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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