Taking Money Out Of Thailand

[catwho]

What is the norm ,are you allowed to take out more than you bring in ,be it for a house or business .and are you taxed on it,as well as when you sell your house or buss.

thanks CAT

[Wekhin]

Yes, you can take it out.

For business, the norm is you are taxed out of your profit.

Selling a business, you are taxed from what you get above your invested capital.

For individual:

Selling a house with land deed, you are taxed at the point of sale (Land Department).

Selling some of the shares, you are taxed from profit (except buying and selling in the stock market).

Selling personal belongings, no taxes.

[catwho]

Yes, you can take it out.

For business, the norm is you are taxed out of your profit.

Selling a business, you are taxed from what you get above your invested capital.

For individual:

Selling a house with land deed, you are taxed at the point of sale (Land Department).

Selling some of the shares, you are taxed from profit (except buying and selling in the stock market).

Selling personal belongings, no taxes.

<{POST_SNAPBACK}>

Thankyou for the quick and short response.

Cat

Edited November 11, 2005 by catwho

[Firefan]

Sunbelt has also confirmed to me that taking profits out are possible. Tehy DO recommend one obtains the foreign exchange transaction form from the bank if possible (bank only issues this if above $20k wired in.

When I wire smaller amounts I ask for a letter from them at least showing the wire amount in USD/THB/date/my name+account number and Bangkok Bank head office Silom prints it out on a standard form - free of charge.

Good luck with the profits!

Cheers!