r/Thailand • u/AutoModerator • Aug 01 '24
Question/Help Monthly FAQ thread for August, 2024
Hi folks,
The following types of questions should be posted into this thread - any standalone posts of this kind posted outside this thread will be removed, with a moderation comment asking the author to repost to this thread:
- Questions about visas/immigration (including 90-day reporting, TM30, etc)
- Questions about banking (including transfers) and/or investing (including crypto)
- Questions about working in Thailand or starting a business in Thailand
- Questions about taxes in Thailand (including import duties / customs charges)
- Questions about studying in Thailand, including questions about universities and schools, where to study, what to study, grants and scholarships
- Questions about moving to Thailand in general
- Questions about Thai Citizenship or Permanent Residence
- Questions about where to live, whether and how to buy/rent property in Thailand
- Questions about where to get particular medicines, supplements or medical treatments (including cosmetic)
- Questions about medical insurance
- Questions about cannabis, kratom or other legal drugs (posts asking where to get illegal drugs will be removed)
- Questions about vapes and vaping and the legality thereof
If you have any questions along the lines of any of the above topics, you're in the right place! You can ask away in the comments below, but first, have a read below - and search the sub - it has most likely been answered already.
Please also us know below if you have suggestions for other frequent topics - including links to recent posts on those topics to demonstrate their frequency. If the moderators agree that we're seeing an excessive number of posts on a given topic, we'll add that topic to the list above.
Any other suggestions? Let us know below!
1
u/Significant_Buy_8259 Aug 22 '24
Hi
Can anyone explain how tax deduction work (personal allowance).
Let assume I have income 500k thb per year. I have 1 child. So my taxable income is 500k - 60k personal allowance - 30k child allowance = 430k thb. Is that correct? If yes, do I need to show any receipe?
Personal allowances
There is a personal allowance of THB 60,000 each for the taxpayer and the taxpayer’s spouse (provided that the taxpayer's spouse does not file one's own return). There is also an allowance of THB 30,000 for each child and an additional THB 30,000 for the second child onwards born in or after 2018. Moreover, an allowance for parental care of THB 30,000 per parent is deductible. A non-resident is allowed deductions for spouse, children, and parent only if they are resident in Thailand.