
KhunHeineken
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ATM fees or Pay tax
KhunHeineken replied to EVENKEEL's topic in Jobs, Economy, Banking, Business, Investments
What country is that? Why do you say "little return?" Many expats remit millions of baht a year. What about those buying a property here. That's a nice one off earner for the TRD, same with those moving the 800k for a retirement visa, or buying a car. Over hundreds of thousands of expats, all over Thailand, it's a new revenue stream. -
ATM fees or Pay tax
KhunHeineken replied to EVENKEEL's topic in Jobs, Economy, Banking, Business, Investments
They said that about cannabis as well. I remember one member banging on about how they would never legalize cannabis, even after they passed the laws legalizing it. You say 99% it will never happen, yet, it's actually happening as of this moment. You are betting on Thailand not having the infrastructure to handle collection and enforcement, but bureaucracy expands to cater for the ever increasing bureaucracy. -
ATM fees or Pay tax
KhunHeineken replied to EVENKEEL's topic in Jobs, Economy, Banking, Business, Investments
Those neighboring countries will eventually come online with the global tax system. This is not just a Thailand thing, it's global. Vietnam seems to be a popular choice for those looking to stay outside of Thailand for 6 months of the year, but they have similar laws. They are just not enforcing them YET, but give it time. https://www.vietnam-briefing.com/doing-business-guide/vietnam/taxation-and-accounting/individual-income-tax "A tax resident is defined as someone residing in Vietnam for 183 days or more in either the calendar year or a period of 12 consecutive months from the date of arrival. Tax residents are subject to PIT on their worldwide employment income, regardless of where the income is paid or earned, at progressive rates from five percent (5%) to a maximum of thirty five percent (35%)." I am considering 179 days in Thailand, 182 days in Vietnam, and the few days difference in Singapore for the F1. I am staying the full tax year in 2024, so they will get me for this year. If I feel it's a rip off, they will only get me once, because I will implement the above plan. -
Can you show me where in the DTA between Australia and Thailand is says "Thailand has no authority to collect tax?" Here's the DTA. https://www.rd.go.th/fileadmin/download/nation/australia_e.pdf Article 1: "Personal Scope" - This agreement shall apply to persons who are residents of one or both of the contracting states. Article 2: "Taxes Covered" - 1) The existing taxes to which this agreement applies are: a) in the case of Thailand - 1) income tax. b) in the case of Australia - 1) income tax. Etc, Etc, Etc. It appears to me the DTA between Australia and Thailand DOES give authority for Thailand to collect tax.
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ATM fees or Pay tax
KhunHeineken replied to EVENKEEL's topic in Jobs, Economy, Banking, Business, Investments
I think you will be in for a shock in 2025. Have you ever known the Thai's to let a baht slip through their hands? -
ATM fees or Pay tax
KhunHeineken replied to EVENKEEL's topic in Jobs, Economy, Banking, Business, Investments
I tend to disagree with you because I would think it's a lot easier using an ATM than dealing with Thai Revenue Department authorities. We just don't know how much of a head <deleted> this is going to be until early 2025, so I don't blame people for using an ATM in order to sit back and wait to see how all of this unfolds. Flying under the radar here is what many try to do, thus minimizing any and all dealings with Thai officialdom, and I don't see this tax as anything different. If you can stay outside of the Thai tax system, for me, that's preferable to being inside the Thai tax system. However, as I mentioned in another post, for those topping up their 800k, or those using the 65k a month method, they are going to need a paper trail of remittance, thus, some tax to pay, or, pay an agent. -
Good post. I think you will find many countries will be jumping on the "world wide income tax" band wagon in the future. There will be no where for anyone, or their money, to hide. The countries you mention are behind, and I have no problem with people moving to these countries to avail themselves of tax free living until they implement the same as Thailand. Even 3rd World Countries will be forced into the global income tax system. It's just different countries are on different time frames. Times are changing. Mass surveillance is not just on individuals, but also their money. Governments all around the world are broke. They will be chasing every dollar of tax they can get, and for generations to come.
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Your figures caught my attention. I am not sure if this has been discussed before, but for people using the 65k baht per month method for their retirement visa / extension, that's 65,000 baht x 12 months = 780,000 baht per year. This amount must be remitted and proven to immigration. Of course, one may have 800k baht in a Thai bank, or use an agent, but doing it the legal way on monthly deposits of 65,000 baht, at 780,000 baht a year, that would see a tax liability, albeit, a small liability, but unfortunately drawing one into the bureaucracy of the Thai tax system.
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If the day ever comes when Vietnam offers a similar retirement visa to Thailand, there will be a mass exodus from Thailand.
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History shows you can not crush religious ideology, nor can you crush political ideology. On that basis, you can invade and occupy, but not conquer. We have seen this in recent history.
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Same when their bank account is low - ANY man with some money will do.
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True, but like I said in a post to Mike, perhaps start with "baby steps" for members who are trying to navigate through the information about this tax/s. There are some difficult decisions coming up for many expats in the near future. Basically, Thailand may no longer be a value for money retirement destination, and there is a very real possibility some may have to seek out another country in which to reside in for their twighlight years.
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I get what you are saying, Mike, but it's "baby steps" for many on this forum. Let's just start with the basics and progress from there. I know from another thread many are / were under the belief that if their money was taxed in one country, it can't be taxed in another country, which is not correct.
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My understanding is a DTA ensures money is not taxed twice. A DTA sets out which country has primary taxing rights, and which country must give tax credits to the funds that have already been taxed. This is a short 9 minute youtube clip that explains the "myth" that if money is taxed in one country, it can not be taxed in another country.
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Whilst I'm no Musk or Bezos, or a Saudi prince, I don't consider 17,000 baht a lot of money. I see it as another member said, "near zero tax to pay." That said, I do take your point, and I did mention it myself, that small money out of small money could impact the lifestyle of some here. None of what you have posted accounts for a DTA, amongst other this as well. Has the Thai authorities stated how they will process a foreigner's tax affairs in relation to EVERY expat from EVERY country that Thailand has a DTA with? What you have posted is the law in its simplicity. It goes a lot deeper than the five points you posted, for many expats.
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You've done the things I initially would have suggested. Have you tried restarting the computer after installation and then trying to launch the browser? You never know, it could work. Edit: the member BigStar beat me to it.
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Aussies to now enter China visa free
KhunHeineken replied to Pattaya57's topic in Australia & Oceania Topics and Events
It's free for the Thai girlfriend/wife because the Aussie boyfriend/husband pays for everything. -
I disagree. Firstly, many expats remit a significant amount of money into Thailand every year, for a variety of reasons. No every expat here is living off a meager government aged pension. For those who are, you are correct, they will have little tax to pay, but I question whether they are the "vast majority." In any case, even "near zero tax to pay" out of not much money in the first place is going to have an impact on lifestyle in some way. As for the laws only targeting "wealthy Thai's" that's incorrect. It target everyone, it's just some will have to pay more than others. There's no exemption for foreigners. Do you have any advice for the next generation of retiring expat coming through who has to remit to Thailand considerable funds to set up their retirement here? Eg. purchase a property, a car, 800k for the retirement visa etc? I agree. However, information has not been forthcoming from Thai authorities on how a foreigner can remain legal here, in regard to one's tax liability. We all know Thailand likes to use the "grey area" in laws, and I see these laws as no different, but for sure Thailand will not miss out on turning a baht out of it. It just remains to be seen how they are going to do it.
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Australian Aged Pension
KhunHeineken replied to VOICEOVER's topic in Australia & Oceania Topics and Events
So what's that tell you? -
How Do I Get A Mirrored Image From Laptop To Smart TV.
KhunHeineken replied to Mason45's topic in IT and Computers
As others have suggested, you can cast or mirror, but have you considered just a simple HDMI cable from your laptop to your TV? It doesn't get any easier than that. -
You get what you pay for with a VPN, and not all VPN's are made equal. As the saying goes about the internet, "If the product is free, then YOU are the product."