Post by Fletchsmile on Apr 25, 2017 0:11:57 GMT 7
Article in Bangkok Post today covers the changes and basics for tax allowances in Thailand
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Get ahead in tax game
Early planning will allow individuals to make the most of the new personal income tax structure
Most individual taxpayers delay tax planning to end of the year as their financial and tax circumstances do not often change year to year. However, with the new personal income tax structure, which became effective from January this year, early tax planning can help taxpayers rack up bigger savings and also take better advantage of tax-deductible expenses.
All taxpayers benefit from the changes in personal income tax as the amount of tax deductions and allowances is higher under the new structure, and the income band for those earning 4 million upwards baht a year is now wider.
Changes
Deductible expenses for income from employment, services, goodwill, copyright, other rights, annuity from wills, and income from other juristic acts or court orders have been increased from 40% of income but not exceeding 60,000 baht to 50% of income but not more than 100,000 baht.
contd...
www.bangkokpost.com/business/news/1237510/get-ahead-in-tax-game
================================
Get ahead in tax game
Early planning will allow individuals to make the most of the new personal income tax structure
Most individual taxpayers delay tax planning to end of the year as their financial and tax circumstances do not often change year to year. However, with the new personal income tax structure, which became effective from January this year, early tax planning can help taxpayers rack up bigger savings and also take better advantage of tax-deductible expenses.
All taxpayers benefit from the changes in personal income tax as the amount of tax deductions and allowances is higher under the new structure, and the income band for those earning 4 million upwards baht a year is now wider.
Changes
Deductible expenses for income from employment, services, goodwill, copyright, other rights, annuity from wills, and income from other juristic acts or court orders have been increased from 40% of income but not exceeding 60,000 baht to 50% of income but not more than 100,000 baht.
contd...
www.bangkokpost.com/business/news/1237510/get-ahead-in-tax-game
