TAXES IN THAILAND Part IX: Tax calculation, carrying the example

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Expat CounselTAXES IN THAILAND Part IX: Tax calculation, carrying the example

12/02/2012 : Last week we discussed how an individual's taxable income is determined in Thailand. We used an example of an engineer working on a pipeline in Thailand who was married to a teacher. They live with their four children and their mother-in-law in Bangkok. In the example, after taking into account all of the deductions and exemptions, we concluded that their taxable income was 1,557,500 baht.
She shall not be moved

12/02/2012 : Five years ago, Boeung Kak Lake was Phnom Penh's largest. It served as home to some 20,000 Cambodians as well as the capital's backpacker ghetto, where foreign travellers would sit on guest house patios in a cannabis haze to watch the sun set over the waters and finish another Angkor Beer. And although the lake was full of sewage and debris and was hardly pristine, it served as an important catchment basin for the capital, providing equilibrium during the wet and dry seasons.

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Going with feng shui flow makes practical sense
29/01/2012 : December and January usually indicate a low season for property sales as Thais celebrate the traditional New Year and the Chinese New Year. Thais and Chinese have close ties culturally, and these days many Thais seem to believe in Chinese astrology and feng shui.
Expat Counsel
TAXES IN THAILAND Part VII: Deductions _ reworking the example
29/01/2012 : 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.
Networth
Start now to defuse inflation
29/01/2012 : The Chinese Year of the Dragon is thought to be an auspicious year and one in which a number of factors will have greater effect than usual, for better or worse. In other words, if your luck is good it will be enhanced, and if it is bad it will be horrid.
Farmers in the dark over crop insurance
29/01/2012 : Rice farmer Nalad Kaewsikhao is luckier than many others whose crops were destroyed by last year's devastating floods. She purchased a crop insurance policy for the yield from her 38.5 rai plot of land from the Bank of Agriculture and Agricultural Cooperatives (BAAC) in Kalasin's Yang Talat district. The crop insurance programme is open to farmers nationwide, but so far covers only seasonal rice crops (see sidebar).
At first taste of freedom, dreams of a new path
29/01/2012 : It was Jan 12, the night before they were freed. Pyone Cho, a leading member of the 88 Generation Students Group detained in the remote Kawthaung Prison in southern Myanmar's Tenasserim Division, was immersed in a weekly journal when a prison guard he hadn't noticed standing in front of his cell asked him what he was reading.
As doors open, businesses face a formidable frontier
29/01/2012 : As Myanmar trades political reforms in return for an end to economic sanctions, businesses big and small are queuing for access to the region's last closed economy. Entry will be dictated by political connections, financial clout, further reforms and necessity.
Expat Counsel
TAXES IN THAILAND VI: Calculation of assessable income
22/01/2012 : This week we're going to work with an example that illustrates how taxable income is calculated. We know it's hard to consider these matters in theory, and readers have asked us for examples.
Net worth
You'll love it when a plan comes together
22/01/2012 : Many expats don't realise until it's too late that they are insufficiently prepared for their financial future.
Commercial properties in bangkok's northern suburbs looking good
22/01/2012 : Bangkok's retail market is divided into three main areas _ city, city fringe and suburban. The largest share of retail space is concentrated in suburban Bangkok, totalling 2.56 million square metres, compared with 1.62 million in the city fringe and 1.33 million in the city.
War crimes and the price of justice
22/01/2012 : Putting a price on human life has never been a simple matter. For example, hospitals constantly face financial pressures, but patients' rights to privacy ensure that such awkward subjects are handled behind closed doors.