
tomacht8
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Phuket hotel and police accused of covering up fatal electrocution
tomacht8 replied to snoop1130's topic in Phuket News
Amarin TV later reported that the hotel presented a counterfeit autopsy report to the family, and police officers were suspected of being involved in this action. His daughter is dead and then he has to deal with such disgusting hotel managers, corrupt police officers and fake autopsy reports. These are morally totally rotten people without any decency. One can only hope that the worst kharma hits them in the future. -
Pattaya rebranding as family-friendly destination to boost tourism
tomacht8 replied to webfact's topic in Pattaya News
I don't understand why some officials are always desperately trying to convert Pattaya into a family-friendly resort. Pattaya is a goldmine how it is and it is the breadbasket for countless divorced Thai mothers and for many, many families in Isaan. Make a well-running business better, but don't destroy it senselessly. -
Expats angry at huge concessions in latest Thai visa announcements
tomacht8 replied to webfact's topic in Thailand News
I see taxes and visa options as a total package to stay longer in a country. Anyone who stays in Thailand for more than 180 days a year becomes a tax resident. For example, anyone who has transferred 3-4 million baht per year to Thailand runs the risk of paying 30% in taxes. At 4 million, that's around 1.3 million. The new regulations make it possible to commute often between Thailand and other countries in order to achieve a maximum stay of 179 days cost-effectively if you want to avoid tax resident status. -
Expats angry at huge concessions in latest Thai visa announcements
tomacht8 replied to webfact's topic in Thailand News
Expats angry You can only be angry with yourself that you may have made the wrong investment decision. Anyone who bought the Elite Visa in the past got it that way. Now new visa types have been added. More choice isn't a bad thing in itself. Everyone can choose what suits them best. It is well known that Thailand is constantly changing its visa types, length of stay, document requirements, application procedures and bureaucracy at short notice. As a rule, nothing here is long-term and can be planned. I will probably also take advantage of the new opportunity to enter the country visa-free for 60 days several times a year, as from a tax perspective I will limit my stay in Thailand to 179 days a year. Philippines, Vietnam and Europe in summer are also nice countries where I can spend my money. -
Journalist in Samui Threatened with Violence Over Luxury Villa Report
tomacht8 replied to webfact's topic in Koh Samui News
From old news. Source: Thai National News Bureau Public Relations Department - 18 July 2006 / Source: The Nation ... But Yongyuth admitted there were irregularities in the issuing of land-right documents because the island had only 150,000 rai of land - and there were land-right documents for about 200,000 rai... The corruption going on there, is enormous. Buyer beware. -
Thai PM Launches Project to Transform Thailand into Financial Hub
tomacht8 replied to webfact's topic in Thailand News
This is just ridiculous. Apparently the PM has no idea what is currently happening in the country. With the threatened taxation of foreign transfers (up to 35%) to Thailand, no expat (> 180 days in Thailand) will definitely transfer large sums of money to Thailand to buy Thai stocks, condos, businesses, etc. And that foreign investors will park or invest their capital in Thailand of all places? I have my doubts, there are much more stable countries on this planet. -
Finance Ministry Pushes 99-Year Leases for Foreigners
tomacht8 replied to webfact's topic in Thailand News
..... there must be clear zoning criteria determining where foreigners can lease, with each unit valued at more than 30-40 million. 35 million baht invested: conservatively - diversified in dividend investment funds and stocks, should earn interest of around 6% per year. Should bring a gross return of around 2.1 million per year. Would be around 175,000 baht a month. For that money you can also rent something nice wherever you want. And you get the flexibility to change your place of residence relatively quickly if necessary, and you don't have your capital tied up. I have the feeling that Thai politicians often overstate the attractiveness of Thailand for foreigners. -
Thai MP aims to ‘stimulate’ economy with sex industry legalisation
tomacht8 replied to snoop1130's topic in Thailand News
I would agree to the new regulation, but only if I can use my red light night receipts to reduce my future tax burden. -
PM Srettha highlights key achievements in first year of office
tomacht8 replied to snoop1130's topic in Thailand News
With his tolerant OK for the new tax plans, he has managed to significantly worsen the future lives of an estimated 200K-500K foreigners living in Thailand. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
agree. It gets quite complicated for many people because of the threat of additional money being lost for zero benefits. I don't think a single foreigner will have any personal benefit from the extra money they have to hand over to the Thai tax office. Good for those who may still have a base in their home country or the flexibility to stay under 180 days. I have my doubts as to whether the idea of asking all foreigners (>180 days in Thailand) to pay extra taxes is worth it for Thailand. There are currently 4 groups for me. 1. All standard pensioners with normal cash transfers that are just below or above the allowance limit. They can submit their tax forms without any pain. This means a lot of work and additional staff for the tax authorities with minimal revenue. 2. The big fishes with millions of dollars in their overseas accounts. These usually have top tax and legal professionals, as well as high-level relationships with banks and government agencies. They know all the ways to transfer large sums of money to Thailand over or under the table. It is rather unlikely that any of them will fall into the new tax net. 3. All those who are currently planning to retire in Thailand and want to sell their home for 200-600K dollars or euros and thought they could transfer their money to Thailand tax-free as before. Likewise, everyone who has planned to buy a condo or make larger investments in Thailand. This group will probably be wise to put on the brakes and wait. Thailand will definitely lose a lot of foreign currency inflow. 4. All those who have previously transferred yearly an estimated 1-5 million THB to Thailand. I belong to this group too. I think the majority of this group will not run into the open knife and think of evasive strategies. Be it reducing money transfers, staying in the country for less than 180 days, simply importing more cash, letting tourist friends exchange there money, using many transfer channels (Wise, Crypto, Papal, etc.) or working with gift transfers, etc. I have my doubts as to whether Thailand can easily generate the fat tax money they dream off with there new tax plans. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
You can read there pages. Can you call them anonymous or they want before hand your data? If it's the latter, I'd be careful. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
Come on. Taxes are always a cat and mouse race. There is nothing wrong with thinking about in which hole you can possibly escape into. I have paid taxes all my life and not a little. Apart from the fact that nobody actually has any influence on what a popularly elected or unelected government ultimately does with taxpayers' money, e.g. buying weapons or making politicians personally enrich themselves, I am not prepared to allow myself to be led to the tax slaughterhouse without a fight. What the Thai government is planning to do is nothing other than pisssssing in the rice bowl of hundreds of thousands of expats who have no lobby or voting rights here anyway. In the end, nothing is being done other than curtailing the lives and freedom of many foreigners through a new, huge bureaucratic tax monster. DTA or not, as always, attempts are ultimately made to take away money from foreigners through paperwork, which they have generally honestly earned and taxed over decades in their home countries. The privilege of being able to stay in Thailand for more than 180 days should be covered by the VAT consumption tax, vehicle tax, insurance tax, etc. that you pay on everything. For me, the new tax plan is nothing more than pseudo-legalized theft. That's how I see it on a larger scale. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
That will be the consequence. I stop transfer money to my Bank account in Thailand. My solution is now to send the money to my daughters account. She has Thai and Foreign Passport. She study currently in Europe and is less then 180 days in Thailand. So she is not a Thai Tax resident. My daughter give me then her Thai ATM card and Pin, that then I can take out the money I need to support my Thai family in Thailand. LOL. That I am forced to go this way, is stupid. But TiT. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
True. This new tax orders are stupid. I send 50 Million Baht in 2025 and stay under 180 days = no tax resident = no pay any tax. Then I stay in 2026 all year and be a tax resident, transfer no money from abroad = no income = not have to pay any taxes. (In Thailand, the taxes on the saving interest are automatically withheld by the commercial banks and paid directly to the tax office). Sorry, those are idiotic tax laws. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
I also have rental income from several apartment buildings. But I could only roughly estimate the profit in advance. First I have to wait for the annual bills from my suppliers: electricity, gas, water. They come quite differently for all rental properties (February-April). When I have all the billing numbers together, the data goes to my heating cost accounting service. All apartments have consumption meters on the radiators so that consumption can be allocated for each apartment (heating and hot water). It will take until July until I receive the statements. Then I will be able to prepare my profit and loss statement for each apartment building. Then my statements go to my tax advisor, who also makes some profit adjustments. He then sends the whole thing to my tax office in October-November. Depending on the workload and the document verification requirement, I will receive my official tax assessment in February of the following year. It is therefore impossible for me to report my 2024 income to the Thai tax authorities by the end of March 2025. The only thing I would report to the Thai tax office (if I contact them at all) would be the transfers of my savings (e.g. earned and taxed in 2017) to Thailand in 2024. -
Thailand Faces Population Crisis: Minister Calls for Action
tomacht8 replied to webfact's topic in Thailand News
What you get when you have lived in Thailand for decades is always the same life story of many single Thai mothers. Many Thai teenage girls, especially in rural areas, have become pregnant. A short time later, the biological father ran away and never pay any alimony. I suspect that Thailand is very high in the international comparison of countries with such cases in percentage terms. Young mothers are left stranded without any financial security. It doesn't surprise me that many young Thai women, who experience this misery in their villages first hand, no longer have any interest in family and children. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
This is what my Thai tax expert explained to me. The Thai tax office is more behind the big fish. The problem is that all the small fish swim in the pond too. There have to be clear signs in advance to see, for example, from a simple inquiry to a commercial bank, that there is much more to be gained. At the moment, for example, a lot of Russians are buying villas on the islands and many Chinese are buying condos in Bangkok that are in the 20-50 million THB range. Apparently no one asks where the money comes from. And as a little cherry on the cake. My Thai wife runs two businesses. She must report her income every 6 months. She then goes out for chicken lunch with her regional tax officer. They then roll the dice somehow, to determine the tax burden. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
But now it's completely messed up. Those who have business, time-work permits, or special visas (for example well-known musicians) know about their tax case from an official body. These are very few cases compared to the masses who stay in Thailand for more than 180 days. I mean full-scale enforcement. Foreigners who have been in Thailand for more than 180 days in 2024 want to leave in 2025. In terms of time, they cannot be prevented from leaving the country until March 2025. After March 2025, immigration can only ask: Did you submit your tax return on time? How long it takes to get from the tax office rje tax clearing paper varies between the declaration and the tax assessment issued. What would happen if, for example, you want to leave the country in May 2025 and you have not submitted a tax return for 2024? Will you then be barred from leaving the country? How the immigration will get this info? And this perhaps in thousands or tens of thousands of cases? And what about those who didn't transfer any money to Thailand in 2024, didn't work and lived only on the savings from their Thai savings account? That would be pure chaos. And something like that would definitely get in the international press. This is an interesting example from an existing law and how it is enforced in practice. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
This 10 year audit is pure fear mongering. In order to deploy such a heavy artillery, there must be serious reasons and suspicions that are at least in the 2-digit million range. And not for foreigners who didn't know that they had to submit a tax return for their breadcrumb transfers. In addition, as a private individual you are not obliged to keep your receipts for decades. As far as I know, the law has been in place for a very long time that requires a tax clearing paper to be presented when leaving the country for stays longer than 180 days. But it has never been done. The effects would be fatal in the large number of cases to be expected and in the world press. The third possibility is the most likely. that you could be forced to join the club of Thai tax returners by extending your visa. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
Fully agree. I bet that the tax office currently, as of today, does not know which foreigner has been in Thailand for more than 180 days or not. Both retroactively and for this year. And whether and when the tax office will be able to determine this fact (more than 180 days) for all foreigners nationwide for the calendar year 2024? Since 15 years I have a thai tax ID, received automatically via the Pink ID. I have never received any mail from the tax office and I want it to stay that way for as long as possible. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
Thanks. This is helpfull. In my country you no get such a Certificate. The tax authority give your the yearly taxreport (around 10 Pages) with the amount you must pay. After you pay with banktransfer your tax bill. That's it. If a Thai tax officer will accept this two papers (Report + Bankslip), who knows? I will ask my european tax advisor if there is a possibility to get such a "Certificate". Even if it's just a precautionary preparation, the f@&"&ing bureaucracy and paperwork starts now. Running costs, translator costs, certification fees, loss of time. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
No reason to panic or even be afraid, even if some people here are painting the devil on the wall. What big thing is supposed to happen? I'm also waiting for an official invitation. Be it a letter from the tax office or maybe at some point in the future that immigration tells me they still need a tax document. Then you have to take action and perhaps pay a late fee, just as it has developed over many years with the TM30. In my case, my Thai tax advisor advises me to wait. On the other hand, anyone who has trouble sleeping because of this new, internal tax instruction (e.g. this is not a new tax law, but just an internal procedural instruction that reinterprets current law; and the whole thing is currently very controversial) thinks that they should get a tax number in advance to have to, should do it. Ultimately, everyone has to decide for themselves and their specific situation. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
I understand that fully. But only the fact, that Thailand want to have my income report for 2024 at End March 2025. That is impossible. The last tax report from my homecontry they can have is from 2022. The 2023 year income report I can give maybe at March 2025. And my taxreport for this year 2024 will be ready maybe at February 2026. If that a provincial Thai Tax officer will understand? I have my doubts. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
If you say so. The deadline is anyway in 9 month. So no panic. There will and must come more clarification from the Thai tax authority's. Now it is only a storm in a water cup. -
Thailand to tax residents’ foreign income irrespective of remittance
tomacht8 replied to snoop1130's topic in Thailand News
These are exactly my fears. In the worst case scenario, I would have to fly to Europe to get these documents - no one knows which documents at the moment. Then have it translated into Thai and then certified by my embassy in Bangkok. Then the certainly well-trained, regional island tax officer, who knows the DTAs in detail, would possibly conjure up a tax payment from his Excel 95 computer, which, if it was too high or not comprehensible, I would immediately dispute with the help of my Thai tax expert. My tax/income cases are much more complicated than compared to a pensioner who receives their pension every month. That's why I'm waiting for now, and yes, I'm waiting for the invitation from the tax office. Furthermore, I would not be able to quantify my income for 2024 at the end of March 2025. Here we come back to the DTA of my home country, where I first have to pay tax on my profits/income from real estate ownership in my home country. etc.