Strong Baht Weak Baht

[seven]

15 minutes ago, Pdoggg said:

Consumer debt has increased dramatically in Thailand in the past 20 years.  It's much easier for Thais to finance cars and motorbikes nowadays than years ago. 

Sounds like the west. People are up to their necks with mortgages, interest rates increasing every month. Banks making record profits.

Are the thais still untaxed below 15 K/month?

[Pdoggg]

Just now, seven said:

 

Are the thais still untaxed below 15 K/month?

Tax rates

The tax rates in 2023 for employment income and hire of work are as follows:

Taxable income (Baht)	Tax rate %
1-150,000	Exempt
150,001-300,000	5%
300,001-500,000	10%
500,001-750,000	15%
750,001-1,000,000	20%
1,000,001-2,000,000	25%
2,000,001-5,000,000	30%
5,000,001 and over	35%

Allowances

The amount of assessable taxable income is net of allowances:

Type of Allowance	Amount
Deductible expenses for income	50% of income (capped at 100,000 baht)
Personal allowance	60,000 baht
Spouses (with no income)	60,000 baht
Child (with income not exceeding 30,000 baht) (Under 20 years of age, regardless of whether he is studying; or under 25 years of age, but he must be studying at a university, either in Thailand or abroad. There is no limit on the number of natural children that can be claimed, but there is a limit of three when claiming adopted children.)	30,000 baht per child
Second child born from 2018 onwards (Same criteria as for “Child Allowance” above)	60,000 baht per child
Health insurance premiums paid by the taxpayer*	Amount actually paid, but not exceeding 25,000 baht
Life insurance premiums paid by the taxpayer*	Amount actually paid, but not exceeding 100,000 baht
Provident Fund contributions (PVF) **	Up to a maximum of 500,000 baht, but not exceeding 15% of income
Retirement mutual fund (RMF) **	Up to a maximum of 500,000 baht, but not exceeding 30% of income
Super Saving Fund (SSF) **	Up to a maximum of 200,000 baht, but not exceeding 30% of income
Home mortgage interest	Amount actually paid, but not exceeding 100,000 baht
Charitable contributions	Amount actually donated, but not exceeding 10% of income after standard deductions and allowances. There is a double deduction allowed for donations to educational organizations, but not exceeding 10% of income.

 

[Pdoggg]

The newly elected president of Argentina wants to abolish their central bank and make the US Dollar the official currency.

[seven]

3 hours ago, Pdoggg said:

The newly elected president of Argentina wants to abolish their central bank and make the US Dollar the official currency.

And make organ trafficking legal. Its Donnie 2.0.

[Rom]

2 hours ago, Pdoggg said:

The newly elected president of Argentina wants to abolish their central bank and make the US Dollar the official currency.

Argentina can adopt the USD but cannot abolish most central bank functions such as reserves management, banking supervision, liquidity provision to banks, economic modeling and research.  Likely they will just rename the central bank "Monetary Authority" or something like that and are in for a brutal public finances shock if they adopt the USD cold turkey at a rate that guarantees full conversion of existing balances in national currency.