Thailand to woo high skilled expats with tax cuts?

THAILAND: Director-general Ekniti Nitithanprapas announced that the Revenue Department is considering a reduced income tax rate of 17% to lure high skilled foreign professionals who are willing to work in local industries where there is a strong demand for their expertise.

Thailand’s personal income tax rate mandate is progressive and contingent to the salary level. People whose annual income is between THB150,001 (USD4,518) to THB 300,000 (USD 9,000) are subject to a 5% tax, while those with an annual income above THB 5 million (USD 151,000) are subject to the top tax rate of 35%.

The government has already approved measures to attract high potential foreign talents. In addition to the proposed tax privilege, it has also approved reducing the import duties of goods such as wines, alcoholic beverages and cigars by half for five years as part of the talent courtship.

Ekniti assured the potential expatriates that they can work anywhere in the country as long as they meet the quality talent requirements of Thai employers.

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