Details

  • Type: Publication series
  • Date: 12/5/2013

Thailand – New Decree Lowers Top Tax Rates, Expands Brackets 

KPMG in Thailand reports that the government has approved a Royal Decree implementing new progressive personal income tax rates to be effective retroactively for the tax year 2013 and for 2014, thereby reducing the highest marginal tax rate from 37 percent to 35 percent and expanding the tax brackets from five to seven, adding the two new tax rates of 15 percent and 25 percent. In retroactively applying these new tax rates to 2013 compensation and tax liability computations, there will likely have been over-withholding of taxes throughout 2013.

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Thailand – New Decree Lowers Top Tax Rates, Expands Brackets
 

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