Keywords: Mazars, Thailand, Tax, Payroll, Personal Income Tax, Social Security Fund, Revenue Department
15 January 2016
A resident will be taxable on income from all sources in Thailand on a cash basis regardless of where the money is paid, and on the portion of income that is brought into Thailand in the same year that it is earned.
A non-resident is only taxable on income from sources in Thailand. Taxable income covers both cash and benefits in kind and includes income from employment, hire of work, receipts from copyright, interest, dividends, capital gains and the letting of property.
The tax rates in 2015 for employment income and hire of work are as follows:
The amount of assessable taxable income is net of allowances:
The above list is not definitive and allowances on specific classes of income may differ.
Social Security Fund and Provident Fund
Employees and employers are required to contribute to a Social Security Fund (‘SSF’) being 5% of salary up to a maximum of 750 Baht per month.
A Provident Fund is a managed fund into which voluntary contributions from both the employer and employee are made. The contribution can range between 2% to 15% of the monthly remuneration. From November 2015 the employee is allowed to make higher contributions than his or her employer (up to 15%).
Payments and Forms
The employer is responsible for the completion and submission of the PND 1 and for related withholding tax, social security fund deductions and provident fund contributions, where applicable. Responsibility for the completion and submission of the PND 90 or 91 rests with the employee.
The Revenue Department has announced that companies registered for e-filing with have an extra eight days to file all tax returns. This incentive will run until January 2017.
- PND.1 to be filed on or before 15th of the month
- PND.90 and PND.91 to be filed within 8th April
For more information, please visit the Revenue Department website.