buckeye Posted June 24, 2007 Share Posted June 24, 2007 Quick question does anyone know what the tax's would be on using B40000 per month income option for a marriage visa option. for income from Thailand? Link to comment Share on other sites More sharing options...
Sunbelt Asia Posted June 24, 2007 Share Posted June 24, 2007 Quick question does anyone know what the tax's would be on using B40000 per month income option for a marriage visa option. for income from Thailand? Around 30,000 Baht for the year. www.sunbeltasiagroup.com Link to comment Share on other sites More sharing options...
thai4u Posted June 24, 2007 Share Posted June 24, 2007 30,000 a year ??!!! Isnt it for private small business with thai wife around 17,000 /year?? thats what u adviced me before 8 months.. sunbelt. Link to comment Share on other sites More sharing options...
astral Posted June 24, 2007 Share Posted June 24, 2007 Here is the nitty gritty Work it out for your self on an income of 480,000 baht per year. Link to comment Share on other sites More sharing options...
Naam Posted June 24, 2007 Share Posted June 24, 2007 30,000 a year ??!!! 30k? HOLY COW! how many Changs? Link to comment Share on other sites More sharing options...
thai4u Posted June 24, 2007 Share Posted June 24, 2007 its 1000 big bottles of change on retail price. and 1500 som tam dishes!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
ozzydom Posted June 24, 2007 Share Posted June 24, 2007 It depends I believe on how the income is earned, we paid tax on 45k per month from agriciltural earnings, tax paid was 4274baht on 540k gross income. Figures on tax form and receipt as follows......... gross income...540,000 less 80% C.O.P..432,000 =108,000 less allowance =30,000 taxable amount=78,000 tax payable =4274 baht Link to comment Share on other sites More sharing options...
thai4u Posted June 24, 2007 Share Posted June 24, 2007 I found the sunbelt answer from 10/06. SUNBELT ANSWER: The extension of stay based on marriage for new applicants after Oct 1st 2006) requires 40,000 Baht per month. If you are getting 15,000 Baht per month, your wife needs to make 25,000 Baht per month. This means the shop has to do 1,000,000 Baht per year. You then can deduct 70% under Thai tax law as deductions, without any receipts. (Remember this is for a self employed shop…sole proprietor) Deductions of 30,000 Baht as a single taxpayer (you will be claiming yourself on a separate tax filing) Net assessable Income is 270,000 Baht Total personal income tax is 17,000 Baht (1-100,000 is 0%, 100,001- 270,000 is 10%) Your personal tax would be Salary per month of 15,000 Baht times 12 = 180,000 Baht Less for expense for taxpayer 40% of income but no more than 60K) 60,000 Less for Single taxpayer 30,000 Total is 90,000 Baht Tax owed is zero In this case, in order than for you to get a work permit and an extension of stay based on marriage. The tax would be 17,000 Baht per year and you would both would show proof of a combined income of 40K per month. www.sunbeltasiagroup.com --------- No gross sales tax of 15,000 Baht exist as you are pointing out. It is 17K to the wife and that is it in this case. Remember this is a sole proprietorship, so the wife only gets taxed on net income once unlike a Limited Company. www.sunbeltasiagroup.com --------- gross sales tax no longer exist!. By the way, 7% Vat in fact starts at sales of 1,800,000 in the year. www.sunbeltasiagroup.com -------- Link to comment Share on other sites More sharing options...
Naam Posted June 24, 2007 Share Posted June 24, 2007 its 1000 big bottles of change on retail price.and 1500 som tam dishes!!!!!!!!!!!! then why pay tax and not opt for Chang and som tam? Link to comment Share on other sites More sharing options...
thai4u Posted June 24, 2007 Share Posted June 24, 2007 because I dont like som tam and drink chang just nit noy.. but seriously;HOW MUCH THE TAX? Is it still valid this caculation from 10/06 or its almost double itself to 30k ?? because it its like this no way I pay 30K ,I go singapore.. Link to comment Share on other sites More sharing options...
qualtrough Posted June 24, 2007 Share Posted June 24, 2007 because I dont like som tam and drink chang just nit noy.. but seriously;HOW MUCH THE TAX? Is it still valid this caculation from 10/06 or its almost double itself to 30k ?? because it its like this no way I pay 30K ,I go singapore.. I am not much of a mathematician, but my calculations show that paying 30,000 B on an income of 480,000 B works out to a tax rate of 6.25%. If that is right, it sure doesn't strike me as a very onerous rate. Link to comment Share on other sites More sharing options...
ronw Posted June 24, 2007 Share Posted June 24, 2007 because I dont like som tam and drink chang just nit noy.. but seriously;HOW MUCH THE TAX? Is it still valid this caculation from 10/06 or its almost double itself to 30k ?? because it its like this no way I pay 30K ,I go singapore.. So let us look at this objectively...... You think you should pay 17,000 Baht/ year.......and you have been told that you may have to pay 30,000Baht/year? 30,000 minus 17,000....equals [if my math is correct] 13,000 Baht! So paying an estimated 13,000 Baht.....which is just over 1,000 Baht /month...... is a sufficient reason to leave the country? INTERESTING! Link to comment Share on other sites More sharing options...
thai4u Posted June 24, 2007 Share Posted June 24, 2007 if u dont care your money its ok .I care. I live here and 13,000 its MONEY. by the way if u have extras that u dont care to give me ;u can transfer by atm. Link to comment Share on other sites More sharing options...
qualtrough Posted June 24, 2007 Share Posted June 24, 2007 if u dont care your money its ok .I care. I live here and 13,000 its MONEY.by the way if u have extras that u dont care to give me ;u can transfer by atm. Yes, moving to another country because you might pay $371 dollars more in taxes than you bargained for is certainly a rational and sensible decision. I certainly understand your wish to flee a country that is dispossessing you of 6% of your income per year. BTW, have you explored a move to Bangladesh? I hear there are a lot of bargains there, and lots of places to swim too. Link to comment Share on other sites More sharing options...
thai4u Posted June 24, 2007 Share Posted June 24, 2007 I think u missed the point. I NOT MOVE COUNTRY!! but I will make VISA RUN in another country. SO I GET NON 'O' FOR CHEAPER (much cheaper) THEN 30K baht. and also travel little bit nothing wrong with it..right? Where sunbelt to give the proper answer ? Link to comment Share on other sites More sharing options...
otherstuff1957 Posted June 24, 2007 Share Posted June 24, 2007 (edited) OK, I pay 2,199b per month on 40K (Base salary, not including OT). I work for a Thai company, I'm married to a Thai and file as a couple (she has no reported income). I have been told that I get a slight tax break because I'm married, so 30K/year (2,500/month) sounds about right for a single person. Edited June 24, 2007 by otherstuff1957 Link to comment Share on other sites More sharing options...
Tywais Posted June 24, 2007 Share Posted June 24, 2007 Breakdown on 40,000/month of personal income. 480,000 Total -60,000 Standard deduction (non-business) -30,000 Individual deduction -30,000 Dependent deduction (wife) --------- 360,000 For tax purposes -100,000 First 100k no tax ---------- 260,000 Remaining at 10% up to 500k 26,000 Baht tax total / year = 2,166/month I also get a vehicle tax deduction of a few thousand baht from the total. Link to comment Share on other sites More sharing options...
buckeye Posted June 24, 2007 Author Share Posted June 24, 2007 (edited) OK, I pay 2,199b per month on 40K (Base salary, not including OT). I work for a Thai company, I'm married to a Thai and file as a couple (she has no reported income). I have been told that I get a slight tax break because I'm married, so 30K/year (2,500/month) sounds about right for a single person. But if it is your wife that is claiming the B40000 as it is her buisness is the tax the same or in your case a if you had no reported income and she worked for a Thai company? Edited June 24, 2007 by buckeye Link to comment Share on other sites More sharing options...
lopburi3 Posted June 24, 2007 Share Posted June 24, 2007 The Sunbelt quote provided was for 25,000 baht per month income (the wife) - not the 40,000 baht per month total requirement (which would included 15k from husband). Link to comment Share on other sites More sharing options...
buckeye Posted June 24, 2007 Author Share Posted June 24, 2007 But in Sunbelts quote If the husband had no income and the wife B40000 would the tax amount change? Link to comment Share on other sites More sharing options...
ozzydom Posted June 24, 2007 Share Posted June 24, 2007 It depends I believe on how the income is earned, we paid tax on 45k per month from agriciltural earnings, tax paid was 4274baht on 540k gross income.Figures on tax form and receipt as follows......... gross income...540,000 less 80% C.O.P..432,000 =108,000 less allowance =30,000 taxable amount=78,000 tax payable =4274 baht Sorry folks, my post above is misleading. The actual tax paid was 2137 baht,confusion came about because T/W said this amount had to be paid twice a year,what she was told was that she has to put in a final tax form (no. 90) in September and as the previous form was for tax paid in advance and any changes to income are calculated into the September one. The confusing part (to me) is that at 78k taxable she is under the tax threshold, the tax paid is shown on form 90 as the gross income (540,000) x 0.005%= 2700 bt less 563 bt credit from previous assessment. Now the big question is which amount does Immigration work on ,??? the gross income or the taxable income,. I think Lopburi mentioned it was the gross income on another thread,and I hope that he right as he usually is,because to get to a 45,000bt taxable income we have to have fish sales of 2.5 mill baht. Link to comment Share on other sites More sharing options...
Badbanker Posted June 24, 2007 Share Posted June 24, 2007 (edited) Someone said I think, "why should I pay tax"? Why not drink the Chang and eat the Somtum? PR Badbanker PS I am going to start paying tax on income this year for the first time in 15 years so I am ready for my Permanent Residence application in January of 2010! Edited June 24, 2007 by Badbanker Link to comment Share on other sites More sharing options...
samran Posted June 24, 2007 Share Posted June 24, 2007 You can calculate it for yourself off this Link to comment Share on other sites More sharing options...
Sunbelt Asia Posted June 25, 2007 Share Posted June 25, 2007 30,000 a year ??!!!Isnt it for private small business with thai wife around 17,000 /year?? thats what u adviced me before 8 months.. sunbelt. The OP question was on 40K salary per month not the tax his wife has to pay for a small business. www.sunbeltasiagroup.com Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
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