sin_bkk Posted November 15, 2005 Share Posted November 15, 2005 Hello to the forum :-) can someone here give me an idea how much incometax I have to pay in Thailand. I am currrently in Singapore but it looks like I ha ve to move to thailand next year . Also , maybe there are some folks here on the board who have lived in singapore before and can tell me something about the living cost in Thailand ( Bangkok area) copare to Singapore Many thanks Kim Link to comment Share on other sites More sharing options...
singa-traz Posted November 15, 2005 Share Posted November 15, 2005 Hello to the forum :-)can someone here give me an idea how much incometax I have to pay in Thailand. I am currrently in Singapore but it looks like I ha ve to move to thailand next year . Also , maybe there are some folks here on the board who have lived in singapore before and can tell me something about the living cost in Thailand ( Bangkok area) copare to Singapore Many thanks Kim <{POST_SNAPBACK}> http://www.thaivisa.com/thailand_income_tax.0.html http://www.rd.go.th/publish/6000.0.html As for the different for cost of living, depending on your current lifestyle, you may divide by 2. This is not valid for all expense type, but is a rought estimation. Link to comment Share on other sites More sharing options...
Andrew Mac Posted November 15, 2005 Share Posted November 15, 2005 Hi sin_bkk Just last week I asked a question about tax, in this thread: http://www.thaivisa.com/forum/index.php?showtopic=49630 So in addition to the other post here, there might be a bit of useful information in that thread, too. One important thing is that the tax rates in the ThaiVisa page mentioned above are apparently out of date; see the thread above for the current rates. Hope this is of some help Link to comment Share on other sites More sharing options...
sin_bkk Posted November 15, 2005 Author Share Posted November 15, 2005 (edited) Thanks alot so far. I have to rethink the offer. If I read this correctly, income tax for an income between 1.000.000 and 4.000.000 / year is 30% ...thats about 3 to 4 times of what you pay in sinagpore . I am shocked , didnt know the tax was that high edited.... I dont really understand it ...can someone give me an idea how much tax I have to pay on roughly 3.000.000 /year Edited November 15, 2005 by sin_bkk Link to comment Share on other sites More sharing options...
Andrew Mac Posted November 16, 2005 Share Posted November 16, 2005 These are the tax rates given in response to my post the other day: Taxable Income Tax Rate (%) Tax Amount Accumulated Tax 0 - 100,000 Exempt 100,001 - 500,000 ...... 10 %......... 40,000....... 40,000 500,001 - 1,000,000......20.............100,000......140,000 1,000,001 - 4,000,000.....30.............900,000.....1,040,000 4,000,001 and over..........37 Now, I'm not an accountant, but my understanding is that the rate on a yearly income of 3 million baht is therefore 140,000 (being accumulated tax up to the first million) plus 30% of the remaining 2 million ... giving a grand total of 740,000 baht. You might like to double-check my calculations, or consult an expert, but that's my understanding at least. I hope someone will correct me if I'm wrong, because I certainly don't want to mislead you!! Link to comment Share on other sites More sharing options...
sin_bkk Posted November 16, 2005 Author Share Posted November 16, 2005 ######, thats one of the highest taxes in asia . What do you guys do to get around this ??? Link to comment Share on other sites More sharing options...
AlexLah Posted November 16, 2005 Share Posted November 16, 2005 Hi All, I am in a similair situation and what did I do? My company wanted to send me to BKK from Sing, I not asked for that. Knowing that tax was high here in Thailand I told them that I would accept the position as long as they applied a so called 'hypo' tax. So my company pay all the tax for me in Thailand and I just pay the tax as I was staying in Singapore back to the company. No problem lah, Alex Link to comment Share on other sites More sharing options...
think_too_mut Posted November 16, 2005 Share Posted November 16, 2005 ######, thats one of the highest taxes in asia . What do you guys do to get around this ??? <{POST_SNAPBACK}> We don't go back to Australia where the tax is almost 50%. I mean those who are not corporate pawns that can be moved around with no say. Link to comment Share on other sites More sharing options...
cclub75 Posted November 16, 2005 Share Posted November 16, 2005 ######, thats one of the highest taxes in asia . What do you guys do to get around this ??? <{POST_SNAPBACK}> We use off-shore structures... If I had left Europe and their crazy taxes, it's not to give my money to the rotten thai government. Link to comment Share on other sites More sharing options...
thaihome Posted November 17, 2005 Share Posted November 17, 2005 ######, thats one of the highest taxes in asia . What do you guys do to get around this ??? <{POST_SNAPBACK}> Not really, been to China? 45% there. Most common method to reduce Thai income tax is having some salary paid offshore and not declaring to Thai Revenue dept. Used to be able to do that in Singapore, but they took to checking passports for how much time you spent out of the country. TH Link to comment Share on other sites More sharing options...
sin_bkk Posted November 17, 2005 Author Share Posted November 17, 2005 ######, thats one of the highest taxes in asia . What do you guys do to get around this ??? <{POST_SNAPBACK}> Not really, been to China? 45% there. Most common method to reduce Thai income tax is having some salary paid offshore and not declaring to Thai Revenue dept. Used to be able to do that in Singapore, but they took to checking passports for how much time you spent out of the country. TH <{POST_SNAPBACK}> I was thinking about this. I am PR in sing , so it should work , I guess Link to comment Share on other sites More sharing options...
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