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Everything posted by stat
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So your pension is a totally different ballgame then deciding to put NOW 750K taxed USD in a pension fund just to get an LTR. This is what I understood you recommended. PS: Thinking is never dirty as Kant used to say: Enlightenment is man's emergence from his self-imposed nonage. Nonage is the inability to use one's own understanding without another's guidance.
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So what is the internal rate of return for your pension AFTER costs, which actuarial tables did you use? Did you buy a 30 year CDS option to cover the risk that the insurance company goes bankrupt? Those pensions never make any sense to a person that is attached to his money like I am. 😉Why should I pay a company for a sub par performance result? BTW if you move to another country they will likely tax your self created pension. But to each their own .
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They cannot know all tax details in every country. They know maybe the US rules but they cannot be aware of all small details in the German tax law. My tax statement in Germany can show 0 passive income while I paid millions of EUR in taxes on dividends and capital gains in Germany (withheld at the bank). Even when receiving capital gains from abroad my final tax statement can show zero as it has been set off against losses in other years by the german IRS. There are myriads of implications and rules. My point is simply that I can never be sure that they will accept my LTR application. I understand that they are helpful and willing to learn so I hope for the best. But one cannot never tell with thos Thai visa if you will get one. Simply solution would be to just show a 1 Million and be done.
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Thanks for your post! In may case I could not show any tax return as my income is not taxable in TH as it would be non remitted capital gains. Apparently there is a lot of discretion with the application that is why I ask the people that have obtained the visa vs BOI will usually tell me the written rules is that they need/want a tax return.
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Thanks for your post! Answer from BOI read we will have to see if we can accept bank statements or need to see tax statement which obviously does not work in my case because German tax statements do not show cap gains/dividends as it is withheld at source by the bank etc. Maybe I will be travelling the whole year in order to not pay tax or live in Thailand on OA visa without remitting funds so again no tax statement.
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I saw a document stating explicitly that losses will not be recognized. That did not make sense to me now and then but I fear for the worst, that they only want to tax your gains. Make sure you only transmit the loss making transactions and you should be fine. I highly doubt (99.9999%) that you could make the claim for a higher value end of 2023 without having actually sold the UK property.
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One should absolutely have a paper trail at any cost agreed. I was referring to one of our statement that the tax guide gives answers for conmingled accounts which it cannot. Your tax asseasable income could range from 0 to 100% if Lifo or Fifo are used. Example I have 1 M USD savings in Dec 2023, if Lifo is used I could transfer up to 1 M USD in 2024 or later without having any asseasable income. If Fifo is used and I have 100K new income in 2024 the whole 100K would be asseasble. That is why I stated the whole subject is wide open.
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Great example. It highlights another major problem all of us could face. Maybe they do not enforce the new directive in 2024 but in 2025 or 2026 they do. No one will know before the TRD sends you a letter after the tax year has passed stating you have to pay big time, which brings me back to my point of several layers of insulation or protection from this clusterpha...
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That is what I expected: Ask 2 lawyers get 3 different answers. This will be a whole new level <deleted>show if TRD decides to follow through (big if but only my gut feeling). It shows one thing. be prepared for the worst and have several layers of insulation if push comes to shove. Everything we discuss here can only be used to have as many layers of insulation as possible (Gifts, creditcard usage, remittances of money earned before 2024 etc)- Godspeed to all of us!
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Can you recommend an agency that does that? I am currently not in Thailand nor did I have interest from a thai bank account but I need a tax certificate from TH (TIN also needed for tax certificate). It is my understanding that I can opt to pay voluntarily a token amount and get a tax certificate. Why TH is not willing to issue a tax certificate (without having paid taxes) stating Mr. X has lived for more then 180 days in TH and is therefore a tax resident is beyond me.