Tuesday, March 20, 2012

A Flat Tax on Personal Income is Under Consideration in Thailand

The Bangkok Post edition of March 20, 2012, reported that Thailand is reviewing the pros and cons of a flat-rate tax on personal income as a possible replacement for the current four-bracket system of 10%, 20%, 30%, and 37%.  The goal is to eliminate loopholes, broaden the tax base, simplify the system, and in so doing collect more revenue than the current personal income tax.