Deadline of personal income tax payment

March is coming to the end, which means that the deadline for paying personal income tax in Thailand is approaching.

Earlier, we talked about the increasing tax rate and how to calculate it for those who receive a salary in Thailand. We remind you that the tax depends on the amount of wages. The employer withholds monthly the amount of tax from the employee’s salary and pays to the tax office - this is a withholding tax. Until March 31 of the year following the reporting year, it is necessary to file a general tax return: calculate the total amount of tax payable, calculate the paid withholding tax and pay the missing amount, or receive a refund of the overpaid tax amount.

Withholding tax on personal income is paid not only from wages, but also from other types of income.

For example, a company must deduct 5% and pay to the tax office when paying the rent to an individual - the landlord. At the end of the year, the withholding tax paid, as in the case of wages, will be taken into account as part of the total tax payment.

We remind you that when calculating the total tax payable, all amounts of income received by an individual during the year are taken into account. Each type of income is subject to a corresponding discount and deduction. This determines he tax base to which the tax rate is applied.

For all questions of taxation of individuals in Thailand, please contact us: + 6687-348-57-03 (WhatsApp, Viber).

Author: Aleksandra Agapitova

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