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The effect of income components and tax on inequality in Thailand under comprehensive income

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  • Voramast Limteerakul

Abstract

This study compares the effects of money income, capital gains, and income tax on inequality in Thailand. The study scope is broadened from money to comprehensive income. Over 1997-2015, labour earnings were the main income source for Thai people. However, the main culprit of persistent inequality was real estate gains due to asset concentration, and asset price appreciation. The redistributive impact of income tax was far less to counteract the force of capital gains due to a small tax base and tax deductions on investment. Government may consider tax on capital gains to bridge the income gap.

Suggested Citation

  • Voramast Limteerakul, 2021. "The effect of income components and tax on inequality in Thailand under comprehensive income," International Journal of Trade and Global Markets, Inderscience Enterprises Ltd, vol. 14(2), pages 154-165.
    • Handle: RePEc:ids:ijtrgm:v:14:y:2021:i:2:p:154-165
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    More about this item

    Keywords

    D31 income and wealth distribution; D33 factor income distribution; D63 inequality; H23 tax redistributive effects; H24 personal income tax.;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies

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