Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[GazR]

What goes up must come down it is the law of gravity and economics, also I am sure they were saying a similar thing before the crash in 97!

There's no comparison between now and 1997, in 1997 there was no central bank for starters!

Fact: The actions of the BOT (that's the central bank, dude) were one of the main triggers of the East Asian Financial Crisis.

Edited May 6, 2013 by GazR

[Thai at Heart]

What goes up must come down it is the law of gravity and economics, also I am sure they were saying a similar thing before the crash in 97!

There's no comparison between now and 1997, in 1997 there was no central bank for starters!

Fact: The actions of the BOT (that's the central bank, dude) were one of the main triggers of the East Asian Financial Crisis.

Oh come on, we all know it was an enormous conspiracy from George Soros to take over Thailand with forcing all those people to borrow USD to build all those condos, golf courses and dodgy investments.

[wellred]

What's it going to take for a crash? I've got a holiday this year. Wish these lot would stop being so selfish and think about us tourists.

[Eesat]

I love markets like this!

After 26 years of living here I am once again looking for lots of cheap condos and houses shortly after the crash happens.

I am sorry, the sort of investment I see in condos is not sustainable.

In 1998 after the crash I had a friend who bought a huge 300 meter condo in soi 11 for 4 million and another bought a 250 meter one in soi 8 for 3 million. Since then they have more than quadrupled in value.

Bring on the Bubbles!

Unfortunately any gains he's made since 1998 have been more than wiped out by the fact that he's 15 years into his 30 year leasehold,which is all he's allowed to buy a condo for in Thailand!

They have intrinsic value a bit like trading options,the joys of property speculation in Thailand and he's halfway to expiration on his Condo Call!

They should give you the Delta value of your penthouse when you sign up at the estate agents!

Lease on a condo?

to the best of my knowledge foreign ownership of condos with the ratio Thai 51: Foreigners 49 was introduced mid 1998 and at that time thousands and thousands of condos were suddenly eligible to be purchased by foreigners. before that it was the company route to go.

Delta value = bla-bla-bla! have never heard of any condo with a 30Y lease.

Do you even know what a Delta is?I'll take it by your buffoonish "bla-bla-bla!" statement that you don't but feel free to prove me wrong,I won't hold my breath!I'm certainly no expert on property laws in Thailand but I thought that condos were only allowed to be owned leasehold for 30 years.Further Googling has shown you can own freehold but seeing condos at 20 million baht in Bangkok hasn't exactly made me rush down to the estate agents.

You can get a three bedroom house in Fulham,West London for that sort of money and I know which I'd rather own for rental yield and resale value!

[Eesat]

What's it going to take for a crash? I've got a holiday this year. Wish these lot would stop being so selfish and think about us tourists.

The BOT Governor and Finance Minister to carry on doing nothing?

[chiang mai]

What goes up must come down it is the law of gravity and economics, also I am sure they were saying a similar thing before the crash in 97!

There's no comparison between now and 1997, in 1997 there was no central bank for starters!

Fact: The actions of the BOT (that's the central bank, dude) were one of the main triggers of the East Asian Financial Crisis.

My error, I had intended to wrie, ""no independant BOT".

[chiang mai]

I have a lease on a condo, why not.

Curious why? You mean lease or rental contract?

I have a three year lease with an option of a further two years, it fixes my costs for the period when I am pretty certain I do not want to buy - I agree however that a 30 year lease on a condo would be pretty unusual and somewhat pointless.

[Naam]

Do you even know what a Delta is?I'll take it by your buffoonish
"bla-bla-bla!" statement that you don't but feel free to prove me
wrong,I won't hold my breath!I'm
certainly no expert on property laws in Thailand but I thought that
condos were only allowed to be owned leasehold for 30 years.Further
Googling has shown you can own freehold but seeing condos at 20 million
baht in Bangkok hasn't exactly made me rush down to the estate agents.

You can get a three bedroom house in Fulham,West London for that sort of
money and I know which I'd rather own for rental yield and resale value!

as a retired physicist&mech.eng. i know that the greek letter "delta"
stands for "difference". i'm sure you were pointing to "residual value"
based on the remaining lease period. δ is also used in mathematics and finance.

that you "thought" that foreigners can only own condos by leasehold does not
justify your above mentioned claims. irrelevant is to tell us that you
can't afford a THB 20 million condo. moreover, this is a thread covering the

alleged boom in Thailand and not real estate prices in Fulham, West London.

summary: -"thinking" and presenting [wrong] "thoughts" as facts = bla-bla-bla.

[MaiChai]

I would add that Thailand is much more of an economic powerhouse now compared to the crash before. I mean in terms of manufacturing and exports; in fact, Thailand is like the Germany of Se Asia (although it might lack the expertise of the Germans). So I do agree we are in a bubble, but the economy may be more robust to cope with it.

[Thai at Heart]

I would add that Thailand is much more of an economic powerhouse now compared to the crash before. I mean in terms of manufacturing and exports; in fact, Thailand is like the Germany of Se Asia (although it might lack the expertise of the Germans). So I do agree we are in a bubble, but the economy may be more robust to cope with it.

It's partly because it is so export orientated that a strong currency is such a potential issue. Why are the Germans so determined to push austerity than push countries out of the euro?

It keeps the euro weak.

[Eesat]

Do you even know what a Delta is?I'll take it by your buffoonish

"bla-bla-bla!" statement that you don't but feel free to prove me

wrong,I won't hold my breath!:coffee1:I'm

certainly no expert on property laws in Thailand but I thought that

condos were only allowed to be owned leasehold for 30 years.Further

Googling has shown you can own freehold but seeing condos at 20 million

baht in Bangkok hasn't exactly made me rush down to the estate agents.You can get a three bedroom house in Fulham,West London for that sort of

money and I know which I'd rather own for rental yield and resale value!

as a retired physicist&mech.eng. i know that the greek letter "delta"

stands for "difference". i'm sure you were pointing to "residual value"

based on the remaining lease period. δ is also used in mathematics and finance. that you "thought" that foreigners can only own condos by leasehold does not

justify your above mentioned claims. irrelevant is to tell us that you

can't afford a THB 20 million condo. moreover, this is a thread covering thealleged boom in Thailand and not real estate prices in Fulham, West London. summary: -"thinking" and presenting [wrong] "thoughts" as facts = bla-bla-bla.

No,I was talking about the full Greeks in options trading as in Delta,Gamma,Theta,Vega and Rho.So I was correct with my assumption you had no clue!

Your assumption that I can't afford 20 million is also incorrect,I said I would rather purchase property in the safest property market in the world,London!

So you're wrong on both counts I'm afraid,better luck next time,maybe better to keep quite though instead of show your ignorance to all and sundry?

[apetley]

Political stability? How many bombings in Southern Thailand per week ? Currently the South is smoldering. When it starts moving North, Maybe some people will notice.

And perhaps one day Singapore might invade!

not to forget the alien shapeshifters from the gamma quadrant!

Led on by a rogue Klingon no doubt.

[hellodolly]

Thailand's growth may be sustainable, or it might not, but with things like the rice-scam & 50-year borrowing for 30%-corruption infrastructure-spending, or the apparent property-bubble, my own opinion/money tends towards its' not lasting forever ...

Perhaps I'm too cautious ?

I have to agree with you the 2.2 trillion baht loan will take 50 years to pay off and really not accomplish that much. They talk about High speed trains to go to Chiang Mai and other locations but when you read the small print none of them will go to where they claim they will go. They are just putting in the first leg of the journey and depending on private industry to complete the job. Here in Bangkok they will do the first leg of the journey and there are two more legs to follow before they get to Chiang Mai both depended on private industry.

[impulse]

It's different this time.

Really, it is....trust us.

Do we trust anybody? This report is by a western company... your comment is usually reserved for Thai's. Perhaps this starts a new chain of postings on TV (the whole world is against us!)

My comment was not a slam at all on Thailand.

If it walks like a duck, quacks like a duck and...

This looks like a bubble, returns and growth with no underlying fundamentals, and a bunch of "experts" telling us why it's for real this time.

Like the dotcoms, ENRON, the housing bubble, CDO's and... (need I go on?)

Unfortunately you cannot compare Thailand to a specific American market or financial instrument or company even.Whatever happens Thailand will still exist in one form or another once the smoke clears!

TiT!!!

Maybe you are right.

But I'm more comparing a paid expert telling everyone that, "it's different this time", a position that probably has more ulterior motive than real substance.

[belg]

there is only a crash about every 11 - 12 years where many people lose a lot and the elite that gains a mountain because of inside information to sell on time or start short selling some stocks

[longtom]

Do you even know what a Delta is?I'll take it by your buffoonish

"bla-bla-bla!" statement that you don't but feel free to prove me

wrong,I won't hold my breath!:coffee1:I'm

certainly no expert on property laws in Thailand but I thought that

condos were only allowed to be owned leasehold for 30 years.Further

Googling has shown you can own freehold but seeing condos at 20 million

baht in Bangkok hasn't exactly made me rush down to the estate agents.You can get a three bedroom house in Fulham,West London for that sort of

money and I know which I'd rather own for rental yield and resale value!

as a retired physicist&mech.eng. i know that the greek letter "delta"

stands for "difference". i'm sure you were pointing to "residual value"

based on the remaining lease period. δ is also used in mathematics and finance. that you "thought" that foreigners can only own condos by leasehold does not

justify your above mentioned claims. irrelevant is to tell us that you

can't afford a THB 20 million condo. moreover, this is a thread covering thealleged boom in Thailand and not real estate prices in Fulham, West London. summary: -"thinking" and presenting [wrong] "thoughts" as facts = bla-bla-bla.

No,I was talking about the full Greeks in options trading as in Delta,Gamma,Theta,Vega and Rho.So I was correct with my assumption you had no clue!

Your assumption that I can't afford 20 million is also incorrect,I said I would rather purchase property in the safest property market in the world,London!

So you're wrong on both counts I'm afraid,better luck next time,maybe better to keep quite though instead of show your ignorance to all and sundry?

I would be careful to call Naam ignorant, I asssume you were not an avid reader of the TV business forum in the last few years?

[Naam]

No,I was talking about the full Greeks in options trading as in
Delta,Gamma,Theta,Vega and Rho.So I was correct with my assumption you
had no clue!

yeah right genius! i had indeed no clue that the full Greek letters in option

trading have a strong bearing on the value of penthouses which foreigners

can only lease for 30 years but only when cheaper than a 3-br home in

Fulham, West London. shame on me...

[Robby nz]

I seem to remember a topic not so long ago where the Minister of Finance after a meeting with the BOT boss and others admitted that a major reason for the high rate of overseas investment were the inflation proof bonds the Govt had been selling.

There was, if I remember correctly also something about the Finance Ministry not collecting taxes and fees on these transactions which made them more attractive.

If that is true then it is hardly fair to blame the BOT for not dropping the base interest rate for inflation proof bonds would be giving a higher rate than the base.

[rayongchelsea]

No productivity gains, strong currency, increase corruption,counter cyclical to the west...will happen.

I sat in an international office in bangkok with the area vp..1996.. He was projecting sales forward for the next 10 years..rosy, rosy, rosy..we all know what happened.

For me just as an everyday experience , people are buying on credit..low interest rates..we have all seen the consequences of that before..but will not be on the same scale as 1997..that's was truly bad..

[AnotherOneAmerican]

No productivity gains, strong currency, increase corruption,counter cyclical to the west...will happen.

I sat in an international office in bangkok with the area vp..1996.. He was projecting sales forward for the next 10 years..rosy, rosy, rosy..we all know what happened.

For me just as an everyday experience , people are buying on credit..low interest rates..we have all seen the consequences of that before..but will not be on the same scale as 1997..that's was truly bad..

My home loan costs 7%, as far as I can see that isn't a low interest rate.

Did you mean 'easy credit' by any chance? That I could agree with.

[waza]

Naam is the master of making the condescending post seem enlightened and authoritative while imparting no constructive information.

[NeverSure]

="6373751%

Edited May 7, 2013 by NeverSure

[NeverSure]

This announcement was brought to you by the same people who dreamed up the rice scheme. These are the same people who thought they could control the world price of rice. These are the same people who have egg on their face from that, and who have had to borrow money to pay for it.

These are the same people who made the borrowed money for flood control disappear without even needing a rabbit or a top hat.

These are the same people who are trying but failing to borrow 2 tril baht to build a planned pretended high speed rail system and put the country in debt for 50 years.

These are the same people who's credit rating sucks so bad they have to pay a premium to borrow money.

These are the same people who raised the minimum wage by an outrageous percentage, and now are ordering merchants to not raise prices.

Theses are the same people who brought us the no-down car loan debt-for-all-even-if-you-can't-afford-it scheme.

These are the same people who brought us the no-down home loan scheme.

This economy is debt driven.

Where's my BS flag?

[NeverSure]

Thailand’s economic bubble – another Asian crisis?

March 9, 2013

On the surface the Thai economy appears to be doing well. Economic growth this year is expected to be between 4.5% – 5.5%. Unemployment, which is
the envy of the world is below 1 %. Exports rebounded in January 2013 to 16.1% and the Government is set to unveil mega-investment of Bt2.2
trillion over the next 5 years.

However, scratch beneath the surface and growing financial imbalances are obvious and worrying. Left unchecked these could result in a repeat
of the 1997 financial crisis. The financial imbalances are apparent in the governments fiscal policy management, the Bank of Thailand’s (BOT) monetary policy, the financial and real estate sector and household debt.

Government debt inside and outside the budget is burgeoning. The government continues to run a deficit of Bt300 billion this fiscal year, after a Bt400 billion deficit in the last fiscal year. Additionally, the government plans to invest Bt2.2 trillion until 2020 to improve infrastructure. Most of this will come from borrowing.

More......

Link

[Publicus]

How many booms can be sustained ad infinitum?

And more to the point, if you were going to back a country that might be capable of keeping a boom going how many would put their money on Thailand?

Thais are full of a thing they know nothing about - hubris. Thais are always convinced they know everything for sure. It's not that they talk a good game, they believe their own talk, believe they are in command and immune. Thais learned nothing from the '97 fiasco which was entirely visible and foreseeable. And what was the Thai answer to '97? They blamed Chavalit personally, individually. Then they blamed the fahlang. So lo and behold came Thais Love Thais and Thaksinomics. Now Thailand is getting Thaksinomics on top of the old ways that caused the crash of 97.

Can't learn.

Edited May 7, 2013 by Publicus

[chiang mai]

="6373751%

[Naam]

How many booms can be sustained ad infinitum?

And more to the point, if you were going to back a country that might be capable of keeping a boom going how many would put their money on Thailand?

Thais are full of a thing they know nothing about - hubris. Thais are always convinced they know everything for sure. It's not that they talk a good game, they believe their own talk, believe they are in command and immune. Thais learned nothing from the '97 fiasco which was entirely visible and foreseeable. And what was the Thai answer to '97? They blamed Chavalit personally, individually. Then they blamed the fahlang. So lo and behold came Thais Love Thais and Thaksinomics. Now Thailand is getting Thaksinomics on top of the old ways that caused the crash of 97.

Can't learn.

they need to hire a few Farang advisers with proven records how to run a country's economy. why don't you apply?

[chiang mai]

This announcement was brought to you by the same people who dreamed up the rice scheme. These are the same people who thought they could control the world price of rice. These are the same people who have egg on their face from that, and who have had to borrow money to pay for it.

These are the same people who made the borrowed money for flood control disappear without even needing a rabbit or a top hat.

These are the same people who are trying but failing to borrow 2 tril baht to build a planned pretended high speed rail system and put the country in debt for 50 years.

These are the same people who's credit rating sucks so bad they have to pay a premium to borrow money.

These are the same people who raised the minimum wage by an outrageous percentage, and now are ordering merchants to not raise prices.

Theses are the same people who brought us the no-down car loan debt-for-all-even-if-you-can't-afford-it scheme.

These are the same people who brought us the no-down home loan scheme.

This economy is debt driven.

Where's my BS flag?

One thing we can all be certain of is that any fiancial activity on the part of BOT or the Thai government will be misinterpreted by Neversure as detrimental to the economy. But with artlcles from such renowned publications as 121 International Investments (huh!) to support his wild theories who can argue that he is wrong, I mean, the fact that he has yet to produce a single piece of independant and meanigful statistical data from any renowned source (except 121II of course, ahem) speaks volumes, ask him about the status of the Thai banks NPL and see how far that discussion goes!

No siree, I'm afraid, unfortunately, that to understand NS's repetitve rants on the Thai economy one needs to examine NS in Issan these past ten years to see what (or who) might possible have changed his attitude and made him so bitter towards Thailand. I mean, it's one thing to take an intellegent view of finacial affairs in Thailand and to offer up an informed and balanced opinion, it's yet another to post that the economic sky if falling in every thread that even mentions the Thai economy, to do the latter requires a serious dislike for anything (and anybody) Thai. As a wise man once said, "if you have an agenda, you can make figures lie".

Edited May 7, 2013 by chiang mai

[Ricardo]

there is only a crash about every 11 - 12 years where many people lose a lot and the elite that gains a mountain because of inside information to sell on time or start short selling some stocks

So Thailand is now overdue for a crash, it being 16 years, since the last one ?

[Thai at Heart]

there is only a crash about every 11 - 12 years where many people lose a lot and the elite that gains a mountain because of inside information to sell on time or start short selling some stocks

So Thailand is now overdue for a crash, it being 16 years, since the last one ?

It won't be a crash, if it happens for the simple reason that they aren't attempting to fix the exchange rate. The market will sort it out on its own instead of their being a mess like 97.

If the economy stalls , the money will move back out of the economy and the rate drops. They have scope to cut rates if growth stalls also. Those dreaming of a 97 catastrophe are barking up a very selfish tree.