Taxes: Proposal
Day 755, 09:42
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Published in Thailand 
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by
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by darden
Hi all Thailand's Citizen.
14 hours ago the congressman August L. Isaan propose two laws about the taxes:
- Tax Change Food : Vat 10% Income 1% Import 9%
- Tax Change Gift : Vat 1% Income 10% Import 9%
each of this two proposal in my opinion aren't good for our situation, why i say this thing? Well now i will explain,but before a little explanation of the tax.
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INCOME
This is the tax that pay the citizen when work, and the tax that pay the company manager when done a collect of money ( we know all well that this tax is never payed by a good company manager).
__________________________________
VAT
This is the tax that pay each Thailand's company when want sell their product on our market
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IMPORT
This is the tax that pay a foreign company when buy a license and sell the product on our market, the company will pay also the VAT tax.
__________________________________
After this we can do some consideration about the two proposal:
1- There are two different value of INCOME this isn't a good thing because the people will go to work in sector where the tax are lower and so the gift sector will be disadvantaged compared to the food sector
2- The import must be different for the different sector of manufactoring because for us is essential import the right thing, isn't a good thing if a foreign company of food come in thailand for selling isn't what we need
Well now is time of say my proposal for the taxes
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Income : 5% will be the same for all the sector a income of 5% or 10 % don't change our life because for example a skill 3 gain 7 thb , in a week he will gain 49 thb and pay 2,45 thb of tax with the 5% and 4,9 with 10% , a difference of 2,45 thb for us isn't a great gain but for the player 2,45 are 3 food q1.
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VAT : 1% will be the same for all the sector, with this value our company will be competitive in the world and the people will move the org in our country for buy our product in this way our economy will growing up.
__________________________________
Import for this tax will be different value because how i say before we need import the right product
Food : 40% it's an high value because i watch our internal stock of food and i say that we don't need foreign company and if they want sell to us is important a gain for our country. At the moment we have a stock of 4,299 q1, 702 q2 ,136 q3.
Weapon: 5% this is the sector with the lowest import value because we haven't good stock of weapon, and at the moment we can close our market to the foreign company
Gift: 15 % we have a good quantity of q1 and q2 in the company stock but some times the market is empty, so is better a medium value so we will gain by the import and we don't stop the company thath want buy a license
Ticket: 30% we have good quantity of q1 and we have more than one active company on the market, so the import is useless
__________________________________
Well this is in my mind what the thailand need for the manifacturing taxes, tomorrow i will do a study of all our citizen, for see the complete economical situation and will say something about the land and costruction.
Sorry for my really bad english -.-
Darden , Jedi Knight
14 hours ago the congressman August L. Isaan propose two laws about the taxes:
- Tax Change Food : Vat 10% Income 1% Import 9%
- Tax Change Gift : Vat 1% Income 10% Import 9%
each of this two proposal in my opinion aren't good for our situation, why i say this thing? Well now i will explain,but before a little explanation of the tax.
__________________________________
INCOME
This is the tax that pay the citizen when work, and the tax that pay the company manager when done a collect of money ( we know all well that this tax is never payed by a good company manager).
__________________________________
VAT
This is the tax that pay each Thailand's company when want sell their product on our market
__________________________________
IMPORT
This is the tax that pay a foreign company when buy a license and sell the product on our market, the company will pay also the VAT tax.
__________________________________
After this we can do some consideration about the two proposal:
1- There are two different value of INCOME this isn't a good thing because the people will go to work in sector where the tax are lower and so the gift sector will be disadvantaged compared to the food sector
2- The import must be different for the different sector of manufactoring because for us is essential import the right thing, isn't a good thing if a foreign company of food come in thailand for selling isn't what we need
Well now is time of say my proposal for the taxes
__________________________________
Income : 5% will be the same for all the sector a income of 5% or 10 % don't change our life because for example a skill 3 gain 7 thb , in a week he will gain 49 thb and pay 2,45 thb of tax with the 5% and 4,9 with 10% , a difference of 2,45 thb for us isn't a great gain but for the player 2,45 are 3 food q1.
__________________________________
VAT : 1% will be the same for all the sector, with this value our company will be competitive in the world and the people will move the org in our country for buy our product in this way our economy will growing up.
__________________________________
Import for this tax will be different value because how i say before we need import the right product
Food : 40% it's an high value because i watch our internal stock of food and i say that we don't need foreign company and if they want sell to us is important a gain for our country. At the moment we have a stock of 4,299 q1, 702 q2 ,136 q3.
Weapon: 5% this is the sector with the lowest import value because we haven't good stock of weapon, and at the moment we can close our market to the foreign company
Gift: 15 % we have a good quantity of q1 and q2 in the company stock but some times the market is empty, so is better a medium value so we will gain by the import and we don't stop the company thath want buy a license
Ticket: 30% we have good quantity of q1 and we have more than one active company on the market, so the import is useless
__________________________________
Well this is in my mind what the thailand need for the manifacturing taxes, tomorrow i will do a study of all our citizen, for see the complete economical situation and will say something about the land and costruction.
Sorry for my really bad english -.-
Darden , Jedi Knight
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Comments
Well, August messed up with the food taxes. It's supposed to be Vat 1% Income 10% Import 9% all around.
Yes, I think everyone agrees about a 1% VAT tax. Aside from that everyone agrees on a flat income tax, though there is a disagreement on the exact income tax rate, though not much disagreement. Like you said, we have a limited number of citizens, and our wages. From what I can see, we would earn about 1500-2000 extra THB a month with 10% income tax instead of 5%. For now, we don't really need that amount of money. So a 5% income tax should actually be fine.
As far as import taxes, many of our companies will sell at the cheapest rates in the world regardless of imports and we have only a limited amount of companies wanting to export to us so it is likely that import taxes are less important than most of us think anyway, whether higher or lower.
I personally prefer even import taxes across all manufacturing industries, but I can live with uneven ones.
As far as stocks of products like food, I think that high stocks mean we need to produce less, or lower the price, and that less imports will not help. For example, the amount of q1-q3 food you listed us as having is enough to last everyone in Thailand for 15 days, even if every single person is active, and we produce no more. So, I don't think that less imports alone will fix that. Also we need more high quality food, but that might be an argument for higher or lower import taxes depending on your perspective.
I'd prefer no import tax to be above 25%, but I think 30% is ok. So if the food import tax were changed to 30%, I think these taxes would be fine with me.
Mostly I'm just glad to see more people debating taxes, or anything for that matter.
P.S. Your english is better than most real life Americans. 😛
Wow, that comment is long. Here is the short version:
I think food import taxes should be 30%.
Thank you, darden, for entering the discussion. I am fine with 1% VAT and 10% income tax, and I can live with 5% income tax, too, if Vincent agrees to this. When thinking further about these two tax types, I would like to see taxes in the construction sector at the same values, but have a significantly higher income tax in the raw materials sector, because raw material companies are inefficient in Thailand.
Regarding the import tax I want to add another aspect: Import taxes are not only regulating the volume available on our market. They are also an instrument to keep price levels low. Just recently I learned from a discussion with darden, that it is possible for a Thai company to sell at lowest world market prices and still make profit. To say it clear: A good Thai company can compete with foreign companies even at low (one-digit!) import taxes. An inefficient Thai company should be closed down or upgraded to something more efficient anyway. There is one thing to fear, though: foreign companies dumping big amounts of their goods on our market and selling them at a loss, as such causing problems even for good Thai companies. The chances for this are not very high, I believe, because we have neither a big market nor an attractive price level for foreign companies to purchase an export license in the first place. To sum up, I want to set the import tax at 9% (or lower) and only in case of misuse by a foreign company first threaten this company to raise the tax and, if necessary, do it.
Ha ha sorry everyone.
Don't worry August L. Isaan is just a wake up for all 😃
Yes maybe also you(garibaldi and thigol) have the right point with the import so we can live with low import(9-10) until someone come here and sell on our market too much product.
Btw i have earned all the information about thailand worker so i will do another article this morning for all the sector(man,land,con).
sì vabè Darden, ma io che sono iscritto al tuo giornale me ne infischio della Tailandia! 🙂
...niente volevo solo salutare 🙂