Presnock

should be able to do it yourself unless you have some particular problem area.

yeah, and I was asking what the Thai rd is doing with those countries - I know people and news talk about certain other nationalities other than westerners here. I couldn't possibly care more about those countries' tax systems, just how their expats here are being treated. As a matter of fact, I usually skip the westerners here too as they have really complicated financial systems and getting all kinds of guesses on how to proceed from the Experts on this forum.

getting a good start on outing illegal immigrants - the US already has one of the most open immigration allowances in the world so why allow an invasion of illegals and states take citizen monies from the citizen programs for these illegals. Even allowing in some cities/states people occupying vacant houses as folks go on vacation or such and then can't even get back into their house yet have to pay to keep utilities going and property taxes even while they have to fight for that property in court! Sick people allowing this crap!

Funny, I seem to hear about other countries all the time. If you are upset about it just ignore it like I do for most stories.

Actually, they did an agreement in 2016 setting up all the procedures a 12-page document. But Thailand didn't enter into full signing until April of 2024. So, since they knew what was coming, maybe some banks got ahead of the game and prepared to enter fully as soon as Thailand signed it. I plan to ask the local BB this coming week. If I see nothing else from anyone about it, I will pass on what the bank tells me.

Who knows what tax system will be in effect in the future, possibly in the near future. The Thai rd will continue to search far and wide for any single baht!

Has anyone heard anything about the other countries i.e. Russia, China, Iran, N, Korean citizens having to go through all these changes too? Just wondering

Having lived and worked overseas for the past 60+ years, I noticed the same problems everywhere, EUR, US, Asia, Africa, Central America - politicians all seem about the same - some good most not.

I have the forms from expattaxthailand as some of their customers had BB accounts and did receive the forms. Exact same forms. Banks must provide the information on the account holders. If BB already had the necessary info they could send in the forms but without one's signature stating that you are a US citizen, plus filling our IS form-9 providing your local address in Thailand, confirming your ss# and your local acct number. Since we are required to do FBAR and 1040 reports on our income, those numbers all have to add up someplace being equal. I will check this week with the BB locally and see what their story is.

All international banks have to exchange documentation on their foreign customers in order to contnue doing internatonal banking. If your bank does not do this process, then it may affect your international banking. If one does not believe that this could happen as mentioned in the main document, then just google the international banking agreements signed by the US and the rest of the world.

unless processing of the taxes of that employee for 2024 which is taking place now and the school is probably involved...don't really know but reading of corrupt policies regularly here, it just makes me wonder.

IMHO starts at the bottom and works its way up!

yes and some farangs brag about contacts with certain IO's that for a small fee each time, papers are stamped withou the agent involved. This is blatant corruption but the farang could meet the requirements, just didn't like having to wait with the rest of the gang.

some people follow the rules that most do and some feel it is "beneath" them and they will do whatever it takes. One can complain but if a foreigner in a country can't meet the requirementsthen they should look elsewhere. IMHO anyway

hence corruption opportunities arise...recall a new chief, cancelled agents/corruption, cost that job and eventually ruinned him career wise. If folks don't have the rquired funding, and they get same from an agent/agency, that is itself fraud and the farang participating in such fraud should be penalized too IMHO. I don't especially agree with all the taxation wihtout representation on some kind of benefits, but I do believe that one can take advantage of the multitude of visa opportunities to hopefully find a perfect fit - that which I have found in cost and especially in benefits versus what I did have for many years. Just saying, I realize that some may not be able to come up with the finances but there is a reason that the govt sets a price. And reading daily from the Nomad capitalist info, countries around the world are changing their immigration requirements too, some getting much more expensive, very few if any cheaper. Thailand is still a much cheaper than most other places with more varied visas. Good luck to all in staying here or elsewhere.

Well if there ever was a question of why they go through life like this, notice that whenever they report the numbers of tourists at a local or national level, they always include the amount of monies made off of those tourists! That is the only considertation IMHO, just like now they are talking about changing the regulations on the sale of alcohol - going to open up the flood gates in order to make "extra" billions of dollars off of the tourists. PM said just that! yes possible but then they might just announce that for a small fee they will let the foreigners leave.

yes as of now but if one believes that crypto will remain in the "dark" zone, I don't believe that govts will accept that and will eventually put some kind of control on those funds too. IMHO anyway.

Both forms are included. The first one you certify that you are or are not a US citizen and then some other about dual tax residents, etc. The FATCA part is for American tax residents and for which one needs to download W9 form from the IRS website to go along with the FATCA portion. One is for the US only, CRS is for others but same forms as the Kasikorn bank in December, this is a requirement of the governments that signed on to them and failure to provide the documents as rquested by the banks could cancel your account as they HAVE to report that data on your account.

from what I read about the FBAR, which I have done for years, it says if one hasn't filed one previously, but then files one's missed that the DOJ doesn't penalize that person. Bes to file for all that you should have, or write to them and ask what the procedure is you didn't realize you needed to file that document. If you continue ignoring the responsibility then there is a penalty though I forget what!

but only making deals in which he is the winner, not either side except it appears that he favors Putin over Ukraine.

ME too!

that website for the revenue dept should read rd.go.th/english

yessir you are correct...my personal feeling on Trump is that he is 100% inside his own self thoughts when making ANY decisions and really dangerous for the world when in his current position. I am sure he feels that Putin will determine how quickly they will end the war and then Trump will tell the Ukrainians what he wants for making ?peace? for them. He is a total idiot, raised with that silver spoon stuck in his throat which may have caused brain damage and at least then he could get a tad sympathy from non-MAGAites. You are totally correct in that most Americans don't think much of any other country in the world, only thinking about 10-15 miles from where they live and where many haven't lived anywhere else even within the US.

great and complete response!

It is fairly simple if you are an American anyway. I am basically ignorant when it comes to complicated finances. Mine are straight forward IAW the DTA if you have read it, exempts social security and US govt civil service pensions from taxes as ONLY the US can tax those very specific in the DTA article 20/21 explain what is exempt. One if they are aware of the DTA then they would see if their income is assessable or not. If you have other income, interest, rental properties, IRA, state pension, etc especially if you are an American, you are required to file taxes on those incomes. The US will tax you and supposedly IAW the DTA, you should be able to get a tax credit (as the Thais will tax you IAW their charts) and then you can file with your 1040, for a tax credit. If your finance situation is complicated, you can use a tax agent to help you file. expattaxthailand.com has a 15-minute free consultation on taxes, plus they have an estimator online but I am not familiar with that so anyway, there are other tax agencies too but like I said my finances are super simple and I also have an LTR so not foreign income remitted by me is taxed by the Thais. They can also give you some pointers probably on the DTA and local Thai revenue dept office if they claim they know nothing about the DTA. If you do not have assessable income then you do not have to get a tax id nor do you need to file for taxes. I am a foreigner so can't advise you on taxes here but what I have passed to you can be found on the Thai revenue dept website in English. "tr.go.th/English" Good luck with your taxes