
Deductions & allowances
The assessable income of a taxpayer, i.e the income derived from above mentioned categories and subject to PIT, can be reduced by certain deductions and allowances lowering the tax liability, as below listed:
Income type | Deductible expenses |
---|---|
Income from employment | 50% of assessable income, up to 100,000 THB |
Income received from goodwill, copyright, other rights, annuity, court judgments, etc… | 50% of assessable income, up to 100,000 THB |
Income from rental of property | 30% of assessable income for houses, buildings & vehicles, 10% to 20% for other property |
Income derived from liberal professions | 30% of assessable income except for medical professions where 60% is allowed |
Construction income | Actual expense or 60% of assessable income |
Income from activities of business, commerce, agriculture, transportation, other not specified | 60% of assessable income |
Personal Income Tax - Allowance
Type of allowance (*) | Rate |
---|---|
Personal | 60,000 THB |
Spouse (with no income) | 60,000 THB |
Child (under 20 years of age, regardless of whether he or she is studying, or under 25 years of age but he or she must be studying at a university in Thailand, uncapped number of children) | 30,000 THB |
Parent (each) | 30,000 THB |
Life insurance premium paid by tax payer | Amount actually paid up to 100,000 THB |
Provident fund contributions and retired mutual fund | 15% of assessable income up to Up to 500,000 THB |
Long term equity fund | 15% of assessable income up to Up to 500,000 THB |
Home mortgage interest | Amount actually paid up to 100,000 THB |
Charitable contributions | Amount actually donated up to 10% of assessable income after standard deductions and allowances.There is a double deduction allowed for donations to educational organizations, but not exceeding 10% of assessable income. |
How to calculate your PIT
The PIT calculation is therefore the result of the following formula: Assessable Income – Deductible expenses – Allowances, to which the below progressive tax rates apply:
axable income (Baht) | Tax rate % |
---|---|
1 – 150,000 | Exempt |
150,001 – 300,000 | 5% |
300,001 – 500,000 | 10% |
500,001 – 750,000 | 15% |
750,000 – 1,000,000 | 20% |
1,000,001 – 2,000,000 | 25% |
2,000,001 – 5,000,000 | 30% |
5,000,001 and Over | 35% |