Reduced personal income tax rates extended

On 10 November 2015, the cabinet extended the deadline for using the current, reduced personal income tax rates for another year - to the end of 2016. These rates were set to expire at the end of 2015.

Keywords: Mazars, Thailand, Payroll, Personal Income Tax, Royal Decree no. 575

18 December 2015

The current personal income tax rates ware published in Royal Decree no. 575 on 23 December 2013, which increased the number of tax brackets from five to eight. The eight tax brackets are set out in the table below.

Annual Net Income

(in Thai baht)

Marginal Tax Rate

Tax Payable

(in Thai baht)

0 – 150,000 Exempt -
150,001 – 300,000 5% 7,500
300,001 – 500,000 10% 27,500
500,001 – 750,000 15% 65,000
750,001 – 1,000,000 20% 115,000
1,000,001 – 2,000,000 25% 365,000
2,000,001 –  4,000,000 30% 965,000
4,000,001 and up 35% N/A

For more information (in Thai), please go to Royal Thai Government (สรุปข่าวการประชุมคณะรัฐมนตรี 10 พฤศจิกายน 2558 หน้า 9-10), Thairath, and Revenue Department's Facebook.

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