Presnock

US pensions in most states even federal are taxed on residents. If one claims a state that does tax fed pensions, then that state also takes their "fair" share. The US has a double-tax agreement with Thailand but says that the resident country can still tax the money for which the US will then make up for any taken out by Thailand. But if the amount of tax on pensions/savings as unearned income us as low as reported, I don't thing too many people will be double-taxed. US fed pension sure don't go in the several hundred thousands of dollars a year and govt employees do not get that amount of salary. Salaries are provided for all to see. But, I will wait until the final law comes out and can then match up with what should be legal or not and how I will have to report it.

No I am honest, have been for 77 years so why change now? Trump got multi-million loans from a lot of banks, and yes those banks most likely all made money when he repaid them but the problem is that banks have a limit on how much money they can loan out at any one time so some poorer folks were unable to get a loan as Trump had used up the banks quota. Then when tax time came around, Trump and his family dropped their home and businesses' values below their true amount so that he paid less tax - check his history, many years as a self-claimed billionaire, he didn't pay any taxes at all. This is all factual and can be found by checking. Once in Itay while jogging early AM kept finding lira along the side of he road. I of course kept picking it up. After a while no more money, but about another mile or so I saw a wallet along the road. It had one or two bills in it but in my mine, that money I had found probably came out of that wallet. I turned it in to the authorities. I was taught young in life to be honest - if a store person gives me incorrect change in my favor or their's, I always make sure to correct them.

So correct, loan you money at one interest rate and then money that they have loaned out and been repaid at a higher interest rate is then loaned to you at a higher interest rate. They are using monies from others to loan to you. Something like Trump and his family did for years - tell the banks their housing and properties were worth tons of dollars when they weren't and getting cheap loans but telling the tax people that their properties were much cheaper.

I have been told and read it too, if you have a US passport then it is free entry into Korea - have you checked to see if a Brit p/p can do the same?

No, I hear/read that the US economy is zooming right now while many other nations are hurting. But, query any working class person in the US and they will tell you that life sucks if they don't just punch you as they too are pissed off about their financial status. The only folks who are not being swamped by the interest rates due to "inflation" are the really rich people. But all the working stiffs are PISSED off. I chat with folks back home and they all show me the horror stories of trying to buy a house or car, credit card interest rates etc and gas prices zooming. If you see any US news it will be about the workers in just about every industry on strikes for higher wages and better benefits.

I queried "greenbacktaxservice.com" that sent me an ad for doing my ex-pat taxes and FBAR but I do my own without any problems and they indicated that if I had any tax or FBAR questions, they would respond within 24 hours or so. I asked about the double-taxation on US pensions and international agreement with Thailand. They answered the next day saying that even with the agreements, the resident country could still tax those pension funds but that then the US would lower the US tax dollar for dollar. And on any earned funds, the US has a lower tax for overseas residents paying taxes to the US. That is their website and you can just email them and ask your tax questions or FBAR questions if any too. SO, it appears to me that if the Thai govt does insist on my paying any tax on my pension funds sent here then my US tax will make up for it. But what I would probably do is use my US credit card more than I do now or plan to do so that I would be sending fewer US dollars here and that will cut the amount that they would normally get from me. Their loss for my troubles. For all, good luck with whatever the "next" scheme will be. Whenever you exit the country, you'll give them an extra 300 baht!!!!

Not only the burning of fields, mushroom hunters, etc in Thailand, surrounding countries of Asia also burn big time - right now Singapore and Malaysia are complaining to Indonesia about their smoke causing very heavy smog in their country. I have been living off and on in Thailand since the 70's and during the "burning" season there is always smog. In BKK previous to going unleaded gasoline locally the smog seemed to be heavier but after the mid-90's, it did improve but now weather patterns seem to be affecting the smog areas more. NASA also has a satellite showing fires burning and during the burning season, south and south asian countries are almost all RED. A good quality mask is a must as are air purifiers. Some international schools also have air purifiers and have had them for years if one has kids in school. Hard to escape without leaving the region for a few months of some relief but smog in BKK is hard to avoid. One can also buy a cheap 2.5micron monitor from Lazada/shopee and they are more accurate for one's immediate area.

yes, the very first thing my wife had to do to get started was to have relatives that were still around when she was born and they had to go with her back to her original birth province. Fortunately one uncle is still a police colonel so that helped but other relatives too had to go. Then she got lucky at her new school when the family moved to the big city and someone there changed her birth number. An older teacher had to go through boxes of student registrations to find my wife's original / changed number as nothing was computerized. Yes, a very long and difficult 6-7 months of going to every level of government bureaucracy to change everything.

Well the US IRS will lower your tax bill dollar for dollar on your unearned monies that are taxed in Thailand plus the US govt gives you a lower tax amount earned if your residence is overseas. Check with greenbacktaxservices.com They will provide you with answers free of charge re taxes and ex-pat.

got married, late planned a trip to US as daughter would go to college. When we applied for visa, wife needed a copy of birth certificate here - found out someone when her family moved when she was 11 years old, changed her birth number. Thus she could continue using that new number on all her documents (but really illegal) so she opted to correct that. Talk about bureaucracy!!!! took 6 months or more...have to start at the bottom and work one's way to the top. Seemed that every level had never heard of and the main office in BKK had to advise each level until the provincial level and then they said that they saw such activity every day! having to get mooban chiefs, local chiefs at every level to come and confirm what she was doing. She had a headache daily from this. Since you are in the UK, it would seem to me to be impossible but... good luck in any case!

for alll the ex-pats concerned with this coming tax on our monies - last week I received an email from Greenback expat tax company...([email protected]) who advertized their ex-pat tax services. They asked if I had any questions about taxation here - of course I did and asked about the double taxation international agreements. I was surprised at the answer. They also gave me an answer about the FBAR which I had been doing without need at over the past couple of years but now that too is changed. Anyway, I learned that US citizens can be forced to pay taxes to a country with an agreement and that dollar for dollar paid to this country can then be deducted from my US tax payments. I do not know if they also provide any infor for other countries but one can always email them and ask. Good luck to all!

might want to check Portugal about taxes...saw an article yesterday about that!

I hae heard thatit may be possible but I really do not know for sure. I know that my wife will want to do that in case of my demise. Good luck, maybe someone else can advise all the info on that...might need to contact SS and ask

from all that I read, the bank statements show how much "monthly" is transferred and includes multiple deposits. BUT, the only problem I have heard of is whenever the deposits do not meet at LEAST 65K but, TIT and while I have been retired here for almost 20 years, I am not an expert by any means.

I use the 65K monthly monetary extension each year. From everything that I have read including numerous questions and answers on this forum, If I were you I would make sure that every month you transfer at least 65K into your Thai bank from abroad. Sending exactly 65K each month can be hazardous unless you check it out every month to ensure that there is at least 65K transferred into your account. Good luck.

I too agree we should wait until we see the official announcement of implementation of this law. But if one makes any money via interest on savings or income from outside Thailand, then unless the persoin can show officially that they are required to pay in one of the countries with tax agreement with Thailand then one might have to pay taxes on that income even though it might not meet the taxable criteria in one's home country. WE just have to wait to see what they really think that they are going to get from the long-stayers. Hopefully they will realize it is an effort in futility if they have to work with all the foreing governments.

Their announcement indicates that one must be here over 180 days a year to be taxed. Some news indicated that the original decree indicates that countries with a tax agreement wouldn't double tax folks either nor would they tax retirement funds (unless they were coming from interest drawn on savings, IRA's or what ever) that are earned each year of retirement, so like the US, Social Security or government/military retirement funds would not be taxed. But, =TIT and we have not yet seen the formal official annoncement so many folks are maybe wasting time even worrying about what might be. We have nursery stories about killing the goose that laid the golden eggs.

Great response! Last updated almost 2 years ago but most likely still accurate. It would seem to me that they would be creating more problems instead of making more money but that doesn't stop them from trying to squeeze every cent out of the farangs who spend money here the entire time they live here!

Yeah read today's healine too that he was chatting and laughing with the gambler at a party so that must make him guilty. I was only comparing our senior folks with the locals. Sorry you got upset, you must be one of the many hate-Americans here. Too bad, your loss.

Yessir because so many people just voted not so much for Trump but to deny Hillary CLINTON an opportunity, now we seem stuck between a rock and a hard place as they are both EVIL and we need new blood. Among the hundreds of thousands of citizen eligible one would think that the parties could find an honest person to name as candidate!

The reason for the new bank rules, comes not from any official finance office of home country but from the judicial (justice in USA) office whatever they may call themselves and originally was set up to tackle the money laundering schemes or non filers I think that is what I read anyway when they did it. I could use my daughter's US address but don't want to ever have a possible problem with the Justice Department so I joined the SDFCU bank in the US and have had no more problems.

Yessir, Thailand doesn't consider you a resident either but they sure do want every penny they can get out of (us) you.

Yeah, most of the polls that I have read always amaze me that they get such a response from readers in that most polls done by valid reporters actually give the reader the number of people interviewed and the numbers are about a thousand to 1500 people and they write about a national election? of hundreds of millions of people. For their polls, the reporter just has to go to a local district where the preponderance of voters are of the same candidate/party so that the results are definitely skewed and can be skewed in any way that the reporter can get an "exclusive" report!. My experience and just look at what Trump did in 2020, he thought he would win by a landslide due to "polling" but then, it seems many people from his own party were not choosing between Trump and Hillary this time so they opted for the lesser of two "evils" in my opinion only of course. But Trump had alluded to this happening long before the election even took place as he obviously knew too many of his party didn't think he was qualified to be the prez for an additional 4 years. My opinion too of course and one can just ignore it or agree.

I had more than 35 years with BOA when they came out with that same notice, only I wasn't given 6 months to clear it all up. Fortunately for me the state dept fed credit union along with Amer citz overseas allowed me to open an account with my Thai address. I am not sure if someone wanted to open an acct and is a foreigner if they can join the myriad of folks around the world that fit into your category. If you check the SDFCU.org address, you will see the many different organizations if one is a member of, can open and acct with this bank. So far after 3+ years, they have provided excellent service. Not sure if that helps but can also let you bank legally.