gamb00ler

He's gettin' old.... lies do take their toll.

The issue may be due to translation. I'm sure the original decision was published in Thai.

Most modern tax regimes implement the self reporting method for some of the details about a taxpayer's income. Thailand will probably do the same. The TRD may choose to do a closer examination of certain tax filings based on income level, income source and other factors. If your tax filing raises some red flags you may need to provide the detailed documentation to substantiate your self assessment.

Her picture looks like it is AS* generated! * artificial stupidity

That fact has absolutely no bearing on whether he did or not. Try again.

Are you not using a browser to access these Thai sites? AFAIK, browsers that run on Apple are extremely compliant with the same standards for browsers that run on Windows. I also run only Apple... but in 8 years I never have yet found a Thai website that I cannot access using one of the three browsers (Brave,Chrome&Safari).

I do not think it means what you think it means.... Inigo Montoya

If you have a good idea of how much you spend per month you can produce an estimate of how much remittance you will need for a whole year. That together with the TEDA, income exemptions due to DTA, etc. you should be able to calculate a good approximation or your Thai tax bill. Then you can decide if the hoops you'll be jumping through instead of paying the tax is worthwhile.

LH Bank has the biggest spread between buy & sell exchange rates of the major Thai banks.... about 2% compared to .8% for Bangkok and SCB banks. I think if you wired LHBank funds in US$ and you didn't need to change to ฿ on maturity you could save that 2%. As for the 15% withholding from interest, other Thai banks have stopped it when I gave them my Thai tax ID. If a bank won't stop the withholding you can easily get all the withholdings refunded if you have little taxable income and take the time to file taxes.

.... not to mention the audits I have to endure as well.

Well.... since TRD doesn't use the term savings to refer to any funds belonging to a taxpayer, we are free to use it as we please. In our discussions we need a term for funds that TRD no longer cares about and holds no sway over (all taxes due to TRD have been paid). I think it's just fine if we call those savings

@sometimewoodworker It seems you have an issue with the use of the word savings to describe the funds remaining after taxation has been applied. That's unfortunate because that is the terminology that has been used throughout these taxation threads. I don't talk to any tax accountants so I don't know if it is the appropriate terminology but it seems most posters agree with it's use and meaning. It's crucial to remember that there are two (or more) taxing authorities that will have different views of how the same funds are allocated between income and savings. The relevant DTA's play a significant role in determining how a taxing authority applies the terms income and savings.

@sometimewoodworker Your understanding of the issues discussed in these tax threads has somehow become distorted. Savings (as used in these threads) are the portion of income left after you and the government come to an understanding of what you owe them. By paying the tax, you completely remove the government's shadow from those funds and you can spend, invest or save them however you wish. Those funds become the taxpayer's savings. In the taxpayer's view those remaining funds are net income. But, in these threads we use the word income from the viewpoint of the taxing authority... not the taxpayer. From the TRD's point of view, the taxpayer's net income is savings and thus beyond their reach. In my post I said: If TRD only gets second dibs on those funds it is forced to accept that USA's taxation has in part or in whole converted your income to savings. In the situation my comments describe, TRD will not be getting any tax revenue on some part (or perhaps any) of the funds where the US has primary (first dibs) taxing authority. TRD can try to tax those funds but the US taxpayer can use a tax credit to reduce or eliminate TRD's claimed tax (as per the DTA). Thus in effect those already taxed funds are now the taxpayer's savings as far as TRD is concerned. If TRD's claimed tax is greater than the US tax already paid, they will of course be entitled to collect that amount.

Are you trying to hide your true location? Try and connect to a different VPN endpoint. If you use a VPN the IP address that the server sees is that of the VPN provider's server not the IP address of your laptop. If you change the endpoint of the VPN the Thai air server will see a different IP address. I think some companies deny access to their servers if you are using a VPN.

@sometimewoodworker in the context of the Jim's message the distinction between income and savings is very clear. I continued using the same point of reference in my post. Savings is just after tax income. I think most posters in these tax threads understand that.

There is of course a huge variance in the quality of YTube content. My favorite seems to provide a very even handed analysis of nutritional trials published. He sells nothing and accepts no sponsorship. He does make income from monetizing his YTube content. https://www.youtube.com/watch?v=-xTaAHSFHUU

I have watched a couple of YTube's about how to make parabolic mirrors. Also there are several YTube's about solar ovens. I remember one YTuber had developed a simple method of adjusting the orientation his parabolic mirror to keep the temperature at the focal point at the maximum. Your loyal following on AN just can't provide the answers to your atypical questions that YTube can.

Here's how I analyze the issue of converting your US based income into savings. If there was no DTA with USA, I don't think TRD would be influenced by or take into consideration what happens between you and the IRS regarding taxation or exemption from taxation. They would just simply apply their definitions of income and savings and then calculate the tax. That TRD process would convert your US income into savings as far as Thailand is concerned. But... there is a DTA and that is why TRD now acknowledges that you may have been taxed on your income by the USA and that TRD's position in the taxation pecking order is defined by the treaty. If TRD only gets second dibs on those funds it is forced to accept that USA's taxation has in part or in whole converted your income to savings. If TRD gets first dibs then they simply apply their rules and definitions as they would with no treaty in place. So.... I would simplify the above and say that the DTA is what determines when and how your income is converted to savings.

I gave SSA my Thai address but my benefit is deposited into a US bank. I just received, signed and returned the 7162 form. SSA will certainly stop the benefits eventually if I don’t return the form . It is the recipient’s address that SSA has on file that triggers the 7162 mailing.

Rimping stocks 2 kinds of natural peanut butter. I buy the Tida's Bears brand as it's very similar in texture and taste to Adam's (USA brand). Only peanuts and a bit of salt. It's available in crunchy or smooth. The smooth is not as smooth as Skippy or those other junk brands. Those PB's are sold in 1Kg plastic bags and are usually on the very bottom shelf in the cereal aisle. Tida's is made in Thailand. It is a healthier product and is much better and much cheaper than Skippy.

An interesting article that should help inform readers of how to control their A/C expense. It's a "gift" article that I can share as a subscriber to the Washington Post.... that's why the link is not directly to washingtonpost.com. https://wapo.st/3S7oIiZ The above link may not work for 100's of views so I'm including the original link as well: https://www.washingtonpost.com/climate-solutions/2024/07/12/air-conditioning-efficiency-heat/

If you open your eyes and look around Thailand, your mystification issue will soon disappear. Perhaps an appointment at an optometrist will help.

With a more comprehensive analysis it is quite reasonable to conclude that inaction can cause more harm than performing an imperfect action that has a preponderance of evidence showing good outcomes.

In a related matter..... It is license renewal time. Besides the ID page, the DLT wanted copies of my initial entry stamp using my non-immigrant O Visa from 2020 and my current extension stamp. I wonder what they'll do at my next renewal when I will have a new passport and the visa and initial entry stamp aren't available. 😳

The SSA extended the International Direct Deposit (IDD) method to Thailand a few years ago. It is now possible to have your SSA benefits sent directly to a "normal" savings account at other Thai banks. I have heard that the other Thai banks do allow transactions via ATM/debit cards and smartphone apps. Both BBL and your local Thai Immigration are being overly restrictive it seems. Here's the form you need to fill in and send to FBU Manila: https://www.ssa.gov/forms/ssa-1199-op107.pdf I would suggest you fill out your portion of the above form and take it with you when you open a new account at a different Thai bank. Good luck!