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CRS data is aggregated data and cannot be matched with remitted money. Example trading 1000x10000 USD (Profit and loss is not part of CRS) shows as 10 Million USD revenue in CRS data. No way to guess how much was remitted or much is profit etc.

O&G ? Always thought I was the only one who was a Thailand resident because of some favorable rules. ???? Everyone I know thinks I go to Thailand for the girls , ladyboys etc if only they knew ????

Friendly does not equate to competent.... Fully agree with newnative. My guess would be any other tax office then Pattaya or Bangkok is in the dark.

I assume you went to a small tax office in the sticks? They will not have a clue about anything. Another thing is however if they can make up their rules in your place and you have to follow them.

Because some members make 1 Mio USD per year in income and that COULD amount to over 250.000 USD in taxes per year if remitted or if another order changes the order to all income instead of just remitted income. And please do not answer with "you are still left with 750K per year". People who earn that much earn that much very often because they care about every penny.

Sure as hell yes... and then repeat

Tax is supposed to pay for the 10K digital wallet. Dream on that any of this money will pe put in the infrastructure. Reminds me of german politicians that want more tax all the time for digitalisation and then demand that you send everything in written and signed paper. Being German I know exactly what socialism is about as Germay had 2! socialist societies in the last 100 years and both did not work out well. Thanks to our US brothers who liberated Germany and then protected Germany from GDR and communist russia on their tax dollars, talking of a freeride there it is.

Again wrong. The law is the same, just the interpretation changed. Even that happened several times in a country like Germany where a court decision changed the interpretation of tax laws. Here it is even simpler as most people will have transmitted monies they have made as income in the same year and therefore have been taxable even under the old rule.

CRS does not include transactional data. It entails sums of monies in accounts like max account balance,current account balance and interest received etc. It does NOT include how much you spend in Thailand vs how much you spend elsewhere. However Visa Thailand COULD be made to deliver the data (unlikely in the next years).

Then live in those countries in the west and pay the tax and stop promoting socialism in other countries. Enough countries in the world that have IMHO a better approach to taxation then the european countries.

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.