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1 hour ago, EVENKEEL said:

I'm always amazed at how hard working folks spend their money on crap. Especially the wages Thais work for. All my years in US punching a time clock, I brought food and coffee from home, hardly ever, ever did I eat out. So, here in Thailand a guy making 500 baht a day spends 50 baht on lunch, that's 10%, to me that's stupid. The mentality of living life day to day is why so many Thais have nothing when they're old. Much the same as US I want to add.

 

Which is why it boggles my mind when a place like Starbucks is so popular. 

 

 

It's the same everywhere, but this behavior is necessary. We need people to work and consume, not to save their money.

45 minutes ago, DrJack54 said:

Does the "couple of hours" include lunch break.

Get a visa better option 

Very helpful. 

Getting a volunteer visa would also be a nice perk, but I'm interested in actually doing something for at least a couple hours a day.

I noticed that most volunteer visas are given by agencies and it's pretty obvious that the "volunteering" part doesn't really exist, or it's not really relevant.

How easy/hard is it for an orphanage or hospital to give a volunteer visa to a foreigner, assuming I cover all costs? Do they need to be part of a certain scheme in order to give volunteering work permits?

11 hours ago, Gottfrid said:

In my opinion, that ATM does not seem to be put there by any bank. Must be one of the third party machines. I would never trust an ATM that was  placed in such position.

I'm more concerned about the position of the fire extinguisher, against all guidelines...

On 11/23/2023 at 9:28 PM, OzzBlizz said:

 

I lost 50 brain cells just by seeing the video thumbnail.

9 minutes ago, BritTim said:

 

The wording of the school's letter, stating that you planned to stop and giving a future date, is exactly what you want. It means the permission to stay is terminated with effect later, giving you time to leave (or, for some people, have time to arrange a new extension).

Technically, it's not what I wanted though.

I completed the full course and since the ED visa is supposed to be for one year, I just left after both the course and my year were complete.

I can't quite wrap my head around the need for this. Aren't ED visas supposed to be for one year? Or are they actually endless and require a cancellation?

I mean, what happens if I don't cancel it? Can I keep extending it for years? It doesn't seem to be the case, so the logic here is a bit strange.

Thanks everyone for your answers.

I ended up doing the cancellation at immigration.

One thing that concerned me is that the letter from the school stated that it was my intention to cancel the visa, instead of stating that the studies had finished.

I am not sure if this is normal practice/irrelevant. 

1 hour ago, The Cyclist said:

 

Sure

 

Do you really think  $$$ 7 digit income people spend $5000 annually travelling to avoid a bit of a tax ?

 

BKK - London 1st class return on Emirates is $5000 in itself, then add on the extras.

 

Now, low $$$ double digit people I could understand slumming it to save a bit on tax.

Lots of fallacies and assumptions in your post, and you're avoiding the original argument. 

Let's get back to it: you said that it's impossible to spend $5k a year traveling because a 2-week trip already costs $5k.

My answer: it's possible to travel a few times a year and spend $5k. Rent apartments for 1-2 months and live like a local.

Whether the person doing that is a billionaire or a broke student is irrelevant. The fact remains.

10 hours ago, The Cyclist said:

 

Seriously ?
 

US $ 5000 a year travelling. What are they travelling on, an elephant ?
 

A good 2 week holiday including spending money will cost you close to $ 5000 for 2 people.

Not all traveling is a "good 2-week holiday" in a resort or being all day visiting attractions, doing city tours and buying souvenirs.

Traveling can also involve renting an apartment for a couple of months somewhere to live there almost like a local, with the occasional night out or museum visit. 

My school prepared a visa cancellation letter, but I'll be leaving Thailand anyways and come back next month as a tourist, or apply for a new visa.

Do I need to take this document to immigration before leaving? It seems that the visa should be automatically canceled if I leave and don't apply for a re-entry permit, wouldn't it? What's the point of the cancellation letter if I'm leaving the country anyways?

Experiences? Thoughts?

Thanks.

4 hours ago, Geir Rasch said:

Not sure what you mean with tax-free capital gains. If that means that it is money never taxed, sure you should pay tax in Thailand. If the money is already taxed in USA I cant see how they will be taxed again in Thailand. 
This is money of a different world than what live in, so about this I know nothing. My consern is about pension and salary ????.

????‍♂️

11 hours ago, Geir Rasch said:

Well, we may differ about his. If there is a tax treaty between Thailand and your country, that is to avoid double tax. Tax paid to Thailand for this year will be deduct from tax in your country. Savings from earlier years are finished tax in your country, so it would be double tax if it also was taxed in Thailand, and that is what the tax treaty are ment to avoid. So I do not think there will be any changes from todays practice. Time will show which of us are right ????.

I don't think you really read my post.

In the past you could actually bring capital gains into Thailand without paying a dime in tax, legally. You could bring a million dollars of tax-free capital gains if you deferred them till next fiscal year, and invest them in the real estate market in Thailand. All legal.

Starting next year, you won't be able to do that. If you bring a million dollars of formerly tax-free capital gains, the tax in 2024 will be around $300,000. That's a couple of properties lost in tax.

So it does make Thailand less attractive for resident investors. The solution is to stay less than 6 months per year in Thailand to avoid having to pay those $300,000, or invest the money somewhere else.

24 minutes ago, CartagenaWarlock said:

Your 180K USD pre tax income must have at least 20K US income tax obligation after all deductions besides FICA. You can deduct 2500 USD taxes paid in Thailand from your US income tax obligation legally to avoid double taxation. 

 

I know this is a troll thread, but yes, you're right, you can then deduct it from your US income tax obligation. The end result is the same though, and one would still pay 2500 USD in taxes to Thailand.

LOL the story sounds so fake.

My guess is that someone read the buffalo story while having a drink in Nana Plaza and came up with this sh*t.

31 minutes ago, Karma80 said:

As a couple of well off Thai friends said, it's OK, we just won't bring the money here or use other ways.

That probably won't last too long though.

It wouldn't surprise me if in a few years Thailand just starts taxing all foreign income, adds wealth taxes, etc. especially when they realize that it's easier to do than this remittance-based system.

37 minutes ago, Lorry said:

This would be the logical conclusion of Q8 and Q9.

I think it would work the way you describe it, 2024 and 2025 only.

 

But another poster has warned already that if you repeat this forever they probably won't accept it.

Well, if it's the law, it's the law. It's what the rich people will do then.

So, to clarify: the new 'loophole' will be to alternate living in Thailand in that fashion: stay 179 days one year, the next one the full year, 179 days the following year, then a full year, and so on.

That way one can always have a supply of tax-free money to bring into Thailand.

16 hours ago, alien365 said:

I would have thought tourist confidence is also related to how tourists expect to be treated while here. It has probably plummeted partly because previous visitors did not feel welcomed enough to return. I've seen how badly some businesses here speak to tourists and its disgraceful. The unfair acts of dual pricing and overcharging also leave a bitter taste for many, including me. Thailand is also no longer that cheap. Prices have gone up, but quality continues to remain low. 

Yeah this is unfortunate. Many of the people who came to visit me and do some tourism around Thailand experienced that bittersweet feeling, and some even told me that they were treated disrespectefully often.

Not all Thais are like that though, and I have to admit that Thais are generally very nice people. But many of them treat foreigners in a noticeably negative way. I've even learned that part of living here is having to deal with that on a daily basis, even if it's from only 10-20% of the Thai population.

But naturally tourists will not love that feeling and a lot of them will think twice before coming back.

1 hour ago, Lorry said:

Q8 endorses the obvious solution: bring your foreign income to Thailand in a year in which you stay less than 180 days in Thailand. This solution was mentioned in the main thread, it had been recommended by a big accounting firm. 

 

Q9 clarifies once more that only foreign income from years in which you were a tax resident in Thailand will be taxed (when you bring it into Thailand) - so all your saved income from the time you lived and worked in farangland will not be taxed.

 

 

Interesting. In that case, suppose that in 2024 a person stays in Thailand only 179 days. That person can bring as much as they want to Thailand and it won't be taxed.

Now, suppose that same person, in 2025, spends in Thailand the whole year. Would they be able to freely bring money earned in 2024, since the foreign income from 2024 was earned while they were not in Thailand?

2 minutes ago, Geir Rasch said:

There is nothing new about this. Has been for many years: income you bring to Thailand the same tax year you earn it, is taxable in Thailand, savings is not.

If there is anything new, that must be enforsing it. Some time ago I asked a person at RD why they didn’t cowork with immigration to ensure that foreigner (retired) pay tax. The answer was that few thai retired people paid tax, so they cannot use a more harsh practice for foreigners. May be that is about to change?

Yeah but now the year doesn't matter.

Let's say that you sell stocks in USA today, for a capital gain of $50,000, and bring that money to Thailand next year (2024). 

With the new law, those $50,000 have to be declared and taxed in Thailand. In the past, those $50,000 were legally tax-free and didn't need to be declared. USA doesn't tax capital gains of non-residents, and Thailand didn't tax deferred income.

So, yes, that changed, and makes Thailand less attractive. Yes, I know, you should pay tax blah blah blah. But it's not a good deal to pay tax in a country that gives you nothing in return, no social security, no pension, no healthcare, no sidewalks, not even the possibility of volunteering at a local hospital.

Good weather, cheap prices and easy girls, but that gets old after a while...

What if I bring savings from money earned in 2002? Do I need to show my 2002 tax report?

Saw the video and it's boring af...

I guess these are the strip clubs of the 21st century? And TikTok is the wild porn of nowadays?

I seriously feel bad about these kids. Back in the Middle Ages we had public baths where orgies took place. And now we are supposed to think these dumb and boring dancing moves are 'crazy' and 'sizzly.' ????‍♂️