What is stamp duty?

[vtaylor]

I am looking to accept a position with a large company in Bangkok.  My employment agreement (1 year contract) says I "must pay for the stamp duty at the rate of .10 per cent of the total price of this order to the Revenue Department within (15) days after acceptence of the contract."  

This will equate to about $5,000 USD.  Any idea what this is?  Are there any other surprise taxes that I will have to pay?  I want to make sure I understand my bottom line compensation before I accept the position.

Thanks for your help.

[fester]

Sounds fishy to me,never heard about such stamp duty.

Ask them for more details. It might be someone in the HR department wanting to make some bucks here  ???

[lopburi3]

Although this may be all legal as stamp duty is used as another term for tax here and very common I would not accept such a contract as if above board they are forcing you to pay up front to prevent you leaving when you find out how bad the job is.  Or it could all be a scam to collect the 5k?  The fact nobody has reported that this is a common practice would make me very suspicious.

[Roger13]

vtaylor

Just a thought ...

has a typing error crept in here?

If .10 per cent = US$5,000

Then the One year contract is for US$5,000,000

That is US$ 416,666 per month ?

[LPCustom69]

I think the contract is for $50,000 USD. Sounds good in LOS!

:cool:

[Roger13]

That would be 10%

Surely even Thailand wouldn't have Stamp Duty of 10% !!!

vtaylor wrote .10% (point one percent)

[LPCustom69]

I was taught that point,one,zero is 10 percent (.10), point, zero, one is 1 percent (.01), not sure what the percentage is supposed to be.

:cool:

[Roger13]

Veronica,

What about some feed back?

Is the Stamp duty US$5,000

OR - maybe Bht 5,000

Roger

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LPCustom69 - Percentages ...

I was taught like this:

Lets take $30,000

10.00% (Ten Percent) = $3,000

1.00% (one percent) = $300

0.10% (point one per cent) = $30

0.01%(point nought one per cent) = $3

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