On 23 December 2013, Royal Decree No. 575 was published and thereby enacted the proposed reduction of individual tax rates for the fiscal years 2013 and 2014. Effective as of 23 December 2013, and taking into account Decree No. 470 (which remains in effect), the individual tax rates for 2013 and 2014 are as follows: Income (THB) Tax rate (%) 0 - 150,000 0 150,000 – 300,000 5 300,001 - 500,000 10 500,001 - 750,000 15 750,001 - 1,000,000 20 1,000,001 - 2,000,000 25 2,000,001 - 4,000,000 30 above 4,000,000 35