SCOTT FITZGERSLD

On 12/15/2017 at 4:10 PM, ChouDoufu said:

if i understand correctly, thailand does not tax capital gains.

dividends are taxed at 10%, interest at 15%.

 

https://www.set.or.th/en/regulations/tax/tax_p1.html

 

interest on my fixed account is deducted 15%,

the dividends i received last week were taxed 10%.

 

the bualuang rep where i have a brokerage account

tells me no tax on capital gains.

 

uncle sam will tax the capital gains on thai stocks

i bought with money earned in china.

 

sadly, the foreign earned income exclusion does

not apply to passive income like capital gains.

 

...and don't forget to file your FBAR!

8 hours ago, tonray said:

Not sure what that means but only trying to help him determine if his country already has tax treaty with Thailand to avoid double taxation.  In general expats here are remarkably ignorant about tax obligations including treaties and foreign earned income exemptions.

REST assure that i do know about the treaties between thailand and my country, it's not something that can't be google. but how to use that information to minimise  tax payments,  - now that's another question.  ANYHOW, since the obama administration declared global war on tax heavens and many other governments joined gladly, there are new rules and regulations coming every year, some of them are weird and / or draconian, like few years jail for a family member who helps a husband to hide assets from his wife, in case of divorce...yes, the banks in europe are interfering  now in  marriage disputes spouses too...

12 hours ago, ubonjoe said:

No need for a work permit for having capital gains. You can can buy and sell your own stocks without a work permit.

Unless you bring the money into the country during the year earned they are not taxable.

and if i bring it into the country during the year they are earned...??? taxman  allways have a way to make life harder

5 hours ago, berybert said:

Why would any declare something they don't have too. 

Why do people make so much trouble for themselves.

Just live here and relax, theres enough hassle with 90 days reports and yearly visa without giving yourself problems for no reason.

All your earnings are outside of Thailand and nobody has any need or reason to know about it.

No need to make it a problem.

well, the problem these days is that global banking system is closing down on all tax evaders. most banks in western countries won;t accept deposits, cash or TT, without sufficient proof that tax was paid, be it small or big amounts. and in some countries banks might freeze or even confiscate your money in your account with them, unless you give them a letter from lawyer or tax authorities in your country of residence / the country you say the money was earned, stating that taxes were paid on that amount, the amount of money which you think is yours. happaned to a friend of mine, that A bank refused to let him TT 100K USD which he help in an account with them for 12 years !! they didnt tell him about this difficulty when he opened the account...

WHAT IF i have capital gains, trading stocks and options,  in a bank account outside thailand, while i reside in thailand on retirement visa - will i have to have a work permit to do that? AND what about taxes - will i have to pay taxes on those capital gains in thailand, even if i am on a retirement visa?

I SEE. so i guess you got the letter from the bank stating your money came from "OVERSEAS". 

otherwise the immigration would not convert your visa exempt entry into a non imm O.

i wonder which is the better way...cause i allready have with me half the amount in cash, and

the immigration officer and the banker told me no need for TT, just come with the cash,

and if it is USD deposit just pay 1% commision...go figure...with all the new rules and regulations all over the world...you might be considered a global criminal just for depositing / transferring the wrong amount in the wrong way.

5 hours ago, ubonjoe said:

When you apply for a one year extension of stay at immigration they will not ask for proof the funds came from abroad.

THANK YOU SIR, VERY HELPFULL INDEED

6 hours ago, ubonjoe said:

There is no retirement visa you can apply for at immigration. You can apply for a one year extension of stay at immigration.

To apply for the one year extension based upon retirement there is no requirement to prove the funds came from abroad.

To apply for the extension you need a 90 day non immigrant visa (category O) entry. To apply for the visa at immigration you must have proof the funds came from abroad. The only way you can get the letter from a bank to prove the 800k baht came from abroad is if you transfer the funds into the bank. Immigration will not accept anything other than the letter from the bank.

If you want to bring in cash to meet the 800k baht requirement your only option is to apply for a single entry non-o visa at a nearby embassy or consulate or by getting one before entering the country.

 

THANKS, your reply make sense at last and it is a reasonable combination of all the pieces of advices i got from thai "proffesionals".  but just to make it clearer -  won't it be a problem if i will deposit 800K THB in my thai bank account, during, say, few times i entered on a 30 day visa waiver, and than apply for a one year extention of a non - immigrant O visa? they won't ask me in immigration where the 800K came from and show us proof it is from "overseas", ext. ? 

maybe someone here could help me with this question, as i am not getting a clear answer from the thai bank and / or immigration offficer. 

i have a bank account for few years now, which i use occasionally. i would like like to apply now for a retirement visa.

i want to deposit the 800K THB required in cash deposits. i want to bring the cash in foreign currency - as it is allowed to bring into thailand 20k USD 

on each time - and than exchange it to THB and deposit it in my thai bank account. will this be a problem if i will ask the bank for the

letter that proves that the 800K comes from overseas? OR will the bank want to see a wire transfer in order to give this letter?

wire transfer involve worse exchange rates than those at www.superrich1965.com, hence i prefer to change my $$$ there

and than deposit it into my account in THB. please help,