
Phulublub
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Everything posted by Phulublub
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Slightly off topic, but have you considered that in a global property market downturn, you will get less for your UK property, pay less tax on the profit, but your Thai property(ies) will also cost you less. If you wait until the UK market picks up, you may fuind that Thai prices have risen the same, or more...and there is also the currency risk to consider. The overall difference may be very small and if your long term intention is to sell in UK and buy here, then the best time to do it is "now" subject, of course, to selling your UK property at a reasonable price. PH
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Since it is highly unlikely that anyone sending enough money here to buy condos would have earned that money this year, your conclusion is incorrect as such money would not be laible to any tax. I very much doubt anyone who earned enough in Januray to be able to transfer it to Thailand to buy a condo would do that; even if they did, would care about any possible additional tax over that they had already paid, unless they are money laundering, in which case they would happily pay the tax to "clean" those funds. PH
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Revenue Department Contact Reports
Phulublub replied to Mike Lister's topic in Jobs, Economy, Banking, Business, Investments
Did you ask them why you did not need to file? Paying tax in home country, or having income that is exempt by DTA, is not (from what I have been able to read) a reason for not filing in Thailand. If you remit above the threshold, then you are to file a return, even if that return will result in zero tax being due. If you can give us clarification of reasons behind why the RD said do not file it would be helpful; otherwise, while what you were told may be believed to be true by the official who told you, it may not, actually, be the correct answer. PH -
Your 800K is a total red herring. Yes, you need to import what you need to live on and that may be more, less or abut 800K. But as has been said many times, much of that income, for many people, will be exempt under a DTA. Other money remitted will also be exempt if it was earned before the start of this year. PH
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Wrong. You only need to bring in 800000 ONCE. If already done, then all you ned is annual living expenses, and many will have exempt pensions, already be paying tax in income in home country and will thus be liable for little or no Thai additioanl taxes. PH
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Which could be a link to anywhere for anything....post proper link if you want people to look. PH
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Many bars do English breakfasts - Sportsman, Nicky's Witherspoons, CheapCharlies, Kungs. All have their devotees; best you try for yourself! Siamburis has an online shop https://expatfoodsthailand.com/ They delievr throughout Thailand; local delivery is free on orders over THB 1000. PH
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New Thai Tax On Remittances??
Phulublub replied to giogio's topic in Jobs, Economy, Banking, Business, Investments
Is that a "feeling" or do you have some evidence that will be the case? PH -
Spread the word! More Brits in Thailand can now vote in the UK
Phulublub replied to webfact's topic in Thailand News
Stop talling nonsense. SOME people MAY get pesnion Credit as an addition to their State Pension. https://www.gov.uk/pension-credit PH -
Spread the word! More Brits in Thailand can now vote in the UK
Phulublub replied to webfact's topic in Thailand News
It is a benefit, and it is taxable. PH -
New Thai Tax On Remittances??
Phulublub replied to giogio's topic in Jobs, Economy, Banking, Business, Investments
Anotehr way of looking at it - and comparing with, for example, ISAs... ISA taxed on the way IN Pension taxed on the way OUT PH -
New Thai Tax On Remittances??
Phulublub replied to giogio's topic in Jobs, Economy, Banking, Business, Investments
Broadly correct. The whole point of a DTA is that you are only taxed once. The devil in the detail though is that different areas may attract different rates - think income tax bands, CGT allowances etc - that muddy the water and make calculating outcomes a little difficult to generalise about. The biggst potential for UK is the personal allowance is much higher there, so earn £12K and have no UK tax laibilty, but could have one here if all transferred gere. PH -
New Thai Tax On Remittances??
Phulublub replied to giogio's topic in Jobs, Economy, Banking, Business, Investments
You can argue that, but would be utterly wrong. Your payments to the Governmebt when you were working made to eligile for a pension. There is no pot of gold being built up with your name on it. What you paid in was, inpart, paid out to those drawing pensions at that time. what you are now receving is being paid for by those paying tax now. While it is classed as a benefit in the UK (not sure classification in other countries), it is taxable and is actually income. PH -
Confusing situation
Phulublub replied to BenStark's topic in Thai Visas, Residency, and Work Permits
Not all Countries are the same. I agree with those that say the OP is cutting things fine, but otherwise it is sensible to use a decent timeframe for renewal. It used to be, for example, that UK passports renewed within six months of the expiry date would get ten years starting from the old expiry date. No loss of days, weeks, or months by applying early to ensure all done before next travel. Following a quietly unannounced change UK passports are now valid for ten years from the date of issue. Not a huge issue, but a stealth price hike of, potentially, up to 20%. If the UK turned applications round as quickly as the OP's country, two weeks, then less of a biggie - but take five or six weeks, so adding in some safety margin, about three months would be a prudent timeframe IMV. PH -
Must Read Thailand starts checking foreigners' passports on domestic flights
Phulublub replied to webfact's topic in Thailand News
Which law? Link, plese....I think you will find it is "ID" which is very often laziy translated as "passport". -
Must Read Thailand starts checking foreigners' passports on domestic flights
Phulublub replied to webfact's topic in Thailand News
Nope. Thai DL always accepted for me and, on the odd occasion I have forgotten it (mine lives in my car so if a passenger...) the photo of same on my phone has done the job. PH -
Must Read Thailand starts checking foreigners' passports on domestic flights
Phulublub replied to webfact's topic in Thailand News
I dont remember the last time my passport left the safe except for annual extension and foreign travel. PH -
Legal Tax minimization for foreigners
Phulublub replied to smokie36's topic in Jobs, Economy, Banking, Business, Investments
In the same way savings transferred here by us for ourselves may be assessable income by the Thai Regulations, then it may be assessable income for her. That she is Thai makes no difference and to comply, she should complete a tax return but may not have any tax to pay. PH