Taxation of international executives
Are there social security/social insurance taxes in Thailand? If so, what are the rates for employers and employees?
Employer in Thailand with one or more employees is required to register for social security fund and each is required to contribute at the rate following.
|Type of insurance||Paid by employer||Paid by employee||Total|
|Disability, maternity and death benefits
|Child and old age benefits||3.0%||3.0%||6.0%|
|Total social security tax||5%||5%||10%|
The Social Security Act is used to finance compensation to employees for maternity, death, unemployment, accidents, illnesses, and physical disabilities occurring outside the workplace.
Employees’ contributions are withheld from their wages by employers and are allowed as a tax deduction against employee’s assessable income. Employee and employer's contributions are remitted monthly to the appropriate authorities and failure to remit the contributions results in penalties.
Employers (with one or more employees) and the government are each required to contribute 5 percent of the employee’s wage to the social security fund, subject in each case to a maximum contribution of THB750 (5 percent of THB15,000) per month.
Employees pay contributions at 5 percent, subject to a maximum contribution of THB750 (5 percent of THB15,000) per month.
Are there any gift, wealth, estate, and/or inheritance taxes in Thailand?
The gift and inheritance taxes in Thailand have been enforced in February 2016.
Are there real estate taxes in Thailand?
Are there sales and/or value-added taxes in Thailand?
Thailand has VAT system. Self-employed individual may be subject to VAT if the income is VAT income and if the amount is over the threshold amount.
Are there unemployment taxes in Thailand?
Part of the social security tax.
Are there additional taxes in Thailand that may be relevant to the general assignee? For example, customs tax, excise tax, stamp tax, and so on.
Is there a requirement to declare/report offshore assets (e.g. foreign financial accounts, securities) to the country/territory’s fiscal or banking authorities?
© 2021 KPMG Phoomchai Tax Ltd., a Thailand limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.