Everything posted by Presnock
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Bank transfer after 1st Jan or now?
Actually even with a DTA, countries including the US indicate that the residence country can charge tax on earned income and most of those countries also reimburse their citizen for the same amount charged by the residence country on money already taxed by the citizen's country. Usually, pensions are not included in the earned income...though I have read that some pensions do fall under the"earned" income bracket. BUT, we still do not know the exact thing that the Thai government is going to do. Tomorrow the Thai American Chamber of Commerce will be at the US Embassy and via ZOOM will respond to questions and give what they know to date about the roll out of this tax. I will listen in, and afterwards will send a note telling what was said about this tax and how it might affect ex-pats.
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face masks
besides that, the air pollution is getting bad already. The govt issued a warning due to the pollution for folks to wear masks
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Despite Washington’s confidence, US war with Iran would be disastrous
When I left high school in '64, joined the military in June, then Gulf of Tonkin, so instead of computers which I didn't have an idea what they were, the military decided I would be a Vietnamese Linguist and I spent most of 3 years in that area including 2 within VN 66-69. When the country called, I went without a complaint. Would do it again if I thought it would make a difference and that the military wouldn't be ignored by the politicians, most of them have never been anywhere near combat nor do they plan to do it themselves. Other high ranking politicians let their children join the military but keep them away from the bad areas.
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PM2.5 crisis first major test for Srettha’s government
not a global problem, but a regional one - South Asia and SEAsia burning fields forests sugar cane, etc from India, Indonesia, Malaysia, Myanmar, Laos,Cambodia, China and yeah Thailand. NASA has a satellite that scans for open fires - look at North and South America, then look at Asia = from India east to the South China Sea is is bright red while the western hemisphere is green. I know even with the forest fires in the northern Americas, the red is still only a small portion of that area.
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Eye infection
Yeah I used to get them due to the air pollution and running on sidewalks next to busy roads. After the 2nd or third time I went to the hospital and the doctor informed me that the eyelid had several tiny infections close together. After some drops in the eye, she cut out the infections and told me to keep the bandage on for a few hours. That was ove 10 years ago and after that treatment I haven't had any more problems with the eye infections. Like above, for eyes, best to have a doctor look at it.
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Bye bye Thailand, thanks for nothing!
I agree, any earned income here in Thailand should pay income tax. My money was earned over 40 years working in other countries but I paid the income tax to the USA. Now I get a pension from the USA govt and they tax that money too. They have a DTA with Thailand and if Thailand decides to tax my pension then the US govt will pay me back those funds paid to the Thais. What do you think a Double tax avoidance agreement between governments means?
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Bye bye Thailand, thanks for nothing!
I also realize that tghe host country (where one has 180+days of residence) IAW the DTA can charge income taxes - therefore at least the USA reimburses those taxes paid to the host govt.
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Bye bye Thailand, thanks for nothing!
yes, if I didn't already pay tax on all that I receive (already paid tax when I originally earned it) and to avoid making people pay double tax, the sole purpose of the 59 countries that signed such an agreement with Thailand. If I was "earning" any income here I would gladly pay a tax on that money. I spend over 3 million baht per year here in Thailand, including tuition for schools from middle school through college. I paid for my house including taxes and for the yearly muban fee.
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typical retiree (foreign home) situation
As a US cit, I worked overseas for many years, had several houses which an agent took care of. Great renters paying for my houses but after I retired, I sold all because I was a resident of Maryland, a state that charged a fairly high state tax on any pension, property taxes, etc and even if I went back, then they would claim that since I returned to MD, I should pay state taxes for those years gone so I sold everything or gave it to my family there so, if I was to decide to leave Thailand (very doubtful) then I sure wouldn't ever return to MD and that is why I got rid of everything tying me to that state. Agents are okay sometimes which we learned over the years and finally had one that took care of our property the same as if we were there but not having to even think about storms there or other problems, makes it much easier and glad that I got rid of everything.
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Bye bye Thailand, thanks for nothing!
Even though if they were not exempt, I as a US citizen would be reimbursed for any amount taken out by the Thais, just the additional hassle of having to do the added paper work would just be another unneeded reason for some to leave. There is not much that the Thais could alter in the immigration status that would drive me out but, who knows just how far they might go for the chance at another baht/dollar. Anxious to listen to the 15 Dec presentation of the Thai American Chamber of Commerce to see if anyone has the final plan coming out in Jan.
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US Passport renewal
In mid November, I decided to renew my US passport which was due to expire in May 2024. Went on the embassy website, filled out the necessary documents, and forwarded everything including current passport to the Consular section of the US embassy. Today 9 December, I received my new (and old cancelled passports. Much better than the predicted 6-8 weeks from start to receipt of new passport. Thank you consular section and State Dept.
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Bye bye Thailand, thanks for nothing!
Also some pensions are considered earned income, federal pensions not so.
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Bye bye Thailand, thanks for nothing!
There are other monies that are considered earned income - read the definition of same. Or to a US govt webb site and ask what is included in "earned" income. Easy to find and understand.
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Bye bye Thailand, thanks for nothing!
how can it reduce? tax office in home country will only reimburse that money taken by the Thais
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Bye bye Thailand, thanks for nothing!
you need to read the definition of "earned" income. A US govt pension is not considered earned income. The Tax agreement says that Thailand could still tax me too but that the US IRS would then adjust my US tax bill for the same amount taken by the Thais. Only the hassle of filing that crap, no loss of money.
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Bye bye Thailand, thanks for nothing!
no matter what, from the USA anything taxed by the Thais on retirement pension will only lower your USA tax bill for that year or reading the tax laws, could lower your tax the following year. You still have to pay one or the other and don't have a choice on the USA portion of your pension.
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Bye bye Thailand, thanks for nothing!
again, so far the only written thing I understand is "earned income" - as a holder of a retirement O, I can't work or receive any benefits for doing anythinig here...no wages, salaries or other "earned" benefits. so I am not worried what 1 Jan will bring. ButTIT and they can change their interpretation of any agreement made by former governments.
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Taxes refund
Not to start any problems but as it says in the above "earned" income...most retirees are here on a pension and a retirement visa person is not allowed to work to earn a salary or benefits of any kind.
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Family Remmitance
I do blv that is the same custom in most poor countries.
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Bye bye Thailand, thanks for nothing!
Yeah, check out O and his stand on Iran - now the world is going to pay for it. Just ike little rocket man or a cockroach, if you don't stomp on it immediately, millions more will follow that original one.
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Bye bye Thailand, thanks for nothing!
Well, the problem is not that they claim a different meaning, it is the "Thainess" of the meaning for the tax law that THEY are writing. And that should still be "earned" income which means something entirely different to them and us maybe.
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Bye bye Thailand, thanks for nothing!
I do believe that the first comment about paying for immigrants is the western-world problem today and that is why the far-right politicians are enjoying a better ride in elections. You sure don't see the folks from countries ruled by autocrats mentioning this problem do you?
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Bye bye Thailand, thanks for nothing!
Also, many of the states in the US also tax both SS and govt/mil pensions!
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Bye bye Thailand, thanks for nothing!
Agents too enable those without sufficient funds from what I see on this forum.
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Bye bye Thailand, thanks for nothing!
yes your English language understanding is co Yes you understand the meaning that English-language word - but those who are deciding the taxes, are Thai and they may translate to something totally alien to us. Wait until Jan to find out for sure.