THAILAND: RECENT DEVELOPMENTS

Journal
Prasongprasit, R.
Asia-Pacific Tax Bulletin 1999 (Volume 5), No. 7
Price USD 45

The first THB 50,000 of salary income are exempt from personal income tax. For the two-year period ended on 31 December 1999, tax relief is given for debt restructuring transactions. The VAT rate was reduced from 10% to 7%, and the 1.5% rate was abolished, effective 1 April 1999.