Connect with us

Banking

Thai Banks to tax savings interest above 20,000 baht

Published

on

BANGKOK, 23 April 2019 (NNT) – The Thai Bankers Association has held a meeting to find a solution to the savings interest tax and to provide maximum convenience to bank customers who might be obliged to divulge their savings account activity to the Revenue Department so that no such tax would need to be collected if the interest amounted to less than 20,000 baht.

Kobsak Duangdee, the secretary general of the Thai Bankers Association, said the TBA held a meeting with member banks on Tuesday to discuss the Revenue Department’s plan to collect the 15% savings interest tax in cases where the interest amounts over 20,000 baht per annum and that the savings accounts’ owners provide relevant data to the department.

Banks to find solution to savings interest tax

Mr. Kobsak Duangdee, the secretary general of the Thai Bankers Association

For that matter, the working group is seeking the best way-out among several alternative means to provide maximum convenience to bank customers. More than 80 million savings accounts have been opened at all banks in the country.

Those who may have opened savings accounts at several banks may agree to fill out such data in a form at a certain bank branch so that the interbank data can be submitted to the department or sign an agreement via Mobile Banking.

He said bank customers shouldn’t panic because no tax would be charged if their savings account amounted to less than four million baht. The TBA and member banks have scrambled to disseminate the information to their customers and create an understanding accordingly. However, bank customers need not sign any agreement on such matter as yet.

Source link

Banking

The Importance of E-Wallets for Online Gaming Sites

With e-wallets and cryptocurrency being the most relevant options, banks have been put on the side burner, especially when e-wallets and cryptocurrency allow for fast electronic transfer, that is done instantly.

Published

on

e-wallet

Online gambling is an industry that needs to keep up with technological trends, to make sure it stays relevant and convenient within the gambling community.

(more…)
Continue Reading

Banking

Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures

The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.

Published

on

BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.

(more…)
Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,162 other subscribers

Wise

Recent