The Thai government is considering cutting the rate of personal income tax for highly-skilled foreign workers, in order to attract more talent to the kingdom. Ekniti Nitithanprapas from the Revenue Department says officials are mulling the possibility of reducing the rate to 17%.
The Bangkok Post reports that the rate of personal income tax in Thailand is based on salary and set at 5% for those earning between 150,001 baht and 300,000 baht a year. Workers with a yearly salary of more than 5 million baht are currently subject to 35% income tax, which is the highest rate.
It’s understood that highly-skilled foreign workers would need to be employed in areas in which Thailand has a shortage in order to qualify for the tax cut, but would be permitted to work anywhere in the kingdom. However, Ekniti says tax cuts alone will not attract foreign experts to Thailand, adding that factors…
