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Personal Income Tax Rates in Thailand

Transcript of the above video:

As the title of this video suggests, we are going to be discussing taxes in a personal context here in the Kingdom. 

For those of you who watch these videos with any type of regularity, we've done other videos on this channel specifically regarding the forms associated with personal income tax as well as corporate tax, VAT etc., which is also on this channel. I had some questions here recently about how the personal income tax works in Thailand so I figured I'd just go ahead and do a video and sort of get that out of the way.  

Basically personal income taxes, for lack of a better term, is kind of a progressive tax system; progressive in the sense that as one's income rises so too does the percentage of tax to be assessed in the case of that given individual. 

 So zero to 100,000 baht in a given year is taxed at a rate of 5%; 101 to 300,000 again 5%; 301 to 500000 is going to be assessed at a rate of 10%; 501,000 to 750,000 is going to be assessed at a rate of 15%. That particular bracket maybe of specific note to foreigners working in Thailand because the minimum for most, especially Anglosphere or European foreigners working in Thailand, the minimum rate of wage that's required in order to be issued both a work permit and a visa to remain in the Kingdom is Bt50,000 per month 50,000 baht per month times 12 months, you're going to be dealing with about 600000 baht I  guess, so that's going to be right there in that sweet spot where you're looking at being taxed.  So 15% on sort of the minimum foreigner wage with a work permit here Thailand, is what you going to be looking at.  Moving forward, 750,000,1 baht to 1 million baht per year you're looking at 20%; 1,000,001 baht to 2 million baht you are looking at 25%; 2,000,001 baht to 4 million baht you are looking at 30% and 4,000,001 baht and above is all taxed at 35% in a given year.

So these are the tax rates on personal income tax. As noted, anything above sort of that middle 15% bracket is going to be of a special interest to foreigners living and working here in the Kingdom as that's basically the point at which they're always going to be taxed on their personal income. In order to work in the Kingdom you have to show Bt50,000 a month in income. This does go by nationality so there are certain nationalities that may be required to be paid a little bit less than that but it's been my experience, again the Anglosphere and Europe, tends to be sort of all lumped into the 50,000 baht a month category and for that reason you're looking at 15% per year in terms of accessed personal income tax.