Thailand

Thailand uses a progressive income tax system with eight brackets, ranging from 0% on annual income up to THB 150,000 to 35% on income above THB 5,000,000. A standard deduction of 50% of employment income (capped at THB 100,000) applies, plus personal and dependent allowances. Social security contributions are 5% of monthly salary for both employer and employee, capped at a maximum salary of THB 15,000 per month (maximum contribution THB 750 per month each). This is a relatively low cap, meaning social security is a minimal cost for higher earners. Tax deductions include life insurance premiums, health insurance, mortgage interest, provident fund contributions, SSF/RMF investments, and charitable donations. Thailand has a Long-Term Resident (LTR) visa program offering a flat 17% income tax rate for qualifying high-income individuals and specialists. Capital gains are generally taxed as ordinary income. VAT is 7% (reduced from the standard 10%). The corporate tax rate is 20%.