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Presnock

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Everything posted by Presnock

  1. drinking plus smoking dope! gonna cost him dearly! plus the injuries to all costs too!
  2. I haven't paid any Thai income tax ever and really don't plan on it due to DTA and LTR but being TIT, who knows if the current scheme will continue once all the problems start with the Tha Revenue Dept come 2025 and tax form times for remittances nor if the other even more popular scheme could even pass the parliament if they even floor the bill. Now is not the time to panic as some folks seem to be doing and in probably most cases none of this will really affect most of the expats. Unless the revenue dept does change the current laws on obtaining a tax ID and filing with no assessable income then I foresee nothing to do at all for me as I have to file my US taxes which I do along with the FBAR both done in January every year. No complaints from me there nor here really as I still just love life in Thailand.
  3. I noticed you were interested it appears that you are interested in locations around the world with better treatment tax wise than here....if I am wrong, sorry but I also get notes from "Nomad Capitalist" and they provide a world map with all the different taxation schemes so you might google them and get on their mailing list as they keep folks informed on treatment wise and taxation wise for nomadic folks. good luck
  4. You may need at some point to meet with the Thai Revenue Dept to explain to them that you are living off of your savings - will have to prove that the savings acct is pre-2024. Just like me, at some point I am sure they will want me to prove my money is only a US govt Pension but can easily prove that so protected by the DTA.
  5. AGREE wholeheartedly! Myself, I am waiting for the Thai revenue Dept to amend their tax laws that say I even though I don't have assessable income that I must get a Tax ID number and file for taxes even though I don't have any assessable income. Until then, I will ignore the revenue dept office as I await their latest scheme announcement...possibly when the "NEW" tax forms come out in Nov-Dec maybe.
  6. because many of those other countries have not been collecting taxes from their homies nor have their homies advised them that they are not paying taxes anywhere else either - duh, that is why 138 countries signed the OECD agreement plus CRS FATCA US tax collectors.
  7. Though many expats here may have been required to get a Thai tax ID and to file tax forms here (after becoming a Thai tax resident have not paid income taxes here previously as that was a"gray" area, they may be required now if they have assessable income to get a TIN and file taxes. If American, you already should have been filing for US taxes so you might check the DTA to see if any of your income is currently non-taxable in Thailand. If you do have assessable income in Thailand, you may have to pay some Thai tax if it is more than that taken out by the US....i.e. US tax rate is 10% and Thai tax rate on the amount is 15% then Thailand could charge you for 5% of that amount. There are still some countries (for example - the Philippines does not charge retirees on their income/pensions while other SEA countries are doing the same as Thailand for the future. Very complicated and at this moment while one might think about it, we wait for the final forms to come out and the finale judgement of the Revenue Department for this year only on remittances. This new scheme may never come to fruition especially in the short term.
  8. Yes as part of the change to this new taxation should it occur, they would also have to amend their rules getting a thai tax id as well as filing tax forms whether one has assessable income or not. Until these changes occur, no one need to do anything.
  9. right on the last question - 180 days of the same calendar year broken up anyway you want.
  10. just visit your local Thai revenue dept office and ask them - get it from a proper source - others have been told that the number will be the same as your pink card - I don't really know but people here are all experts but funny how their answers differ!
  11. If your US tax is less than that of Thailand, then Thailand could legally tax you on the difference. If the other way around, then you are stuck with the US tax only
  12. go to the revenue dept webb page - in Thai and or English
  13. the draft of this possible law is only being discussed at this time.
  14. Yeah possibly as China was a signatory to that OECD agreement of 2023 like the other 137 countries.
  15. most are probably below the minimum amount to be assessable as income here is very low for the majority. But, there are probably quite a few that have been working the system to avoid paying any taxes on income to any country, thus the new taxation scheme here and I am sure in other countries too.
  16. 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.
  17. why do men have nipples?
  18. After the OECD agreement in 2023 the numbers are shrinking. But the PI is still wanting retirees to come for a stay.
  19. The article linked earlier mentions that the RD did not get enough money from buyers of condos this year...now they should be reading the "results of the remittances" not being written this year due to this new law.
  20. 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.
  21. Absolutely, too many people not paying income taxes to any country...so 138 countries signed onto the OECD agreement...US already has FATCA and CRS to share banking data to catch the non-payers...l that is what all this about, not something dreamed up by the Thais.
  22. The immigration folks shouldn't question you in Dec since one would not be required to file income taxes until the 1st quarter of 2025. Funny how the expats jump on the Thais for the way they respond to laws yet those expats are just like the Thais in my opinion.
  23. Yeah and same with the locals on the Thai income tax laws too...just because they are basically ignored by the police but if immigration gets involved eventually it could affect the expats here. I don't foresee any problems immediately and who knows, it may never happen in our lifetime.
  24. 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.
  25. 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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