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TAXES IN THAILAND VI: Calculation of assessable income
Spectrum, Published on 22/01/2012
» This week we're going to work with an example that illustrates how taxable income is calculated. We know it's hard to consider these matters in theory, and readers have asked us for examples.
Their answer is blowing in the wind
Spectrum, Published on 15/01/2012
» Farmer Aiem Sompeng has just a rudimentary education, but curiosity and necessity drove him to design the energy-producing wind turbines that are now a landmark in his village of Dongyang, in Yasothon's Maha Chana Chai district. Like many rice farmers in the northeastern province, the 66-year-old Mr Aiem was trapped in debt incurred by the high costs of fertiliser, pesticide and electricity needed to run irrigation pumps, as well as uncertain prices for his crops.
Taxi drivers stuck in reverse
Spectrum, Voranai Vanijaka, Published on 15/01/2012
» Earlier this month, the government reached a compromise to increase the price of compressed natural gas (CNG) by just 50 satang per kilogramme starting tomorrow. In a concession to angry transport operators, Deputy Prime Minister Kittiratt Na-Ranong dropped the original plan to increase the price of CNG _ more commonly known known as NGV (natural gas for vehicles) _ at the rate of 50 satang a month for 12 months until it reached 14.50 baht a kilogramme. Mr Kittiratt has promised further consultation with the transport sector in the next few weeks before deciding whether there will be further CNG price hikes.
Fledgling art scene more trippy than traditional
Spectrum, Luke Hunt, Published on 15/01/2012
» Fifteen years ago Cambodian art was virtually non-existent. Just a handful of painters practised their trade and typically their focus was restricted to the horrors of the Killing Fields and war or traditional copies of Angkor Wat and pleasant rural scenes.
Dwindling supply gives landlords the upper hand
Spectrum, Published on 15/01/2012
» The current down cycle in the Bangkok office market continues to provide occupiers with the opportunity to realise significant savings. However, with continued demand and very limited new supply, the market is likely to soon move to the upturn stage of the rental cycle.
TAXES IN THAILAND V: Know your allowances (exemptions)
Spectrum, Published on 15/01/2012
» As we discussed last week, your taxable income is the income to which income tax rates are applied and your taxes are calculated. The formula for determining your taxable income is: Taxable income equals assessable income minus deductions minus allowances.
Couple lifted out of anguish with new home and new lives
Spectrum, Published on 08/01/2012
» Wichean Lumlha was a very happy man during the week of Dec 12-19. It was a very special time for him and his wife Lamyai Bunlead as they watched their new home being built by Habitat for Humanity Thailand in Mahasorn village in Lop Buri's Ban Mi district after losing their old one to last year's devastating floods.
Shuffling deck chairs with debt
Spectrum, Parista Yuthamanop, Published on 08/01/2012
» The 1997 financial crisis was rooted in speculative excess and financial alchemy through the boom years of the 1990s. During a bubble, money comes fast and easy. And when the bubble bursts, it's those who are last to leave that are saddled with the costs.
Finding balance in shifting sands
Spectrum, Andrew Wood, Published on 08/01/2012
» Happy New Year! Welcome to 2012. It's that time of year when many of us say "out with the old and in with the new". But is it really that practical or even possible to achieve this with regard to financial matters?
TAXES IN THAILAND IV: More about deductions
Spectrum, Published on 08/01/2012
» Last column, we began a discussion of deductions. You'll recall that we established earlier that your assessable income in Thailand is what you earn that's exposed to Thai tax. Deductions and exemptions are subtracted from that. What remains is your tax