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Thailand Tax Summary
Personal Income Tax (PIT)
Thailand has a progressive PIT system, with rates ranging from 0% to 35%. Residents are taxed on their worldwide income, while non-residents are only taxed on Thai-source income.
Taxable income
Taxable income includes salary, wages, bonuses, commissions, and other forms of compensation. It also includes income from self-employment, investments, and rentals.
Deductions and exemptions
A number of deductions and exemptions are available to taxpayers, such as deductions for social security contributions, medical expenses, and charitable donations.
Tax rates
The following table shows the Thai PIT rates for 2023:
Net Income (THB) | PIT Rate (%) |
---|---|
0 – 150,000 | Exempt |
150,001 – 300,000 | 5 |
300,001 – 500,000 | 10 |
500,001 – 750,000 | 15 |
750,001 – 1,000,000 | 20 |
1,000,001 – 2,000,000 | 25 |
2,000,001 – 5,000,000 | 30 |
Over 5,000,000 | 35 |
Tax filing
Taxpayers are required to file a tax return each year. The tax year runs from January 1 to December 31. Tax returns are due on March 31 of the following year.
Corporate Income Tax (CIT)
The CIT rate in Thailand is 20%.
Taxable income
Taxable income includes all profits from business activities.
Deductions and exemptions
A number of deductions and exemptions are available to taxpayers, such as deductions for business expenses, depreciation, and charitable donations.
Tax rates
The CIT rate in Thailand is 20% for all businesses.
Tax filing
Corporations are required to file a tax return each year. The tax year runs from January 1 to December 31. Tax returns are due on March 31 of the following year.
Other taxes
In addition to PIT and CIT, there are a number of other taxes in Thailand, such as value-added tax (VAT), excise taxes, and payroll taxes.
VAT
VAT is a consumption tax that is applied to most goods and services sold in Thailand. The standard VAT rate is 10%.
Excise taxes
Excise taxes are applied to specific goods, such as tobacco, alcohol, and gasoline. The rates of excise tax vary depending on the good.
Payroll taxes
Payroll taxes are paid by employers and employees to fund social security programs. The employer payroll tax rate is 7.3%, and the employee payroll tax rate is 2%.