H AVE you paid your income tax yet? If not, you're in a spot of bother. According
to the tax office, most everyone - foreigners included - owe income tax under
the new financial law.
Foreigners and locals alike are now subject to
income tax - five percent on a monthly salary starting at $300 and up to $400;
ten percent up to $4000; and 20 percent on a monthly income of $4001 and
above.
The tax office says the new tax regime started from January, so
therefore people owe for January, February and March.
However, the Post
analysis shows a two month moratorium existed since the law was passed in
December; even so, everyone owes taxes for March onwards.
Politicians,
however, will not have to pay; neither will civil servants, according to a
senior official from the tax department who would not be named.
For those
who have not yet started paying tax - and the official said it was up to
employers to register all their salaried workers - the tax department will be
tracking people down.
And there will be punishments: fines, and even
confiscation of personal goods to the value of the debt "to those who repeatedly
refuse to pay their taxes," the official said.
Taxes will have to be paid
by the 15th day of the following month "at the latest," he said.
Tax
collectors - who are never usually the world's most popular people - will also
have a unusual new weapon to use: they can ask your bank, investment company or
trustee to give them your money to pay outstanding taxes.
The good news?
Well... the taxes are cheaper than in Vietnam and Thailand, and probably cheaper
than your own home country too.
