Got the Employment Pass - what next!

[XJSJohn]

Just receintly secured a job in Bangkok and just got my Work Permit (chop in passport / blue book that says i am an alien etc)

I have gone out and got myself 2 bank accounts so that i can figure which is the most usefull ATM wise etc for me.

I will be sorting out getting my Thai Drivers License in the coming weeks.

But what else should the newly annointed employment pass holder be applying for / setting up / registering now that he holds that holy grail?

I did ask about credit cards, but need between 3 and 6 months pay slips for that, seems fair enough.

I am sure that this has been done before on here and i did search a little, but unfamiliarity to the forum and not sure what the correct word combo's were meant that i didn't realy get any good hits.

Cheers!

Rgds,

John

[Colabamumbai]

You can get a motorbile or car in your name.

You can get a second employer added to the first, with permission from the first.

You can renew it yearly if with the same employer.

You are subject to Thai Taxes although they are rarely deducted or paid..

You are entitled to have your employer deduct a small amount I think it is for Thai Welfare like 30 -50 Baht a month....

[samran]

You can get a motorbile or car in your name.

You can get a second employer added to the first, with permission from the first.

You can renew it yearly if with the same employer.

You are subject to Thai Taxes although they are rarely deducted or paid..

You are entitled to have your employer deduct a small amount I think it is for Thai Welfare like 30 -50 Baht a month....

If you are working for any normal firm, your taxes WILL be deducted on a PAYG basis.

In most sectors (teaching aside I think), you'll have access to the Thai social security system, and 750 baht will be deducted from your pay per month...

[Satcommlee]

You can get contract mobile phones accounts easy enough... I got AIS to put 2 on contract after having the WP for only a few days.

Edited July 30, 2013 by Satcommlee

[LucidLucifer]

You are subject to Thai Taxes although they are rarely deducted or paid..

I've always worked legally in Thailand and I have always had to pay taxes. I would take the above claim VERY lightly (which is the polite way of saying it is a load of b.........s).

[SamMunich]

Fair thing to ask.

1) get a checking account at the bank of your choice... only after some time. Also: Ask for a local credit-card (not a debit card!), as some foreign cards will incurr add. charges.

2) get a savings account at any bank, which comes with ATM card. Some banks don't require a WP, only a 3-month visa. Soem banks (KTB et al) don't pay interest on savings of foreigners.

3) Driving licence is also available with a 3-month visa. If you got an int'l licence from home, take it with you, then you are saved from theory and practical test, just color-blindnes etc. will be tested.

4) You can get a post-paid mobile phone number,- in your name.

5) Same you can get a home phone/DSL line in your name

6) You get a tax record and have to pay taxes, but they are likely lower than back home,- unless you make many millions a year.

7) Social Security is being deducted: 5% of salary, max 750 Baht/month. This allows you to choose a hospital (from a list) where you get free (!) treatment OPD and in-house and medication. If or when you stop working, you can voluntarily continue with soc.sec., because you will nowhere else get such a cheap health insurance.

7) Car and/or motorcycle? You can buy and own them with a 3-month visa.

I'm sure there s even more...

SamMunich

[Colabamumbai]

You are subject to Thai Taxes although they are rarely deducted or paid..

I've always worked legally in Thailand and I have always had to pay taxes. I would take the above claim VERY lightly (which is the polite way of saying it is a load of b.........s).

I have been working for nearly 4 years with W.P.'s etc...Not one employer/school/resort has deducted taxes. I would prefer them to, in case I am asked for receipts. 4 Schools, one made bank deposits the others paid cash with the amount written on the envelope. I have always worked in Thailand legally. I am sure there are many others in the same situation. I do not write bullshit, as you would suggest.

[monty]

If you earn more then 20,000 Baht/month you will pay taxes.

Nobody will come chasing you if you or your employer don't, but, no taxes means no extension of stay based on employment (maybe with the exeption of teachers who are exempt of the minimum salary thing), and sure as heck the tax paperwork is needed for the extension of your work permit.

I have not yet met one foreigner earning more then the tax paying treshold not paying taxes and getting away with it, unless under declaring your salary which as per above only teachers can do....

Sent from my GT-I9001 using Thaivisa Connect Thailand mobile app

[Time Traveller]

You are subject to Thai Taxes although they are rarely deducted or paid..

I've always worked legally in Thailand and I have always had to pay taxes. I would take the above claim VERY lightly (which is the polite way of saying it is a load of b.........s).

I have been working for nearly 4 years with W.P.'s etc...Not one employer/school/resort has deducted taxes. I would prefer them to, in case I am asked for receipts. 4 Schools, one made bank deposits the others paid cash with the amount written on the envelope. I have always worked in Thailand legally. I am sure there are many others in the same situation. I do not write bullshit, as you would suggest.

Well if they pay cash handwritten on an envelop, then you're right, probably you/they are not paying any tax. Most companies give their employees payslips listing the amount withheld each pay period for tax. At the end of the year you should receive the annual tax withholding form from the employer. Any employer that does not or claims they pay and file on behalf of the employee is most likely breaking the law and not to be trusted. Your claim that they are rarely deducted or paid is wrong.

[XJSJohn]

Well, i at least know that i will be paying Taxes on a PAYE type system.

I have receintly moved up from Singapore which was home for a few years, so am driving on an ASEAN license at the moment but a valid point, i will need to convert to Thai soonish (think it was 1 year for Singapore, must check for Thailand! )

A good idea on the post paid mobile phone, will look at that over the weekend!

I did hear from some people that there are savings / Insurance / Endowments etc that can give tax relief, are they worth getting involved in or do the returns negate the tax benefits?

Finally, gold seems to be the unofficial currency here, is it worth while getting involved or is that very much a local thing?

Cheers for the help so far!

[LucidLucifer]

Self moderated....

Edited July 31, 2013 by LucidLucifer

[Time Traveller]

Finally, gold seems to be the unofficial currency here, is it worth while getting involved or is that very much a local thing?

Are you talking about Vietnam or Thailand? Every merchant in thailand will gladly accept the local currency Baht.

[samran]

Well, i at least know that i will be paying Taxes on a PAYE type system.

I have receintly moved up from Singapore which was home for a few years, so am driving on an ASEAN license at the moment but a valid point, i will need to convert to Thai soonish (think it was 1 year for Singapore, must check for Thailand! )

A good idea on the post paid mobile phone, will look at that over the weekend!

I did hear from some people that there are savings / Insurance / Endowments etc that can give tax relief, are they worth getting involved in or do the returns negate the tax benefits?

Finally, gold seems to be the unofficial currency here, is it worth while getting involved or is that very much a local thing?

Cheers for the help so far!

Look up Long Term Funds, usually referred to as LTF's which invest in Thai listed stocks. You can invest up to 15% or 300,000 baht of your before tax salary in them per year, thus reducing your income tax liability. Aberdeen and UOB (formerly ING) have a range of LTF's for different risk appetites. To benefit from the tax advantage you need to hold the LTF over 5 callender years, but this can easily be reduced to 3 years and 2 days if you invest (for instance) on 31 December 2013 you can withdraw tax free in 1 January 2017.

[XJSJohn]

Cheers for that! Both Aberdeen and UOB just around the corner so will pick up some of the paperwork and inwardly digest ...

TimeTraveller - the comment was more a case of how many local Thai's do put their savings into physical gold, although i understand that they can borrow against this at good rates as and when needed.

[joepattaya1961]

AFAIK you need a PorDor1 and PorDor91 for the extension of your stay based on a WP.

If you do not work as a teacher, your salary should be around THB 50,000 (in most cases) per month and the PorDor 1 and PorDor91 should show payments (and receipts) of the income taxes.

If you work as a teacher there is still income tax to be paid unless you earn below the tax-waiver of THB 150,000 per year.

Participation in Thailand's social security cost approx. THB 1500-THB 1750 per month and the employer usually pays half.

[XJSJohn]

Sorry, what is a PorDor?

Yup, a little over b50k

[Mario2008]

Por Dor #, is a form from the tax office with that number.

[XJSJohn]

gotcha!