111tingtong

On 8/12/2017 at 1:31 PM, tomwct said:

Believe me you lost money! It's very dangerous to buy anything of value in Thailand and make money, but why did you set-up

a company for the condo? You can buy a condo in your name. Have you got the proceeds from the sale? If so, why pay an additional tax. Just leave the country. Since you seem like a nice chap, I won't charge you a consulting fee for this advice!, this time!

Believe me I made money on the sale purely from the exchange rate as mentioned. I guess you could say I lost out on gaining more money.

To have the condo in my name would have cost me aprrox. 1.5M extra. All the condo companies do this con

Leave the country to dodge a wee bit of tax? quite happy in the land of corruption thank-you, however it does sound like you have experience....

12 hours ago, KittenKong said:

 

Maybe the buyer didnt want to take on a company with unknown debts and obligations? I wouldn't want to either.

 

Maybe some Thai person (or some farang with a Thai partner or family member) bought it?

Correct, the buyer did not require the Company as he put it in his Thai girlfriends name...

Update- from previous I was quoted/informed to pay tax to the amount of 70K. This dropped to 40K soon after. Now after a couple of months requesting to see tax documents indicating the amount payable I finally have the correct answer. Basically I do not need to pay any tax. The law office sent me an email, stating "good news for you"!!! And that there is no requirement to pay tax on the sale at they registered it in RD system, whatever that is and that cost 3K. I also received a very unprofessional phone call from the director of the company asking silly questions like "do you not like this company?". 

I can't say for sure but it looks like I narrowly escaped from being ripped off, what a surprise. I can't imagine how much deception these lawyers get away with when dealing with foreigners and most likely Thais with regards to property, however we all know this happens anyway and apart from

being an expert on law matters were normally at the mercy of the lawyers honesty/dishonesty.

2 minutes ago, KittenKong said:

 

That would suggest that you are indeed selling the condo on first (which will incur those 5-6% taxes/charges I mentioned but that he apparently doesnt consider at all) and then winding the company up afterwards (which will cost an unknown amount in tax/accounting fees and a specific but variable fee for closing it).

 

The Land Office can tell you in advance precisely what the taxes/fees for transferring the condo will be but you need to be more clear about what you are actually doing.

 

 

 

Sounds like "the most credible and re-assuring American businessman" in Pattaya. But he's buggered off back to North Carolina where he is being prosecuted for various misdeeds committed there.

 

For me the credibility rating of so-called lawyers in Thailand is indistinguishably close to zero.

 

The fee for closing the company is 30K. I might have a buyer for the Company which will cost 10K to transfer the director.

I have already sold the condo a year ago and the transfer fees have already been paid. I kept the company going for a further year to see if I could sell /transfer it to someone else. Now its time for the yearly balance sheet (15K), and I was also advised of the 15% tax which would have to be payed before June. This is purely for the Company business income/profit tax (sale of the condo). So don't think its anything to do with the land office now. Must be the tax office wherever that is that I would have to ask however as you can imagine the tax office, land office and lawyers/accountants probably were all on the same substance at university together so I'm probably pissing into the proverbial wind!

The law office in question is Thai, no foreign element in it at all.

5 minutes ago, funandsuninbangkok said:

Another Thai real estate investment success story!

 

has to pay huge fees to get out of investment that lost 30%

 

rent in Thailand, buy elsewhere 

Actually I didn't really lose anything due to the GBP rate difference between the date of buy/sell. However you are correct, especially in places like Pattaya, a big rip off where the lawyers/accountants are making the rules up to unsuspecting condo/property owners (like me).

16 hours ago, KittenKong said:

You aren't particularly clear but it sounds as though your company is selling the condo it owns to an individual or another company, leaving you with a company with no assets.

 

If so then property taxes and transfer fees will apply and these generally come to around 5-6% of the declared sale price or the assessed value, whichever is the greater. It makes no difference whether you are making a profit or loss on the sale. This is up for negotiation as to how it is split between the two parties.

 

On top of that you may have some company income tax to pay, though if you are selling at a loss this seems unlikely. And then on top of that you will have either some costs involved in selling the company, or some costs involved in closing it if you dont keep it or sell it.

 

I  have no idea where your lawyer gets that 15% figure from. In fact that's not true: I suspect that he plucked it out of his backside and that it includes some nice commission for him. Who would deal with any lawyer who cant give a straight answer? Not me.

Hi,

Yes as I suspected, ramping up the % for their slice of the cake.

These are the lawyers exact words "The tax amount will do when the accountant do the balance sheet or close the company at that time, because the Tax office have to announce what rate of the profit for the time, right now the tax is 15% from the profit"

And just to add to this (won't name any names) but this was supposed to be the most reputable property lawyer in Pattaya!!!

1 hour ago, trogers said:

What were the assessed values of the property during buy and sell?

Unfortunately that one I don't know. I bought the Condo new for cash. I did not get it valued prior to the sale, basically lowered the price and hoped for the best.

Hi,

Can anyone shed some light on the above tax due to selling a condo in a Thai Company name.

The Condo was purchased for 3.4 Million Baht (2008) and Sold for 2.6 Million Baht (2016). My lawyer has informed me that there will be tax due to the tune of approx. 70,000 Baht. Seems a bit excessive considering I actually lost money so there should be no tax from profit? Now the income tax, ok now this might be an income during the tax year but again its actually a loss in the big picture? The lawyer says it will be 15%, but when I try to get a straight answer "15% of what?" I get vague replies. 70,000baht is 15% of 466,666 Baht. Where on earth does that figure come from.

I don't mind paying the amount if its correct however if I am about to be ripped off please someone advise what it should be approximately.

Also once the balance has been sorted if anyone would like a Thai Company (Free) can contact me. I believe its just a quick change of directors for a small fee (we can share). 

Cheers

J

I love Lazada and its Pay on Delivery service.

Below from the Lazada staff, took approx 1 hour for a reply:-

"Good day!

Thank you for reaching Lazada.

There are three groups of items here in Lazada. They are (1) item sold and fulfilled by Lazada, (2) item sold by our partner seller in Thailand, (3) item sold by our partner seller abroad.

In order for you to know which item is sold by our partner seller in Thailand and is on a cash on delivery, you can sort it by delivery time. Because, items sold by our partner seller abroad has a longer delivery time frame."

This works as I do it all the time. If you filter delivery time and are still getting the same international sellers it more than likely because there are no Thailand distributors for that item.

Hi All,

Does anyone know if the "SOLD as Seen" law exists in Thailand? I have just traded in a pick-up to a dealership against a brand new top of the range model. The manager had a good look at the car and offered a price which we agreed on and accepted. The money was handed over for the pick-up, deposit for the new car payed and all seemed well. However the following day the dealer informs me that there is something wrong with the gearbox and he wants me to pay more money or cancel the deal and get my truck back and return the money. I know for sure this would not be possible in the UK. Where do I stand in Thailand with this from a legal perspective?

Thanks

Hi All,

I have an issue with my Colorado Gearbox where the overdrive won't engage, it was working previously. The pick-has been converted from manual gearbox to an automatic. The automatic gearbox is from an Isuzu, there is a plate on the side of the gearbox with model number 03-72L (AISIM AW Co. Ltd).

I read on some Isuzu forum some time ago that there is a temp sensor on the gearbox somewhere that if non-operable will stop the overdrive working. The purpose of the temp sensor is to allow the gearbox to warm up before the overdrive can be selected. However I am not certain where the sensor is located or if it has been fitted during the modification at all!

Below are some photos of the gearbox.

If anyone has any ideas where the fault could be or the temp sensor is located please let me know, its a pain on the highway not being able to select this gear and costing a bomb at the same time.

I live in Chiang Mai and if anyone knows of any gearbox specialist please let me know. I took the pick-up to Chevrolet and they dont want to know as it has an Isuzu gearbox in it, i took it to Isuzu and they dont want to know as its a Chevrolet!!!!!! grrrrrr

Any assistance would be appreciated.

Cheers

Below the first sensor

On the right hand side there is the the gear linkage which also has some wires going into it.

On the left hand side of the box there is another sensor!?! fitted. I removed the two bolts and had a look but it doesn't look like a temp sensor. There were two o rings and a couple of ports, maybe a pressure sensor!

Another picture of this sensor in the center of the photo with the loom attached.

And here's the gear lever with the overdrive button.

Hi All,

I have an issue with my Colorado Gearbox where the overdrive won't engage, it was working previously. The pick-has been converted from manual gearbox to an automatic. The automatic gearbox is from an Isuzu, there is a plate on the side of the gearbox with model number 03-72L (AISIM AW Co. Ltd).

I read on some Isuzu forum some time ago that there is a temp sensor on the gearbox somewhere that if non-operable will stop the overdrive working. The purpose of the temp sensor is to allow the gearbox to warm up before the overdrive can be selected. However I am not certain where the sensor is located or if it has been fitted during the modification at all!

Below are some photos of the gearbox.

If anyone has any ideas where the fault could be or the temp sensor is located please let me know, its a pain on the highway not being able to select this gear and costing a bomb at the same time.

I live in Chiang Mai and if anyone knows of any gearbox specialist please let me know. I took the pick-up to Chevrolet and they dont want to know as it has an Isuzu gearbox in it, i took it to Isuzu and they dont want to know as its a Chevrolet!!!!!! grrrrrr

Any assistance would be appreciated.

Cheers

Below the first sensor

On the right hand side there is the the gear linkage which also has some wires going into it.

On the left hand side of the box there is another sensor!?! fitted. I removed the two bolts and had a look but it doesn't look like a temp sensor. There were two o rings and a couple of ports, maybe a pressure sensor!

Another picture of this sensor in the center of the photo with the loom attached.

And here's the gear lever with the overdrive button.

Walen prices are not extortionate, lost of students so not sure where you got this idea from, obviously there are students willing to pay what we believe is reasonable and those prices were tested. You can say that you are looking for something cheaper and that Walen is too expensive but for many students it is not.

Walen School - what we do works

22,500 Baht for 30 hrs . Was going to try Walen however done some research and realized too many negativities. All the best with your business.

Walen School - its just too expensive

Thanks for all the good advise I will look into all of them and revert with some feedback

Wow no-one has had any good experiences with a Thai Language Tutor!!!!

TingTong,

Some questions.

What if any is your current level of Thai language?

What are your expectations/aspirations ? Basic surival/ read/ write or whatever?

What s your your budget. do you wish one-to one; group or school?

Perhaps I can help you but I need you to clarifify.

I have a very basic grasp of the language. Would like good conversational skills and able to read and write, quite serious about learning. It needs to be private lessons as I work out the country on a month on/off rotational basis. I don't have a budget and don't mind paying the going rate for good tuition but I won't be sucked into extortionate rates like some places are asking for private 1 to 1.I hear good things from Pro Language and their rates seem reasonable for private tuition. I have also researched pros and cons from several language schools in Chiang Mai. However was speaking with a friend and he suggested I put a post on TV for up to date info regarding teachers. I might then be able to attract the attention of some of the university teachers who are looking to make extra income. I was goingntomgo with Pro Language but I thought I would try this avenue first to see if it produces anything worthwhile.There must be someone that has had some excellent experiences with certain private teachers reading this forum.

Thanks

Hi all,

I'm looking for some up to date info regarding Thai Language Teachers in Chiang Mai.Can anyone suggest a teacher/tutor for private lessons and NOT at the extortionate prices offered at Walen

Thanks for any replies.

I'm not interested in the visa aspect of these institutions, I do however require flexibility with the course sessions. I work out the country on a rotational month on/off basis. Is it still possible to attend either one of these establishments?I am concerned that I may not be able to hold a conversation at the completion with Walen. I have always thought that learning to read/write first regardless if you can converse, gives you a far stronger language base to move forward with. Would the conversational aspect not become second nature afterwards?I also have to be honest and say I'd rather have a little hottie teach me than an old dragon, I think it would spur me on to produce the goods, sort of a male ego thing.When do I start?

This happened to me onboard an Air France 747 from CGD to BKK, only they had to shut down two engines! spent a night in Disney World.

Not long after take off, most likely a bird strike....

Strange, just received this email this morning that might help.

DNS PACK AND MOVE INTERNATIONAL COMPANY LIMITED

No. 940/88 Moo 12 Bangna, Bangna Bangkok 10260 THAILAND Tel. 0 2396 1761, 0 2396 1762 Fax: 0 2747 4217 E-mail: [email protected]

Subject: Proposal for full packing and moving service To: Purchasing manager / Director of Procurement / Commission Section:

DNS Pack and Move international company provides a full packing and moving service with over ten year - experienced administrative team (We began our business in 1996). Our company is located at 940/88 Moo 12 Bangna Bangna District Bangkok 10260. Telephone 0-2396-1761-2 Fax.0-27474217

DNS would like to present you a full packing and moving service as an option to gain an effective service with our experience of moving both for private and government sectors by over ten year- experienced team to offer you a quality of work which customers trusted in our services. In addition,

we also

− − − − − − − − − − −

− − − − −

offer you the holistic moving tasks as follow.

Stuff moving inside resting house and condominium. Every size of Piano moving. Every size of safe moving. Office equipment moving.

Install and dismantle product shelf, partition or workstation. Factory, Warehouse, Machine moving. Medical, hospital, laboratory device moving nationwide. Computer and devices, Rack, Server, and electronics apparatus. Display equipment and product moving.

Product packing service both for local transportation and export. Crate making service for export whether clear crate, dim crate, every kind of wooden palate, Vacuum Packing. Fumigation service and TPPC stamp. Binding service for every kind of machine and product to export. In and out goods loading from every size of container. Letter service for Direct Mail delivery via postcard and e-mail for public relations.

Label, name list and every kind of data base printing

DNS pays attention on the safety of your property with well care. We use a quality materials for good packing. Our staff are expert in moving with high quality and they are well- trained in packing and moving. We have added a confidence with damage warranty for your property throughout moving. We offer a pre-survey before hiring without any charges to get the best standard of service.

We wish to serve you with our packing and moving service every time you need. Thank you for your consideration.

Your Sincerely,

(Natwirintr Komwarattana) Sales and Marketing Section

Mobile phone: 081 6271771

Hey Dave,

Not sure about Bangkok but there must be an area where theres trucks lined up advertising for rent. I moved from Pattaya a while back. On Sukhumvit Road theres was a line of them for rent. It cost me 13,000 Baht for a large truck load of stuff. You wont be insured and all that but I thought they did a great job. There is smaller trucks available too and it obviously would be alot cheaper than what I payed. I assume you havent got your own transport and I wouldnt see there being an issue travelling with the guy in the truck/pick-up.

You can add another 2,000 Baht for fuel onto your hire car, so your not far off 10K. I reckon it will cost you around 7-8,000 to hire a driver/truck/pick-up all in.

Hope this helps and good luck with your move.

Hi All,

Anyone know of anyone dealing in motorcycle wheels, rims, hubs etc? I am specifically after 17" 3.5/4.5 rims to Motard an WR450F.

Something like these...

Thanks in advance

Yeah I also noticed the manager not participating in the game at all, very quiet after previous games this season. Something internal going on.

Disgraceful scenes at the end of the game tonight. I had to go further up the back of the stand with my daughter in fear of getting hit with a bottle or beer can, and it wasn't just certain areas, there were missiles flying from all areas of the main stand, absolutely shocking. The result of some questionable refereeing decisions, but is that conduct really necessary?

I had a few cans of beer during the game but if this is one of the causes of this inappropriate behavior I'm all for banning it.

I really enjoyed the first few games but tonight has me wondering whether to go back. The police and army are scared of the supporters. Why is there random fans running on the pitch arguing and being aggressive with officials?

On a positive note the team look like they are coming together nicely. Unfortunate about loosing a late goal.