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New income taxes may be postponed

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The new personal income tax rate will probably be delayed from taking effect for the 2013 tax year due to the political unrest, says Finance Ministry permanent secretary Rangsan Sriworasart. 

Last month, the cabinet issued a royal decree to ensure the revised personal income tax structure takes effect in the 2013 tax year, to be filed next year. However, the royal decree has not been submitted for royal endorsement yet.

"If we can't complete the legal process by Dec 31, the new tax rate will be delayed until tax year 2014 at the earliest," said Mr Rangsan.

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