Airalee

8 minutes ago, bkk6060 said:

Is it worth not paying taxes to be there?  

What is the girl scene like?

I’m here with my Thai girlfriend so the girl scene is great as far as I’m concerned.

For single men, I couldn’t really tell you although the women here haven’t ballooned out like people seem to complain about the Thai women doing.

47 minutes ago, KhunLA said:

Don't know where you are getting 600k exemptions from.

 

I did forget about the first 150k is exempt, so that would be 210k (150 + 60).

 

Of course if 65 +, then another 190k exempt.

 

My #s are for single person 50-64 on visa for retirement, with no deductions.  Most negative scenario. 

 

 

 

300k (150k) @ 5% = 7,500

next 200 @ 10% = 20,000

next 90k @ 15% = 13,500

Total ฿41,000

 

That's not worth leaving for.

 

 

Taxes definitely aren't an issue.

Worse case scenario of ฿41,000 

Now run those figures on double the amount (1.6 million) for not married, under 65 with half the income being from long term capital gains.  
 

I thought about transferring $100k USD to use as an emergency fund for healthcare.  I would sell off a small amount of stocks to get part of that $100k so most of my income for that year would be long term capital gains back in the US (Nevada).

Here is the chart showing the federal capital gains tax brackets for 2025

Tell me that it’s not worth bouncing out of Thailand for 6 months when those amounts are involved.

But there are a lot of people who seem to be angry about that and want to give me some kind of lecture about choosing to limit my time in Thailand.  
 

Why should they care what I do?  Why should they even address what choices I make?   Jealousy perhaps?

2 minutes ago, marin said:

You are being aggressively disingenuous right now, fact!  

 

To have even brought this up shows something. We are discussing a Serbian immigrant to Canada and his trolling and you come up with "disingenuous."

 

Who has an agenda? Only you.... 

no.  Telling me that taxes are covering my healthcare is disingenuous.

Telling me that I should pay taxes to pay for potholed roads that never get fixed, dangerous sidewalks that never get fixed, schools that can’t even provide decent educations, even bringing the “street food seller” into the argument is disingenuous.

It’s leftist nonsense.

If Thailand wants us to pay the same taxes as other Thais, then we should get the same benefits as other Thais.  Period.

14 minutes ago, marin said:

There it is the catch phrase, lost all credibility big time. 

Lost credibility?

LOL.

Leftists are disingenuous people.  Own it.

9 minutes ago, atpeace said:

Enjoy Danang 🙂 Nice to have  options.

Yes, it is.

I’m not sure why it bothers people so much that some of us are deciding to pull up roots until the government makes things crystal clear.  

4 minutes ago, atpeace said:

Really! That is not an official Thai document but simply a guide to help international execs in Thailand file taxes. 

 

In the three examples for 3 tax years there is no mention of cap gains -555. They do quickly go over cap gain but simply state it isn't taxable unless you bring those cap gains into Thailand or they are earned locally.  How would you conclude that all cap gains earned will also be taxed at 30% vs the USA cap of 15% is nothing but insanity. 

 

Calm down and re-read the article.  Is that article  the reason for your fear?

No.  And it’s not an “article” like the slop we have been fed by independent tax advisors here on AseanNow.  I trust KPMG a little more than what I read here.

And when the government clears things up so that there are no questions, I will reassess where I want to spend the majority of my time.

I’m quite enjoying Danang this year however 😁

3 minutes ago, atpeace said:

Hmm, and for some reason those saving have disappeared?  Is there a reason you can't keep sending prior years savings?  

I never said they disappeared.  I just wanted to replenish them and pay capital gains tax at 15% and not have to pay the extra 15%.

Be thankful you are in a lower tax bracket.

How much do you keep in cash?

6 minutes ago, JonnyF said:

 

Up to you.

 

But it seems strange logic to reject a 10 year visa on the basis it is not long enough when you currently have to do annual extensions whereby the rules could change from year to year. 

 

A bit like saying a Ferrari isn't fast enough so I'm just going to keep my Suzuki Swift. 

How long has the non-o visa program been running so far?  I expect it will continue.  I’m quite happy with it.

With regards to the taxes, I’m fine being out of Thailand for half the year for the time being.

5 minutes ago, atpeace said:

What ever. You know exactly how capital gains taxes that were paid in America will be handled here in Thailand.  Keep at - it is entertaining.

https://assets.kpmg.com/content/dam/kpmgsites/xx/pdf/2023/01/TIES-Thailand.pdf.coredownload.inline.pdf
 

Section 2.10

1 minute ago, JonnyF said:

 

So you are on a visa that needs renewing annually and 90 day reporting but don't like the idea of a 10 year visa with 365 day reporting that also gives tax benefits, fast track at the airport etc.?

Nope.  Not interested.

7 minutes ago, atpeace said:

You don't know this and you stating your beliefs as fact is what make these threads so entertaining. 

You should educate yourself on how the tax treaties work.

5 minutes ago, atpeace said:

You don't know this and you stating your beliefs as fact is what make these threads so entertaining. 

 

This law is not new and I assume you are also back filing past returns where you didn't pay the difference.  It was due by your definition and you are going to have a big tax bill. 

Up until now, I was remitting only savings.

4 minutes ago, Patong2021 said:

 

So you have never  used or benefited from the Thai transportation infrastructure? You know, the airports, roads, BTS, SRT and domestic airlines?

You may have not had to use the services of  the Thai healthcare, fire or police services but they are all there and will benefit you if you need them.

The people who service your demands at the retailers, government offices, restuarants, hotels et al all have to be educated  and assisted like any other nation does.

The cost to deliver the electricity and water you receive and use are not covered by the user fees. It's the government that pays for the dams and electricity and water delivery network. 

 

And so on.  Unless you are already paying  coprorate and personal income tax, you are most likely one of the majority to takes more than he pays.

Nonsense

2 minutes ago, JonnyF said:

 

How long is your current visa?

Non-O retirement extension.  It can be extended indefinitely.

I’m not willing to take the risk that they will want a lot more money stuck in the bank here in order to get a new non-o based on retirement when history has shown that people at lower levels (they used to require 400k before it went up to 800k) are grandfathered in.

Just now, atpeace said:

 

What about short term caps gains that are taxed higher than Thailand?  What about income in different tax brackets that are taxed different? What about exclusions in one country vs another? What about prior year losses that are treated differently?  The list could go on.  IMO, Thailand isn't going to tax income that is already taxed. 

 

There was a reason for tax treaties and the above what if scenarios was the reason.   Up to you and you may be right.  Again, I'm not going to lose any sleep over something I think is very improbable. 

I’m referring to long term capital gains.  Short term (for a trader) are taxed at income tax levels in the US.  Higher than the 15% I will pay for the long term  In Thailand, those gains will be taxed at 25-30% for me so I would be responsible for the difference between what I pay in the US and what Thailand wants.

Tax treaties don’t mean that you pay 0% taxes here on income taxed already in the US if the tax rates are different.  You are responsible for the difference.

I don’t know why you are having such a difficult time understanding that.

15 minutes ago, JonnyF said:

 

Have you considered an LTR visa?

 

The 90 days becomes 365 days and I believe it also helps with the new tax laws (although being Thailand that is not clear yet).

 

It's reduced my income tax in Thailand significantly. 

I won’t consider the LTR visa because it is only 10 years.  

3 minutes ago, Patong2021 said:

 

Nice try. VAT does not cover anywhere close to what the government is spending for your benefit.    In Thailand, VAT represents 33% of tax revenues. You receive far more in services than you contribute in VAT. 

 

Tell us specifically what the government spends for our benefit.

Submarines and fighter jets?

We certainly aren’t getting low cost healthcare.  And the infrastructure isn’t worth paying hundreds of thousands of baht for.

Your tax situation might be different.  

30 minutes ago, Jonathan Swift said:

Here's where consulting an expert helps. I read and have been told that if you have documentation showing you have already been taxed in your home country Thailand will consider that income exempt. I don't know if it only applies to certain kinds of income, but there is supposedly an agreement between countries regarding this

No.

It depends upon the brackets and if Thailand has a higher tax at a certain level of income than in the US….which is applicable in my personal situation, we are required to pay the difference above what we already paid in the US.

For example.  If something is taxed at 15% in the US and 30% in Thailand, I would pay the 15% in the US and then the difference of 15% would be paid in Thailand.

42 minutes ago, atpeace said:

I get it but seriously doubt you will be taxed twice on the same income. Might happen but in my estimation the odds are tiny.  Personally not going to lose any sleep over it.  

It’s not about being “taxed twice”

Capital gains tax in the US is 0-15% for my tax bracket.

Here, at the bracket I am in it would be up to 30%

Legally, I would have to pay the difference which is quite significant.

It’s not about “might happen”….it’s just the way it is.  Thai capital gains taxes (on US based investments) are taxed differently.
 

Your tax situation might be different.

I’m not losing sleep over it. 

5 minutes ago, placeholder said:

Epidemiological evidence shows that they will be more likely to dance on yours. Is there any particular dance style or song you'd like to request?