{"id":136,"date":"2023-08-29T11:00:09","date_gmt":"2023-08-29T11:00:09","guid":{"rendered":"https:\/\/auditorchannels.com\/?p=136"},"modified":"2023-08-30T03:25:05","modified_gmt":"2023-08-30T03:25:05","slug":"personal-income-tax","status":"publish","type":"post","link":"https:\/\/auditorchannels.com\/?p=136","title":{"rendered":"Personal income tax"},"content":{"rendered":"\n
Personal income tax<\/p>\n\n\n\n
Principal tax-exempted incomes<\/p>\n\n\n\n
\n
Relocation expenses reimbursed by the employer<\/li>\n\n\n\n
Medical expenses reimbursed by the employer<\/li>\n\n\n\n
Traveling expenses spent by employee exclusively and wholly in performance of duties and reimbursed by employee at actual cost<\/li>\n\n\n\n
Traveling per diem paid in lump sum and not exceeding THB270 per day for trips within Thailand and THB3,100 per day for overseas trips outside Thailand<\/li>\n\n\n\n
A portion of the employee\u2019s contribution to an approved provident fund in excess of THB10,000 but not exceeding THB500,000 (i.e. up to THB490,000 per year)<\/li>\n\n\n\n
Amount invested in a Retirement Mutual Fund (RTF) to the extent that such amount plus any contributions to an approved provident fund do not exceed either 15% of taxable income or THB500,000<\/li>\n\n\n\n
Amount invested in a Long Term Equity Fund (LTF) to the extent that such amount plus any contributions to an approved provident fund do not exceed either 15% of taxable income or THB500,000 (held for 7 calendar years)<\/li>\n\n\n\n
Severance pay of up to 300 day\u2019s wages under Thai labor law, with a maximum of THB300,000<\/li>\n\n\n\n
Income of up to THB190,000 earned by Thai tax residents aged 65 years and over<\/li>\n\n\n\n
Group medical insurance premiums paid by employee (under policies with terms not exceeding 1 year)<\/li>\n<\/ul>\n\n\n\n
Allowances and reliefs<\/strong><\/td><\/tr>
Expense allowance<\/td>
= 50% but not over THB100,000<\/td><\/tr>
Personal allowance<\/td>
= THB60,000<\/td><\/tr>
Spouse allowance<\/td>
= THB60,000<\/td><\/tr>
Parent allowance<\/td>
= THB30,000\/parent<\/td><\/tr>
Child allowance<\/td>
= THB30,000\/child<\/td><\/tr>
Life insurance allowance (only local insurance policies with a minimum period of 10 years)<\/td>
= Actual premium but not over THB100,000<\/td><\/tr>
Provident fund allowance<\/td>
= Actual contribution but not exceeding THB10,000 (Note: up to THB490,000 of any excess is also deductible by way of income exemption)<\/td><\/tr>
Interest allowance (housing loans)<\/td>
= Actual interest paid but not over THB100,000<\/td><\/tr>
Contributions to the Thai Social Security Fund<\/td>
= Actual contribution (normally 5% of base salary with a cap of THB750 per month)<\/td><\/tr>
Educational donation allowance<\/td>
= 2 times of actual payment but not over 10% of taxable income after deductions of other allowances<\/td><\/tr>
Donation allowance<\/td>
= Actual donation but not over 10% of not assessable income<\/td><\/tr>
Health Insurance premiums paid for parents<\/td>
= Actual premium paid but not over THB15,000<\/td><\/tr>
Premium paid for pension insurance contract<\/td>
= Actual premium but not exceeding 15% of taxable income or capped at THB200,000, and not exceeding THB500,000 in aggregate when including the amount of Provident Fund and\/or RMF<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
Income tax rate<\/strong><\/td><\/tr>
Income (THB)<\/strong><\/td>
Tax rate %<\/strong><\/td>
Tax on certain levels of income<\/strong><\/td><\/tr>
Personal income tax Principal tax-exempted incomes Allo […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-no-separators","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-136","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/auditorchannels.com\/index.php?rest_route=\/wp\/v2\/posts\/136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/auditorchannels.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/auditorchannels.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/auditorchannels.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/auditorchannels.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=136"}],"version-history":[{"count":6,"href":"https:\/\/auditorchannels.com\/index.php?rest_route=\/wp\/v2\/posts\/136\/revisions"}],"predecessor-version":[{"id":166,"href":"https:\/\/auditorchannels.com\/index.php?rest_route=\/wp\/v2\/posts\/136\/revisions\/166"}],"wp:attachment":[{"href":"https:\/\/auditorchannels.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/auditorchannels.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/auditorchannels.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}