Question 1

How does Thailand's personal income tax withholding work?

Accepted Answer

Thai PIT uses progressive rates on annual net income: 0% (up to THB 150,000), 5% (150,001-300,000), 10% (300,001-500,000), 15% (500,001-750,000), 20% (750,001-1,000,000), 25% (1,000,001-2,000,000), 30% (2,000,001-5,000,000), and 35% (above 5,000,000). Employers estimate the annual tax and divide by 12 for monthly withholding, adjusting for personal allowances and declared deductions.

Question 2

What Social Security contributions appear on a Thai payslip?

Accepted Answer

The Social Security Fund (SSF) requires contributions of 5% each from employee and employer, calculated on monthly wages between THB 1,650 and THB 15,000 (cap). This means the maximum monthly contribution is THB 750 each. The fund covers sickness, maternity, disability, death, child allowance, old age pension, and unemployment benefits. The government also contributes a smaller percentage.

Question 3

What is a provident fund in Thailand and is it mandatory?

Accepted Answer

A provident fund (Klong Tun Samrong Liang Cheep) is a voluntary retirement savings scheme set up by employers. Both employee and employer contribute between 2% and 15% of wages. It is not mandatory, but many medium and large companies offer it as a benefit. Contributions appear on the payslip and are tax-deductible for employees up to THB 10,000 per year (with additional exemptions for amounts between THB 10,000 and THB 490,000).

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