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Private and Spacious Pool Villa in Cherng Talay, Phuket
Private and Spacious Pool Villa in Cherng Talay, Phuket
Refcode: HSIL8218
28.5M THB
Beautiful Well Maintained Three Bedroom Home in Laguna, Phuket
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New Luxurious SeaView Condominium Development Offered at Kata Noi
New Luxurious SeaView Condominium Development Offered at Kata Noi
Refcode: CSSVD8214
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Tax Rates

Corporate Tax


A Thai Company generally pays tax at 30% of Net profit. However, some types of company are entitled to a rate reduction.

•  Small business with paid up capital less than 5 million baht

20% of Net profit < 1 million baht

25% of Net profit 1-3 million baht

•  Company registered in the Stock Exchange of Thailand (SET)

25% of Net profit < 300 million baht

•  Newly registered company in the stock exchange of Thailand (SET) and Market for alternative Investment (MAI)

25%of Net profit for newly registered company in SET

20% of Net profit for newly registered company in MAI

•  Bangkok International Banking Facility and Regional Operating Headquarters

10% of Net profit from qualified income

•  Association and foundation

2% or 10% on gross receipts

Withholding Tax


Types of income

Withholding tax rate

1. Employment income

5 - 37 %

2. Rents and prizes

5 %

3. Ship rental charges

1 %

4. Service and professional fees

3 %

5. Public entertainer remuneration

     -  Thai resident

     -  non-resident



5 %

5 - 37%

6. Advertising fees

2 %

Personal Income Tax


Tax is applied on a graduated scale as follows:

Net Annual Income (Baht)

Tax Rate

0

150,000

0%

150,001

500,000

10%

500,001

1,000,000

20%

1,000,001

4,000,000

30%

4,000,001

over

37%

Other types of taxable income and the rate of standard deduction include:
. Interest, dividends, capital gains on the sale of securities: Forty percent but not exceeding 60,000 baht.
. Rental income: Ten percent to 30 percent depending on type of property leased.
. Professional fees: Sixty percent for income from medical practice, 30 percent for others.
. Income derived by contractors: Seventy per cent.
. Income from other business activities: Sixty-five percent to 85 percent depending on the nature of the business activity. 

The following annual personal allowances are permitted:

Taxpayer 

THB 30,000

Taxpayer's spouse 

THB 30,000

Each child's education 

THB 15,000 (limit 3)

For taxpayer contributions to an approved provident fund 

THB 10,000

For taxpayer and spouse for interest payments on loans for purchasing, hire-purchasing or construction of residential buildings 

THB 10,000

For taxpayer and spouse with respect to contributions to Social Securities Fund

Actual contribution not more than 10% of adjusted income

 

Thailand Property Taxes (Condo, Villa, or House)


The following is an overview of property taxes in Thailand and how they are calculated. Please consult one of our property lawyers with regards to your property taxes in Thailand.

Tax Type

Tax Rate

Transfer fee

2% of the registered value of the property

Stamp Duty

0.5% of registered value. Only payable if exempt from business tax

Withholding Tax

1% of the appraised value or registered sale value of the property (whichever is higher and if the seller is a company). If the seller is an individual, withholding tax is calculated at a progressive rate based on the appraisal value of the property.

Business Tax

3.3% of the appraised value or registered sale value of the property (whichever is higher). This applies to both individuals and companies.


TAX WHICH PARTY
NORMALLY PAYS
AMOUNT
Transfer fee Buyer 2% of the registered value
Stamp Duty Seller 0.5% of registered value
Withholding Tax Seller 1% of appraised value or registered sale value (whichever is higher)
Business Tax Seller 3.3% of appraised value or registered sale value (whichever is higher)

Also, see this discussion of tax issues (PDF, 813KB) from BDO Richfield Advisory.