Cheapcharly Posted May 15, 2013 Share Posted May 15, 2013 in a bracket up to 1 millions bahts income. tax is higher or lower? usa is around 12 percent is it the same in thailand? Link to comment Share on other sites More sharing options...
ballbreaker Posted May 16, 2013 Share Posted May 16, 2013 Thailand is slightly higher at 13.5% but that does not include deductible expenses and allowances which will lower the percentage. Link to comment Share on other sites More sharing options...
yourauntbob Posted May 16, 2013 Share Posted May 16, 2013 Thailand has a very progressive tax. I forget the exact numbers but you pay almost nothing for the first 15-20k (USD) but it then quickly makes 4 or 5 jumps to 37%. Link to comment Share on other sites More sharing options...
PalMan Posted May 16, 2013 Share Posted May 16, 2013 Very much lower percentage of the population actually pays any tax, nearly all income tax revenue comes from corporate salaries, most likely most personal income, small retailers etc is "grey market". Also no (or just very low?) property taxes, education and I guess other local government revenues doled out by the central government? Much higher percentage of total government income from consumption taxes like import duties and the VAT. Link to comment Share on other sites More sharing options...
Time Traveller Posted May 16, 2013 Share Posted May 16, 2013 Depends how you get your money. If it's from working in the US then you have to include medicare and social security as well as state taxes with your federal tax. If it's from investments you can pay a lower rate but in Thailand you can actually claim tax credits on the taxes already paid on investment income and it has no capital gains tax for equities. My guess is thailand has lower taxes at the 1 million baht mark. Link to comment Share on other sites More sharing options...
Cheapcharly Posted May 16, 2013 Author Share Posted May 16, 2013 most of my money come from my investment in bonds and stocks. resident in usa but living many months in Thailand(gf in Thailand) ,. I look at how I could decrease my tax wit the irs. i think for me it s better to stay in usa and pay my tax to the irs. Link to comment Share on other sites More sharing options...
PalMan Posted May 16, 2013 Share Posted May 16, 2013 if you're a US citizen then you have to file report everything and pay if owed no matter where you live anyway Link to comment Share on other sites More sharing options...
CaptHaddock Posted May 17, 2013 Share Posted May 17, 2013 most of my money come from my investment in bonds and stocks. resident in usa but living many months in Thailand(gf in Thailand) ,. I look at how I could decrease my tax wit the irs. i think for me it s better to stay in usa and pay my tax to the irs. Do you live in a high income tax state? If so, you might conceivably be able to avoid it, depending on the tax domicile rules on your state. Link to comment Share on other sites More sharing options...
ballbreaker Posted May 17, 2013 Share Posted May 17, 2013 (edited) Thailand personal income tax rates. 0 - 150,000 Exempt 150,001 - 500,000 10% 500,001 - 1,000,000 20% 1,000,001 - 4,000,000 30% 4,000,001 - and up 37% Edited May 17, 2013 by ballbreaker Link to comment Share on other sites More sharing options...
NeverSure Posted May 17, 2013 Share Posted May 17, 2013 (edited) most of my money come from my investment in bonds and stocks. resident in usa but living many months in Thailand(gf in Thailand) ,. I look at how I could decrease my tax wit the irs. i think for me it s better to stay in usa and pay my tax to the irs. Do you live in a high income tax state? If so, you might conceivably be able to avoid it, depending on the tax domicile rules on your state. South Dakota. Best state for an expat to remain a resident. No minimum physical presence, easy cheap driver's license, Mail forwarding service will give physical home address, no state income tax... Completely legal. You do have to go there once to get your driver's license and establish residency, which the mail forwarding service will help with. Edited May 17, 2013 by NeverSure Link to comment Share on other sites More sharing options...
Cheapcharly Posted May 17, 2013 Author Share Posted May 17, 2013 I got green card... now i took address at a friends house in California. can move to Texas. California has state tax...? i know texas has none... what's the best? I m poor. will not make lot of money. I don't care to be rich. can live with less 10k$ a year. few weeks in usa, back in thailand. the system will not make me miserable... like many people living on western countries... and i will not work 3 jobs to survive... i m giving up... sorry. 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