manchega Posted May 22, 2019 Share Posted May 22, 2019 Hi, I saw the post about chappie who started investing 25 k a month or so. I was interested to understand the tax implications? There are things that are tax deductable such as LTF and RTF, Do we get taxed on the interest of these? If one were to open a bank account such as citi and used that account to invest in stocks with a singapore based broker - i.e. offshore would one then become eligible to pay tax on all interest made or could one reinvest the interest without suffering paying the junhtas next meal? Link to comment Share on other sites More sharing options...
ThomasThBKK Posted May 22, 2019 Share Posted May 22, 2019 Hi, I saw the post about chappie who started investing 25 k a month or so. I was interested to understand the tax implications? There are things that are tax deductable such as LTF and RTF, Do we get taxed on the interest of these? If one were to open a bank account such as citi and used that account to invest in stocks with a singapore based broker - i.e. offshore would one then become eligible to pay tax on all interest made or could one reinvest the interest without suffering paying the junhtas next meal?If you use an offshore broker and don't move the profits into thailand in the same calender year, u should be fine. Sent from my LYA-L29 using Tapatalk Link to comment Share on other sites More sharing options...
manchega Posted May 22, 2019 Author Share Posted May 22, 2019 Thanks Thomas, so if cash is left in broker or better reinvested for at least a year then no tax will be due when withdrawn? by the should be fine does this mean potentially things can be messed up quite easily? the US have really messed things up with bank accounts, Singapore won't let me easily open one neither did HK Link to comment Share on other sites More sharing options...
ThomasThBKK Posted May 22, 2019 Share Posted May 22, 2019 (edited) 13 minutes ago, manchega said: Thanks Thomas, so if cash is left in broker or better reinvested for at least a year then no tax will be due when withdrawn? by the should be fine does this mean potentially things can be messed up quite easily? the US have really messed things up with bank accounts, Singapore won't let me easily open one neither did HK Yes thats correct. Longterm that's fine too, as that's what the law says. Of course they could change that one day, who knows. https://www.tilleke.com/sites/default/files/Thailand-Tax-Guide.pdf read under 7. Territorial rules , it's quite easy to understand. And yes due to FATCA rules etc Singapore has a hard time opening accounts for you, the paperwork they would have todo is quite a bit. Same applies to Europeans that live in europe now too tho - because of equal tax sharing laws. However if you are a thai resident and can proof that they should be willing todo that, that was the case for me at least. Edited May 22, 2019 by ThomasThBKK Link to comment Share on other sites More sharing options...
manchega Posted May 22, 2019 Author Share Posted May 22, 2019 and thanks again Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now