Thailand Personal Tax Deductions and Allowances
On 19 Sept 2017, the Government approved a draft of a new Ministerial Regulation to be issued for providing Thailand resident individuals a further personal income tax allowance for health insurance premiums from and including the 2017 tax year. This tax insight has been updated for the Government's approval.
Deductions and Allowances
For Thailand personal income tax purposes, the Thai tax law permits residents of Thailand (including foreign national residents of Thailand) to claim tax deductions and tax allowances against assessable income, as follows:
(1) The aggregate of these allowance claims shall not be more than 15% of assessable income and not more than 500,000 Baht.
(2) As prescribed in Revenue Code Amendment Act (No 44) issued on 26 Jan 2017.
(3) As prescribed in Royal Decree (No 629) issued on 26 Jan 2017.
(4) As prescribed in Royal Decree (No 634) issued on 10 Feb 2017.
(5) As prescribed in Ministerial Regulation No 326 (BE 2560) issued on 20 Feb 2017.
(6) The aggregate of these allowance claims shall not be more than 100,000 Baht.
(7) As approved by the Government at its Cabinet Meeting held on 19 Sept 2017.
For more information on donations:For what is assessable income in Thailand:And for the Thailand personal income tax rates:
This Tax Insight is general information only. It should not be used to determine any particular matter without consulting with an experienced Thailand tax advisor.