Stock market trades in Thailand to be taxed

[HaoleBoy]

2 hours ago, Dustdevil said:

They are, at least Americans are, when they redeem a profit over a certain amount. Capital gains tax, it's called. It's up to 15%, but that's on a fairly large amount for those of us who aren't millionaires. Smaller profits are taxed modestly or not at all. I owned shares in a US-based Thailand fund once, but I wouldn't invest in anything within Thailand.

And what is your point?  You are talking about taxing profits on your investment - long-term vs short-term.  

 

Long-term capital gains (held longer than 1 yr) profits being taxed at 15% (assuming you make > $45k per year)  and goes up based on your taxable income.

There's also short-term capital gains (profits) are taxed at your taxable income level.

 

I was talking about taxing transactions for short-term holdings.  Not profits.

[pegman]

4 hours ago, stoner said:

could you imagine (hypothetically) the things that could be done if you taxed wall st like that. 

 

na stop thinking stupid stoner. 

Canada just announced it will start taxing Bay Street  corporate stock buybacks. No one jumping off skyscrapers as of yet. 

[hotchilli]

1 hour ago, ThaiNotes said:

Thank you for your really helpful and informative reply.  However, in future, if you've got nothing to add, please stop wasting electrons - their supply, after all, is finite, unlike the supply of human stupidity.

Glad to be of service.. expect more.

[hotchilli]

4 hours ago, Longwood50 said:

Does anyone know when they will start imposing a tax on the number of breaths of air someone takes during a day? 

If it's a tax on fresh air we're safe.

[Gknrd]

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[Gknrd]

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[Gknrd]

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[Gknrd]

4 hours ago, mahjongguy said:

So much outrage here about collecting a 0.1% transaction fee. If I have to pay $100 fee the next time I buy or sell a block worth $100,000 I'll try to remember to be sad about it.

 

Here is what should be making people mad: for selling SET-listed equities there is no special tax rate for long term capital gains. In fact, there is no income tax at all on the sale of SET-listed stocks (only on dividends received during possession). What better evidence is needed to show that Thai laws are written by and for the rich?

I have a investment account in the states. I pay 0 / trade.  There are banks that charge as much as 50/trade.  And if you have someone manage your money for you it can get pretty pricy.  I personally am slowly getting out of the broad market and buying mutual funds with very small management fees.  Getting too old now and not near as sharp or enthused as I used to be.

I have a mutual fund, now closed to the general public that has paid me 5+ %/yr for the last 20 years.  Looking back I would of been better off with a S&P 500.  

 

[Aussieroaming]

Sounds great as long as they clamp down on the stock manipulation and insider trading, both which are rampant on the SET. 

[Dustdevil]

14 hours ago, HaoleBoy said:

And what is your point?  You are talking about taxing profits on your investment - long-term vs short-term.  

 

Long-term capital gains (held longer than 1 yr) profits being taxed at 15% (assuming you make > $45k per year)  and goes up based on your taxable income.

There's also short-term capital gains (profits) are taxed at your taxable income level.

 

I was talking about taxing transactions for short-term holdings.  Not profits.

My point was simply that the tax on profits is enough already. We don't don't want even more taxes on trades, now, do we.

[mahjongguy]

3 hours ago, Dustdevil said:

My point was simply that the tax on profits is enough already. We don't don't want even more taxes on trades, now, do we.

Your point is valid but keep in mind: Thailand charges no income tax at all on the profit from selling SET-listed equities, no matter how long they were held. If you are American, you will pay the capital gains tax to the IRS instead of Thailand's Dept. of Revenue.

 

In the U.S. there are transaction fees but they are so low that the big brokers offer free trades and absorb the fees. It's the U.S. income tax, especially on short-term gains, that hurts, even though long term gets special treatment at 15%. 

 

I'd say don't sweat it. Announcements like this are intended to provoke pushback. By the time the fees are enacted, the rates will be less than half of those currently proposed.