Effective September 1, 2021, foreign businesses rendering e-services to users in Thailand who are not VAT registrants (e.g. individuals, Representative/Regional Offices) are required to register to VAT if their turnover in Thailand exceeds THB 1.8 million per fiscal year and such revenue generated from Thailand-based users are subject to 7% VAT. This includes online games,
Read More...From September to November 2021 included, the monthly contributions to the Social Security Fund (SSF) are reduced to 2.5% (from 5%) of the employees’ base salaries for both employees and employers, capped at THB 375. For instance, with a salary of THB 40,000 / month:Employee’s monthly contribution: THB 375 (from THB 750)Employer’s monthly contribution: THB
Read More...From June to August 2021 included, the monthly contributions to the Social Security Fund (SSF) are reduced to 2.5% (from 5%) of the employees’ base salaries for both employees and employers, capped at THB 375. For instance, with a salary of THB 40,000 / month:Employee’s monthly contribution: THB 375 (from THB 750)Employer’s monthly contribution: THB
Read More...From February to March 2021 included, the monthly contributions to the Social Security Fund (SSF) are reduced to 0.5% (from 5%) of the employees’ base salaries for employees, capped at THB 75, and to 3% (from 5%) for employers, capped at THB 450. For instance, with a salary of THB 30,000 / month:Employee’s monthly contribution:
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From September to November 2020 included, the monthly contributions to the Social Security Fund (SSF) are reduced to 2% (from 5%) of the employees’ base salaries, capped at THB 300, for both employers and employees. For instance, with a salary of THB 30,000 / month:Employee’s monthly contribution: THB 300 (from THB 750)Employer’s monthly contribution: THB
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From year 2020 to 2024, Super Savings Fund (SSFs) will replace Long-Term Equity Funds (LTFs) for tax allowance purpose. Investments made each calendar year in SSFs are tax-deductible up to 30% of the taxpayer’s gross assessable annual income but capped at THB 200,000. There is no minimum investment amount and as opposed to LTFs and
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The Thai Ministry of Tourism and Sports recently proposed to charge every foreign tourist entering Thailand a mandatory health and life insurance fee. Set at THB 100 per trip and per foreigner, the fee would cover tourists’ medical emergency treatments and repatriation of dead bodies that is allegedly costing around THB 300 million a year
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