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Sunday, May 6, 2012

A lesson in Tax and Food at Krua Srisa-ard Khon Kaen Thailand

I posted about a year ago about this restaurant and Khun Suttipong and his wife Tim before and occasional updates about the "geezer meetings" that take place on some weekends. I stopped in yesterday for a beer, or more and a chat. Khun Suttipong beside being quite knowledgable about the area is also a business and tax consultant. Earlier in the week a friend down in Korat had mentioned having just paid 37,000 Baht on some rental property his wife and he own, so I was a bit interested in the subject. To put it concisely there is a 12.5% tax on rental income. If you pay 10,000 Baht per monthrent the owner of the propert by law is paying 1,250 baht per month to the government in taxes on that income. Okay, to keep it short how many millions if not billions of baht do you think in unpaid taxes exist in Thailand. Don't forget hotels and apartments and nyhow this view of the restaurant ought to whet your appetite.