Qualified Thais returning to their homeland will be required to pay a personal income tax of only 17% for five years, Paopoom said. That compares with the maximum 35% rate for residents who earn 5 million baht ($186,872) or more annually.
Thailand will slash by about 50% the personal income tax rate of professionals who are willing to return home to work for companies as the nation seeks to attract manpower for industries ranging from electronics, automobiles, robotics and aviation.
Prime Minister Srettha Thavisin’s cabinet approved the tax breaks on Tuesday to lure “the cream” of overseas Thai workers, Deputy Finance Minister Paopoom Rojanasakul told reporters.
