Comparison Between New Thai Tax Scheme (2017) and Old Thai Scheme
Here we would like to summarize the comparison between new and old personal income tax scheme that announced and effective in Year 2017.
The major elements that changed are as below;
- Personal allowance; and
- Income base for the maximum tax rate.
|
Old tax scheme |
New tax scheme (Y2017) |
|
For income type 40(1) and 40(2) 40% of total income (maximum THB. 60,000) |
For income type 40(1) and 40(2) 50% of total income (maximum THB. 100,000) |
|
For income type 40(3) Entitle for Copyright only 40% of total income (maximum THB. 60,000) |
For income type 40(3) Entitle for Goodwill, Copyright, Royalty 50% of total income (maximum THB. 100,000) |
|
Type of allowance |
Old scheme |
New scheme |
|
Personal allowance |
THB. 30,000 |
THB. 60,000 |
|
Spouses |
THB. 30,000 |
THB. 60,000 |
|
Children |
THB. 15,000 / person (max. 3 persons) |
THB. 30,000 / person (no limited) |
|
Education for children |
THB. 2,000 / person |
Cancel |
|
Estate |
THB. 30,000 |
THB. 60,000 |
|
Ordinary Partnership |
THB. 30,000 / person (max.THB. 60,000) |
THB. 60,000 / person (max. THB.120,000) |
|
Old tax scheme |
New tax scheme |
||
|
Net income |
Tax rate |
Net income |
Tax rate |
|
0 – 150,000 |
none |
0 – 150,000 |
none |
|
150,001 – 300,000 |
5% |
150,001 – 300,000 |
5% |
|
300,001 – 500,000 |
10% |
300,001 – 500,000 |
10% |
|
500,001 – 750,000 |
15% |
500,001 – 750,000 |
15% |
|
750,001 – 1,000,000 |
20% |
750,001 – 1,000,000 |
20% |
|
1,000,001 – 2,000,000 |
25% |
1,000,001 – 2,000,000 |
25% |
|
2,000,001 – 4,000,000 |
30% |
2,000,001 – 5,000,000 |
30% |
|
4,000,001 up |
35% |
5,000,001 up |
35% |
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