RupertIII

I have a GBP a/c with BKK Bank and on a couple of occasions have transfered GBP to my UK health insurance company without having to convert first to THB. However this has to be done in person at either at the branch you opened the a/c at or HO. I was hoping to be able to transfer direct from my online a/c but I would then, so I was told, have to convert first into THB.

Below copied from one of the regular e-mails I receive from the FT:- The last time a smartphone factory opened in the US, it closed within a year. In 2013, Motorola announced it wanted to challenge the conventional wisdom that manufacturing in the US was too expensive. But 12 months later, the facility in Fort Worth, Texas, was shut down because of disappointing sales and high costs. If Donald Trump has his way, Apple will be the next tech company to test the theory. The Trump administration wants the smartphone giant to have the iPhone manufactured in America instead of China, where most of them are currently made. “Remember the army of millions and millions of human beings screwing in little screws to make iPhones?” commerce secretary Howard Lutnick said in early April. “That kind of thing is going to come to America.” Supply chain experts believe that the Trump project would face the same problems as Motorola — indeed, some predict an iPhone could cost as much as $3,500 if fully assembled in the US.

This article covers it in greater scope and also confirms that this will apply to tax resident foreigners. https://www.thaiexaminer.com/thai-news-foreigners/2025/05/19/thai-revenue-planning-new-decree-making-remitted-foreign-funds-within-one-year-tax-free-for-residents/

Looks as if that could be on the way https://www.thaiexaminer.com/thai-news-foreigners/2025/03/20/new-alcohol-law-which-ushers-in-a-new-liberal-era-allowing-for-advertising-and-lifting-drinking-bans/

Am I correct in assuming that an offshore investment, equities, sold in 23, transferred to Wise in the UK and then remitted to Thailand in 24 is not assessable?

What is the problem, why do you require this confirmation? The only reason I can think of is for Thai tax purposes, if so I would think the the TRD should by fully aware that UK state pensions do not increase in Thailand, if not they should be.

I recall reading on AN that in Court it was proven that it was against Thai law based on discrimination by nationality (I believe this is also against international law) but the judgement was that as he was a foreigner he could afford the inflated price plus it was to Thailand's benefit. Thai justice!

A few yeas back I was referred by my hospital to another hospital for a test. My wife Thai phoned the second hospital asking for a price without mentioning who it was for, quoted THB15,000. At the hospital waiting room a nurse approached us just to let me know the cost is THB25000! I think after a lot of haggling and toing and froing by the nurse I believe it did come down somewhat although with all the other bits they manage to add on not sure how much I actually paid for the test.

Thanks for that. It was, I think, Mike Lister in one of the forums stated that expenses of up to 50%, subject to a max 100K, could be deducted against income which, at the time, I took to include pension income. However the above booklet quotes:- The amount of personal expenses that may be deducted depends on the category of assessable income, as follows: • Income under the above categories of assessable income (1) and (2), including goodwill, copyright and other rights under (3), a deduction of 50% is allowed subject to a maximum of Baht 100,000. • Income under (5), the rates of deduction vary from 10% to 30% depending on the type of rented property. • Income under (6), (7) and (8), the rates of deduction vary from 30% to 60% depending on the type of income or type of business. Income under categories 1, 2, and 3 are listed as:- Assessable income is classified into eight categories: 1. Salaries and wages (including income from stock options, house rent allowance and other fringe benefits) 2. Hire of work, office of employment or service rendered 3. Goodwill, copyright, franchise, patent, other rights, annuity, etc. Could any of these be interpreted as pension, possibly other fringe benefits? I am wondering if anyone has ever been put this to the test by previously successfully submitting a return including this expense deduction in respect of pension income?

Thailand's desire for an FTA with the EAEU and increased trade with Russia, as reported in today's BP, isn't likely to help or have they now given up on an FTA with the EU?

I assume this refers only to realised capital gains, not unrealised.

Based on the UK IHT I would say only once to the entire estate. IHT is levied against the deceased's Estate not each individual inheritor. However this is purely my personal opinion and you may wish to take further legal advice.

Thanks Richard, as my handwriting is also awful nowadays was going to use the computer to complete all passport forms so lucky for me you mentioned this!

Looking at the form for completion to pay for passport renewal it strikes me as having quite a serious security issue. It requires, amongst other info, the 3 digit security number as shown on the reverse side of the card, Anyone with access to this info could use it to clear out the a/c and having divulged the CVV number I can't imagine the bank being particularly sympathetic. Anyone had any previous issues with this? Does anyone know if VHS Global Bangkok can offer a more secure method of payment or will they accept cash? Failing which I suppose the only answer is to transfer out the balance of the a/c apart from whatever the required passport fee is and then, after it the fee has been deducted, go through the hassle and cost of replacing the card. Thanks.

That would appear to be correct, see below. My wife queried this when she was at the tax office earlier this year and they appeared to confirm and asked if there was documentary evidence to support. The Inheritance Tax Act B.E. 2558 (2015) (“ITA”) took effect on 1st of February 2016. It stipulates the following: 1. Inheritance Tax a. Tax Base The inheritance tax base shall be calculated from the inheritance, which an inheritor received from each testator, whether it is received once or several times, above 100 Million THB. (Section 12, ITA). The value of the inheritance subject to tax means the value of the asset received as an inheritance offset by the liabilities inherited. The tax is levied on inheritors who are: 1. Thai individuals or Thai juristic persons or foreign individuals who are resident in Thailand according to the immigration law, which inheriting assets located in Thailand and outside the country. 2. Foreign individuals or foreign juristic persons, which inherit assets located in Thailand. (Section 11, ITA) The spouse of the testator is exempted from inheritance tax. (Section 3(2), ITA) Foreigners who are resident in Thailand, shall be liable to pay Inheritance Tax in the portion which exceed 100 million THB, calculated from the inherited assets in Thailand and foreign countries. Foreigner who are non-resident in Thailand, shall be liable to pay Inheritance Tax in the portion which exceed 100 million THB, calculated from only inheriting asset in Thailand. The inheritance tax rate is 10%, except in the case of heirs who are ascendants or descendants of the testator, where the rate is 5%. Legacies received by the spouse of a testator are exempt from the tax. The inheritance tax applies to registered assets, including residential properties, land, vehicles, bonds, equities, and deposits at financial institutions. (Section 14, ITA)