Government cuts income tax rates | Bangkok Post: business

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Government cuts income tax rates

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The cabinet Tuesday approved an overhaul of the personal income tax structure amid criticism that the changes benefit mainly the rich. 

The change will slash the highest personal income tax rate to 35 per cent, down from 37 per cent, effective on 2013 tax returns filed in 2014.

The restructuring will cut the government's revenue in the 2013 fiscal year by 25 billion baht, the Finance Ministry said.

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