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?

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

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.

Here is the nitty gritty

Work it out for your self on an income of 480,000 baht per year.

30,000 a year ??!!!

30k? HOLY COW! how many Changs?

its 1000 big bottles of change on retail price.

and 1500 som tam dishes!!!!!!!!!!!!

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

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

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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

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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

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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?

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..

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.

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!

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.

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.

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 ?

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, 200719 yr by otherstuff1957

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

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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.

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, 200719 yr by buckeye

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).

But in Sunbelts quote If the husband had no income and the wife B40000 would the tax amount change?

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.

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, 200719 yr by Badbanker

You can calculate it for yourself off this

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