Changes to Thai Personal Income Tax
On 19 April 2016, the Cabinet approved the Minister of Finance’s proposed amendments to the Thai personal income tax legislation which will be effective from the 2017 tax year onwards. The changes essentially provide for an escalation of deductible expense against assessable income, greater personal, spousal and children allowances, changes to the thresholds for tax filing obligations and an increase to the highest tax bracket of the progressive personal income tax scale.
The changes to the personal income tax legislation are advantageous to all
taxpayers. In addition, those individuals earning in excess of THB 4 million
will be subject to a lower overall tax rate in Thailand. As a result, the total
employment cost for international assignment programs should be lower.
A summary of the changes is set out in the downloadable PDF file below
© 2017 KPMG Phoomchai Tax Ltd., a Thailand limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG International has created a state of the art digital platform that enhances your experience, optimized to discover new and related content.