KhunHeineken

I 100% agree. I'll ride the wave to the shore, but it has been in place for decades, however, should they put a stop to it, I have been bringing in more than 65k baht a month for years.

Hardy. For me, it's about the safety of the asset, and not getting f*cked around by immigration. The interest earned leaving the 800k in my home country is just a bonus.

And, no need to deal with queues and immigration. The only downside anyone has put forward is it's "illegal." Well, TiT. They certainly can't argue with the math / financials. For your 10k more you get the ability to earn 42k, and your money is not in an unstable, 3rd World Country. Also, it's still in part of your estate in the UK. It's a no brainer. One member has put forward the 800k is for his wife, upon his demise. I accept that reason, but not the reasoning "my extension only cost 1,900 baht, that's why I have 800k here."

Same question to you. Do you think this will all go away, and we can all do nothing? Go on the record.

Simple question for you. What's stopping everyone from saying they went to a TRD Office and was told no need to file? There's no record one went there. No record of the meeting. No record of who they spoke to. No record of the information given. It's basically like it never happened. Do you think this explanation will "fly?" Can you see the disconnect between the information Thai banks pass on to the Thai government, and what Somchai at the TRD Office is telling people? Remember, the Thai banks only see the amount of cash. They don't know if it's assessable or non assessable. I have a feeling, without having a certificate from the TRD, even saying zero baht tax to pay, it could come back to bite people, either this year, or in the future. I also put forward that such a certificate might be like the certificate of residence. It should be free, but most pay 300 baht for it. The TRD certificate could go the same way. I have never said I have a crystal ball for this tax policy. I have just put forward some scenarios. I am not one of the members that believe it will all just go away, and that's because there's money involved. Do you believe it will all go away, and nothing will happen?

I have said in many posts, "The Thai's must have something up their sleeve." I have also been quite vocal on the easiest, cheapest, and most effective way they can enforce this tax policy, and that is through needing a TRD certificate at extension time. There was the below thread. In your opinion, is the TRD boss full of hot air?

I did mention immigration make it harder, on purpose, to frustrate expats, and create an incentive for them to use an agent. You just proved my point. I have also said I expect the 800k / 65k to be raised in the future. It has been these amounts for decades. It can't stay at these amounts for ever. Say it gets raised to 1 million baht, that makes it even a worse deal. However, this is for another thread.

These are selling like hot cakes. https://www.ebay.com.au/itm/387862728775?srsltid=AfmBOopHaPVXM7pLSzi73vB3SwAl57mSihTyKKFRYZY_SGHOrPc9RcON

The deadline for one to file is the 31st March. How can they possibly enforce it within the filing window period? Do you think it's all smoke and no fire? I have said many times there will be chaos, and they will make things up on the fly. I have also said this tax policy will evolve. So, what it is in 2025, may not be what it is in 2026. Surely you concede the Thai's can smell a baht in it for them? On that basis, why would they be handing out free passes?

I said the ones using the 800k baht in a Thai bank, just sitting there for years, earning nothing, and they still have to line up at immigration, are "mugs" and the word "mugs" was used by another member. I just re-posted his description. Should they ever stop the use of agents here, I will move to the 65k baht method, and will be forced to line up at immigration with the 800k baht "mugs." No way does a Thai bank get a "donation" from me.

No, it's illegal. I have never said it is legal. It's also been a systemic part of the immigration process here for decades. A big earner for immigration. There have also been many reports over the years of immigration deliberately making things difficult for expats, thus frustrating them, and creating an incentive for them to seek out the services of an agent. I decided to opt out of a sh*tty Thai bank interest rate, and opt out of dealing with immigration. Also, just to clarify, I am not actually putting the corrupt payment in the hands of a government official, as you allude to. The agent is a middle man. That's certainly not me. I know if I am drunk and crash into a Thai, possibly killing them, I will either go to prison for a long time, or be extorted out of my life savings. I do not drink and drive / ride. I abide by all other laws. I rent here. I will never buy a property here, mainly based on Thailand's foreign ownership of property laws, but also because Thailand does not offer a reasonable pathway to permanent residency and / or citizenship. One could buy a property here, but their "permission" to live here, as opposed to their "right" to live here, could be revoked at any time. Once again, that retirement visa / extension is nothing more than 12 month tourist visa.

Yes, I know this, and have conceded this. However, it's been going on for decades. If they ever do "crackdown" on it, I guess I'll be like all the other "mugs but will do the 65k baht method, because there is no way I am donating 800k to a Thai bank.

Either do I. I wish you all the best. Careful now, I know some Thai soldiers also. I'm not the one who's been lead by the nose for 28 years in Thailand.

They lost it the moment they "donated" it to a Thai bank, under the false belief they had no other option for their retirement visa / extension.

No. Yes. The Thai government has decided to enforce it. They have tasked the Director General to broaden Thailand's tax base, and foreigners are easy targets, due to the transparency of remitting money. Will that be your excuse at extension time, or at the airport immigration desk? I suppose they could have handed everyone applying for an extension in 2023, or 2024, a piece of paper warning them. That would not have reached ALL foreigners that are tax residents of Thailand, but it would have went a long way to spreading the word, but they didn't. TiT. It's been in the news, and on the internet. I don't know what country you are from, but I am from Australia. Every time the Australian government introduces a new tax, they do not mail out, snail mail and / or email, every citizen informing them of the new tax. What do you expect the Thai government should have done?

Yes, did you see the word "now" in my post?

I accept your reasons, but I am happily single here. The flip side to your reason is, I don't want my kids to have a bureaucratic nightmare in Thailand to get the 800k transferred back to my my home country and added to my estate for distribution. Just on the hospital thing, I did mention in one of the tax threads that any funds transferred for major emergency medical, either from an accident or illness, will be taxed the following year, so that surgery just became more expensive. Same with larger purchases, like a car.

I transfer more than 65k a month here anyway, and have been doing so for a long time. It's a myth that those using an agent haven't got 800k to transfer here. I have several friends that do the same as me. All of them are reasonably well off.

It's such a poor return, I wouldn't even call it "investing." Many move the 800k to Thailand because they feel they have to for visa / extension purposes. There are other options. The people that say using an agent for an extension is illegal, are the same ones that drink ten beers, then hop on their motorbike and ride back to their house, without a helmet, with their house being "owned" by a Thai company, but using an agent is illegal.

I bring in more that 65k baht a month. As I have said, the agent's fees are more than covered by keeping the 800k in my home country, with plenty left over. I have no problem using some of those funds to pay an agent and not have to deal with queues, and immigration. I'm still ahead financially, so happy to pay. It's not that expensive, and they offer a good service.

I've had a will ever since I started my first life insurance policy, and that was when I was in my 20's.

It was you who started the insults. People in glass houses shouldn't throw stones. There are Thai soldiers in most Thai families because Thailand has National Service. In any case, why would you call upon others to fight your own battle? Weak as p*ss.

Well done, lads. Strangely, it doesn't happen in Pattaya, where baht buses / tuktuks drive around, and it's 10 baht hop on - hop off. In Phuket, they park up all day, waiting for their turn to rip of one foreigner for more than a day's average salary, and just for a short journey. Tuktuk drivers have ruined the Phuket holiday experience for many tourists.

They wouldn't. They wouldn't.

Your health could deteriorate, or you have an accident. I can't think of a bigger '"monkey wrench" than that. Health is wealth.