Expat Counsel
TAXES IN THAILAND Part VII: Deductions _ reworking the example
- Published: 29/01/2012 at 03:12 AM
- Newspaper section: Spectrum
Last week we used an example to determine how assessable income is calculated. Now we'll use the same example to show the items that are subtracted from the assessable income to arrive at taxable income, the amount to which the progressive rates are applied. These items subtracted from assessable income fall into two categories, deductions and exemptions, which are also called allowances. This week we'll illustrate how to arrive at deductions using the same example.
ILLUSTRATION: NATTAYA SRISAWANG
Using the example, let's assume you are an expat living in Thailand and working on a natural gas pipeline. Your assessable income for last year was 2.65 million baht. Under Thai law, the personal tax year is from Jan 1 to Dec 31.
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About the author
- Writer: James Finch & Nilobon Tangprasit
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