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Thai Cabinet approves lower tax rates

Provinces of Chonburi, Rayong and Chachoengsao will expect a new tax rate of 17% for personal income taxes for executives, experts and researchers in the days to come.

The Cabinet on Tuesday has approved the Finance Ministry’s proposal to cut its income tax rates from 35%. This new rate, however, will only be targeted under the following industries: next-generation automotive, smart electronics, affluent (business related), medical and wellness tourism, agriculture and biotechnology, “food for the future”, robotics, aviation and logistics, biofuels and biochemical, “digital” and medical hub (medicine).

Souce: nationmultimedia.com