Reduced personal income tax rates extended
Keywords: Mazars, Thailand, Payroll, Personal Income Tax, Royal Decree no. 575
18 December 2015
The current personal income tax rates ware published in Royal Decree no. 575 on 23 December 2013, which increased the number of tax brackets from five to eight. The eight tax brackets are set out in the table below.
Annual Net Income (in Thai baht) | Marginal Tax Rate | Tax Payable (in Thai baht) |
0 – 150,000 | Exempt | - |
150,001 – 300,000 | 5% | 7,500 |
300,001 – 500,000 | 10% | 27,500 |
500,001 – 750,000 | 15% | 65,000 |
750,001 – 1,000,000 | 20% | 115,000 |
1,000,001 – 2,000,000 | 25% | 365,000 |
2,000,001 – 4,000,000 | 30% | 965,000 |
4,000,001 and up | 35% | N/A |
For more information (in Thai), please go to Royal Thai Government (สรุปข่าวการประชุมคณะรัฐมนตรี 10 พฤศจิกายน 2558 หน้า 9-10), Thairath, and Revenue Department's Facebook.