giogio
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Posts posted by giogio
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11 hours ago, Mike Lister said:
Ah, ok, I understand the services you referred to. Assuming you were tax resident when you acquired the service, the way in which you pay for them, directly or indirectly, doesn't alter the fact that you imported funds to do so. Same as if you used a debit card, from an overseas bank, you are importing funds from overseas to pay for something you received here in Thailand. If you ask me if that direct payment is more difficult to detect, yes of course it would be.
In a nutshell:
U answered all my red tape questions
in a concise nutshell:
thank you
to make a short story long:
during the night a user hinted at a personal decision over thailand/greece.
Not only in my opinion, the advantages of being in thailand have faded away or at the very least have shrunk to the point that i find my mind swaying by the hour (should i stay/should i go?)
In 10 dd my extension of stay expires.
Thank you mike and to all contributors
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6 hours ago, Mike Lister said:
I'll reply later today
mike
when you have time, i would appreciate your opinion on "transferring to pay for services"
thnx
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3 minutes ago, Everyman said:
No
No
No
Nothing
Wow that was easy.
Unless the banks start withholding a portion of incoming transfers or immigration starts requiring tax documents for visa extensions, then the “new rules” do not matter, especially for people in your situation. And it will be a cold day in hell before either of those two scenarios happen.
The revenue department probably has a few Thai “bad actors” in mind that they want to go after. Uncle Somchai isn’t coming for anyone’s beer Chang fund. I also doubt they will try to tax incoming funds for condo purchases.
It’s all a big juicy nothing burger with extra cheese, but the panic has been great business for dodgy tax lawyers peddling their own bull<deleted> interpretation of the supposed changes, and who have strong financial incentive to keep the panic going.
Before commenting on wishful thinking, i advice you to read this thread and the attached tax guide.
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39 minutes ago, zombie nights said:
OP:
The current practice of the revenue dept is NOT to expect retirees to pay taxes or file any tax return. Nothing in the new regulations changes that so far as what we know.
If some retirees are persuaded by scare mongering here to file returns and pay taxes then so be it.
i advice you to read the thread and the attached link to a thai tax guide with an open mind (as opposed to a wishful mind)
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17 hours ago, Mike Lister said:
What you were told is correct, some transfers may be taxed, depending on various factors. Please read the document and come back with any questions
hi mike
i read almost religiously the "tax guide" you compiled
allow me to say:
-i wish you a full medical recovery (myself i have suddenly got the need of a knee surgery, which implies the transfer of 6k euros, on top of my usual yearly living costs)
-very grateful for your work for the community
-sorry that someone tailgated the thread and did not stop when he was made aware to stop.
now to my question:
if i pay a service in thailand directly from my european bank (either via fintech like WISE/XE or bank2bank), eg 1) i transfer the 6k required for my surgery directly from my eu bank to the thai hospital bank account. eg 2) to pay condo rent, i transfer directly from my eu bank to the thai landlord bank account.
the remittance would not arrive in thailand to my name nor to my bank account.
would these transfers be considered by thai inland revenue?
thank you
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6 minutes ago, bkk6060 said:
So, when you go to Super Rich to exchange the cash you have to provide a copy of your passport, phone, etc. If they collect all this information, I assume there is a way for the government to get access.
The law is about remittances from abroad
the cash bill wood is talking about, could have already been in thailand
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11 minutes ago, KannikaP said:Confusing. Quote from Simple Tax Doc.
If we take the simplest type of income and say that you transfer personal savings from overseas to Thailand and those savings were earned before 1 January 2024, those funds are not taxable
Every year (in my europe bank of course) a treasury bond matures, so i receive the bond plus interest. In the same account. Then periodically i transfer here.
how can i possibly know which is what?
I can say i transfer some of the capital, and keep the interest in europe
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6 minutes ago, Will B Good said:If I transfer my 400,000 each year for my extension and then just use a credit card for any further expenditure does that avoid tax? Is it legal? Or will the costs associated with transferring money like this be greater than the tax?
I travel once or twice a year to the UK.....can I just bring in a suitcase full of cash each time?
Or should I just read the tax laws...555
I am grateful to everybody (particularly mikelister) to help me clarifying (it does not mean wishful thinking that i only appreciate what i like to hear)
having said that, one more year than i wave goodbye to thailand.
as always heard by whoever was here before me a decade ago, rent rent rent. Never invest here, not even for visa.
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20 minutes ago, KannikaP said:
Using the above tax allowances etc, anything over 400k is liable for tax.
You must register for a TIN if your income is over 120k.
I dont produce income nowhere
i use my saving in europe which i transfer here monthly
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Just now, Mike Lister said:
What you were told is correct, some transfers may be taxed, depending on various factors. Please read the document and come back with any questions
Can you allow me a final question? (then i go and read “tax guide”
if i stay here all of 2024 (and i will transfer money to thailand) then before march 2025 i leave thailand moving on to cambodia/Philippines.
Can i simply ignore this new red tape situation?
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14 minutes ago, Mike Lister said:You will almost certainly not have to pay tax on your remittances but you you will have to wait until the new rules are announced before your other questions can be accurately answered, with any confidence. In the meantime I suggest you read the simple guide to personal income tax, in an adjacent thread.
I will read your mentioned guide
what new rules need to be announced? (Or, did u mean to say: we hope changes of current new rules?)
i visited a provincial inland revenue last week, spoke in depth with chief director. First he told me was: “foreigners seem to misinterpret the rule”. Provincial Inland revenues have already been instructed by govnmt that remittances will be taxed according to certain criterias. He gave me copy of govnmt instructions, the forms to apply for TIN and told me to come back by march 2025 to file tax return.
that s why i posted on forum
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2 minutes ago, KannikaP said:
Do you need to transfer 65k per month to keep your Retirement Extension?
No
and i use a specialized agent for “ret visa”
i really keep no money here
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Dear tax expats and experts
i live in thailand with “retirement visa”, here i have no wife, no business, no work, no money in thai bank that produces interest. I do nothing in thailand that produces money and i will stay single forever.
i only have my savings in europe (and in few years a little pension), so every month i transfer what s needed to pay bills overhere.
Per year my remittances to thailand are over the threshold of 120.000 baht
with this new thai tax in mind, does anyone can point me to to where i should be looking the answers to the following questions:
-will i need to apply for a thai TIN by december 2024?
-will i need to file a tax return by march 2025?
-will i pay taxes on this remittances?
-how much would i be expected to pay?
Thank you all for contributions
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- Popular Post
5 hours ago, foreverlomsak said:So you're on annual extensions, why don't you just extend for 1 year more (only 1,900 Baht, a lot cheaper than a border run) and leave when you like. When you leave do not get a re-entry permit, that will get what's left of your annual extension cancelled.
for visa i use an agent
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16 minutes ago, Pattaya57 said:
You didn't ask a question in your PM?
All info is in my trip thread I linked to. After reading that any questions just ask here.
thank you
i had not realized there was a link attached. my pardon
does the same company at queen victoria inn in soi 6 runs the 3.000 baht 9 seater?
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5 minutes ago, Liquorice said:
OK now I understand. You're on your third 1-year extension of permission of stay
It was how you worded your question. You can't extend a visa.
Follow @DrJack54 and @Pattaya57 advise.
It shouldn't be a problem to enter VE, then extend for a further 30 days.ok
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2 minutes ago, DrJack54 said:
There are two different visas.
Seems that you are on 12 month extensions from a single entry non O
There is a multiple entry non O.
That visa has a validity of 12 months and you must exit every 3 months.
When you reenter you are stamped in for 90 days.
Hence if you exit and reenter just prior to expiry of your ME Non O you would be stamped in for another 3 months.
i have been in thailand for 4 years uninterrupted without ever crossing border, doing my 90 dd report
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30 minutes ago, Pattaya57 said:
My border run was a 6 seater van with luxury seats for 3700 baht from Pattaya (you can get 9 seater for 3000 baht).
This included the Cambodian visa and coordination at the border to help make it go smoothly
i pm you to know more. can you please pm me back?
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17 minutes ago, Liquorice said:
Sorry, do you mean a 3rd entry from a Non Imm O multi entry visa.
If so, if you make a border run just prior to the visa expiry date, on re-entry to Thailand you'll be granted a further 90 day permission of stay.
What date does your Non Imm O visa expire?
i am on an extension.
i dont understand your concept. are you saying that if i exit and reenter before my extension expires, i would be granted 90 days? (though i have never heard)
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i am on my 3rd extension of non-o-immi (retirement). italy passport.i plan to leave thailand once this extension expires, but i will require 2 more months of stay to see the end of my rental contract.i am based near pattayahow should i do a border run? and where? is better laos or cambodia?and what are the requirements both side of the border?my plan would be:at the end my extension i exit thailand and enter cambodia at nearest entry which is poipet, where i get tourist visa on arrival.how long should i stay in cambodia to be allowed back to thailand on a 30 days entry stamp?and what are the requirements to reenter thailand? (flight out, cash, etc)then in thailand i apply for a 30 days tourist extension.is there anything flawed with this plan?many thanx for contributions
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On 8/29/2023 at 2:53 PM, xxeo said:
Had to do the same verification process these days. Went smoothly.
i dont have the same experience. can i write you privately?
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On 8/27/2023 at 10:59 AM, Eff1n2ret said:
If you really need an alternative, I have used OFX - https://www.ofx.com - for the last 14 years. Originally I knew them as UK Forex, but I am sure they operate in the USA as well. I just transfer funds when I need to top up my Thai accounts or when the exchange rate looks relatively favourable, and they quote for Thai Baht on the spot for whatever amount of GBP I am exchanging. The rate may be slightly less favourable than Wise, but there is no transfer fee. After I've paid them from my UK account the funds show up in my Thai account in 24 hours, unless I deal on a Friday, when it might be Tuesday before the money arrives. They use a correspondent bank in Thailand (which I think is SCB), so if showing income in your Thai account as an international transfer is important, this would be a problem for you; it doesn't bother me. SCB syphon off about 200 or 300 baht before the funds reach me.
As far as verification of identity is concerned, it was quite easy at the beginning because I was still registered as a voter at the address I had left in the UK. I had to re-confirm with them a few years back, which involved a phone call and a couple of emails, otherwise everything is very straightforward.
It works fine for me, but if I had to prove monthly income international transfers I would probably use WISE.
can i write you privately? if you can outline how the OFX platform works. thnx
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1 hour ago, BritManToo said:
Had to do the selfie and passport photos when I opened my account years back.
Nothing required since then, usually transfer 50kbht/month.
i am pretty sure i did some form of verification when i opened it 2 years ago, and obviously i only use it to transfer
i will wait until midweek if the red banner disappears.
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the thread is about WISE verification issues and alternatives to WISE as currency changer and transfer
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Motorbike buy/sell documents
in Motorcycles in Thailand
Posted
Dear ladies and gentlemen
Motorbike buy/sell
Green book on foreigner name
What are the documents required to sell it to another foreigner? banglamung DLT
And what are the documents required by the foreign buyer?
Grateful