SHA 2 BKK
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Posts posted by SHA 2 BKK
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On 3/25/2024 at 6:51 AM, jacko45k said:Is it a matter of Thais not wanting to do the job, or the fact that the foreigners will work for less? Often the employers are Thai themselves.
Some of the Thais I know don’t want to work because they believe they will win the lottery soon and get rich the easy way. They just need another loan to get the next lot of lucky numbers.
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2 hours ago, Ben Zioner said:
Today I have received a letter from UBS requesting a [Thai] TIN.
I was about to send them my PIN but got second thoughts. Since I have the so called LTR/WP visa, can I tell them that not of money transiting through UBS is assessable in Thailand and that therefore I have no TIN to provide?
I am not sure I want to do that, because I wouldn't like it if they closed my accounts. But their letter was threatening at all, a reminder might be though..
I have told my bank (ANZ Australia) that as I have an LTR I am not required to have a TIN. So far so good. Australian Banks seem to understand that some jurisdictions don’t require a TIN. But every three months or so I get a call from one of their Due Diligence teams.
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5 minutes ago, Mike Lister said:
It will vary from person to person, depending on whether or not you are tax resident (180+days per calendar year) and on how much assessible income you transfer into the country. You may wish to read the Simple Tax Guide to understand your own situation.
Further LTR Visa (excluding those earning a Thai income) have been advised there is no need to lodge a Tax Return and therefore no need for a TIN, but as Mike says circumstances will differ and best read the Guide.
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I’m getting 6% back home in Australia. I will only bring in pre January 1 savings into Thailand when needed.
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Landed at BKK last evening. Place was packed and big queues at Immigration.
Went to the Fast Lane and the Security Guard asked my reason for using this lane. I replied “BOI”. He then pointed at a sign that said I needed some sort of BOI letter. I then quickly added “ LTR Visa” and the guard let me pass without further question. In an out in 10 minutes - longest wait for my luggage.
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I have a mate who built a house inland at Cha Am through a Company and Thai partner. Go there quite regularly with him. Rama II is terrible - especially on a Friday, end of a holiday, raining etc. It’s congested and dangerous.
I read somewhere that around 36 workers had lost their lives so far building the thing. Not to mention motorists who are at mercy of pile ups and falling construction equipment.
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46 minutes ago, RichardColeman said:Probably more due to Thais being unable to prioritise their debt and money coming in. Pay the mortgage or new phone and tv ?
Or play the Lottery - official and unofficial. Then ask relatives for some cash to get by.
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51 minutes ago, Misty said:
I've heard it's the way the law was written that is the problem. The BoI is stuck with following the law, such as it is. But would hope that at some point the law could be amended to be made more reasonable.
When I applied I showed one month of my pension pay slips and a letter from my Pension Fund outlining my yearly income (it was in $AUD but met the $USD threshold). I also own property here which put me well over the $80k level. I didn’t have show my Australian Tax return. Fortunately I found the whole process very easy and the BOI quite flexible. But that’s my two bobs worth. -
1 hour ago, Yumthai said:
OK, so what does BOI mean when they mention capital gain as unearned income?
Could you make few examples of an asset capital gain that will be accepted by BOI?
Just ask the BOI they are very friendly.
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46 minutes ago, MPoll said:
Regarding the new tax rules and the LTR visa
There is another chat threat in the Thai Visas, Residency, and Work Permits area titled, "Taxation of Ex-Pats pensions etc." There is a nice summary of the tax rules by Mike Lister on page 7. His #4 point is that the LTR visa holders are exempt from paying tax on funds they transfer into the country. I decided double check this and sent an email to a Thai Tax firm named Sherrings (referenced in the chat thread). They responded confirming the LTR visa holders don't pay tax on money transferred into Thailand nor do they have to file a tax return. The exception is Highly Skilled Professionals category of LTR.
Great update and much appreciated.
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2 hours ago, Berti said:
Can someone help me with these questions regarding the "Wealthy Pensioner" USD 80,000.- per year income LTR?
- What timeframe is considered? I know that in the two years before the year of the application the pension income must be 80,000.- per year. But are there no more checks later on?
- 80,000.- before or after tax?
- The 80,000.- must be sent to Thailand? Or is it ok if received outside of Thailand?
- Yearly means it does not have to be distributed to 12 month of the year. One time payment of 80,000.- per year is ok?
Hope this helps. I only showed one Australian Tax Return. $US80k before tax. My pension money is deposited outside Thailand in Australia. This checked 5 years after the initial issuance of the Visa so that you can get another 5 years.
I would imagine a yearly payment of $US 80k is ok.
The team at the LTR BOI are great and I would suggest you email them or if in BKK pay them at visit at Chamchuri Square.
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Here was I thinking that there would be no firecrackers this year given the spate of unfortunate events that have surrounded their manufacture as of late.
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5 hours ago, DrJack54 said:
Next day after your birthday.
Same as the OP , I waited till after my birthday.
My license was 2 months expired when I went to DLT to renew.
My understanding is license can be up to one year expired and can still renew.
Don't take that as definitive
Thannks DrJack54 and Sjoerd for the information. I shall celebrate my aging and then renew my licence!!!
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My licence expires on my birthday. Question- how long after your birthday can you go an renew? So I can get the longer period of time on it?
Any guidance appreciated.
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On 1/15/2024 at 6:37 AM, Ben Zioner said:1 hour ago, Rampant Rabbit said:not only that but what I see from my Wifes familys kids are they are bone idle, dont want to do any hard work would rather have no work, although then again their parents seem ok with this whilst still working in the fields themselves.
Just recently one of her 10 brothers and sisters drove from Loei to Bangkok to collect the little princess who lost her job and couldnt pay her rent, yet still managed to buy those 50 baht drinks everyday. Wife appalled by this.
They want it all want it now and expect it for free........seems the attitude and not only in Thailand.
My lot all think they are going to win the Lottery. They borrow money left right and centre to buy tickets. Some are hard workers but always need coin for lottery - the other half couldn’t work in an iron lung.
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26 minutes ago, TravelerEastWest said:
For international flights when traveling with a Thai family member any special ways to stay together and move quickly?
Just tell the guard at the front of the Fast Track line they are your family. I’ve never had problem with us all going in together.
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16 hours ago, TravelerEastWest said:
Does the LTR visa speed up domestic flights?
I don’t think so. When I fly domestic is usually use my Thai Drivers Licence. But I’ve never seen a special queue for LTR Visa.
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That’s just a “nipper” (baby). My Grandad used to trap them live in Oz mainly for zoos.
Dad has a photo of him when he was a kid next a 21 foot (6.4 metre) specimen that Grandad snared and sent to the Townsville Zoo.
Queensland has protected Crocodiles since 1974 - being the last jurisdiction in Australia to do so. It’s illegal to hunt them now unless permits are granted - usually for man eaters. Troublesome ones are caught live and relocated or sent to zoos.
When I was a kid you could hardly spot them - now they are quite abundant in my old home town so caution is required.
Some want hunting re-introduced. I for one disagree. It’s their habitat and man must respect that. Be like shooting all the Tigers because they pose a danger here.
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4 hours ago, John207 said:Hi there, the other LTR threads seems to have been abandoned hence me posting my question in here. Hope people don't mind even though it's not relevant to the OP. I've recently flown from Suvarnabhumi to Phnom Penh with a cheap airliner and I've shown the LTR visa to the lady at the desk asking for a fast track voucher but she said couldn't help me with that. Does anybody know how to get through the fast track security with an economy ticket and without a voucher? Thanks
Yes for arrivals just go to the “Fast Track” section which is after the main immigration area. Next to where the Chinese used to get their Visa On Arrival.
There is a sign from memory that is in blue and white that says Fast Track. Show your LTR Visa to the guard in front and you are in. No need for any voucher.
There is the odd guard who still doesn’t know what and LTR Visa is but you can point to it on the blue and white letter board. Thailand Elite also use this point.
For departures look for Fast Track again after you check in. Don’t go up the escalators. They are on the check in floor (I think there are two). Show the guards your LTR - again no need for a voucher.
Hope this helps and safe travels.
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2 hours ago, Ben Zioner said:
Not sure about that, Yahweh is egalitarian while Buddah isn't...
But seriously, there are two schools of thought here; those who believe that expats are the target, while others claim that RD wants to nail affluent Thai dodgers. What happens to RD 743 will give us an indication.
Sathu.
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11 hours ago, Ben Zioner said:
I do is slightly differently; early January I have transferred my 2023 pension, which is non taxable because of Paw. 162 and RD 743. But in 2025, 206, 2026, if RD. 743 gets repealed, I'll transfer 1.5 M a year, which would then generate 150k to 200k of income tax, instead of 750k if I transferred my whole pension. 2028 would then become a sabbatical in Vietnam or Malaysia depending on my health/demise. I wouldn't mind paying these 150k, as they would be a fair contribution, make me look a good boy and keep my local RD office happy.
And @mrmagyar I din't get a TIN but I have now a Thai ID with a number that can be used when dealing with the RD. I didn't want to go to the RD to look like an idiot sheep volunteering unduly to the slaughterhouse.
Pray for Royal Decree 743. Amen.
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1 hour ago, mrmagyar said:
Has anyone with an LTR visa (Wealthy Pensioner, Wealthy Citizen or WFT) bothered to get a Thai tax ID?
I understand that there are no Thai tax obligations with these visas but wondered if anyone had got the tax ID and filed proactively, or planned to do so?
I haven't and hope not to get drawn into the Thai Tax system if at all possible - even if no tax is owed. I did make sure I have enough In Thailand this year to hopefully get us through 2024 so no need to do anything until things get a bit clearer.
However, my understanding of Royal Decree 743, is that as income remitted but earned in a previous year is not subject to Thai Tax regulations I can't see the need for a Thai Tax ID unless one earned some income in Thailand and I certainly don't.
Be very happy if anyone could offer further advice.
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7 hours ago, Ben Zioner said:
Did the bear have a work permit?
Maybe it’s on a LTR Visa????
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8 hours ago, Ben Zioner said:Funny that guy, I vaguely remember his early video on this topic, he was saying "don't worry to much", and now he says "even DTA may not work".
But unfortunately I have to agree with him as regards LTR, so I did my planning to minimise my tax until 2028. Then I intend to re-plan while not being tax resident.
BTW has he some business interest derived from the Elite program?
Also he doesn't seem to have read the 1979 immigration act, where 34.7 and 35.6 give BOI the leeway for the LTR.
Have to agree with you Ben. This bloke been all over the place and has always had a harsh word for the LTR Visa. But as he said “what can be given can be taken” and yes TIT.
I too won’t bring anything into Thailand this and maybe next tax year even though I have a Pensioner LTR from December 2022 and money is earned in the previous year so technically tax free.
After March 2025 when this years filing is due we “may” get a clearer picture. “May” being the operative word.
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700+ foreigners caught working Thai-only jobs
in Thailand News
Posted
If you are going to quote me cobber don't take the half arsed approach and do it selectively - I said "Some" at the beginning of my sentence - intimating that "some" not "all" Thais are waiting for that lottery win as my old man says "they wouldn't work in an iron lung". But then that's unique and is also the case back in Oz.