Page 112 - Introduction to Investment Laws in Thailand

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- Section 64 Paying tax in 3 equal instalments"
5.2.1 Taxable Person

An individual who receives income from employment, or business
carried on in Thailand, or from the business of an employer residing in
Thailand, or from a property situated in Thailand is considered a taxable
resident and must pay tax according to the revenue code. The taxable
resident is defined as any person staying in Thailand for a period or
140
periods aggregating 180 days or more in any tax year.

5.2.2 Taxable Income
Personal taxable income is defined in section 40 of the Revenues
Code. The term covers income both in cash and in kind. The Taxable
income includes all salary and other benefits received from the employer
or other persons. The eight categories of taxable income are the following;

1) "income from personal services rendered to
employers;
2) income by virtue of jobs, positions or services
rendered;
3) income from goodwill, copyright, franchise, other
rights, annuity or income in the nature of yearly
payments derived from a will or any other juristic
Act or judgment of the Court;
4) income in the nature of dividends, interest on
deposits with banks in Thailand, shares of profits or
other benefits from a juristic company, juristic
partnership, or mutual fund, payments received as a
result of the reduction of capital, a bonus, an
increased capital holding, gains from
amalgamation, acquisition or dissolution of juristic

139 Ibid
140 The Revenue Code section 41

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