7 replies to this topic

[Sandman77]

hello!
Also on The Internet i Not find detailed Information about how The Thai tax System Works in Detail?
How much income tax a Company for Example must pay,how many procent for private people, on many small island mostly foreign resort owner told me don't pay any taxes no one care here!
How is the defenitation in the law about the taxible sale of different products!
I talk also with farmers, and got information that the have special rates pays only around 300 bath tax in one year!

How high are the fine for non paying tax payers?
When a family has many children , is then the yearly tax lower then a single. Person have to pay?


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[cmbe]

http://www.doingbusi...income-tax.html
http://www.taxrates....-tax-rates.html

Personal tax : If you have children, you can deduct tax; 15,000 baht per child (pre-school),
17,000 baht for a child (school),
30,000 baht for yourself,
30,000 baht for your spouse,
insurance (max. 10,000 baht.).

[travelmann]

http://www.doingbusi...income-tax.html
http://www.taxrates....-tax-rates.html

Personal tax : If you have children, you can deduct tax; 15,000 baht per child (pre-school),
17,000 baht for a child (school),
30,000 baht for yourself,
30,000 baht for your spouse,
insurance (max. 10,000 baht.).

Or do as the island owner says as you know any govt will watse it away, especially here

[Gone]

You can always just NOT pay taxes and end up being fined, going to jail and being deported.

If you work here you pay tax just like any other country plain and simple. if you evade taxes you pay the penalty.

If you make so much money that you are worried about paying high taxes then it seems you can afford a lawyer so ask him.

[Stef]

You may just visit the official Revenue Department's website (www.rd.go.th). It is in English too.

For personal income tax, the link is http://www.rd.go.th/...ish/6045.0.html
For corporate income tax, the link is http://www.rd.go.th/...ish/6044.0.html

cmbe made a small error. For life insurance premium, the maximum deduction is 100,000 bahts not 10,000.

As you will see in the revenue department's website, there are several other possible allowances and deductions.

[cmbe]

http://www.doingbusi...income-tax.html
http://www.taxrates....-tax-rates.html

Personal tax : If you have children, you can deduct tax; 15,000 baht per child (pre-school),
17,000 baht for a child (school),
30,000 baht for yourself,
30,000 baht for your spouse,
insurance (max. 10,000 baht.).

Or do as the island owner says as you know any govt will watse it away, especially here

If you are happy to pay retro tax push the fine sum later, it is ok.

[cmbe]

You may just visit the official Revenue Department's website (www.rd.go.th). It is in English too.

For personal income tax, the link is http://www.rd.go.th/...ish/6045.0.html
For corporate income tax, the link is http://www.rd.go.th/...ish/6044.0.html

cmbe made a small error. For life insurance premium, the maximum deduction is 100,000 bahts not 10,000.

As you will see in the revenue department's website, there are several other possible allowances and deductions.

Thank you Stef, you wake me up to read more carefully, it is old info. about 10,000 baht deduct tax for insurance premium, it has been changed to 50,000 baht (deduct 10,000+exemption 40,000), then changed again to 100,000 baht (deduct 10,000 baht +exemption 90,000 baht).

I would like to explain a little bit about deduct tax for insurance premium 10,000 baht and 100,000 baht.

Taxpayer can deduct tax for insurance premium as real paid but not exceeding 10,000 baht(for the first step), then amount of insurance premium that higher than 10,000 baht and not exceeding 90,000 baht (only life insurance from 10 years up and with company insurance in Thailand) will be exempted for calculation of personal income tax.

Example: you paid for insurance premuim 15,000 per year (for life insurance 10 years) and you paid also for your wife(no have income) life insurance premium 11,000 baht per year, no have children;

you have net income = 120,000 baht
deduct for yourselve - 30,000
deduct for yourwife (no income) - 30,000
deduct for your life insurance (1st step) - 10,000
deduct for your wife insurance
(only when she has no income) - 10,000 total deduct -80,000 baht
income after deduct = 40,000 baht
deduct donate cash (donated 10,000 deduct 10% 1,000 baht
income for calculation personal income tax = 39,000 baht

2nd step deduct life insurance premium (15,000- 10,000 1st step) - 5,000 baht

amount of income for calculation PIT is = 34,000 baht


P.S. if you have income for calculation of PIT = 70,000 baht (other amount and example) and you paid for life insurance premium 90,000 baht, you can deduct 1st step 10,000 baht and 2nd step only 70,000 baht (= amount of income for calculatePIT).

[cmbe]

Sorry guys, I made mistake again after have time to think about deduct 10% of cash donated, it mean you can deduct as donate but not more than 10% of income after all deduction.
My example above ; you donated 10,000 baht you can not deduct full amount because it exceeding 10% (you can deduct only 4,000) of income after all deductions (40,000).
@Stef, do you forget to see my error?