Family Law

Personal Income Tax Thailand

Posted on Oct 11, 2006 Last Updated Mar 05, 2012 Posted by Consultant

Personal Income Tax in Thailand

Under section 41 of the Revenue Code an individual Thai citizen or foreigner who lives in Thailand for one or more periods totaling at least 180 days in any tax (calendar) year is, for tax purposes, deemed a resident of Thailand and subject to tax on all assessable income derived from sources within the country, whether paid within or outside Thailand, and on assessable income derived from foreign sources to the extent that it is brought into Thailand in a year in which income is received. A non-resident individual is subject to tax only on assessable income from Thai sources, regardless of payment location.

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Inheritance Tax Proposed

Posted on Mar 01, 2006 Last Updated May 09, 2012 Posted by Consultant

Inheritance tax is a levy paid by the person who inherits an estate (money or property) or a tax levied on an heir's inherited portion of an estate. Thailand does not have a specific inheritance tax system, but transferred property or benefits and income that is subject to personal income tax can be found in section 40 of the Thailand Revenue Code.

Inheritance tax proposed in Thailand

Source: The Nation March 1 2006

The Constitution Drafting Subcommittee yesterday floated an ambitious proposal to impose an inheritance tax and land tax as part of an effort to bridge income disparity.

Krikkiat Pipatseritham, a subcommittee member, said that whenever there was a political change in the country, inheritance tax was brought into discussion but never materialised.

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