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Everything posted by stat
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This a concept 90% of the folks do not understand 😉 Congrats and thanks for the info!
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Citibank ATMs in Bangkok?
stat replied to david_je's topic in Jobs, Economy, Banking, Business, Investments
I can confirm that counter withdrawal works with BKK Bank and Krungsri (Only MC free of charge). Check with cc company if they add a fee for counter withdrawal, in my case there was no additional charge. -
I see eye to eye with Ben here, there is at least the risk that ww income could become taxable if not remitted for LTR holders if ww taxation came into place. As usual there will be no explanation or warning from BOI or TRD for the LTR visa holders and they COULD start enforcing years after ww taxation comes into place and then go back several years.
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The problem is that the main idea to have an LTR for me is to not pay tax. But in order to get an LTR I should pay tax in another country (need for tax statement) while I do not have to pay taxes if I do not realize the cap gains in the first place. In my case I can cross the threshold just with dividends but again they do not show on a tax statement because it is either withholding tax or dealt by the (German) banks directly.
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Thanks for your post! There will be no pension and no pension letter in my case just passive income in the form of dividends and cap gains. I can trigger cap gains whenever I want just by selling some positions hence my idea of showing the last 12 months with 2 months of 80K plus income and the other months like 8K a month. There more I think about it they would not let even Elon Musk get a wealthy pensioner LTR, as he has no pension and no steady income stream. 🙂
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While I hate statist government you are wrong on this one. Actually the government workers are worse off because their pension is taxed in their home country which usually has higher taxes then TH. The main concern was to keep as much tax in the home country while drafting the DTA. Example Germany: Pensioner living in TH would be tax tax free (if not remitted or no one cares even if remitted) but as GER reserves the right to tax the pension the pernsioner pays the very high German tax. Ergo Pensioner are worse off but the (home) state is better off.
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Thanks for the replies! I cannot provide an income tax return as cap gains in General do not turn up on tax statements in Germany as they are handled directly by the bank. In addition the idea is to not pay taxes on cap gains and either being in TH or an other country without cap gains when cap gains arise 😉 But as always this is Thailand. Even when in TH for 2 years before applying one cannot provide the needed docs for LTR in the case of cap gains as those gains are currently not taxable when not transmitted 🙂
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Did someone manage to get an LTR with the following documents and timeline Nov-Dec old year: Proof of passive income 80K capital gains from brokerage Jan-Feb next year: Proof of passive income 80K capital gains from brokerage and then applied in March for an LTR? I know they do not really like capital gains but for all I understand they are likely to accept it. There will be no tax return docs in this timeline. Thanks!
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You still have to pay German withholding tax on German dividend income in the form of 26.375% instead of 15% if you have a tax certificate. The withholding tax even applies if you never in your life sat foot into Germany. The US simply accepts the w8 Ben form and you get the 15% rate. But Germany being the tax <deleted>show it is, they want a tax certificate otherwise you pay 26.375%. The reimbursement process take 2-4 years to top it off. That is why I want the tax certificate. Maybe there will be some improvements in the future regarding the issuance of TINs (online?) and tax certificates.
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Thanks for your answer! Same here, my tax liability is zero for the year but I need the damm tax certificate. I can prove the 180 days in Thailand via 90 day reports and my passport. The German IRS demands a tax certificate and does not accept to my understanding the passport stamps. This is what is written in the german tax law to my understanding. However I am not sure if there is no other way to get Germany to accept my tax residence in TH as TRD makes such a fuss about a simple statement that I was longer then 180 days in TH. All the tax agencies I contacted make a big fuss about the fact that I should prove that the amount I transfered is income etc and are not willing to accept so far a simple statement that it is pure income. Cost for this tax certificate 35.000 Baht and above and I am not even sure they manage to obtain it in the end and even if get it it is not certain that I get the tax rebate from German IRS. NB: I am not in TH, otherwise I could handle all the stuff myself I suppose. It is my understanding that I can hand in a thai tax declaration 3 years later i.e. March 2026 latest.