KhunHeineken

Many countries are broke, including mine. Thailand is no different. All of these countries are chasing every bit of of revenue they can get, from everywhere, and from everyone. This is an easy money earner for them, especially if the simple pathway of enforcement is attaching it to the annual extension, and no votes lost at election time. You are asking, "Why would they chase it?" Perhaps you should be asking, "Why wouldn't they chase it?"

Tax is a federal or country wide policy, the same as immigration. We all know immigration is manipulated across Thailand, but tax might be a different thing. I'm not sure if this policy will allow for provincial "discretion."

Probably not, but I would be trading her in anyway.

Can you elaborate on your experience?

Ok, but why is just one bank doing it, and not even Thailand's biggest bank?

As I posted in another thread touting the same youtube video, what he doesn't understand is, detecting and arresting foreigners for breaching Thai labor laws costs money. Taxing foreigners makes money. Big difference.

I have my annual fee set to auto charge. It comes out of the account automatically.

I agree. For hose looking to set up their retirement here, come over, transfer a lump sum of money. Buy your condo, buy your furnishings, buy your cars, but leave on day 179 and don't come back for 6 months. Sounds crazy, but why risk paying this tax for he sake of staying out for just 6 months?

Incorrect. I'll explain my reason. Using an agent makes money for the agent and a corrupt payment for immigration. It's been going on for decades. Usually the agent has some family connection who works at immigration. I have already sourced an agent for this tax policy, but still shopping around for another agent. I haven't pulled the trigger yet. I'll wait until the 11th hour to file. Throughout 2024 I minimized my remittances. I also brought back wad of cash from the Singapore F1, and a friend coming here for a holiday also bought over a wad of cash for me. I know I'll have to pay "something." As I have said in the past, Thailand will get me this year. I threw my hands up. I stayed more than 180 days last year. Based on the cost, legit or otherwise, will determine if I continue being a tax resident of Thailand, or cease my tax residency by only staying 179 days this year. If none of it happens, than nothing to pay, carry on as normal, great. If they are serious about it, they'll get me this year, but then I will know where I stand and will make plans accordingly.

Give it time. You can hold me to it. I will gladly say I was wrong in the future, but in my opinion, if all this goes through, attaching tax compliance to immigration / visas / extensions is the logical thing for the Thai government will do. Time will tell.

The Thai banks know. Don't be so naive.

You are correct, but unlike so many others here, for me, Thailand is not the be all and end all. I like Vietnam as well. Should we talk about using Thai nominees to own a property???? How many are rolling that dice? Maybe let's leave that "dice." If they make changes that sees my living in Thailand untenable, I'll switch to tourist visas for 179 days a year. No tax exposure. No immigration exposure. I'm just a tourist. Total tax and immigration freedom. What's the downside????????

Whilst there is some truth to your statement, I'm single, rent, don't sent money for sick buffalo, didn't move 800k to a 3rd World Country bank and use an agent. I have nothing I can't leave within hours and head straight to the airport and never come back, should I need to or want to. This is by design. My losses would be a secondhand motor bike, and a good entertainment system. Both I could sell to friends over some phone calls. I make Thailand work for me, not me, or my money, working for Thailand. As I have said in the past, I show Thailand as much loyalty as Thailand shows me - zero. Thailand does not even offer a reasonable pathway to permanent residency, so what's that say about them wanting farang here? As mentioned above. I'm single. I have not dug a hole for myself here. Yes, farang puppets, dangling on their Thai master's stings. Not for me. Drawing maps and taking photos of each other in the bedroom. Treated lower than a soi dog. This guy would have got less time for killing a farang. https://www.bangkokpost.com/thailand/general/2938700/extra-prison-time-for-policeman-who-killed-beloved-campus-dog

That's my understand, and as an experienced diver, I would have expected this guy to abort the dive and recheck equipment. Once again, I am not saying that's what happened in this case, just saying, I would not be surprised if the practice happened. I accept this, but the question remains, is it possible tanks are under filled? That's a yes or no answer. Perhaps it's a money spinning idea. Less air in tanks, shorter dives, more divers / dives in a day. MONEY NUMBER ONE here. I addressed this above. I didn't post it first. I just said it would not surprise me, and gave other examples of the many deaths that occur in Thailand for similar reasons. It's not always the blind drunk backpacker on a motor scooter speeding that crashes and dies. In many cases, and I have named a few, and you can check them out, the Thai's are to blame.

Yes, and stay safe out there.

Nothing happens here that "tarnishes" Thailand's tourism industry. It's always the tourist's fault. How can you say it didn't happen in this case? Were you there? Young diver, going for a dive, throws a tank on, tank SHOULD be full, gauge says down a bit. Assumes gauge is inaccurate, continues with the dive regardless. Recipe for disaster. Not saying that's what happened in this case, but you can't say the tanks here are ALWAYS full, can you?

Yeah, yeah, tell the TRD / Immigration that. This has been debated over and over and over. The TRD don't know one's funds are "exempt" unless you declare to them they are. Yes, let's just say that. Handy for the Thai's to manipulate, right? Just the way they like it. Once again, you, and others, are relying on Thailand to get it 100% up to date, correct, accurate, modern, efficient etc etc. The fact that it's not seems to be the excuse you will use and then I have a feeling they will say. GOTCHA, and screw you, but that's just my opinion. I'll file, declare, pay or no pay, get my piece of paper for doing so, and sleep well. Depending on the "pay" will determine the amount of time I stay in Thailand each year in the future. Do nothing because the forms don't have this or have that, assssable, non assessable, pre 2024 savings, blah, blah, blah, you roll the dice. True, and your point is?

What a strange video. He basically says, because Thailand doesn't bother enforcing their labor laws, they will also not bother enforcing their tax laws, so no need to worry about anything, no tax to pay. Well, enforcing labor laws costs money, and enforcing tax laws makes money. Yes, yes, I know, I know, rocket science.

I agree with your assessment, but it's on record that the Minster has been tasked with expanding Thailand's tax base. That means, tax residents and income earners. Add into that those remitting funds, both Thai and foreigners, and anyone else they can scoop up in the net, including companies. I would think 75% may not be far from the mark. Many here are living pension day to pension day. Thus, not pre 2024 "savings." The numbers have been crunched by members here and most pensions from developed nations exceed the threshold here, so pensioners will have some tax to pay, if they move all of their pension to Thailand each month. When news of this tax policy broke, everyone viewed it differently, because we are all individuals. It's just in my nature to look straight to collection and enforcement, but particularly enforcement. I tried to discuss it back then, but had many posts deleted as "scaremongering." I was one of the first to put forward enforcement will be attached to visas / extensions. I maintain that stance today. If not in 2025, in the future at some point. You are correct, it's been there in the past, but the Thai government has not decided to tap this previously untapped revenue stream until now. As I have said, a tax policy without collection and enforcement is no tax policy at all. Interesting times ahead.

I'm quite sure you just can't "tell" them, you have to prove it to them with documents. I accept this, but not everyone may have a diversified portfolio. Would one really restructure, possibly at some cost, their portfolio just to maintain some privacy from the Thai government? I agree. I simply opted for the retirement / extension route, via an agent. No 800k in a 3rd World Country bank, no dealing with immigration and the associated paperwork and running around and waiting in queues. As I have said, with the 800k invested in my home country at more than 5%, the interest more than pays for the agent, but I do laugh at expats who proudly claim their extension only costs 1900 baht. They don't factor in the lost interest, not to mention the all the running around and waiting around.

The writing is on the wall. You called it "unprovable conspiracy theory claptrap." How wrong you were. How embarrassing for you.

It's funny how expats are meticulous when it comes to their reporting and extensions, yet it appears many are not taking this tax seriously. Most expats abide by Thai laws, yet it appears many are contemplating pushing the boundaries of Thai tax law at best, and breaking Thai tax law at worse. I see this Thai tax law as akin to a Thai visa / extension. You just jump through some hoops and pay, otherwise, there are consequences. The "I'll do nothing" crowd is interesting, but each to their own.

Yes, and that is my plan, should it happen. 179 days in Thailand, 179 days in Vietnam, 7 days in Singapore for the Formula 1. Still, world wide income is an issue.

Wow. How out of touch are you???????? Do you even know what "CBDC" is? (Central Bank Digital Currency) It's all over the net. Educate yourself. Here's just a few from the first page of a Google search. https://www.investopedia.com/terms/c/central-bank-digital-currency-cbdc.asp https://www.bankofengland.co.uk/the-digital-pound https://www.federalreserve.gov/cbdc-faqs.htm https://theconversation.com/will-digital-currencies-become-the-norm-as-the-world-moves-towards-a-cashless-society-233069 https://www.ft.com/partnercontent/ripple/the-new-money-why-governments-are-taking-their-currencies-digital.html

Do you deny it happens? Don't get me wrong. It's all theatrics, portraying "anger" so as to demand more money out of the farang. I've seen it many times.