Finance may scrap 15% tax exemption on bank savings of rich people

 

The Finance Ministry may scrap tax exemption on interest income of up to 20,000 baht a year after finding small banks advised savers to evade taxes.

 

Finance Minister Apisak Tantivorawong said some small banks have advised their customers to evade the 15% withholding tax when their earned interest income are reaching 20,000 baht.

 

They told their customers to close their bank accounts and then open new savings account instead to dodge the 15% withholding tax, he said.

 

Full story: http://englishnews.thaipbs.or.th/small-banks-taxes-evasion/

 

 

-- © Copyright Thai PBS 2017-09-23

 

Next the VAT goes up from 7%  to  8%.
Submarines cost money.

Let's scrap taxes because banks and customers are trying to evade them. 

 

 

Another HUB....The hub of not paying tax.

Let's catch the small fish (tax) so the whales (corruption) can swim

signs of fiscal desperation on the government part that is strapped

for cash to finance the ever poor farmers and frivolous acquisitions

such submarines and other stuff Thailand doesn't need...

This article makes one wonder is my bank who is taking 15% tax monthly on the interest pocketing it or are they paying it to the government?

The average retiree would need 40 bank accounts.  

20 minutes ago, connda said:

The average retiree would need 40 bank accounts.  

Read what the article says.

40 minutes ago, connda said:

The average retiree would need 40 bank accounts.  

And how did you calculate that???

16 hours ago, inThailand said:

This article makes one wonder is my bank who is taking 15% tax monthly on the interest pocketing it or are they paying it to the government?

You  have accountinterest output  of  more  than  20,000 Bht in  Thailand?

15% is  not  much  compared with  Western snatch and  grab.

They want to scrap it because you have to pay for the people the Govenment let in that do not work.