GeorgeCross

maybe he decided to make himself rich rather than wasting his whole life making someone else rich.

in hua hin its 50.. and rigidly enforced too 😂

does anybody know if we have to leave every 90 days on a multi-entry non-o or can extend each entry (so leave every 5 months?) also can we border bounce the entries? or have to stay overnight?

they'll "just pop down to the Winchester until this all blows over"

theres generally an extra box you can tick that states something like: "a tax number is not required in my country"

possible, and the #1 reason i've pulled future projects. until i know for what and for how much i'll be taxed, i'm keeping it all offshore where its safe and snug and will sell assets here to fund my continued (now temporary) stay.

paying taxes isn't a problem, most on here i suppose do or are prepared to pay somewhere. but getting double taxed, withheld on remittances, buried under piles of paperwork or blackmailed on exit certainly are. all are currently in the air until shrodingers (srettas?) tax box is opened.

well those who said it will curb investments in this country.. i can confirm, at least in my case, even the uncertainty will. after a long talk with my wife we've just shelved 2 property projects worth 15M baht until things are (much) clearer. i know its small beans to some but if we're doing this others are certainly considering it. now looking at european property instead.

wouldn't they just roll the unpaid tax to the following year? nothing states it restarts each year only that it can be collected any year " you bring 1M baht farang but owe 2M. pay 1M now or no visa.. "

try 35% tax because thats the band 4M is in

google "thai gift tax" loads of resources but its basically up to 20M per year to spouse children or parents - of which i have the full set here.. nice! wife mentioned unlikely to change for 3 reasons: 1 dowry 2 buy property for spouse (money gift) 3 for thais to send money home to parents while working abroad now the only question here is: will they only tax income remitted or demand the full amount payable (to extend visa etc) will wait for those answers. in the meantime our property projects are on hold. as is her new car!

i wonder what would happen if in your case you transferred 845K under the proposed rule or 100K for that matter. 100% claimed as tax or 30% ? and if in the latter would the balance rollover to the following year? devil will be in the details.

think it applies to all tax residents, thai or foreign but not sure it was only my take. here's the link you can try read yourself f you want: https://www.rd.go.th/english/37749.html

its "up to" not 20M only send your wife her housekeeping + beer money every week if you want!

that would solve many problems - do you have a link for infomation about this?

i get that, but if given a choice which do i send? income to be taxed or my savings to buy a condo? and how would thailand know the difference? they won't, so the onus will be on me to prove legitimacy and in that case i won't bother, i'll buy an asset in a friendlier state

i'm sure they will let you bring in your savings AFTER you have paid your income taxes for every previous year.

i believe you are required by law to register with the tax office if you are liable to pay taxes and as pensions are covered under section 40 as an income you will all have to. hope i'm wrong as my local bars will get even lonelier, but thats my reading.

yeah but thats the dumbest thing ever, 3 months in london and 3 more in dubai and you can recieve a tax free lump sum from your freshly incorporated wealth management company. it should also be noted that the wealthy generally keep their wealth offshore to protect against rogue governments and capital controls, not to avoid tax. tax is easy to avoid, their companies hold and pay for everything. any tax paid is just a virtue signal or a cost to do business in a high corporate tax jurisdiction.

your visa status is irrelevent, if you are here more than 180 days in a tax year you are a tax resident of thailand.

this would mean you would be liable for tax on all income for ALL of the time you have spent in thailand and would have to pay all of it before you could actually get a single $ into your thai bank account!! for some that could be many $100Ks. yikes. that would be madness, all transfers would stop immediately, people would spend down their thai balances, sell up and leave.

at this point its far cheaper for my wife and my 2 kids to live in the uk (no intl school fees) and only the tax situation balanced it out. if they invoke this or withold on all incoming remittances we'll leave no problem. if have to pay tax on global financial income i'd rather do it in a modern country with modern infastructure.

yep if you make $1M in investment income you would need to pay the thai gov $375,000 before you could transfer a single dollar for living expenses lol caribbean anyone?

actually a better headline ????

hope not the farmer next door left two pineapples on the wall last harvest!