
Presnock
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Everything posted by Presnock
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Obviusly - the reason for this change to worldwide income taxation is because so many people have never or do not pay income taxes to any country.. Taxation agreements need to be read by the expats from whatever country they come from so that they know if they have to pay taxes in their country or to Thailand if they are a tax-resident here.
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why do men have nipples?
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Nope, just an American, we have had to pay our "fair share" on income since we began work as teenagers. now that 138 countries want their share, all the expats are screaming. I realize that we expats are short-changed on rights here but that is part of being able to stay in Thailand. Other countries too are going through this exercise while some i.e. the PI recognize what the expats bring with them so have written their tax law to help the retirees to stay cheaply.
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I used ENGLISH only documents to obtain the LTR visa through a Thai office. I understand though that many people will have documents from other than English providers and that would cause a problem. My documentation to avoid any Thai taxes on my pension can easily be read by non-English as the number speak fo themselves. Yeah I am fluent in Thai but it wasn't necessary for my visa.
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ENGLISH is the "official" international language here. No Thai documents were necessary for obtaining the LTR through the BOI. I think that there will be folks that can understand the numbers of those documents that I use from the US government anyway. Only need to recognize a very few words - besides the numbers which are universal.
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The main reason that 138 countries signed onto the OECD 2023 agreement was to stop non-filers of taxes on income to any country - Americans have always had to file every year so this was not so much to "catch" Americans but the other folks from different countries. But yeah, I think that there might be some Ameicans here too that will be caught up in this. If your income isn't protected like that in the US DTA then your country didn't write it in any agreement they have with the Thais.
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Right now, they are waiting for the individual to honor their yearly earnings report but if the RD learns from local banks or CSR reporting about how much you remitted, they might ask you to provide evidence that it is not assessable income. Not sure how this will come about but they sure seem to be looking for every baht from expats possible.
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Yes same iwth US govt pensions, we are provided with a 1099R which shows it comes from the OPM, shows annuity yearly, shows taxes with held and probably health insurance. In addition if necessary one can always show the annuity statements provided by the retirement folks at OPM also which shows monthly money paid, taxes paid especially the December/January statement.