SHA 2 BKK

Get rid of it.  My family only eats Australian, US or NZ Beef and if buying in bulk it's cheaper than Thai beef. 

We tried the local product when we first moved here.  Even the poor old dog wouldn't touch the stuff.

7 hours ago, JimGant said:

Yeah, Yanks can be bloody arrogant. I apologize. Aussies have been our finest allies, sticking with us through our worst follies, like Vietnam.

OK, enough thread creep. Sorry.

No apologies needed cobber - we are mates.

3 hours ago, JimGant said:

 

Hey, it takes a lot of money to defend the free world. We're still paying for kicking out the Japanese from Guadalcanal, so that Oz remained free, and allowed our Marines to have the best liberty of their lives in Melbourne. My grandfather died telling Oz stories, before he had to head out for Cape Gloucester.

Agree with you cobber.  It was the Aussies and Yanks that stopped the Japs first - that being the Battle of the Coral Sea (before Midway).   My dear departed Grandad fought on Kokoda and then through the battles on the North Coast of New Guinea.  America was and has been a great friend of Australia.   However an interesting story took place in this relationship 20 odd years before. 
 

During the Treaty of Versailles negotiations after the Great War, US President Woodrow Wilson argued strongly that German New Guinea be given to the then allied Empire of Japan as a protectorate.  Australias’ Prime Minister Billy Hughes was having none of it and wanted the former German colony to join Australian controlled Papua.  
 

Wilson looked at this diminutive, half deaf PM from a nation of 4 million people,  that had only been had its own Government for 18 years and said to Hughes “I sir represent 60 million Americans”.  
 

Hughes responded that with due respect he represented “60,000 dead Australians”.   
 

Fortunately Hughes won the argument and Papua New Guinea became an Australian protectorate until its independence in 1975. 
 

2 hours ago, Misty said:

 

It's really good to hear that there are efforts to increase the FBAR threshold figure to be closer to FATCA's.  I didn't know that. In fact FATCA's Form 8938 threshold for expats (US taxpayers living outside the US) is even higher than the $50,000 domestic threshold as per below.  It would be very helpful if FBAR threshold could go to the expat Form 8938 threshold, and then be inflation adjusted:

• Unmarried taxpayer threshold - more than $200k on last day of tax year or more than $300k at any time during the tax year.
• Married Filing Jointly--more than $400k on the last day of the tax year or more than $600k at any time during the tax year.

https://www.irs.gov/instructions/i8938#en_US_2020_publink55389wd0e825

 

Geez you Yanks gotta jump through some hoops every year.   I gotta file back in Oz still as I earn some coin there.  But that takes me half an hour online.  Uncle Sam sure wants his Pound of Flesh.   

Plus no 90 day reports and swift entry into and out of Swampy.    

4 hours ago, JimGant said:

 

And an excellent opinion, in my opinion (do I hear an echo...)

Hear Hear Mister Speaker!!

Hope they bring back direct to Brisbane - it was always full and Brisbane far bigger than Perth.  Air Asia also used to run a direct to Brisbane service out of DM but that was only for a few months before COVID hit.

 QF out of Swampy via Sydney always full and changing planes in SYD is a nightmare.   SIN a bit easier but hope Brisbane direct comes back soon.

15 hours ago, JimGant said:

Has anybody done their one year report by mail? If so, can you describe the procedure -- and did you need to provide a return envelope to get your "due next year" reminder, which, I guess, doubles as a receipt of report, to staple in your passport? Thanx.

Sorry Jim - my 365 day window keeps moving as I’m in and out regularly.   A few have done personal visits to Chamchuri Square and I recall reading someone did a report at an outside IMM Office.   

10 minutes ago, JimGant said:

 

Indeed. In effect, we've been grandfathered under the old rule, namely: Bring your assessable income into Thailand in the year, or years, after it is earned, and it is then not taxable. So, if that is what you have been doing, nothing has changed for you.

 

 

Thanks Jim - have a good day mate.

4 hours ago, tomm12 said:

Are we as LTR holders required to file a Thai income tax return?

 

Regards,

I really don't know. 

But as I have the Wealthy Pensioner LTV and my only income comes from outside Thailand,  I bring this in the year after it us earned,  and according to Royal Decree 743 that income is Tax Exempt - my thinking is no.   I doubt the Thai RD want a return where no tax is due (and I doubt there is a form to return as such).

No assessable income - no Thai Income Tax Return.  And that seems to be the gist on the other tax threads where other Visa holders have asked similar.   

I have asked the BOI but was told that the RD will clarify matters - that was some months ago.

Highly Skilled LTR Visa holders will have to lodge to claim their 17% - but that is income in Thailand and there is a special lodgement form for that.

I see they have announced a large drop in the imported wines excise - currently 50-60%.  Maybe will get access to some decent priced plonk.  This is aimed apparently at boosting tourism - but it shall also boost my wine cabinet.  Drop to take place for one year as soon as its Gazetted.

4 hours ago, Misty said:

 

Yes, the LTR unit has been extremely helpful throughout. Especially since a lot of the process was outside their direct control, especially coordination between Min of Foreign Affairs in Thailand and the NY Consulate. But it's done - the LTR HSP visa was issued yesterday.  Paid Bt50k cash at counter.  In this case the visa  takes up 3 passport pages (one page handwritten note about the transfer, the visa itself, and then various stamps about entry/ stay permitted until, etc).  So that's the only downside - the LTR e-visa used no passport pages, it was just a separate piece of paper.

Congrats Misty.   Well done.  Yes lots of pages used in the Passport.  Think I will need a new one next year.   Enjoy your tax saving!!!!

On 12/27/2023 at 7:54 AM, Misty said:

 

Happy holidays Pib! The process isn't over yet, but at least there's light at the end of the tunnel.

Good luck Misty.   Dips me lid to you.  Tackling all the Thai Bureaucracy.   But sounds like the BOI were helping as much as possible. 
 

Hope all the LTR’s had a great Christmas and happy and healthy 2024.  

3 hours ago, 1tent42 said:

 

Thanks for the reply oldcpu.

 

I will miss the income requirement by a few hundred dollars for 2023 tax year (I should have done a Roth rollover).  But after having read through the thread, I saw a post with a screenshot where the entry for the income can be specified by dates.  I'm assuming that the income can be set for any 12 month period not just for the tax year.  I have time since I just got recently issued an OA visa.  So I will wait until I have 12 months of pension income and after I have filed my income tax return next year to apply for the LTR WP.

When I applied (December 2022) I simply sent my last two pension payslips (I get paid fortnightly).  I didn't send my tax return.   No questions asked.  If you don't get pension payslips perhaps your pension fund can provide a letter.

2 hours ago, MPoll said:

 

I am cautiously optimistic about this but I am still going to keep a close eye on this topic next year as interpretations of the tax law become clearer. 

I too am cautiously optimistic.   I shall bring in a large sum in January that will do us for 2024.  It’s of course income earned in the previous year.  
 

I figure Royal Decree 743 will still be standing at that time. 

Still unsure if we LTR Visa holders will have to do a tax return if no income earned in Thailand and funds remitted are from a previous year.  I’m not volunteering to get a Thai TIN.  
 

5 hours ago, xtof2 said:

So, I got the good news 3 days after posting here that my Application for LTR Wealthy Pensioner was approved.

Since I submitted everything on September 1st (and was never asked for any other documents, it takes way more than 20 working days to get an answer these days...but I also know from a friend it went faster for him a few months ago.

My advice, if you live in Bangkok,  is to go to BOI in Chamchuri to have them call the government agencies to figure out your status ( I did it twice).

I also sent an email last weekend through the BOI platform ...and received an email back from them 3 days later saying it was approved, with a detailed explanation about the process. I just need to update a few documents (the last passport-stamped page, and a medical certificate but for this one, my understanding is that it is only required for the category with work permit). 

So al good !

 

As said above, yes you can visit BOI in Bangkok as much as you want, you can also call the BOI number to get some information/updates about your application

Well done mate and welcome to the LTR “Team”.  
 

We still don’t know if LTR Pensioners will have to lodge a Tax Return given the changed interpretation of overseas remittances.  But as this income is tax free if remitted from the previous years income I imagine no return will be needed if the above conditions are met. 

8 hours ago, TroubleandGrumpy said:

Yes they are very short sighted - both literally and figuratively. Hopefully someone in Thai RD and/or Cabinet will realise that 100,000 Expats bringing in an average of 1 Million Baht EVERY year, equates to 100 Billion Baht - or to put it another way - that equates to 2 Million 'high spending' Chinese Russian tourists they love so much for their money.  But according to some sites there are approx 200,000 non-working Expats living in Thailand (they dont keep official numbers), and that equates to 4 Million 'high spending' Chinese Russian tourists - which they spend a small fortune through TAT to get - and they  welcome with open arms, and 90 days exempt Visas, and the PM saying hello, etc etc etc. 

 

Meanwhile, in return for our 1 Million per year, we are all forced to 'report' every 90 days, complete TM30s, request 'permission to leave/re-enter and pay, request 'permission to stay another year. AND now it could be (not certain) that we are going to be forced to pay income taxes, unlike the Chinese Russian guests - but in return we get zero benefits or rights above what a Chinese/Russian tourist gets while they are in the country. 

 

Yes Thailand is short sighted and ignorant.  Meanhwile Malaysia and Philippines (and other countries nearby) are offering me so much more. They dont all do all this following list, but they all have no income taxes, no 90 day reporting, no annual begging to stay (auto renew 5 years, plus another 5).  Many of them also offer - customs duty exemptions on stuff brought into country, min sales tax on a new car, and a few others - and ............... wait for it (some countries) ............. the right to become a Resident and to buy a property with land (minimum value).

 

My Thai wife has made it very clear - we are not going to pay close to 2 Million baht in income taxes over 15 years to Thailand for nothing in return.  We will go live in a country nearby that gives me/us benefits in return for us living and spending all my money there. Or we will return to Australia and suck it up and just ignore all the woke left greenie crap. Although things may have started to turn in Australia - they just voted 'No Way' to giving the local Aborigines additional rights and benefits in the Constitution, despite all the MSM and all the woke lefty companies and organisations supporting it. Maybe we will go back earlier than planned. 

Errr it was a voice to Parliament only to the people that lived in Australia for 65,000 years before white settlement that was voted on.  No extra rights. Most Australians said no.  
 

But it don’t mean it’s woke to give em them a say - they looked after the country far better than most whities I know.  Best you stay in Thailand Cobber.  Pay your tax and look down on the locals.  Enough said. 

2 hours ago, Misty said:

Congratulations on getting your LTR visa. I'm switching over to the LTR HSP visa and have talked to my company's accountant regarding the difference in Thai tax filing going forward. To date I've filed PND90/91 each year. My accountant has explained in the future I'll use PND95 for the 17% tax rate.

 

Does your company currently file your Thai taxes?  The reason I ask is that the PND90/91 is a fairly simple form (at least as compared to my US taxes) and my Thai accountant fills it out and files it each year on my behalf. Going forward, PND95 should be similarly streamlined and easily handled by my accountant. I've also worked with KPMG for corporate tax issues and have no doubt they can handle filing PND95 as well.

I wonder if Tax Exempt LTRs will have a file a PND??? on Foreign Remittances?   One would think not given it’s not taxable.   Anyway time (May) will tell. 

1 hour ago, Tequila Sunrise said:

I am an honest and abiding person, I accept to pay what is due by the laws of the land. However, in all countries there's tricks and ways for those who understand the rules of the game to optimize things. If it's too murky I would avoid it but if it's a legal trick then why not. Wasn't there a famous anecdote where Warren Buffett legally paid less tax than his secretary 🙂  

 

Good news on the LTR HSP visa application. I went down to BOI OSS office this morning in person. Bright and early, I was stood on the doorstep as they opened. They were really nice, professional and welcoming even though I had no appointment. They looked at my application on the system, spoke in Thai for a while then told me they will ensure my application is progressed. By the time I reached home and checked my email the status has changed to approved and I have made my appointment for next week to go for the stamping. After that I believe I just need to apply for the work permit. No explanation was given as to why the application got stuck but I didn't ask for an explanation and I guess it no longer matters. My tax should change to the 17% flat rate and I guess I should accept that and quit whilst I'm ahead. I think 17% is globally competitive so I have no complaints.

 

Many thanks to all who helped, I hope to become a useful and active member of this forum so I can share back my experiences. I think the LTV HSP is probably the most difficult application? As quite a lot of documentation is required but since I went through the process I might be able to help other who want to acquire this visa.

 

Good on ya cobber.  Welcome to the LTR Club.  Sorry it took so long for you matey but like you said look to the future not the past.    Well done 

2 hours ago, Tequila Sunrise said:

Thanks.

 

I am already here in Bangkok, living and working here for the last 1 year on what I think is called a Non-O visa? The visa was provided by my company. I'm trying to convert said visa to the LTR-HSP to help save on tax liabilities. If I shared how much tax I pay your eyes would water. 

 

Can you/anyone recommend a good/trustworthy Thai accountant that I can speak to about my taxes?

 

I wish I had used an agent to help me process the application. Thai bureaucracy is not for the faint hearted. In fact to share a story I did use an agent. He collected all my documents and then insisted on 65,000 THB payment upfront. I paid and he disappeared 😞 when I contacted the agency to complain about this agent they basically said they cannot help and it is a police matter I should go to the police. Hence, I was off to a bad start and decided to do the application myself and it has been "stuck" for months. I contacted another agency and asked can I pay them to take over but they said sorry they can't take over any in progress application and that I would need to cancel my application and start again. As recommended I will go down to the BOI office and see why things are not progressing.

 

I found the confirmation online that the LTR-HSP is immediately cancelled should I lose my job (I am assuming with no refund on the 10 year fee). It also states that if I move from one company to another company I need to get permission from BOI to continue the LTR.

 

Thanks for reading and helping.

 

 

 

 

Oh that’s a bugger mate.  Sorry to hear some cove ripped you off.  
 

Don’t know if this will get scrubbed by admin but email Kundun and Partners.   Tell them the Australian LTR sent you.  

KhunThanyaluck Thong-rompo
Partner

Kudun and Partners 

M: (66) 98 119 8418 | T: (66) 2838 1750 ext. 1997 |

[email protected]

Good luck matey. 

1 hour ago, JimTripper said:

Visit bangcock.

Agree.  Don’t know where you’re based mate but get to the BOI One Stop Service Centre at Chamchuri Square. I had my Pensioner LTR in two weeks but my wife daughter got “frozen” somehow in the system.  It was Christmas/New Year and we were overseas.   When we got back I visited the Centre and things were done in 72 hours. 
 

2.  Yes I think your LTR is cancelled unless you find a new Employer who you qualify with - Misty will know.  
 

3.   No you can’t claim any privileges until you have your LTR. I’d get a Thai accountant to maximize allowances etc.  

Seriously cobber I’d go to Chamchuri Square with all your paperwork. 

18 minutes ago, Ben Zioner said:

 

 

Where would that leave the "Elite" people? Rich enough to cough up the Tax ? Or will  they just adjust the  number of days  the spend in Thailand?

 

While the Non O people who transfer only 65000  a month won't be relay affected, something less than 3K a month. But they will be the most exposed so  they'll have to pay their bit, I can anticipate the tantrums.

 

Whatever I'd prefer they issued rules protecting all pensioners, and/or Tax per family unit instead of individuals. The 30K per child are just an insult to those concerned.

“Where would that leave the "Elite" people? Rich enough to cough up the Tax ? Or will  they just adjust the  number of days  the spend in Thailand?”

I came off the Elite to the LTR and by golly in hindsight I am glad I did.  At least there is some protection afforded to LTR a through the Royal Decree (743).  Though I am sure DTAs will (should) protect me from extra Tax the LTR does give me an extra level of comfort. 
 

As for Elite Visas, after jacking up the price, there might be some nervous nellies, especially among some groups with untaxed income.   Those Elite Visa greeting staff with the little golf buggy at Swampy might get extra busy as Elite Visa holders make more trips abroad to avoid the 183 day test.