dinga

Facts:

* I've lived and worked in Thailand for over 11 years, with Work Permit (same firm for the whole time).

* Having reached the advanced age of 60 years, a mutually agreed retirement date has been agreed with my employer

* I have PR status so have no problem with the cancellation of the WP.

* Also all is OK thusfare re Severance pay, so no issue at the moment.

My question relates to who actually 'owns' the Work Permit.

I thought I should retain it (after its cancellation - including for reasons if I wanted re-employment - which I don't).

My HR folks say that the Labour Department will retain the WP Book.

Appreciate knowledgeable comments & advice

If you downgrade your meter ask about the deposit. On our commercial properties we have (if I remember correctly) 200 amp meters. I know for a fact that we had to pay the MEA a refundable deposit of 48,000 baht per meter.

I'm not sure if residential properties have to pay a deposit, but it's worth querying to see if you can get a partial refund.

Tks - will ask, but no way would have I paid such deposit when they replaced the dead meter a couple of years ago!

Cant' see it marked on the meter, but 2125 is shown as the Meter Type on the monthly PEA bill.

Am told by the Solar supplier -

Here's another strange question for Crossy...

What is the difference between PEA Meter Types 1125 and 2125 (I've been told the former is OK for the Solar

Home programme but the latter - which I have - is not). Seems very odd as my next door neighbour (virtually identical house has a 1125)

The ill-informed, zenophobic and downright stupid posts in this thread are enough to drive a teetotaler to drink.

For God's sake, the issue presumably is a technical one about whether or not the correct amount of tax has been paid. That is a matter best left to the appropriate authorities/courts.

Thailand IS NOT unique = tax disputes are common in every country - especially when economic times ain't great.

I note that today's news reports that the Australian Tax Office reckons BHP owes an addition US$550 million in unpaid income taxes. Do you cretins think BHP will walk away from its Pilbara iron ore mines?

The final determination of tax properly due is properly left to the appropriate authorities in each country matter (of course, this may practically pose challenges,but the principle is crystal clear), It has SFA to do with (a) nationality of the taxpayer; ( country of dispute; © amount of investment; (d) feigned consequences.

In addition, Non-brain-dead folks know there is tremendous international attention now on resolving BEPS (Base Erosiion of Profit Split) - ie, ensuring in the future that major MNCs pay tax not just according to 'law', but perhaps where the profits are actually made.

<deleted> grow up and get informed.

You are correct, tax disputes are common, However in this case tax dispute is because government changed the rules after the fact, but wants to back date it.

As i said, in my post, i do not believe Toyota will walk away, however it may shift 1 model manufacturing to another plant to save on taxes, just as BHP may and most likely will make changes to avoid hefty tax bills in the future.

I am also unsure how and why you compare BHP income taxes to Toyota import taxes? But i guess only smart people like you would understand it.

Seems the Customs Department has a different opinion (you state the dispute is because the government changed the rules after the fact).

Customs Director General is reported as saying that 1. In Toyota's case, the company did not have the necessary approvals to import components under a concessional duty arrangement (a fact apparently affirmed by an Appeal Committee); 2. In Isuzu's case, the value of imports exceeded the maximum amount that was allowed under a concessional arrangement.

In taking investment decisions, companies consider the full range of matters - taxes being but one. Sure - taking advantage of tax savings can drive (pun not intended) (re)location of manufacturing plants but the consequences of non-compliance with government requirements should not.

If BHP's tax position is ultimately determined to be unacceptable, of course the company can be expected to make the necessary changes - and probably will implement corrective actions well before that point.

In raising BEPS, I simply wanted to highlight that governments are now going to change the rules that presently allow sophisticated companies to undertake business in such a way as to pay no/minimal taxes overall ie. challenges extend to not just ensuring compliance with current tax rules, but anticipating the likely changes that will be made in the near future.

The ill-informed, zenophobic and downright stupid posts in this thread are enough to drive a teetotaler to drink.

For God's sake, the issue presumably is a technical one about whether or not the correct amount of tax has been paid. That is a matter best left to the appropriate authorities/courts.

Thailand IS NOT unique = tax disputes are common in every country - especially when economic times ain't great.

I note that today's news reports that the Australian Tax Office reckons BHP owes an addition US$550 million in unpaid income taxes. Do you cretins think BHP will walk away from its Pilbara iron ore mines?

The final determination of tax properly due is properly left to the appropriate authorities in each country matter (of course, this may practically pose challenges,but the principle is crystal clear), It has SFA to do with (a) nationality of the taxpayer; ( country of dispute; © amount of investment; (d) feigned consequences.

In addition, Non-brain-dead folks know there is tremendous international attention now on resolving BEPS (Base Erosiion of Profit Split) - ie, ensuring in the future that major MNCs pay tax not just according to 'law', but perhaps where the profits are actually made.

&lt;deleted&gt; grow up and get informed.

But before then they are likely to appreciate in value. There is a lot of money out there and with ASEAN starting prices of real estate might go further up.

Pray tell how you reach that guess (seems you are almost 50 years behind the times - ASEAN started in 1967)

I believe MW refers to the AEC Blueprint and establishment of the ASEAN Economic Community by end-2015, refered to by the masses as simply ASEAN.

Two parts to my answer:

First, a person would need to be blind, stupid or both to have not seen any of the myriad of signs that abound declaring that Thailand is ready for ASEAN 2015!

Second, my posting about AEC is simply to redirect the earlier poster who seemed to have not understood the next stage in ASEAN devlopment.

As for land prices et al: I have no idea whther it will or will not.

Not blind, but must be stupid to have missed the word "Community" between 'ASEAN' and '2015' (hope the attachment clarifies your error).

Waiting patiently for explanation re. increased land prices

You don't have to look far to see Thailand's time bombs, and they are numerous. At some point, those expensive land plots and houses will be much cheaper.

http://www.ft.com/cms/s/0/f7245dac-e513-11e4-bb4b-00144feab7de.html#axzz3Xw4zxtz0

But before then they are likely to appreciate in value. There is a lot of money out there and with ASEAN starting prices of real estate might go further up.

Pray tell how you reach that guess (seems you are almost 50 years behind the times - ASEAN started in 1967)

I believe MW refers to the AEC Blueprint and establishment of the ASEAN Economic Community by end-2015, refered to by the masses as simply ASEAN.

in that case, "the Masses" comprise two folks - you and MWski. If he's indeed referring to AEC it has never been referred to as ASEAN. I would really like an explanation as to how AEC will effect land prices - since AEC will bring NO changes to restrictions on ownership.

You don't have to look far to see Thailand's time bombs, and they are numerous. At some point, those expensive land plots and houses will be much cheaper.

http://www.ft.com/cms/s/0/f7245dac-e513-11e4-bb4b-00144feab7de.html#axzz3Xw4zxtz0

But before then they are likely to appreciate in value. There is a lot of money out there and with ASEAN starting prices of real estate might go further up.

Pray tell how you reach that guess (seems you are almost 50 years behind the times - ASEAN started in 1967)

Today in the paper. See the attachment. Banks are doing well and becoming more profitable. There is a little increase in bad loans. Let's not pretend we know so much about banking business. Like every business there is a lot of things we just don't know.

No problem - just guess.....

www.cimbbank.com.sg, structured deposits.

@chiang mai

china, russia, india, brazil, indonesia etcc have formed a new economic block in order to absolve the usd hegemony, they will bundle their

goldreserve to achieve that goal. in this respect they established already a bank opposite to the imf.

wbrroobaa01

Eligibility 18 years old & above; Singaporean, Permanent Resident or non-Permanent Resident (with work permit)

Useless unless you are eligible....

gdaya folks

cimb bank offers 10 % for 12 months, yuan 30.000 min equal to about 140.000 thb

wbr

roobaa01

CIMB Website has "Accepted currencies = United State dollar (USD), Euro ( EUR), Australian dollar (AUD), Singapore dollar (SGD)"

More info please if this is a real offering (if so, appreciate the link)

I've heard reports of this mini van to/from Mae Phim but no one I spoke to could tell me where to find it, they said you need to speak Thai. Is it easy to find it at the Victory Monument and does it depart often? I'm not travelling myself, I'm asking for a friend who's coming to visit.

Under the Victory Monument walkway (eastern side?) where a massive number of buses stop, often two or three deep, is a curved vendor area, including a decent public toilet. Curved around it is a small soi where many minivans stop to let passengers off or pick up.

Near the end of the soi where they emerge into the Victory Monument circle to head off to their destinations, is the ticket booth for minivans to Ban Phe. Probably doesn't help much, but it's opposite a 7-11 (yeah, I know - in Thailand there's always a 7-11 opposite another 7-11)

But go to any of the minivans or ticket booths, and simply say "Ban Phe" and they'll direct you to the appropriate booth. 200 baht to Ban Phe

The minivan isn't as comfortable as the big bus, but it's much faster. And they do have a pee stop in both directions.

Not sure why folks keep telling you how to go to Ban Phe when you want to go to Mae Phim - anyhow hope this helps.

1. When you get off the BTS at Victory Monument, go to Exit 4, proceed to the right and walk down the steps also to the right.

2. At the foot of the stairs, walk back towards the Monument itself for perhaps 60 metres and you'll come to the Soi used by the mini-buses (there is a 7/11 on this corner). Walk around the corner (to the right) and there are a number of ticket booth immediately past 7/11 - the last in the line of three or four is the one to Klaeng (which the Thais refer to an SAM YARN) and thence onto Mae Pim. Just ask for SAM YARN / MAE PIM - 200 baht

3. Minibuses to Mae Pim depart on the hour - from 6am to 8pm.

Airport train to Phya Thai and then BTS to Victory Monument for minivan to Ban Phe, or to Ekamai for bus to Ban Phe or Rayong.

Better news. Airport train to Phya Thai, then BTS to Victory Monument for mini van direct to Klaeng. The mini van also goes onto Laem Mae Phim if you live out this way.

Think I'll take a break from this forum for a while. Not my kind of place anymore.

Anyone needs any help with anything related to finance, investing, banking , business etc,

drop me a PM or email [email protected]

Cheers to all the great friends I've made and met on here

Best wishes to all

Cheers

Fletch

Very sorry we won't see you for a while - I for one will miss your valuable thoughts, wisdom and advice; along with the discussion and contrary views they invariably prompt. Your decision is compelely understandable given how a very rational, relevant and useful forum has been destroyed by self-promoting nonsense. Great shame for the real people.

Thanks again Fletch

Thanks for the inputs - which I'll take back to the drawing board. Will let you know how this all works out.

BRs

G'day

Be easier if I could pay someone around Klaeng to design and install an automatic watering system for our house garden, but haven't found anyone who is remotely interested - hence this pretty clueless bloke is hoping for some help from you guys.

General thinking

* use a stand-alone electric pump, located next to - and drawing from - an above-ground 2,200 litre storage tank (max water level height above pump of 1.5 m)

* controller with timer and switch/valves for 2 sections. Each section needs approx 50 litres per minute for bubblers/sprayers/sprinklers etc

* use plastic LDPE PN4 20mm (Max 2.1 Bar; Min 1.6). A length of approx 35 metres of LDPE pipe for each section.

Appreciate all advice - but especially in relation to:

1. Is the general approach reasonable? Is LDPE OK

2. What type and size of pump?

* been looking Mitsubishi and Hitachi models. Looks like Hitachi may be better as the Mitsu's with the desired discharge capacity have higher On/Off Pressures (2.2: 2.8). Assume this is no go for the LDPE as too high

* Hitachi WM-P200GX2 might be OK - it's a Constant Pressure type, with a maximum stated capacity of 49 litres/min - On/Off 1.6; 2.2 Bar). Is a Constant Pressure pump OK for this application, or should an automatic pump with a pressure tank be used? Is the 49 litres likely to be accurate ie. is there some tolerance of +/-? Will there be any appreciable problem if it delivers 49 litres (or say 48 litres), and I figure system need is 50 litres? Guess may be more a problem if the actual output is gretaer than the 50 litres.....

3. Recommendations of where to buy the pump and sundries (preferably Rayong/Klaeng but Pattaya also OK)

Apols in advance as I'm pretty clueless!

Unconfirmed (by me) advice from a work colleague is that PR Applications have been opened today, with a 30 January deadline for submission.

Can the experts urgently check and hopefully confirm.

Firstly, thanks to the posters (esp Fletch, Paddy and ExpatJ - have greatly enjoyed the opinions, advice and banter).

As noted earlier, I have an account with Interactive Brokers in the US of A and can use that platform to invest in a

number of markets - including Singapore. They have kindly confirmed that NO WithHolding Tax would be deducted by them

from any interest/dividend amount that was earned on Singapore investments and directed into my IB account.

Therefore my question - is there any benefit or otherwise to investing in the Spore market via a locally-based

(say Thai/Spore) broker rather than a US one like IB?

Tks agin!

Given that you're American and the good old US of A taxes you on worldwide income probably not based on what you've posted As mentioned I'm not an expert on US tax or US investments for Americans, so an American might be better placed to comment

For a Thai like my wife it would make a difference whether she held the account in Singapore or Thailand. Similarly it could make a difference for a Brit.

Cheers

Fletch

Being called a Yank is almost worse than being mistaken for a Pom...... (joking - I'm Australian, Thai resident with an IB US-based account). Assuming there is no Thai tax issue (any income generated outside of Thailand is not brought into Thailand in the year of generation), for me is there any difference in using the IB account to invest in Singapore listed coys etc (IB tell me there is no US WHT payable on interest/dividend income) rather than using broker/account in some other country (say Singapore where I also understand there will be no tax issue).

Firstly, thanks to the posters (esp Fletch, Paddy and ExpatJ - have greatly enjoyed the opinions, advice and banter).

As noted earlier, I have an account with Interactive Brokers in the US of A and can use that platform to invest in a

number of markets - including Singapore. They have kindly confirmed that NO WithHolding Tax would be deducted by them

from any interest/dividend amount that was earned on Singapore investments and directed into my IB account.

Therefore my question - is there any benefit or otherwise to investing in the Spore market via a locally-based

(say Thai/Spore) broker rather than a US one like IB?

Tks agin!

I don't have any Thailand based trading accounts and all of my US sourced coupons and dividends are unfortunately subject to an automatic 30% withholding tax.

But I had thought that Thailand had a tax treaty with the U.S so that dividends originating from the U.S paid to accounts whose permanent address is Thailand would then be subject to only a 15% withholding tax? This is the same as UK based accounts, for example.

Can someone confirm what the actual withholding tax is for Thai based accounts, for US dividends?

The US/Thailand treaty only covers income taxes and (Thai) petroleum income taxes. See article 2 of http://www.irs.gov/pub/irs-trty/thailand.pdf

So it's going to be the automatic 30% withholding tax here too.

Not sure that's correct - given the answer I got to question I posed to Interactive Brokers (both presented below):

Q. Please advise whether or not US Withholding Tax is payable on dividends paid by international ETFs like the following:

* FAX - Aberdeen Asia-Pacific Income Fund

* VGK - Vanguard European ETF

* VPL - Vanguard Pacific ETF

* VWO - Vanguard Emerging MArkets ETF

Also, understand the WHT rate is 30% for a non-US person/resident - pls confirm

IB Answer: Virtually all countries apply withholding taxes when local companies seek to distribute dividends to externally based shareholders. The rate at which IB is obligated to withhold for a given payment depends largely upon whether there is a tax treaty in place between the country where the dividend paying country is based and the country of residence of the dividend recipient. .

Please be advised that as a Thailand resident, for above US ETFs, you will be subject to a 15% withholding tax, and the four ETFs in question are subject to this tax rate

30% is the standard default rate on US stocks where no W8BEN is in place. There are some exceptions.

Hence if a Thai resident hasn't completed a W8BEN then 30% will be deducted. If a Thai resident completes a W8BEN, then 15% can be deducted instead.

I assume that IB asked you to sign a W8BEN form to trade US stocks, which is why they are telling you, you're subject to 15%. i.e their reply should more accurately have said: "as a Thai resident with a valid W8BEN form in place... you will be subject to 15% WHT, and the 4 ETFs are subject to tax at this rate.

Cheers

Fletch

Correct Fletch (W8BEN provided to IB)

At this moment nobody has lost anything with the Argentum Fund.

As an interested party, what is the position with Argentum???

The position with Argentum is that the company is in provisional liquidation. There are a couple of people looking into ways of recapitalising the company but unless they come up with a plan very quickly that the liquidator will sign off on the company will be wound up.

There is no word yet on the whereabouts or what action is being taken to locate the 3 "directors" that did a runner with £13,000,000 of investors money.

Not so - Grant Thornton Cayman/HK/Australia are the Joint Provisional Liquidators of the following companies:

- Centaur Litigation Limited;

- Centaur Litigation SPC; and

- Centaur Litigation Unit Series 1 Limited.

Haven't heard anything in relation to the status Argentum, except that Buttonwood has to resolve the Centaur issues before addressing Argentum. Delighted if anyone has anything of substance re. Argentum

I don't have any Thailand based trading accounts and all of my US sourced coupons and dividends are unfortunately subject to an automatic 30% withholding tax.

But I had thought that Thailand had a tax treaty with the U.S so that dividends originating from the U.S paid to accounts whose permanent address is Thailand would then be subject to only a 15% withholding tax? This is the same as UK based accounts, for example.

Can someone confirm what the actual withholding tax is for Thai based accounts, for US dividends?

The US/Thailand treaty only covers income taxes and (Thai) petroleum income taxes. See article 2 of http://www.irs.gov/pub/irs-trty/thailand.pdf

So it's going to be the automatic 30% withholding tax here too.

Not sure that's correct - given the answer I got to question I posed to Interactive Brokers (both presented below):

Q. Please advise whether or not US Withholding Tax is payable on dividends paid by international ETFs like the following:

* FAX - Aberdeen Asia-Pacific Income Fund

* VGK - Vanguard European ETF

* VPL - Vanguard Pacific ETF

* VWO - Vanguard Emerging MArkets ETF

Also, understand the WHT rate is 30% for a non-US person/resident - pls confirm

IB Answer: Virtually all countries apply withholding taxes when local companies seek to distribute dividends to externally based shareholders. The rate at which IB is obligated to withhold for a given payment depends largely upon whether there is a tax treaty in place between the country where the dividend paying country is based and the country of residence of the dividend recipient. .

Please be advised that as a Thailand resident, for above US ETFs, you will be subject to a 15% withholding tax, and the four ETFs in question are subject to this tax rate

At this moment nobody has lost anything with the Argentum Fund.

As an interested party, what is the position with Argentum???