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Individual Tax compliance and tax filing.

Individual Tax Compliance and Tax Filings in Thailand

The Thailand & USA Treaty of Amity, individual tax compliance

 

Whether you need personal income tax compliance (PIT) services as a payroll client of AO or you’re a fiduciary client needing PIT planning advice tax return preparation and a Thai tax residency certificate, AO protects you from the pitfalls of the Thai Revenue Code. AO makes sure to help Thailand become a tax save heaven for you and your family. 

The tax compliance landscape in Thailand involves a range of considerations, from deadlines to the choice of filing jointly or separately if you’re married. Understanding these aspects is critical for anyone who wants to remain compliant with Thai tax law and avoid any unpleasant surprises from affecting you personally. AO offers a comprehensive expertise for individual tax compliance and filings in Thailand.

The Thai Tax Calendar: When to File

In Thailand, the tax year aligns with the calendar year. Individuals must file their PIT returns by 31 March of the following year for hardcopy submissions and 8 April for online submissions. However, if you are an individual renting out property or running a property business, you are also required to file a mid-year tax return by 30 September.

Who is Required to File?

If you earn more than THB 120,000 when filing as a single person or THB 220,000 when filing jointly married persons, you are required to file a tax return. Even those with other sources of income exceeding THB 60,000 (for a single person) or THB 120,000 (for married persons) are obligated to file PIT returns.

Filing Choices for Married Individuals

Each spouse has the choice of filing their tax compliance returns either individually or jointly. This choice could affect the rate of taxation and the amount of allowable deductions, so it’s crucial to consider your entire financial picture when making this decision.

Tax Withholding and Payment

In most cases, income tax is withheld at the source, especially for employment income and freelance or sub-contracted work. The remaining balance, if any, is payable when filing the annual PIT return. This means that by the time you file your annual PIT return, a significant portion of your tax liability might have already been covered through withholding tax.

 

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John Casella

Chief Executive Officer

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John has more than 30 years of professional experience in accounting and business consulting for a wide range of companies and projects in South-East Asia and North America. He holds active licenses as both a Certified Public Accountant in the USA and a Chartered Professional Accountant in Canada. 

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John joined AO in 2022, after building up a strong team at PKF and Baker Tilly where he was in charge of the accounting, tax advisory and corporate legal teams, as well as provision of integrated services to accounting and payroll clients. John first started working in Thailand in 1997 and spent 10 years in corporate advisory services. He began his career based in Canada as a financial auditor for Arthur Andersen.

The Most Frequent Questions

You can file your personal income tax via a hardcopy submission by 31 March or online by 8 April of the following year. Business owners must also file a mid-year tax return by 30 September.

Single individuals with an income below THB 120,000 and married persons with an income below THB 220,000 are not required to file a tax return. Additional allowances are available based on specific criteria like dependents, education, and home loans.

Yes, Thailand operates on a system of tax returns, which must be filed annually or biannually, depending on your employment or business status.

If you have more questions?

Failing to pay taxes can result in penalties, surcharges, and even legal action. Non-compliance with tax regulations is taken seriously in Thailand.

There are various types of tax exemptions in Thailand, such as those related to certain types of investments or savings plans. However, these exemptions vary and should be reviewed based on individual financial circumstances.

Taxes in Thailand are generally withheld at the source for employed individuals. The annual tax return serves as a reconciliation, where you can also claim deductions and allowances.