Metapod

its been no rules weed for over a year and everything is fine. the world didnt explode. maybe it isnt so bad?

1 hour ago, Danderman123 said:

Today, I paid my Thai condo HOA fee of 17,000 baht via WISE transfer from a US bank account (rather from my Thai bank account).

 

I suspect that some here will state that such a transfer is a taxable event.

 

 

Yes, it absolutely is a taxable event under the new system. 

3 hours ago, fluffs said:

Every 2nd shop in Bangkok and Pattaya is a weed shop. It was never legalised and is a blight on the country. It's being openly smoked in bars and restaurants which have children inside. It's nothing to do with freedom It's all about the money,  most of which goes to police and government officials .

.

People openly smoke cigs and drink alcohol in bars and restaurants where there are children inside. What is the difference?

7 hours ago, Dario said:

Woaw, already 145 pages for this problem. I'm a Swiss national and after some research it appears that Switzerland has a Double Taxation Agreement with Thailand. Thailand cannot tax us again. Matter resolved.

That isn't how DTA works. If you are a tax resident with assessable income, you are still going to have to file a tax return in thailand. you wil also need to translate and validate swiss documents, so you are going to have to hire an accountant. this can't be a bog standard thai accountant that deals just with thai tax returns.

I'm honestly shocked how financially illiterate everyone here is.

fewer and fewer places in the world where you can escape the globalists. 

7 hours ago, The Cyclist said:

141 pages and 4200 posts in to this thread and this needs reposted

 

 

Printed on the very day that the initial announcement was made.

 

If you are from a Country that has a DTA with Thailand, you will be exempt if that income has already been taxed in your home Country.

 

Possibly why I wasn't slapped in handcuffs and my gonads wired to a 12 volt battery, and interrogated about TIN's and filing tax returns last Friday, both at the bank and immigration.

No, that isn't how it works. A DTA doesn't make you tac exempt. You still have reporting requirements in 2 places and will need to fill tax returns in Thailand. This means translating documents, hiring an accountant, submitting tax forms every year to RD.

Have you read your specific DTAs? Many of them just specify who has first rights to tax, not exclusive taxation rights. In many DTAs you will pay tax in both countries and rhe country with first rights on tax will provide a credit you can apply to the second country to prevent being taxed on the same income twice. If the rates in the second country are different, you pay the difference. Thaikand has much lower income bands than a lot of other countries, so many people will pay twice in both areas. It all depends on the DTAs but regardless, everyone will have a burden of dealing with more paperwork and beauracracy 

Also a lot of people have income that isn't covered by a DTA

the current system is fine. they made weed legal and the world didn't fall apart. 

the less government involved the better. 

so worldwide taxation, no more pot, and chinese police patrolling soi cowboy

this new government is absolute <deleted>e and i'm surely missing Prayut and the old boys club now

a global taxation like the US would be even worse than what is being proposed.

thailand had a good system already and its one of the reasons why thailand has a lot of wealthy expats and foreign investment. all of the wealthy expats are gone if they are going to be taxed on worldwide income (me included)

So from all of this, my take away for my situation is to simply remit less money into Thailand and pay tax on what I remit. I had planned to make some more investments here but I'll be parking that money abroad and investing outside of Thailand instead. I'll also consider any large purchases or plans domestically as well if it will cost me an additional 30% to do it locally. I travel abroad frequently, so I'll do my major shopping in other countries and things like elective surgury for LASIK etc will just be done elsewhere.

On 10/17/2023 at 9:57 AM, proton said:

Took them years to get the 90 day reporting app to work, on and off. There will be enormous problems with this, people not being able to register for various reasons, not getting the handout/bribe, not being able to spend it where they want, cashing it in for a proportion of it from bent vendors etc, amusing times ahead.

not just the truckers. they also shut down bank accounts for those who donated money to the protest.

i agree, the future is <deleted> and the idiots will sell their own future away for 10,000 thb and be none the wiser.