What are the taxes in Bangkok? What percentage of salary do they come out to when added together?
Are you referring to the vat tax or the income tax? I'm not aware of any Bangkok taxes.
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I'm sorry, I meant collectively the income taxes for someone living/working in Bangkok?
if you're talking about income tax i always set aside 1000baht/month. I had to take care of the tax bill myself, although some schools will deduct them.Originally Posted by vallient
fred
Like everywhere; it depends how much you make. Here in the boonies, when I taught, I made ฿31,000/mos for 10 months and payed 10% after deducting the first ฿100,000 and my personal deduction of ฿30,000 and another ฿15,000 for my social security insurance payments.
From your previous threads, you'll likely be paying more because your income will be considerably more than mine. It still beats the hell out of the west.
"...and another ฿15,000 for my social security insurance payments."
They let you get away with that? The max should be 9.000 for one person.
OP, it depends on total amount you earn for the year, less any deductions you are eligible for. Once you know those numbers. you can calculate the tax.
Google 'Thai tax calculator' and see if you get a hit. I know something has been posted in the past.
Terry
Calculate your salary to the end of the current year.
Deduct 150,000thb as it's a tax free allowance.
You will pay tax on the rest, unless you have other tax breaks/allowances.
Rate of tax is usually 7% for TEFLers.
Don't know the breakdown of %s, but think it's 7% up to 500,000thb earned, then 10%. Don't quote me on that though. Check it out.
---Update---
One pitfall newbs fall into is starting work in May, but their employer taxing them as if they've been working since Jan 1st.
That why there are refunds; which are payed.
if your american you have a 2 year tax exemption. So taxes aren't an issue until your third year of employment.
150,000 tax free allowance..? can that be for anyone? what 'other' tax breaks/allowances are there over there?
Huh?
---Update---
Not tax free; anybody working here is given that as a deduction (many people in this country don't make 150k). If one makes that or less (from Thai employment) then you pay no taxes except the vat (value added tax) on applicable items.
www.irs.gov/pub/irs-trty/thailand.pdf
article 23
for some reason its not well known. it should be though
you can down load a copy and take to the tax office, they will know what it is
Not always paid to the teacher though, if you catch my drift.
A few agencies take 2k out of their teacher's pay every month as tax, many newbs accept this without questioning or looking into it. There was a big thread a few months ago about some guy who had 20k held back by his school as 'tax' when he didn't owe a single baht... of course it ended up that it was all a 'misunderstanding' when people were dragged down to the tax office.
---Update---
There are other factors involved other than just 'being American'.
not many more.
You have to be teaching or involved in research. Its limited to two years and the counting starts at the beginning of employment.. So if you've been in Thailand for more then 2 years and did not claim it , you missed the boat.
Thankfully I'm not American. Though I did know one who got all worked up because he just moved to Thailand and felt he was entitled to it.
He wasn't.
He went psycho and ended up fleeing to Mongolia.
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