Summary about file your Personal Income Tax & New Schemes on EV Package and Tax Exemption for foreigners

🔥 Last chance to file your personal income tax. 

The deadline for filing paper tax return is 31 March 2022, while online filing through the e-Filing system can be filed until 8 April 2022. 

If you have an assessable income in the salary portion of more than 120,000 baht per year or if other types of income are more than 60,000 baht per year, you must file personal income tax even if there is no tax to be paid.

The bottom line is that filing taxes is not scary as some of you may even receive a tax refund if the withholding tax was previously withheld, but the truth is that you do not meet the income tax threshold or have a tax payment less than the amount of withholding tax that has been withheld.

If you have multiple jobs and different income types, it is best to consult a professional tax planner to make sure you are able to file taxes correctly and pay the correct amount of taxes as well in order to prevent any complications that may arise in the future.

---

🚙 🔋 The Cabinet has approved EV PACKAGE to reduce tax with subsidies to support the use of electric cars and motorcycles, starting from 2022-2025, with benefits for various car manufacturers (both self-manufacturer and importer), which is divided into the following vehicle types.

Electric car with a suggested retail price of not more than 2 million baht (not more than 30 kilowatts/hour).

• Reduce import duty up to 40% (2022-2023).
• Reduce car excise tax from 8% to 2%.
• A subsidy of 70,000 baht.

Electric car with a suggested retail price of 2-7 million baht (30 kilowatts or more/hour).

• Reduce import duty up to 20% (2022-2023).
• Reduce car excise tax from 8% to 2%.
• A subsidy of 150,000 baht.

Pickup truck with a suggested retail price of not more than 2 million baht (30 kilowatts or more/hour).

• Reduce an excise tax to 0%.
• A subsidy of 150,000 baht.

Motorcycle with a suggested retail price of not more than 150,000 baht.

• A subsidy of 18,000 baht.

🇹🇭The Cabinet has approved the reduction of personal income tax for foreigners to 17%.

Personal income tax exemption for 3 groups of Long-term Resident Visa (LTR) holders on assessable income in the past tax year.

• Wealthy global citizen such as investors in Thai government bonds or real estate of not less than 500,000 USD (FDI) or have assets of not less than 1,000,000 USD, etc.
• Wealthy foreign pensioners.
• Work-from-Thailand professionals are people who work and submit jobs online, earn money from aboard as well as spend more than 180 days in Thailand.

**Important! exempt on assessable income tax from work or property performed/located aboard in the past tax year.

Reduce personal income tax rate to 17%. The principle to be used in the calculation is that there must be a consent to withhold tax at the rate of 17%, and there must be no refund or request to use it as a full or partial tax credit.

In this regard, please adhere to the rules, procedures and conditions as announced by the Director-General of the Revenue Department which at present have not yet been announced and must continue to follow up.