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Oorinara
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On 1/21/2023 at 4:57 PM, Oorinara said:
17% Personal Income Tax (PIT) for High Skilled Pro (HSP)
Decree 743/2022 says 17% PIT on “assessable” income
https://ltr.boi.go.th/documents/Royal-Decree-743.pdf
In turn, generally progressive tax rates applicable to “taxable” income.
”Taxable” income = “Assessable” income - deductions - allowances (such as eligible insurance premium, Retirement Mutual Fund and Provident Fund)
https://www.rd.go.th/english/6045.html
Wondering if anyone knows 17% PIT for HSP on “assessable” or “taxable” income. Many thanks!
I find 17% PIT for HSP is on “assessable (read: gross)” income, with neither deduction nor allowances such as Provident Fund and Retirement Mutual Fund.
So it’s not simply comparable with progressive tax rate which is based on “taxable (read: net)” income.
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On 2/1/2023 at 7:28 PM, Pib said:Several references on BOT LTR visa website...below are two.
https://ltr.boi.go.th/index.html#pri
I reentered thru BKK airport fast track lane (by using another eligibility) on 3 Feb 2023 and found the fast track signboard now lists LTR as one of eligible users.
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17% Personal Income Tax (PIT) for High Skilled Pro (HSP)
Decree 743/2022 says 17% PIT on “assessable” income
https://ltr.boi.go.th/documents/Royal-Decree-743.pdf
In turn, generally progressive tax rates applicable to “taxable” income.
”Taxable” income = “Assessable” income - deductions - allowances (such as eligible insurance premium, Retirement Mutual Fund and Provident Fund)
https://www.rd.go.th/english/6045.html
Wondering if anyone knows 17% PIT for HSP on “assessable” or “taxable” income. Many thanks!
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Next time, bring the form with you, so you can read what it actually says or post a scan here.
I sincerely doubt they were setting you up with a brokerage account and placing your money in stocks, more likely the questionnaire contained some standard/mandated boilerplate.
Commercial banks in Thailand are not allowed to do brokerage of equity stocks. The only securities, which banks can intermediate, are fixed income securities such as government savings bonds.
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LH Bank 1.85% for 12mo fixed
https://www.lhbank.co.th/Promotion/Detail/Deposit_Promotions-%E0%B9%81%E0%B8%84%E0%B8%A1%E0%B9%80%E0%B8%9B%E0%B8%8D%E0%B9%80%E0%B8%87%E0%B8%B4%E0%B8%99%E0%B8%9D%E0%B8%B2%E0%B8%81%E0%B8%9B%E0%B8%A3%E0%B8%B0%E0%B8%88%E0%B8%B3%E0%B8%9E%E0%B8%B4%E0%B9%80%E0%B8%A8%E0%B8%A9_12_%E0%B9%80%E0%B8%94%E0%B8%B7%E0%B8%AD%E0%B8%99_/2/28
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Lending interest rates of Microfinance institutions are soon capped up to 18%. This newly introduced cap shall have adverse effects on their deposit rates, and financial stability too.
http://m.phnompenhpost.com/national/mfi-loan-interest-capped
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LH Bank currently offers fixed deposit rate of 1.8% and 1.7% p.a. respectively for 18 and 12 months.
http://www.lhbank.co.th/promotion/description/1982
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Citigold in HK requires HKD 1.5 million, approximately 6.8 million. Unlike HSBC, premier status in one jurisdiction doesn't qualify for the same in another jurisdiction .
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Thanachart e-Savings is offering interest rate of 1.75% p.a.
http://www.thanachartbank.co.th/tbankcmsfrontend/personalendetail.aspx?ptypeid=9&proid=269&pname=personal
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Citigold minimum relationship balance shall be increased from THB 3 million to THB 5 million effective Apr 2017.
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Kredit Microfinance offers interest rate of up to 8.5% p.a. in USD and it seems to be the highest among microfinances.
https://www.kredit.com.kh/en/
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Kredit Microfinance also accepts account openings by nonresidents with passport and visa, presumably longer than 6 months, nowadays.
https://www.kredit.com.kh/
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Thanachart's e saving also earns 1.5%, but I am unsure if the withdrawal is limited .
https://www.thanachartbank.co.th/tbankcmsfrontend/personalendetail.aspx?ptypeid=9&proid=264&pname=personal
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Mai loo muang khan - I don't know either.
Often from those who are supposed to know or at least supposed to pretend to know. Such as airline counter, hotel reception, restaurant table, regarding their own service or product availability.
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I know Singapore is USD 200k minimum balance
Why dont you mail Citi in BKK and ask ?
Yes, thanks. I asked and was told that it's THB 3 million nowadays.
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Does anyone know the minimum relationship balance to become Citigold in Thailand nowadays?
It used to be THB 2 million in around 2013/14 but may have been increased to 3 million thereafter.
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Microfinance LOLC avails nonresident account opening essentially with passport only.
http://www.lolc.com.kh/
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LOLC's THB accounts are available only in branches near Thai border. Not in Phnom Penh headquarters even.
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LOLC, offering THB interest rate of up to 10.5% p.a., is majority shareholded by Japanese Orix's Sri Lankan subsidiary
http://www.lolc.com.kh/eng/share_holders.aspx
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As for THB term deposit in Cambodia, LOLC seems to offer the highest interest rate of 10% and 10.5% for, respectively, 1 and 2 years. LOLC microfinance has upgraded its license to take deposit since 2015.
http://www.lolc.com.kh/eng/Deposit.aspx
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Now that StanChart's Thai retail business including SCBT Priority is going to be taken over by TISCO financial group, we need keep watching what will be offer from TISCO onto incumbent SCBT Priority member.
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StanChart's eSaver has provided decent interest rate among as non-fixed deposit but is going to change after buyout completion by TISCO bank of StanChart's retail business here in LOS.
http://www.set.or.th/set/pdfnews.do?newsId=14823638081640&sequence=0
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Sathapana Bank allows passport bearer to open accounts. Sathapana used to be a microfinamce but is recently licensed as commercial bank after takeover by Maruhan Japan Group.
http://www.sathapana.com.kh/
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Joint Development Bank (JDB) has also lowered fixed term deposit interest rate a few percents p.a.
http://www.jdbbank.com.la/
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LTR Visa is Now available for Long Term Residency
in Thai Visas, Residency, and Work Permits
Posted
Got my LTR-H in mid Feb at OSOS, Bangkok.
Validity
- visa: 10yr
- work permit: 5 yr
- stay permit: 4.5 yr, sync with my passport expiry, with note that it ought to be 5 yr
Timeline
- early Dec: submitted application
- during Dec: more docs requested (on work and company info at most)
- mid Jan: pre-qualification received
- early Feb: canceled my previous visa
- mid Feb: LTR-H visa stamped