Presnock

Up to each individual - I always believe in following the rules of what country I live in. Here, I know the rules, follow those rules - have an LTR (WP) and only a US govt civil service pension so I don't have any Thai tax ID nor am I required to file for taxes as I have no assessable income. good luck to you and all the other expats out there. I am filling out the FATCA form and W9.

All one really needs to do is study the history of the Soviet Union, then that of Russia. Border countries were required by Russia to give up their nuclear weapons in exchange for a guarantee by Russia that they would invade or bother those border countries in the future. BUT, looking at what has transpired,it is just the opposite. None of the border countries would have even considered attacking Russia. But all have some fertile lands, valuable assets within those countries that Russia wants so Russia also knows how "weak" US leaders really are and most EU countries too have gotten weaker instead of stronger since WWII in my opinion. I am not a war monger by any means, I spent 10 years of my late teen and 20's involved in the VIetnam conflict, inlcuding over 3 years in that theater getting shot at regularly. Whether or not I agree with that conflict, is besides the point - I voluteered for the military and accepted what they trained me to do. I have spent more time living and working outside the US than inside the US and recognize that not a whole lot of folks might agree with my political views. But like all of them, I accept that there are alwaus differences, especially due to our backgrounds and exeperiences in life. I am 78 years old and definitely set in my beliefs.

expattaxthailand yesterday 20 February, indicated that several folks with an account at the Bangkok Bank have received the FATCA/CRS letters that must be filled in and signed. Readers will recall that in Dec of last year, Kasikorn Bank sent out the same letters which certify whether you are an American (FATCA or CRS) person and that the banks are required by the US or other countries' tax agencies in order for the local banks to continue serving you. If one fails to certify the necessary information, then supposedly, the banks could either lock you out or close the account altogether. One can google Kasikorn explanation on filling out the forms or check with expattaxthailand.com and they too have the info on filling out the documents. The text is Thai and English and is fairly self explanatory in what is needed. Good luck. Once filed in, W9 can be downloaded from the US IRS website and needs to be filled in by American Citizens along with the FATCA document and taken to the bank also.

Actually, Trump and Co. just watched as Obama let the Russians take Crimea and Trump has never lambasted Obama for just that even though he seems to have an "Obama" hate for which I can't fault him but to repeat Putin progaganda is non-excusable to me.

reminds me of the great negotiated deal with the Taliban - turned out that Afghanistan is now back to the Stone Age. Trump seems to me to be the unltimate non-negotiator, give away anything, just get out of that "deal" and blame any misgivings on the other side.

IMHO based on the years of I have read stories of extensions of stay based on marriage and retirement, folks seem to be less impacted by the extension based on retirement vs that based on marriage. Yes, financially based on retirement one must keep more funds in their acct but then the list of necessary requirements seems to me to be much more intrusive upon one's life in regards to immigration needs. In either case, best of luck and DrJack seems to be pretty knowledgeable on immigration matters.

from all that I read and hear about it, sounds like you definitely do not but as a farang, I can't give you advice on filing of taxes.

Well I am a total novice in anything to do with the OECD but when I read the last few notes on this forum, I googled the OECD and personal income taxation - YOU sound like a novice compare to all the data the OECD has on personal income taxation around the world and one of their touted reasons for the 2023 agreement was for people not paying their required taxes and/or money laundering. Anyway, Thailand obviously wants to join the OECD as well as other international organizations and conforming to the majority of tax programs, will probably continue changing the financial situation here.

if you recall, at XMAS time both the ASEAN news group and AfrIca news group reported that in fact the worldwide income was passed along with the 15% corportate tax, then when the Finance folks were questioned, the whole story changed to the 15% corporate tax only. Guess some powerful folks are not too happy with that change. Wonder if we will even see it this year to begin next year.

well for those around a couple of years, anyone remember a senior guy being put incharge of one region, put a stop reportedly to agents, so within a short period was relieved of that senior position and eventually kicked out of the govt altogher. Too much graft to block all those agents I guess unless we just do not know all the facts of course. Could just be our imagination I guess.

yeah finally, here in BKK I was one of the few that regularly reported daily unsafe 2.5 micron levels every day....now the govt after over at least a year is admitting it too. Biggest chunk of the local news in Thai daily!

do you imply or mean that those communist mafia types don' t have to deposit 800K or 400K in a local acct to stay here?

do you know if they have to have the same seasoned money in a local bank acct to get a visa to stay here as westerners need to do?

I have been saying the same thing for over a year. I began feeling that when a local lawyer type did a webinar and mentioned that he had heard that there was not much agreement in the financial world with changes to the worldside income tax scheme and a lot of arguing among the players. Then when nothing happened around XMAS time that several other multiple country org had a briefing from the Finance folks saying that an agreement had been reached but then they only reported on the 15% corporate tax and nothing on the worldwide income bit so rigtht then that even confirmed my feelings even more that too many people with POWER just didn't like it. So, either they will have to get off the pot or dump on expats...guess we'ii see.

even if they decided to drop that benefit from the LTR it wouldn't affect me at all, as I mentioned that wasn't why I opted for the LTR, my DTA says only the US can tax my pension as it is for CIVIL SERVICE and thus exempted still.

graft knows no limits nor source of funds - many times senior politicians or police are caught up in these schemes, I am not saying that is a problem solely in Thailand but in just about every country I have lived in.

At what banks? do you have a stateside address, phone number? I lost an account BOA of 50+ years when I sold my house. Refused to use a relatives but found a bank in VA that accepts overseas address with very little problem.

Definitely facing overtourism this year IMHO, reporting 4.5 million visitors already!

this is one change that is affecting those that played by illegal rules IMHO and anyone that the banks close an account that is done with the customer's own funds is paying for someone else's actions. I realize that leaving that money in the bank and havint the immigration requirements on same is not very conducive to attracting foreigners of all types so now we will see how many will leave because of this but never really know how many just decided they wouldn't come her in the first place.

well, if folks used their own money for the necessary 800K or 400K accounts for visas then there wouldn't be any problem - people have shamed agent users false accounts but IMHO some IO's had to know the full scheme too. W all make our own choices and those that make bad choices sometimes negatively affect those playing by the local rules and I am amazed that so many people look down on the honest folks as the fools when they should look into the mirror.. We note also due to some of the problems caused by the new international laws, banks in many countries are making it more difficult to open or keep accounts of those living overseas. Eventually, I hope all can play by the rules and still survive in some of these foreign countries. Good luck.

yes, same with me, I don't transfer all my pension from the states to here - it goes to a US bank then each month or so I send funds needed here for whatever. But if the rd challenges me, or requests verification of exemption, first triip would be a copy of my pp with the LTR with the BOI copy of exemption on any foreign funds I remit to Thailand.

my bank deposits say that the pension money is "civil service pension deposi from OPM"

only separating pre 1 Jan 2024 and any earnings from current income that you put into that same account. just need the old SAVNGS account separate from any income after 31 Dec 2023.

If you mix old savings with current earnings then you might have a problem getting the Thai revenue dept accepting your tax form unless you have documentation separating the savings.

only if one's financial situation is complicated or widely varied for sources. Mine is civil service pension only which is not taxable by Thailand, only the US so mine is simple.