1. Tax payers are classified as “resident“ if that person resides in
Thailand for a period or periods aggregating more than 180 days in any tax (Calendar) year.
2. Income chargeable to the PIT is called “assessable income“.
The term covers income both in cash and in kind.
3. Assessable income is divided into 8 categories.
3.1 Income from personal services.
3.2 Jobs
3.3 Income from goodwill, copyright, franchise, annuity or income from a will or judgement of the court.
3.4 Dividends, interest on deposits, shares of profits, a bonus, increased capital holdings, etc.
3.5 Rental income and sales.
3.6 Income from liberal professions.
3.7 Construction and contract work.
3.8 Income from business, commerce, agriculture, industry, transport, or any activity not specified earlier.
4. There are deductions and allowances.
5. There are tax credits for dividends.
6. Payer of income has to withhold tax.
7. Personal income is due the last day of March and some people
must file and pay their tax half–yearly within the last day of September.
There are teams of auditors.
Tip 1: if you file a loss for 2 years in a row, you will be audited.
Tip 2: Taking a refund in cash Vs credit will bring an audit. Also, there are teams that review financial reports. Their goal is 20 businesses per day.
The penalty for failure to pay your taxes is a fine, which might be collected when you try to leave or enter the country.
My head is swimming in financial confusion.
1. See the ad in this paper for C.A.T accounting and tax Co., Ltd.
2. Call “ TK “ now at 038 300 642-3
3. Gather you financial papers and go to her office 62/7 M.12 Thepprasit Road.
4. Take the ad for a special discount.
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