Metapod

Yep, it makes no sense. "Let's make a program to attract UHNWI and then try to tax the <deleted> out of them!"

I'm still hoping Thai Elite gets some tax relief to sell their overpriced visas. Other option for me is just to move to less than 180 days in Thailand and spend more time traveling. i already travel 3-6 months a year, so it won't be a big life adjustment. I just don't like feeling like I have less freedoms and options. Ultimately, it means I'll spend less money in Thailand, not more. I'm sure there are a lot more like us who will choose the same.

they want to tax it silly

Im just holding out hope they tax exempt is like they did for LTV.

I'll be doing the same. It's the simplest solution for now.

I think it has to be family or spouse but I could be wrong on that.

thats not my quote..

So you support banning all alcoholic content and only selling non alcholic drinks like 0% beers? Because nobody drinks alcohol for the effects right?

imagine the sales for Thai Elite right now. Increased the price to 5million, now they want to tax the <deleted> out of you and by the way, we are now going to give out 5 year visas for almost free (DTV visa). Holding out hope that Thai Elite fight for tax exemption like LTV

who said people do drugs to escape reality? you are clueless grandpa

How is it any different to alcohol?

this government is a <deleted> disaster. bring back Prayut and the old boys club.

https://www.nationthailand.com/thailand/tourism/40034197

guess hangout together over there, similar plans lol

Okay, for a serious answer. 1. Tax. Thailand was a very low key tax haven with very favorable territorial taxation setup with overseas remittance and no CFC laws. This made it very advantageous to be based here as a tax resident with the right legal structure for overseas company where you could pay a very low tax rate. 2. Lifestyle. Say what you will, but Thailand is a very fun place to live and visit. There is a reason why Bangkok is the number 1 most visited city in the world. It's a playground country. 3. Networking / History - This might be more specific to my industry and circle of friends, but a lot of us met and networked in Thailand when we started building our businesses. Thailand is one of the world hubs for online marketing / SEO and a lot of us came here when we were starting out a long time ago. We didn't just uproot after we started to make serious money. A lot of us started families and settled down here with roots. As for the LTR visa, I'll probably swap to that visa from Thai Elite. My concern is that the LTR visa will no longer shelter taxes if they push for a non remittance based system.

We obviously swim in different ponds. Not everyone here is an aging pensioner trying to squeak by in retirement.

No downside? It's going to be an absolute ball ache trying to stay compliant for expats who have international funds and it's going to chase away all the high earners. Probably the worst part is how Thailand combines PIT with capital gains. Noone making serious money is going to stick around to pay 35% tax for nothing in return when there are other options out there. Just from personal anecdote, I know more than 5 people personally who earn 20million+ thb a year here that have either left or are planning to leave specifically due to these impending tax changes. Several others earning less than I know are also leaving. Will the old entrenched pensioners stick around? Perhaps, but the wealthy won't.

I have 20 year Thai Elite, own multiple properties here and have lived here for over a decade. This change just means I will have to be a temporary resident in Thailand and spend less than 180 days a year here. I'll also be investing abroad instead as I no longer feel comfortable investing more into Thailand with the direction they want to go with tax. Thailand is going from one of the most favourable tax systems to one of the worst in the world. It's nuts. I might also need to consider moving somewhere else for my main "home" as I don't want to be limited in my main home base if I have kids in future that need schooling. Probably make a move to Bali for a while as the offer a 5 year visa that doesn't tax offshore earnings.

my guess is they increase the lower fares up to drop down the cost of the longer fares. they might just do a flat 20thb regardless of distance in this case.

worldwide tax, vat on all imports, carbon taxes. holy <deleted>, Thailand is going to turn into a <deleted> hellhole.

we need to bring Prayut back. <deleted> this new government.

this government is a <deleted> disaster. they are taxing me right out of thailand with all this bull<deleted>

can we get these big government tax <deleted> out of here? sretta is a disaster

50 years? have you looked outside recently? almost every street vendor or service accepts QR payment. it's the preferred payment for many and most still don't report taxes.

this is going to have large ramifications to thailand.