beammeup

This isn't about weather crypto is a good investment or not. There are billions of people who don't have a bank accounts. They can also use stable coins.

Bunch of fuddy duddies here. I think its a great idea. Many (younger) people hold their savings in crypto so: just convert your crypto to baht at a licensed digital operator, and use you qr code to pay for whatever you want. When it runs out use normal money. Whats the problem?

Well I was planning on it in 2026 and I was only planning on remitting the minimum amount to live on. This opens the door to spending a lot more.

So I wonder what this will mean for people cashing out investments? No capital gains if remitted in the same or next year?

Weird article, at first it seems that they want to increase taxes, then further on it seems they want to roll back the Taxes on foreign remittences, Another one of those situations I think where we will need further enlightenment.

"dont ask us"?? whats the point of this platform if you cant ask questions? I have the information from the TRD websites. Its not exactly very clear, which is why I am throwing this question in here to see if someone a little more inciteful might have an opinion that reinforces my view. There are some who have recently asked the TRD these questions, I was hoping for a response from them.

OK lets try this again, I gift my wife 1 million baht. she transfers this 1 million baht to her Thai bank from our joint offshore account. This is not a salary she is not an employee, If she buys beer and cigs with it what dif would that make. Its a gift. How does this not fit (in your view) within the gift rules? furthermore: if she buys a car with it the only benefit I would get from it is that I wouldn't need to drive her to get her nails done.

What are you laughing at? Its a serious question. Can you explain why this would not fit within the gifting laws?

OK so wife needs a new car, I can gift her the money and she can transfer from our joint offshore account into her local account. No tax obligation for her or me?

Is there anything at all new here? I really dont have time to sift through 25 pages of bickering if not.

OK so if you remit 400K after 01-01-2024 but it is savings from prior to 01-01-2024. and have bank statements to prove it. so non assessable. do you need to file a tax return?

I dont know about FBAR but it sure is FUBAR.

If next year I am tax resident and I remitt enough savings to live on (greater than 60k+150K) but they are savings from before Jan 1 2024, so not assessable. Do I still need to do a tax return the next year?

Yah there is a bunch of squareheads who say everything is clear just read the docs. they cant comprehend for us. Well when you get tough questions they disappear.

All this talk about gifting... I thought we established that the gifting (once the funds are in Thailand) is tax free up to 20 mil but the money needs to be remitted first and that may be taxable. One of those things that need clarification. It would be nice if someone has done this and can tell us how it went. Probably we will need to wait until mid next year to find out.

OK so if Income is from dividends or sale of investments offshore, I am entitled to the expenses deduction of not exceeding 100000?

So if you have greater than 200000, you will be able to deduct (from A4above) - expenses 100000? Do you need to prove these expenses?

when did they announce that? I only read it bis under consideration.

OK so one way to reduce amount possibly is file separate returns for you and your wife. Say we have a joint offshore account, remit half to yourself and she remitts the other half to herself. That way we would both get the first 150K at 0% + 65K and any other reductions.

OK so If we have a joint offshore account, I gift her funds (offshore), she remitts to herself. This should be non assessable ( gift) no? And legal.

Assuming its assessable. My income from sale of investment, but in a joint offshore account and she remitts to herself. I have no issues with her being liable, I just want to be sure I am not somehow liable.

There is nothing useful in this response. You are stating the obvious. Anyone else?

How about if you have a joint account offshore with you Thai missus, and funds are sent to an account solely in her name. Any chance the husband will get dinged for tax?

The longest cooking classes I have seen are 6 weeks. Why would they give a 5 year visa for that?

Extension under review to be picked up next week but wife unavailable on that day. Is she required?