Tax Question

[sin_bkk]

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

[singa-traz]

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.

[Andrew Mac]

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 One important thing is that the tax rates in the ThaiVisa page mentioned above are apparently out of date; see the thread above for the current rates.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

[sin_bkk]

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

[Andrew Mac]

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!!

[sin_bkk]

######, thats one of the highest taxes in asia . What do you guys do to get around this ???

[AlexLah]

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

[think_too_mut]

######, 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.

[cclub75]

######, 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.

[thaihome]

######, 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

[sin_bkk]

######, 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