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New income tax structure for 2017 approved

Discussion in 'Tax issues' started by Stamp, 20 Apr 2016.

  1. Stamp

    Stamp Thread Starter Administrator Staff Member

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    While the bracket structure will remain the same, some allowances will be a higher.

    New income tax structure approved | Bangkok Post: business
     
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  2. GanDoonToonPet

    GanDoonToonPet Well-Known Member

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    Also the standard deduction has risen from 40% of income (max. 60,000) to 50% of income (max. 100,000).

    That's an extra 625B per month for me... :thumbs up
     
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  3. Stamp

    Stamp Thread Starter Administrator Staff Member

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    Forgive me my ignorance, what's the standard deduction/ general expenses?
     
  4. Stamp

    Stamp Thread Starter Administrator Staff Member

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    Forgot to mention. The bracket table posted on the Bangkok Post is wrong. 1 - 300,000 THB 5 % should read as 150,000 - 300,000 THB 5%. i.e. Up to 150,000 THB is tax exempt.
     
  5. GanDoonToonPet

    GanDoonToonPet Well-Known Member

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    I was referring to the 'deduction' for 'income from employment'. The 'general deduction' referred to in the BP article is actually the 'allowance' for a 'single taxpayer'. I think wifey's allowance doubles too, or maybe only if she's working...clear? :huh

    Basically, a single taxpayer in 2017 pays no tax on the first 150,000 + 100,000 + 60,000 = 310,000.

    I spotted that too but it was obviously just a typo. :smile
     
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