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Immigration officials push back against the new retirement visa guidelines

The Thaiger

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Immigration officials push back against the new retirement visa guidelines | The Thaiger

Days after new rules for the processing for foreign retiree visas were published, immigration officials are reportedly pushing back against them. The report was in Khaosod English citing inside sources.

According to the Immigration department, starting March 1, foreign retirees must either show a monthly income of at least 65,000 baht or hold a minimum of 800,000 baht in Thai banks.

The new retirement visa guidelines say applicants must maintain that amount in the bank for three months after a visa or extension is granted, after which they can only take out half. The new rules also make unclear how long applicants must wait to learn whether their visas or extensions have been approved.

The source also said some operatives who oversee visa processing will file memos to their commanders declaring that they are no longer sure how to process requests under the new regulations published Monday.

“We will ask them to reconsider,” said the official, who declined to give his name because he was not authorised to speak to the media.

Another official at the Immigration Bureau said the changes were ordered from the top after four embassies in Thailand – Britain, the United States, Denmark and Australia – stopped issuing affidavits certifying the monthly incomes of applicants from their respective countries.

Under the new rules, applicants for retirement visas must be 50 and up. They must either show evidence of monthly salaries of at least 65,000 baht transferred to a Thai bank account or balances of at least 800,000 baht in their Thai bank accounts.

The accounts have to bear the same names as the applicants. Spouses’ bank accounts are not eligible.

And the minimum amount of 800,000 baht must have been deposited two months before any visa application is filed, making that the mandatory balance for at least five months, plus application processing time.

Read the rest of this story from Khaosod English HERE.

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Business

Fish sauce excluded from Thailand’s proposed tax on salty foods

May Taylor

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Fish sauce excluded from Thailand’s proposed tax on salty foods | The Thaiger

PHOTO: Cook’s Illustrated

Thailand’s Excise Department and Public Health Ministry is considering a levy on salty foods in an attempt to tackle the sodium-rich diets of Thai citizens, and the health consequences.

The director general of the Excise Department, Patchara Anuntasilpa says the tax would be calculated based on the amount of salt in a product, with the proposal being sent to Finance Minister Uttama Savanayana by year end.

Fish sauce is a liquid condiment made from fish or krill that have been coated in salt and fermented for up to two years.[1][2]:234 It is used as a staple seasoning in East Asian cuisine and Southeast Asian cuisine, particularly south east Asia and Taiwan. Following widespread recognition of its ability to impart a savoury umami flavor to dishes, it has been embraced globally by chefs and home cooks.

“If the tax is approved, we will allow entrepreneurs one or two years to reduce the salt content and launch a less-salty version of their product.”

The World Health Organisation and the UN both recommend taxing foods with a high salt content, saying increased sodium intake leads to high blood pressure, cancer and kidney and heart disease.

The Nation reports however, that while the proposal is to levy the tax on frozen and canned foods, along with processed items such as instant noodles, seasoning such as fish sauce and snacks like potato chips would be excluded.

The Federation of Thai Industries has pledged to cooperate with the government’s effort to improve the health of Thailand’s citizens, but its head Wisit Limluecha says he is not in favour of taxing popular seasonings, snacks, frozen or instant foods.

“Research has found that these foods represent only 20% of what we eat each day, and everyone has different eating habits, so the better solution would be to advise consumers on how to eat healthily.”

Wisit warns that the tax may damage the country’s competitiveness in the food sector both overseas and in Thailand, where imported products are easily available. He also voices concern that small businesses will suffer if unable to afford ingredient and packaging changes.

SOURCE: The Nation

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Business

500 people own 36% of equity in Thai companies

Greeley Pulitzer

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500 people own 36% of equity in Thai companies | The Thaiger

Roughly 36% of Thailand’s corporate equity is held by just 500 people, highlighting wealth inequality in the Kingdom, according to a study released by the Bank of Thailand’s research institute.

Each of these 500 amass some 3.1 billion baht (102 million USD) per year in company profits, according to the report from the Puey Ungphakorn Institute for Economic Research. In contrast, average yearly household income in Thailand is around 10,000 USD.

A report out this week from the Economic and Business Research Centre for Reform at Thailand’s Rangsit University also pointed to divisive and polarised politics being another root cause of the economic divide.

Thailand’s private sector is dominated by tycoons running sprawling conglomerates. According to the World Bank, the gap between the mega-wealthy and the rest of the Thai population of 69 million is among the many economic challenges for Thailand. According to Bloomberg, the perception of a divide, exacerbated by an economic slowdown, is a major political fault line.

“Magnates arise in Thailand from institutional factors that privilege certain businesses,” said the executive director of PIER, author of the study.

The institute said Thailand needs to promote competitiveness to reduce profits from monopoly power and bolster entrepreneurship to create a more equitable distribution of corporate wealth.

The research is based on analysis of 2017 Commerce Ministry data on the 2.1 million shareholders in Thai firms, and was funded by the University of California San Diego.

SOURCE: Bangkok Post

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Thai Life

Thais go bananas over freak plants in pursuit of lottery numbers

The Thaiger

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Thais go bananas over freak plants in pursuit of lottery numbers | The Thaiger

PHOTOS: Daily News

The answers are in the banana leaves.

Thai people LOVE playing the lottery (and gambling generally). In fact they’re BANANAS about the twice-monthly lottery (it was drawn again today). Daily News has reported about two unusual banana trees growing in front of a shop in Klong 4 Pathum Thani, just north of Bangkok. The trees did not have blossom and on one plant two bananas were pointing skywards. On another there was a whole bunch pointing up into the sky.

There was a steady stream of the faithful lighting incense, praying and rubbing powder on the trees to get lottery numbers. One group thought ‘542’ was the magic numbers and a path to riches (we’re not sure how they came to this conclusion). 53 year old Surachai says the trees had been growing for a few months and that he’d never seen anything like it before.

An unnamed agricultural expert suggested that there was probably something wrong with the banana plants. Trees and malformed animals are a favourite source of inspiration to select numbers for the lottery, as are numbers of houses and vehicles involved in events where people experience “miracle” escapes from danger, or even bizarre accidents.

SOURCE: Daily News

Thais go bananas over freak plants in pursuit of lottery numbers | News by The Thaiger Thais go bananas over freak plants in pursuit of lottery numbers | News by The Thaiger

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