Dear All,
We would like to clarify exactly what is taxed under Thai law. This is because associates might not realize there are incomes that are taxable, for example, prizes won
In company competitions.
According to the law, employers are legally required to deduct tax from any income paid to employees and any benefits offered to employees. This includes:
- Salary/OT/Shift and Transportation Allowances/On-Call Allowances/Bonus/Bounty etc.
- Long Service Awards/Innovation Awards/Prizes/Optical Benefit / Provident Fund employer contributions (deducted by the Fund itself) etc.
For tax payment and reporting purposes, we may make payment of the above taxable incomes via payroll transactions.
Please note that the benefits that are exempt from tax according to the law are Provident Fund employee contributions, medical insurance, medical screening and funeral assistance.
Let us know if you have any questions or contact TH - Payroll.