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Saturday, October 23, 2021

Thailand is considering tax cuts for foreign experts to entice them to work in the Kingdom

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The Thai tax authorities are considering the possibility of lowering the income tax for foreign experts to 17% in an effort to allow foreign talented professionals to work in Thailand.

The director-general of the tax office, Ekniti Nitithanprapas, said the highly skilled professional should be in the fields that Thailand falls short of and they are allowed to work anywhere in Thailand. He said the department is considering a valid period for this tax cut.

The rate of personal income tax in Thailand is progressive depending on the salary level. Those with an annual income of 150,001 baht to 300,000 baht are subject to 5% tax, while those with an annual income of more than 5 million baht are subject to the highest tax rate of 35%.

Nevertheless, Ekniti indicated that tax cuts alone may not be sufficient enough for foreign experts, adding that factors such as the country’s security and the high quality of schools and medical care should be given some consideration.

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