Card

I absolutely take your point but remember the reports include details of the following for every individual account you have in both participant countries of the DTA, including credit card accounts. This means the Thai authorities can query us on any payments into the cc accounts to pay off the loan if they suspect the loan involved payment in Thailand. What information will be reported to tax authorities? The information reported to tax authorities will have been provided in the self-certification form, and details about the accounts and products you have, including: the balance or value the total amounts of interest or payments credited

So as its not happened yet, how can you claim it can be gotten around. Durgggh!

Don't read them then.

Like how?

You don't understand common reporting standards do you? All your financial dealings are recorded. You bring in foreign currency in your baggage? Where will u exchange it in thailand? Forex dealings require your passport. Where will you get Thai baht to bring into the country? In a foreign bank, of course and your foreign bank is obligated to transfer all your financial dealings with the thai tax authorities! Tax evasion is a serious crime in thailand involving enormous fines and imprisonment and exile. Is tax evasion really worth it?

And that will come. A direct link will arrive when they start taxing global income and that is likely this year or next. There is already a proposal.put forward to the thai parliament by the Thai revenue dept. The next step is to put it into law

You don't understand. Foreign Credit card use to buy goods abd services in thailabd is assessable fir tax in thailand if you pay off the card debt using assessable income. All you card transactions involving what you buy and how you pay off the debt is recorded and accessible by the Thai tax authorities. If u pay fir example the card debt with savings from before 1 Jan 2024 then the card debt is not taxable in thailand.

Google 'Common reporting standard'. The dtas require full disclosure by participating states to prevent tax evasion

They just want to get rid of you. Answering questions just gives them a headache. To be certain you need ti get something in writing and officially stamped just as they do.

Using a foreign credit card from your home country fir goods and services in thailabd is treated the same as paying fir them with remitted funds. If the credit card us paid with funds in your home country and those funds are taxable in thailand then they are assessable. If not then they are not assessable. Do Some people really think the Thai tax dept like others that di the same around the workd haven't thought of such a potential.loophole?

That will apply to retirement visa extensions when they bring in global earnings tax this year ir next in my opinion.

Haha nice one. YOU have to prove it. You should not mix your earnings with your pre 1 Jan 2024 savings and have statements to prove it. No.mixing. otherwise it's too complicated to bother trying to prove it

Exactly. The dinosaurs who reject anything that takes them out of their Thailand comfort zone are in for a rude awakening.

Immigration will only need a letter from the Thai tax authorities to confirm that you have filed a tax return and it is in order. Immigration will use it like any other document u need for extension as long as it is validated by the relevant authority. Same with your bank statement and letter. But this is only likely when they bring in global earnings tax which is inevitable. The current remittance tax, which is now law, is just to warm us up.

He said nothing of value. Total waste of time