The Director-General of the Revenue Department has announced the signing of a new law to reduce personal income tax rates. The Royal Decree has been promulgated by His Majesty the King, and is expected to be published in the Royal Thai government Gazette this month. The new tax rates will be applied to the 2013 tax year.
In order to comply with the new law that is expected to take place, HR will have to work within a tight timeframe to process this month's payroll and adjust the 2013 withholdings to reflect the new rates.
Please be aware that if it turns out that these new tax rates cannot be applied to the 2013 tax year, staff members will have to make the appropriate adjustments when filing their 2013 Thai annual personal income tax returns next year.