Re­duced Tax Li­a­bil­i­ties In­tro­duced

Thai-American Business (T-AB) Magazine - - Thailand 4.0: Investment- Led Transformation -

Rev­enue Code Act No. 44 was is­sued in­creas­ing the al­low­able de­duc­tions and al­lowances for in­di­vid­ual tax­pay­ers earn­ing in­come un­der Sec­tion 40 ( 1) and ( 2) of the Thai Rev­enue Code ( TRC). Fur­ther, the level of in­come sub­ject to the high­est in­come tax rate of 35% is in­creased to Baht 5 mil­lion. Fi­nally, the amount of in­come earned by in­di­vid­ual tax­pay­ers with obli­ga­tion to file a tax re­turn was in­creased. This amend­ment cov­ers earn­ings from Jan- uary 1, 2017 on­wards. Pro­vided be­low is the com­par­i­son of the old and the new pro­vi­sions:

For more in­for­ma­tion con­tact Grant Thorn­ton Thai­land at me­lea. cruz@ th. gt. com

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