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Phulublub

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Everything posted by Phulublub

  1. You talk about Private Pension, but then about Government Pension...which is it? My understanding is that Government Pensions (those earned by working for the Government, not State Pension) are taxed at source in UK and this cannot be changed. PH
  2. Before you start commenting on the newly installed PM, maybe have a go at his six predecessors who also did the square root of diddly squat (except waste millions on a useless "send them to Rwanda" idea and more millions on an equally useless barge.... A long, long time ago, I suggested the whole EU (of which we were then a aprt) should patrol the Med, pick up all the baots crossing from Africa, land the passengers back on the COuntry they had set off from and sink the boats. The cash line of migrants would have stopped years ago (and we would acually have room and inclination to take those who deserve asylum here, like those from Afganistan who helped us but who we left high and dry when we left). PH PH
  3. Other income may also need to be reported...share dividends, rental income, capital gains and others; we may also have to declare our exempt (Government pension) income as well even though that will not give rise to any liability. Until we see the forms we don't know. In fact, until we see the exact wording of the legislation we don't know. How will my ISA dividends and gains be treated for eaxmple? I am fairly relaxed as I have full statements of all assets as at 31 Dec and will be able to show that all funds remitted here since 1 Jan are from exempt classes. Barring anything unforeseen, I have several years' grace before I need to think about extreme mitigation factors that might be needed (in whcih case, moving "permanently" back to the UK to get the State Pension uplift might be the way to go.... PH
  4. Personally, I am content to pay tax if legally required to do so, and in the country where I live. If that is globalism and a bad thing, then sign me up as a spam (whatever that means). I live in Thailand and would much rather pay tax here (where I may see some benefit) than in UK (where I will never live again) and where I will gain zero benefit whatsoever. In my case, my Government pension is taxed at souce in UK and there is nothing at all I can do to mitogate that. PH
  5. Ordinarily it does not, but for a nomad who does not qualify as tax resident in any of the countries thye stay in for shorter periods, then tax residency may rvrt to citizenship. It is certainly agrey area for the UK as some HMRC advice suggests it is, but there does not appear to be aby legislation on the matter.. PH
  6. Being tax resident nowhere could very well mean that your tax residency reverts to your citizenship - in the case of the OP, given their username, that would be the UK and they may well find them selevs liable to UK tax on the whole of their worldwide income. Without knowing individual circumstances there are too many variables to know whether that is better than being tax resident here or elsewhere. For myself, I am content that if/when the new Thai tax legislation for remitted income becomes fact, I will have no tax to pay over that which I have already paid (and cannot avoid paying) to the UK Government. YMMV PH
  7. Indeed...and if Cambodia decides that, because you are not tax resident anywhere else, then you default to being tax resident there, they will tax you on your worldwide income. Makes Thailand's proposals seem rather generous! Do hope the OP has done some thorough reserach! PH
  8. Which wars did USA start in th last 50 years? PH
  9. If saving a bit of money means everything to you, and you want to spend 6 months a year in Phnom Penh then go for it. PH
  10. Who is "they"..I cannot see where the quote comes from. AFAIAA, the TRD does not distinguish between foreigner and Thai citizen - and they are the only agency that counts. Some random journo, or AseanNow poster's (incorrect) terminology is not relevant PH
  11. And they do not need to be. ONLY those selected for audit, and only then those who the TRD decide may not have told the entire story with their tax return (or lack thereof) will need to have any checks made. Once again, it is the responsibility of the individual to accurately report their tax return and the figures contained. Probably my last contribution to this subject as people appear bent on inventing ever more implausible scenarios PH
  12. No. You have not remitted any funds to Thailand. You are, howver, importing goods on which you will likely have to pay import duty.
  13. I have an account in the UK. I withdraw £££ and come to Thailand where I exchange for THB. I have remitted funds that may or may not be assessable depending ENTIRELY on the source of those funds. I have an account in the UK. I transfer to my Thai bank account electronically. I have remitted funds that may or may not be assessable depending ENTIRELY on the source of those funds. I have an account in the UK. I use the debit card associated with that account to withdraw THB from a Thai ATM. I have remitted funds that may or may not be assessable depending ENTIRELY on the soruce of those funds. I have an account in the UK. I use my UK CC to buy something in Thailand and settle the CC balance from my UK account. I have remitted funds that may or may not be assessable depending ENTIRELY on the soruce of those funds. ALL cases are, in tax remittance terms, identical. Before anyone comments which can be tracked (easily or at all) by Tax authorities is totally not the point. Legally, it is up to the individual to report their tax affairs accurately; what each individual chooses to do is up to them but should be totally outside any and all discussion here. PH
  14. This - and other posts - again implies that we are the targets of these new measures; that the Thai authorities have us in their sigts as the means of raising vast quantities of extra tax. I do not believe this is the case. The measure is aimed at Thais who earn foreign income and send it home - previously seasoning for a year to avoid any tax. That we may be caught as well is merely a by priduct. Considering that many of us will have income that is wholly or mainly exempt through DTA exemptions (eg US SS, UK and other Government Service pensions) and that other income will already be taxed by "home" countries, there will be very little extra income for the Thai Government to chase, and equally for us, collectively, to pay. Odf course, there will be outliers and anomolies, but in the main - a bit of a nothing burger except for any additional paperwork needed. PH PH
  15. It is a given that any and all income that is not remitted to Thailand is in no way laible to any form of Thai tax. If Worldwide Income comes about that will change - bu that is not the current situation. PH
  16. Ah. Just a sound bite. that's OK then. You appear to think that suggesting that maybe injecting bleach may be a remotely good idea worth serious investigation. I will leave it there PH
  17. In your own quotes, he DOES say...by injection inside . Just how much more clarity do you need? PH
  18. Surely not waiting for bus? Thought it was only Harris who bussed crowds in? On the other hand, they have until January 5 to vote (according to Trump in his latest Town hall) PH
  19. Not the point (well, not my point) at all. If you are selected for audit by TRD, then the onus is on YOU to prove what you have told them (or not told them) is true. They merely need to access the records of those selected for audit, not everyone and only then should they feel the need to corroborate what you have told them. If you believe (as i do) that usign a foreign CC in Thailand is no different to transferring cash and then using that, then you need to maintain a record of how you have cleared that CC bill to support any tax return or reason for not submitting one. I have been audited by HMRC twice with no trauma so I am confident that my records will enable me (if ever selected) to be able to show the source of all funds remitted to thailand sicne 1 Jan 24. PH
  20. You can certainly state that - I will be doing much the same, but with the addition of non-assessable income (Government pension). BUT I have statements of my assets as at 31 Dec 23 and will be maintaining records of what I transfer so, if I am ever audited by TRD will be able to clearly show that my stance is correct, legal and I have no tax to pay. PH
  21. 1. What? A foreign purchase using a foreign card has nothing whatever to do with tax in any country. Spending is not taxed (on an individual. VAT or Sales Tax may be applied to purchases but these are done at time of purchase). The sports car will likely atract hefty import taxes/duties, but that is another matter. 2. Yes. Funds are remitted to Thailand. What they are used for is immaterial 3. Yes. Funds are remitted to Thailand. What they are used for is immaterial. 4. Same as 1. To suggest that just because I live here does not mean and and all worldwide transactions could give rise to Thai tax implications is bizarre. PH
  22. To suggest that this might be under the auspices of Thailand is ridiculous and no-one has suggested it would be and continued discussion on this outlier would be fruitless. A (perhaps) better example and one that is much more likely to be widespread is as follows: 1. I transfer money from my UK Bank account to my Tha account. I then buy a widget using cash I have withdrawn. 2. I buy a widget and pay for it using my UK Credit Card. Later I clear my UK CC account unsing my UK Bank account. (I do this myself a lot when buying on Lazada) In both cases, money has been transferred to Thailand and the relevant information as far as tax liability is concerned is the source of the funds in the bank account. That's it. PH
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