posted April 30, 2006 I am far from an expert on Thai tax law but I have a wee bit of information with regards to filing a return or whatnot. Our company employs about 70 Thai nationals. The accounts department prepares a statement for each of them stating their yearly income, etc. I assume this is what the employees use to settle their claims with the tax authorities. I'm not sure if many companies do this for their employees or not. If so then that would help explain the lack of accounting services. Link to comment Share on other sites More sharing options...
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