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TAXES IN THAILAND Part IX: Tax calculation, carrying the example
Spectrum, Published on 12/02/2012
» Last week we discussed how an individual's taxable income is determined in Thailand. We used an example of an engineer working on a pipeline in Thailand who was married to a teacher. They live with their four children and their mother-in-law in Bangkok. In the example, after taking into account all of the deductions and exemptions, we concluded that their taxable income was 1,557,500 baht.
TAXES IN THAILAND Part VIII: Calculation of allowances
Spectrum, Published on 05/02/2012
» For the past couple of weeks we have used an example to figure out how tax deductions are calculated. This week we'll use the same example to show how allowances work and how they are used to determine taxable income. Remember, the terms allowance and exemption mean the same thing for the purposes of this discussion.
TAXES IN THAILAND Part VII: Deductions _ reworking the example
Spectrum, Published on 29/01/2012
» Last week we used an example to determine how assessable income is calculated. Now we'll use the same example to show the items that are subtracted from the assessable income to arrive at taxable income, the amount to which the progressive rates are applied. These items subtracted from assessable income fall into two categories, deductions and exemptions, which are also called allowances. This week we'll illustrate how to arrive at deductions using the same example.
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.
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.
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