Guest travelerjim Posted September 4, 2010 Posted September 4, 2010 Well it's about time...overdue? The Bank of Thailand has said it MAY re-impose a TAX on Foreign Capital flow into the country. Not the first time it did this...and is to curb the speculation which may be associated with the Thai Baht. http://www.thaivisa.com/forum/topic/395627-bank-of-thailand-ponders-re-imposing-tax-collections-on-foreign-capital-influx/ BANGKOK: -- The Bank of Thailand (BoT) is considering re-introducing imposing taxes on foreign capital inflows as an option in protecting the Thai currency, the baht, which has gained strength over the US dollar since the beginning of 2010, a senior BoT official said. Wongwatoo Potirat, senior director of the BoT Financial Markets and Reserve Management Department, said the BoT formerly collected tax on foreign capital inflows in case they stayed in Thailand less than three months as the money was considered for speculative purposes rather than for actual investment. read more.... Quote
PattayaMale Posted September 4, 2010 Posted September 4, 2010 The link that traveler Jim has inserted his from Thai visa.com. I didn't have a chance to read all of the posts concerning the article. Maybe others know more about this than I do, so when they refer to capital, I imagine they're not talking about the pension money we may transfer to Bangkok bank. Does anyone know if this is the intent? Quote
Guest voldemar Posted September 5, 2010 Posted September 5, 2010 The link that traveler Jim has inserted his from Thai visa.com. I didn't have a chance to read all of the posts concerning the article. Maybe others know more about this than I do, so when they refer to capital, I imagine they're not talking about the pension money we may transfer to Bangkok bank. Does anyone know if this is the intent? In the previous version of the reform the first 20000 US dollars (or any amount of money for real estate purchase) were exempt from any taxation. Quote
Guest travelerjim Posted September 6, 2010 Posted September 6, 2010 The link that traveler Jim has inserted his from Thai visa.com. I didn't have a chance to read all of the posts concerning the article. Maybe others know more about this than I do, so when they refer to capital, I imagine they're not talking about the pension money we may transfer to Bangkok bank. Does anyone know if this is the intent? PM, No it does not apply to your Pension Funds being transferred to Thailand. It does, as voldemar has noted, place a tax on larger amounts transferred into Thailand. It is done so to discourage speculation on the Thai Baht. The BOT Bank of Thailand has a BIG problem again at hand. Thai Exports will be hurt greatly if the Thai baht gets much stronger... and may already have hurt the exporters. tj Quote
