Mike Teavee

Again, he's not a Tax Lawyer (Lawyer is a protected profession in Thailand so foreigners cannot be Lawyers) & I personally think he's very wrong. What I think he means is you won't get caught doing it (ATM transactions are not CRS reported, whereas I'm pretty sure any remittances sent to your Thai bank account will be shared with TRD) but that is not the same as saying it's not remitted income if you get audited. If I brought £50,000 in cash into Thailand (reported to Immigration at both ends) & changed it for THB at the money changers according to him that wouldn't be money remitted to Thailand but I think very few people would agree with him (I've literally walked the money in so how can it not be remitted).

From your link, It's this part that I believe matters... Credit card issued by an overseas bank or other financial institution Where an overseas credit card is used in the UK, the cardholder is effectively authorising the credit card company to pay the bill for the goods or service in just the same way as if they had instructed the bank to make a payment directly to the person supplying the goods or services. The terms of credit card agreements may differ as to the moment of ‘indebtedness’ between the cardholder and the credit card company. However, the use of the credit card to pay for goods used or received in the UK, or services provided in the UK will create a debt. The use of the individual’s untaxed foreign income or gains to pay the credit card company in respect of the debt will be a taxable remittance. So If you switch Thailand for the UK then I am using an overseas credit card (from UK) in Thailand & authorising the overseas/UK credit card company to pay the bill for the goods or service & if I pay that using cash in the UK would be taxable remittance in Thailand IF they applied the same rules.

This was 2006 so my memory is very rusty apart from the WW2 prefabs we worked out of (Lytham St Annes not quite Blackpool) Had some good days there, nice bunch of people 🙂

Lol, you dodged a bullet there. Just kidding, I was only with them for 10 weeks, I joined to take a role moving a data centre in Australia but managed to save DWP £2Milllion on their MS licences in my 1st week so they wanted to keep me around... In BLACKPOOL! It's scary how non-commercially minded government departments are, they were paying £2Million on SharePoint licenses for their UAT environments... WTH - MS doesn't charge for UAT licenses (not that their MS rep would tell them that).

Maybe I'm paranoid but I think you're referring to me here but I can categorically state that I have never said I was or even hinted at being an "Investment Banker" I have (repeatedly) said that I spent most of my career working in IT for a UK Bank mainly in it's Stockbroking Arm (Doesn't make me a Stockbroker) but also in it's Investment bank arm (Doesn't make me an Investment Banker), It's Private Bank arm (never been a Private Banker) it's Mortgage Arm (no surprises that I've never been a Mortgage Advisor), it's Credit Card arm & even it's "Estates & Trusts Arm" (Not an Accountant or Lawyer though). Just a plain old IT Dude who went where the firm sent him... . Oh I also worked for EDS at DWP (UK Department of Work & Pensions), doesn't make me a Pension specialist either 🙂

My personal opinion is that if you buy something in Thailand on your UK credit card (Lets say a new TV) or purchase a service originating from Thailand (E.g. a flight back to the UK) then you are remitting money into Thailand. Other guys opinion is that a Credit Card purchase is a short term loan & loans are not considered to be assessable income, I originally thought the same but found out that the UK treats any Credit Card purchase as remitted income & as that's the only country I'm familiar with that taxes on a remittance basis changed my opinion.

There are, as yet undiscovered, tribes in the Amazon rain forest who know that taking money out of an ATM is remitting money into Thailand. The credit card question is much more complex, my personal (layman) opinion is that If I use my credit card to pay for something in the UK, I'm not remitting money into Thailand, if I use it to book a hotel in Vietnam, I'm not remitting money into Thailand however, if I use it to purchase a flight from Thailand (lets say with Qatar) then I am at least at risk of being considered as remitting money into Thailand... BTW Hopefully people will read the 1st part as the joke that it's meant to be🙂

That was my question (which Ben replied to) What question did you have in mind?

Although I'm "Ok" in (Schoolboy) French, I don't fancy trying to sit through 1.5 hours of it so can I ask... Did it say the same thing & ATM withdrawals/ Credit card usage wouldn't be considered as remittance? No use to me as my UK Bank charges me a fortune to withdraw money overseas but I can imagine US guys with Schwab accounts would be very happy if that's the case.

well I don't understand tp but then again I am English The guy posted he was going to use his US SS "TIN" number... I said (guessed) it wouldn't work Problem?

I replied to this...

I've never seen a US SS Number but would bet the house that it's not going to work as a TIN in Thailand 🙂 I have a TIN and know it's nothing like my UK NH number or Tax reference....

AKA... Another "Chancer" in Thailand...

Not a bad thing at all... Maybe I just worded it badly but my point was Somebody had a go at another poster & held this guy up as a Thai Tax Lawyer & I simply pointed out he cannot be a lawyer in Thailand because he's not Thai. That's it

What's laughable is your inability to understand the fact that somebody held this guy up as an expert "Thai Tax Lawyer" & I simply pointed out that he cannot be a "Thai Tax Lawyer" because Lawyer is a reserved profession in Thailand. You can only be a Lawyer in Thailand if you're Thai (I typed that really slowly so hopefully you'll be able to understand it this time). The Guy has shown himself to be an idiot on both of the videos I've seen him in but please, feel free to follow all of his advice & I'm sure he'll be there to give you legal advice (Illegally) should you need it.

Can't see any articles germane to this guy on that link but I made the point as somebody was holding him up to be an authority on Thai Tax Law and he's not a Thai Tax Lawyer. I remember watching the 1st video & thinking this guy was talking out of his ass, his comment about "Only money sent from your offshore bank account to your Thai Bank account counts" is ridiculous.

Is he really a Tax Lawyer? - The video hints at it but doesn't say for sure & he doesn't look Thai to me [Lawyer is a restricted Professions in Thailand]... If you are a professional lawyer in your home country and would like to practice your profession in Thailand, you should be aware that foreigners are prohibited to work and provide services in legal counselling, litigation and others such as representing as a lawyer in all types of cases, acting on behalf of clients in legal matters, drafting contracts or making legal documents. https://msnagroup.com/can-a-foreign-lawyer-work-in-thailand/#:~:text=If you are a professional,on behalf of clients in

As far as I'm aware, the "Tax on Worldwide Income" was suggested as an idea by 1 person & has so far not progressed to any kind of official policy so I'm not surprised BOI do not have an answer for you, though they should have given you an answer similar to what I just said! I think it's going to be a case of wait & see and I can understand your frustration being faced with paying 50K for a Visa that you might not use, I'm lucky in a way in that I won't be in a position to apply for the LTR until Feb 2026 so time on my side to see how things shape up. BUT, if I could get an LTR tomorrow I would... Financially it works out better for me (I pay 12K per year for my extensions/re-entry permits because I use an Agent (for convenience), 8K Extension + 4K for a Multi Re-entry permit) and pre-covid used to pay 20K pa to Thailand Long Stay Management for unlimited fast track In/Out at BKK (was visiting/leaving every other weekend so worked out less than 500B a time), I'd happily pay 5K pa for that alone now even though I only enter/leave 2-3 times pa nowadays.

Maneerat charge 100B if you do your Extension with them otherwise it's 200B.

Wise is only good for transfers up to 2Million THB (for 3-4 banks, rest of the Banks 50,000 THB) so probably not the right way to go for Purchasing a Property.

US SS is covered by the US-TH DTA so is not considered "Assessable Income" & does not need to be reported in Thailand, however your other income may be "Assessable Income" so best to check but if it amounts to <120K THB (Single guy) then no need to file a tax return.

Whoops, simple maths is beyond me as I completely messed up how much Withheld Interest I'll be able to claim back & it's more like 60K not 8K (a little over 3.5M on deposit at 1.7 %) so now I will be filing a Tax Return for 2024. NB. Not trying to "Show Off" here, I'm 19 months away from receiving a pension & whilst I do have passive income in the UK, I don't like to have to rely on it ( https://home.barclays/content/dam/home-barclays/documents/investor-relations/IRNewsPresentations/2020news/20200331-Barclays-Dividend-RNS.pdf 3 days before it was due to pay me enough money to live on for 3 months) so when I moved to Thailand full time in Feb 2020 I moved 6 years living expenses over with me to last me until my pensions kick in. Very Stupid as the SGD is 20% stronger now than when I moved it, but seemingly smart now as it means I don't have to remit any money for the next 3 years if I don't want to, but by sticking to 435K remittance (my & GF's) tax free numbers) it will last me 4 years - I only need it to last me 19 months. I know all about the 1Million Bank Guarantee but IMHO if Bangkok Bank ever did go bust the THB would take such a nosedive I'd probably be much better off financially even if I lost 2.5Million THB so not worried about that at all.

As you're already past the 2023 filing date I wouldn't recommend "Poking the Bear" by filing a late return but I am considering testing out the online system next year by filing a return (for 2024 obviously). FWIW I'm limiting my remittances to 235K for me (60K personal allowance, 25K health insurance & 150K 0% tax) & 210K for the GF (60K personal allowance + 150K 0% tax) using savings already in Thailand to make up shortfall, I estimate this should mean that they owe me approx. 8K in withheld tax which even allowing for some tax being due on it, should mean a refund of around 7K.

Not for me, I did 20 days (& it was bloody freezing every day) in the UK 16 April - 6 May so have until 15th August 🙂

Not a misunderstanding more of a divergence in what the Sherrings statement is saying, to me it is only referring to the way the Gain is calculated & makes no reference to how the proceeds are remitted which I believe is pro-rata. Time will tell but in the meantime I won't be remitting any Capital Gains to Thailand until the position is crystal clear, same with Rental & Dividend income. I wonder if Thailand has any idea how much money isn't being remitted because of the lack of clarity around this (I'm only remitting 235K for me & 210K for the GF this year & next, when normally it would be 4X that pa) or how many people are putting of large purchases (which is ironic given the very recent push to increase foreign ownership of condos / leased land).