The Thai government has recently approved a new personal income tax structure which reduces the existing maximum rate of 37% to 35%. The new rates will take effect in the 2013 tax year.

The recently approved starting tax rate is 5%-10%. For more information, the new tax rates are summarized as follows:

Yearly net income (Baht) Personal Income Tax rate

Existing rate NEW rate

• 0-150,000 Exempt Exempt
• 150,001-300,000 10% 5%
• 300,001-500,000 10% 10%
• 500,001-750,000 20% 15%
• 750,001-1,000,000 20% 20%
• 1,000,001-2,000,000 30% 25%
• 2,000,001-4,000,000 30% 30%
• 4,000,001 upward 37% 35%

Please note that implementation of the above new tax rates are yet to be announced by the Thai Revenue Department. Old existing tax rates will still be applied until further notice. Contact MSNA Tax Advisors for Personal Income Tax computation and submission.