stat

The LTR visa will not get axed, they will simply increase the price by a large amount.

The Burmese will not earn enough to fall in a tax bracket...

Pls find enclosed what exactly is transmitted via CRS. There is no distinction between principal, profit etc. If you trade 100x10.000 USD CRS will show 1.000.000 in monies you have received! So at first glance Somchai from the RD will imply that you have to pay tax on 1 M USD. You will have a hard time explaining that you only transfered 120K Baht to Thailand during the year ???? crs_user_guide_2_0.pdf

I think everyone who read your post understood very well that you made the connection, glad you agree that CRS has nothing to do with new order of the RD. CRS just makes it easier to implement the new order if they were to tax all income instead of just the remitted income.

That is what you have written before: "Once again, all that is happening is that Thailand is attempting to become a fully paid up member of CRS Reporting and fall in line with international standards on taxation, it's in their best interests to do this. " It was my understanding that this was your opinion...

Please read carefully what is written in your quote (Source?) . There is no logical implication in that quote that crs has anything to do with Thailand having to tax remitted income. Pls state where exactly crs demands an amount of tax? If you cannot then pls accept the fact that CRS is about a common reporting standard as the name suggests, not about assesable income or the amount of tax. BTW I am working in a regulatory environment in financial institutions just to avoid any confusion.

Pls add a souce for your claim, my understanding is different but I could be wrong. I agree there is a risk that it could turn out that way but currently there is no indication of said happening I know of.

Your claim that this has anything to do with CRS is not correct. CRS does not force any country to tax anything. Countries that do not even have an income tax are part of crs like the bahamas. CRS is about getting information on foreigen accounts and sending the info back to the individuals residence country.

Thanks for your post! The main point for me is the difference in taxation between ROI and principal if that is correct I am off the hook. How they want to calculate this is is a mystery to me especially if you have thousands of trades in a year. I will setup a seperate account which I will be filling up with "losers" over the year and then liquidate them and then transfer the proceeds i.e. principal.

As they joined CRS they should be able to collect all those data. BTW Germany has a witholding system on capital gains so you cannot pay to little taxes on dividends in a German account.

https://www.lohi.de/news/article/zahl-der-kontenabrufe-durch-die-finanzaemter-steigt-rapide.html 1.2 million accounts got checked by the tax inspector per year. If you think the tax man still has to call a bank you lived under a rock the last 10 years, no offense.

Germany did abolish bank secrecy versus the taxman without blinking an eye. Even the swiss abolished it vs the taxman.

I hope this will be the solution all of us are looking for. I simply do not file a tax return as I have set aside money that has gathered no untaxed income. It went similiar for the loophole before as no one ever bothered to check if the money you transfered was with mixed interest or cap gains from another year or the same year...

There a lot of countries that issue international warrants and usually they are followed through without looking into the matter further by interpol. However unlikely it may be (I think it is) the risk is real and the consequences very dire, keep that in mind everyone. https://assembly.coe.int/nw/xml/XRef/Xref-XML2HTML-en.asp?fileid=23524&lang=en

Reality is you can never come back to Thailand ever + maybe they will issue an international arrest warrant and then you can never again travel outside of your own country as you face an arrest whereever you go.

Maybe they have decided to fleece the farangs once and for all as much as they can in 1 or 2 years and do not care if we never come back as they have taken in Trillions of baht by demanding tax for the last 10 years on every baht ever transmitted to Thailand. You can see the scam they pulled when raising the price of the elite visa fully knowing that the elite visa is dead when they implement the new tax order. So just create a rush before the elite visa is dead. Politicians are only concerned with the near future, never with the outcome in 3 years.

Maybe you will not be allowed to leave the country right after Somchai discovered that you potentially owe Thailand several Million THB. Easy as chips as you usually leave via an airport or an official border with an IO officer and a computer. The risk is real.

Yeah but it explains the law. So it has pratically the same effect as a law. as long as the order stands. However the pm or a court canmore easily nullify said order.

This article "only" refers to companies that have no economic activity in SG, so no change in personal income taxation in SG.

Which remains to be seen if and which part of the income will be tax exempt... That the guys from BOI state everything is "no problem" is understandable. I only trust the RD and its wording when the first year of tax returns are done and confirmed by the RD.

No one with money and a brain will take the risk that is exactly what I meant and will not stay longer then 178 days.

If you could be liable for millions of USD in taxes you simply do not take this (albeit very low) risk.

Trust me it happened in Germany several times. The law in itself is not changed but the interpretation of the law and the moment the gavel drops it is applied retrospectivly. Example: A court declared that having an empty unused appartment in Germany makes you liable to german income tax as you have a permanent abode. Even if you had not been in Germany for 10 years but had an empty appartment you had to pay up. So you had to pay taxes 11 years in arrears if you lived in Thailand like a late friend of mine. Perfectly legal in GERMANY so sure as hell it is possible in Thailand. I would also not recommend to leave Thailand with a tax debt. One diverted plane with you on board could book you a long term stay in a thai prison or some hefty tea money along with the payment of the taxes owed.

Ahem there are some expats I know making high 6 digits USD every year with investing, so those are the people that will leave after 6 months.

Thanks for this info! No way I could file a potential thai tax declaration by end of march as I get my annual tax statements from the banks between April and September.