Thailand Tax Calculator

Welcome to our Thailand tax calculator. Be sure to check out our other articles about how to reach Financial Independence and Retire Early (FIRE) in Thailand. Low taxes combined with some of the best investments available anywhere to the average person (called LTF’s & RMF’s) make Thailand one of the best countries in the world for FIRE.

Click here to open the tax calculator in Google Sheets. You will only be able to edit the cells that have a background color of blue. If you would like to have your own copy, you can use ‘download as’ under the file menu. Once you have downloaded it to your own computer you can enable editing.

Directions for use:

1. Enter your monthly salary in D4
2. Enter your total personal deductions in D6
3. Enter the amount you paid for social security up to a maximum deduction of 9,000B in D7.
   
4. Enter your life insurance and investment amounts in D9, D10, and D11 (please note the maximum amounts that are calculated for you in F9 to F11)
5. Enter the total tax your employer has deducted in E30. The amount in E31 is your refund or amount owing
6. You can view the difference in your annual tax with and without investments in rows 25 and 26.

Here is a quick summary of personal deductions:

• Everyone who is receiving a salary in Thailand can deduct 50% of their annual salary up to 100,000B
• Everyone can deduct a self-care allowance of 60,000B
• 60,000B if you have a dependent spouse
• 30,000 for each biological child under 25 years old. 60,000B for 2nd and further biological children born in 2018 or after
• Amount paid for home loan interest up to 100,000B

You can refer to this website for a more in-depth explanation of deductions.

If you have tax-deductible investments, you will get tax forms by email or by regular mail from the asset management company at the beginning of the next year and you submit those forms when you file your taxes to confirm your purchases.

Please read the disclaimer. This Thailand tax calculator is presented ‘as is’ and no guarantee is made as to its accuracy. Thailand tax law can change rapidly with little communication, and while I try to keep the tax calculator up to date I cannot make any guarantees. The revenue department’s website hasn’t been updated since 2014! My employer took over a year to update my withholding tax after the rules last changed in 2017, so it’s not uncommon even for financial officers in Thailand to be misinformed. You are strongly encouraged to obtain professional tax advice.