Tax Calculation Method With Tax Deduction

Approaching the new year. For those who have income, are probably (secretly) thinking about paying taxes, right? To say that paying taxes is the duty of the people who have to pay to the government as required by law. So that the government will use this money to benefit and develop the country. For those who deliberately avoid paying taxes or providing false information to pay less tax, there is a penalty under the law, both fines depend on each case. A good way to make it legal from the start is better than that. For the best guide you should visit here https://taxbugnoms.co/ลดหย่อนภาษี-2563/

Thinking Individual tax can be calculated in 2 ways, which are the estimated income tax calculation. (Taxable income x0.5%), which applies to people with incomes of type 2-8 (m 40 (2) - (8)) and net income tax calculation with a ladder.

Today we will talk about the calculation of the net income tax ladder. Which is the most commonly used method?

What is "income" in tax?

Income or income is the income that we receive from work. From property leases from investments and others throughout the tax year. And is the money that the law requires us to evaluate to pay tax Which is called 8 types of assessable income When we have income Must continue to look at the expenses

"Expenses" for individuals Must think from

Expenses throughout the tax year What will be calculated when all documents are not kept?

Tax expenses or expenses. We have to start by looking at income or income throughout the tax year. About what we got and where we got it Because the Revenue Department has to calculate the expenses that will be deducted from the income According to the type of income we receive Income here is divided into 8 types as follows

Type 1 income from salaries and type 2 wages. These two positions are combined. Can deduct net income up to 50% but not more than 100,000 baht

Category 3 Copyright and intellectual property (Value of Goodwill ) can be used to pay 50% of income but not more than 100,000 baht.

Category 4 Interest, dividends, interest on deposits Expenses cannot be deducted.

Category 5 Rental of assets Money from breach of rental contract Money from breach of purchase contract Bring to account for 10-30% of this type of income Depends on asset type

Category 6 Income: independent professions (As specified) Income from self-employed as specified Bring to account for 30-60% of the income depending on the occupation

Category 7: Contractors for both labor and the value of Such as revenue from construction Can be used to calculate expenses up to 60% of this type of income

Class 8 Other types of income Are income that does not fall into the category 1-7 of the income which can be deducted according to the actual expenses But if the income is derived from 43 types of income, the cost can be deducted (60% of the income)

or seniors (65 years of age in the tax year) and people with disabilities (holding a disabled identity card) with income and must file tax The benefits can be deducted by spending 190,000 baht from any income earned in that tax year.

Before going to see the list of tax deduction rights Must say first that The tax allowance of 10,000 baht does not necessarily mean lower taxes for 10,000 baht me because this allowance is to remove the assessable income less. So the time is taken to multiply the tax rate will be more economical.