The new personal income tax rates for the 2013 tax year will likely be delayed, says Jitmanee Suwannapool, the Revenue Department’s principal adviser on tax base management.
Flip flop on rice and now flip flop on this, so the personal income tax reduction that was at first to be implemented for this year salary folk is going to postponed until next year. Now is there going to be a major impact on consumption and consumer related companies, I doubt it, officially only about 3 million people pay personal income tax in Thailand and this impact just delays the potential additional growth that will eventually come. However I’m still miffed by the fact that companies earning hundreds of millions/billions of baht will pay less tax than I do and that governments here will continue to waste tax payers money on promoting themselves to be relected through populist policies.
Chart & Quote Source: Bangkok Post