Question: How do we do deductibles for income tax in Thailand?
In Thailand, rental income is treated as personal income and will be subject to tax.
It is important to note that in Thailand, there are legitimate items that can be treated as deductibles so that it will lower your chargeable personal income.
Some examples of such deductibles would be agent’s commission and cost of furnishing the property. These can be offset against the total rent collected by you.
For more clarity on what are the eligible items for deductibles or how to go about doing it, it is a good idea to engage a competent local agent to assist in this matter.
Over at BKK Gonyu, we have a team specializing in property management. Please do feel free to check with us if your Bangkok property requires property management services.