Thailand Tax Rates
Thailand operates a progressive personal income tax system with rates from 5% to 35%, administered by the Revenue Department. The standard corporate tax rate is 20%, and VAT is 7% (temporarily reduced from 10%). Thailand taxes residents on worldwide income if remitted to Thailand in the same year it is earned, and has been expanding this to cover all foreign-sourced income from 2024. The country offers extensive investment incentives through the Board of Investment (BOI).
Top Income Tax Rate
35%
Corporate Tax Rate
20%
VAT / Sales Tax
7%
Capital Gains Tax
35%
Detailed Tax Information
Income Tax Brackets
Thailand's personal income tax has eight progressive brackets from 0% to 35%. The first THB 150,000 of taxable income is exempt. Residents are taxed on Thai-sourced income and on foreign-sourced income that is remitted to Thailand. From 2024, Thailand changed its rule so that all foreign-sourced income remitted to Thailand is taxable regardless of the year it was earned. Various deductions and allowances are available including personal allowance (THB 60,000), spouse allowance, child allowances, and deductions for insurance, provident funds, and social security.
| Income Range | Tax Rate |
|---|---|
| ฿0 – ฿150K | 0% |
| ฿150K – ฿300K | 5% |
| ฿300K – ฿500K | 10% |
| ฿500K – ฿750K | 15% |
| ฿750K – ฿1.0M | 20% |
| ฿1.0M – ฿2.0M | 25% |
| ฿2.0M – ฿5.0M | 30% |
| ฿5.0M+ | 35% |
Corporate Tax
Thailand's standard corporate income tax rate is 20%. Small and medium enterprises (SMEs) with paid-up capital not exceeding THB 5 million and revenue not exceeding THB 30 million enjoy reduced rates: 0% on the first THB 300,000 and 15% on THB 300,001-3,000,000 of net profit. Companies granted BOI (Board of Investment) privileges may receive 3-13 year corporate tax holidays and other incentives depending on the activity and location. Listed companies on the SET may receive a reduced rate of 15% for a specified period.
Standard Rate
20%
Small Business Rate
15%
Capital Gains Tax
Thailand does not have a separate capital gains tax. Capital gains are treated as ordinary income and taxed at the progressive personal income tax rates up to 35% for individuals, or at the 20% corporate rate for companies. However, gains from selling shares on the Stock Exchange of Thailand are exempt from income tax for individual investors. Non-residents may be subject to withholding tax on Thai-sourced capital gains.
Rate
35%
VAT / Sales Tax
Thailand's VAT is currently levied at 7% (a temporary reduction from the statutory 10% rate that has been continuously renewed since 1999). VAT applies to the sale of goods and provision of services in Thailand. Exempt supplies include basic agricultural products, healthcare, education, domestic transport, and certain financial services. Small businesses with annual turnover below THB 1.8 million are exempt from VAT.
Standard Rate
7%
Cryptocurrency Tax
Thailand taxes cryptocurrency at a 15% withholding rate on gains from digital asset trading and transfers. Gains from crypto are classified as assessable income subject to personal income tax. The Revenue Department confirmed that gains from crypto trading, including token-to-token exchanges, are taxable events. Losses can be offset against gains within the same tax year.
Tax Treaties
Thailand has approximately 61 double taxation agreements in force. These treaties provide reduced withholding rates on dividends, interest, and royalties. Thailand generally follows the UN Model Convention for its treaty negotiations, reflecting its developing country status. Thailand has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
Treaty Network
61
Double taxation agreements
Major treaty partners:
Key Details
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+$19K
Tax in United States
$24K
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Tax in Thailand
$5K
5% effective
You Save
79.5%
less tax annually
US Citizens: Important Note
US citizens are taxed on worldwide income regardless of residence. You'll still need to file US taxes, though the Foreign Earned Income Exclusion and Foreign Tax Credit may reduce your liability.
