Authorities backtrack on move to tax interest from bank deposits

The Revenue Department has withdrawn a much-criticized demand for bank depositors to provide written consent to allow their banks to deduct tax on interest earned on deposits. Revenue Department spokesman…

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Savers earning over 20,000 baht interest a year to face 15 percent tax

Bank depositors in Thailand who earn more than 20,000 baht interest a year from their bank deposits will now be taxed 15% on the interest they earn, according to Finance…

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