AnnyLing

It doesn't matter if the money was wasted or not. The question is why the working class should pay for the stupid decisions made by bondholders and banks. They are the ones loaning money and assume a risk. Look at Iceland were they said no to helping out the investors/banks. I turned out to be a good decision as they are now back growing their economy.

The banks cheated bondholders and investors. And you find that okay Alex ?

you are actually giving false information. Just because it isn't mentioned on the english version of the Thai Revenue Department website, doesn't mean it doesn't exist.   I've been told by the RD that my foriegn income is of no concern to them so long as it isn't remitted to Thailand. Straight from the horses mouth.  See top of page 6 of the link below  http://www.kpmg.com/...D_2010_TIES.pdf  KPMG - as you know a globally respected accounting firms such as KPMG do know their stuff.

   You are referring to the existing practice already mentioned by me *It is correct that this is the practice since years...*.     KPMG works and informs its clients according to this practice and the *horses mouth* did nothing but confirm it.     Nevertheless it is important do know and i repeat that official Thai Tax Law does not mention the exclusions. If you are able to proof that the Thai Version mentions the exclusions I will admit that my information is false.

I am Thai-Chinese, my husband is American. My family never accepted him. Not because of some misbehaviour but because his income is less than a million Dollars a year. Thats why we sold our home in BKK and moved to Singapore. We (both) visit my family often on weekends and everybody seems to be happy.

It states a "resident of Thailand".

Do you have "resident" status? I doubt it. Shouldn't be a problem.

what part of more than 180 days is it that you don't understand?

Taxpayers are classified into "resident" and "non-resident". "Resident" means any person residing in Thailand for a period or periods aggregating more than 180 days in any tax (calendar) year. A resident of Thailand is liable to pay tax on income from sources in Thailand as well as on the portion of income from foreign sources that is brought into Thailand. A non-resident is, however, subject to tax only on income from sources in Thailand.

below the government link to Thai Income Tax. Can anybody show me those exclusions mentioned???

http://www.rd.go.th/...ish/6045.0.html

Regarding your comment on Greece, I see a lot of young people on the street. How could they have been benefiting for decades?

AlexL,

most of those young people benefitted indirectly because their parents benefitted. But whether they benefitted or not does not matter. Protests, riots, hurling Molotov cocktails and the like is futile and will not solve their problems. citizens of highly indebted countries will suffer for years to come whether via austerity measures, reduced social spending or higher taxes. Bankers and politicians in prison or hanging from gallows will not return the money which was wasted.

the Thai tax rules on foreign income (often called the remittance basis ) are not particularly unusual.

I apologise for bursting a bubble as there are no Thai tax rules on foreign income as described in TV several times. Official Thai tax laws do not mention with a single word any exclusions be it *earned in another calendar year* or *transferred...*. It is correct that this is the practice since years but the reality is that the tax authorities can abandon that practice any time in single cases or summarily. And the possibility that the actual tax laws could be applied retroactively for several years is quite scary.

I was just in Mumbai & Hyderabad & for about $150.00 it gives you a four day break here all in..WOW

WOW ! a clear picture how Farangs are throwing their money around.

Humility is the virtue of the poor.

Phase 6 has started,those of you that were thinking it would not happen, think twice.

Greek citizens do not riot because of the reasons you mentioned. They riot because they dont want to pay the price for decades of carefree good life, taxevasion, taxcheating, retiring at age 58, and in many cases even earlier. But theres no way out for them. Those who danced in summer instead of taking care of their fields and harvest in fall will suffer or starve in winter.

Still waiting for Naams rebuttal. Should be interesting !

Ha Ha

Nice read from Jim Willie

Chinese Take-Out Of The U.S. Economy, Debt Crisis Triggering Reserves Conversion into Gold and Silver

http://www.marketora...ticle25035.html

Gold $ 21,000 / ounce next week !

Please read the initial post again its mention clearly that they will only have to call thai companies. So the English skills are not important at all if you have some Thai staff in your company who can explain the task for you to that person.

150 Bhat a day is actually a very nice salary for an interhsip in Thailand, many companies only pay 5000/month

150 Baht a day is more than 5000 a month???

Keeping cash under the mattress and hoping for a good return is plain

Last year he gave hubby some real good advice. Now he is raving about him. I hope Naam is not gay. Otherwise*****

Why would that matter? Naam is an extremely sharp man, gay or not. I wish I knew 1/10th of what he knows about investments....

It matters because he seems to be an idol for my H U S B A N D. Whenever we discuss new investments or switching I have to listen to *Naam said, Naam posted, Naam warned, Naam suggested, Naam this, Naam that*

Last year he gave hubby some real good advice. Now he is raving about him. I hope Naam is not gay. Otherwise*****

the latter of course might change one of these days when the relevant thai authorities wake up, enforce prevailing tax laws and tax retired foreigners on the amounts they transfer to Thailand (which i think is only fair).

What are the prevailing tax laws re money transfers from abroad?

If you are a resident of Thailand you are liable to pay Income Tax on any amount brought into the

country no matter when it was earned or transferred except if Income Tax has been already paid in a

country which has signed a Double Tax Agreement with Thailand.

The tax liability does not apply to pensions or social insurance payments.

YIKES! So a big wad wired to buy land, a house, car, boat or whatever could be taxed? Anyone happen to, gulp, know the rates?

Theres no doubt about it that they 'could' be taxed.

Tax rates of the Personal Income Tax

Taxable Income

(baht) arginal Taxable income

(baht) Tax Rate (%)

0 - 150,000 (2008 onwards) 150,000 Exempt

150,001 - 500,000 350,000 10

500,001 - 1,000,000 500,000 20

1,000,001 - 4,000,000 3,000,000 30

4,000,001 and over 37

http://www.rd.go.th/...ish/6045.0.html

I like Naan's advice in an earlier post "any investment which i don't understand within 90 seconds is a 'no-no' for me."

Personally, I find this advice very strange. Knowledge is key to any investment; claiming that you'd have the ability to accrue knowledge - relevant to the situation - simply by pulling it out of thin air with the pores WILL disqualify you from virtually every investment there is.

As I said, knowledge is key to any investment. Anyone sauntering about claiming to have the ability to understand investments in less than 90 seconds is either an amateur or someone who's not at all interested or skilled in making investments other than trying to beat the inflation rate (even that will be tough using Neens advice). Successful investors spend both money and time to gain knowledge required from case to case.

I think it is normal that an experienced and successful investor who has acquired a vast knowledge of certain asset classes rejects ideas whos details are 'out of range'. Having followed Naams postings and learned about his background for more than two years I conclude that he is not in dire need to bother with anything that is new to him.

If only 10 percent was real what the goldlovers dream post and cite in this fred we would see

a gold price of 20,000 Dollars per ounce----- today. Sweet dreams !

A principal concern about sodium nitrite is the formation of carcinogenic nitrosamines in meats containing sodium nitrite when exposed to high temperatures. Such carcinogenic nitrosamines can be formed from the reaction of nitrite with secondary amines under acidic conditions (such as occurs in the human stomach) as well as during the curing process used to preserve meats. Dietary sources of nitrosamines include US cured meats preserved with sodium nitrite as well as the dried salted fish eaten in Japan. In the 1920s, a significant change in US meat curing practices resulted in a 69% decrease in average nitrite content. This event preceded the beginning of a dramatic decline in gastric cancer mortality.[14] Sodium nitrite's usage is carefully regulated in the production of cured products in the United States, as the concentration in finished products is limited to 200 ppm, and is usually lower[citation needed]. About 1970, it was found that ascorbic acid (vitamin C), an antioxidant, inhibits nitrosamine formation.[15] Consequently, the addition of at least 550 ppm of ascorbic acid is required in meats manufactured in the United States. Manufacturers sometimes instead use erythorbic acid, a cheaper but equally effective isomer of ascorbic acid. Additionally, manufacturers may include alpha-tocopherol (vitamin E) to further inhibit nitrosamine production. Alpha-tocopherol, ascorbic acid, and erythorbic acid all inhibit nitrosamine production by their oxidation-reduction properties. Ascorbic acid, for example, forms dehydroascorbic acid when oxidized, which when in the presence of nitrous anhydride, a potent nitrosating agent formed from sodium nitrate, reduces the nitrous anhydride into the nitric oxide gas.[16] Note that Nitrous Anhydride does not exist[17] in vitro.

Sodium nitrite consumption has also been linked to the triggering of migraines in individuals who already suffer from them.[18]

A recent study has found a link between frequent ingestion of cured meats and the COPD form of lung disease. The study's researchers suggest that the high amount of nitrites in the meats was responsible; however, the team did not prove the nitrite theory. Additionally, the study does not prove that nitrites or cured meat caused higher rates of COPD, merely a link. The researchers did adjust for many of COPD's risk factors, but they commented they cannot rule out all possible unmeasurable causes or risks for COPD.

Footballer-inspired mass withdrawal plan falls flat as banks across France report no extra

demand at cashpoints.

is that when you are sober or otherwise ?

WARNING:

THE FOLLOWING PRESENTATION IS

CONTROVERSIAL AND MAY BE OFFENSIVE TO SOME AUDIENCES.

Viewer discretion is advised.

http://www.stansberryresearch.com/pro/1011PSIENDVD/PPSILC08/PR

Can someone make him go away. At least until the next "crisis" which is inevitably getting closer as I type. He fails to grasp simple logic and offers only silly comments and links to mysterious articles. We all get that if you keep claiming collapse something eventually will collapse and you can tell us all you told us. Give it up already.

There should be a rule. If you spew crap 99% of the time, then it at least needs to have some humor or for that matter anything of interest. His posts are void of everything but...

You have to admit that Midas is very good in finding mysterious articles!

i slept in

did i miss the bank run?

My husband wanted to withdraw 10,000,000 Baht. The bank refused and claimed we do not have that

kind of money. Now he is planning to beat up Midas because of his misleading information.

the latter of course might change one of these days when the relevant thai authorities wake up, enforce prevailing tax laws and tax retired foreigners on the amounts they transfer to Thailand (which i think is only fair).

What are the prevailing tax laws re money transfers from abroad?

If you are a resident of Thailand you are liable to pay Income Tax on any amount brought into the

country no matter when it was earned or transferred except if Income Tax has been already paid in a

country which has signed a Double Tax Agreement with Thailand.

The tax liability does not apply to pensions or social insurance payments.

Yeah...2,000 or 3,000 Baht per night sounds very exclusive. Why the hel_l should anybody should pay more in Pattaya. This is not Monte Carlo, and it won't be. So these chains followed each other, but they will realize soon, that they will have a hard time to get their rooms occupied at "luxury" prices.

There's plenty of hotels charging between 5 and 10k per night and getting it. You think the Hilton would be building a hotel without doing any homework?

Go and check the new Zign Hotel in Naklua. On the weekends they can be nearly full to capacity and they have 959 rooms. I stayed there one Friday night in a 15,000 suite. In the morning the breakfast buffet which is held in a huge room was like central station with hardly a table free. They don't have any trouble finding Asian customers who appreciate 5 star luxury. There are lots of upmarket hotels in Naklua.

What you need to understand is that people who like to stay in 5 star hotels often stay within the precincts of the hotel. That's the whole idea of 5 star accommodation. Restaurants, spas, pools, private beaches and organised excursions to golf courses and other upmarket activities. They would be shuttled to the new shopping center and the gem stores.

The people who like to stay in the luxury resorts are not the people who walk along Beach Road or Walking Street. In fact you would not normally even be aware of their presence.

In another thread you mentioned you cant afford a higher monthly rent than 21,000 baht but you pay 15,000 for a suite ?

Naaaaaaaaaam, where are you ?