Robaht

I’m keeping everything cash this year, what is the limit per entry in $ ($15k?) and I’m curious if there is a maximum $ amount per year you can personally carry in? Solves a lot of problems.

I’m going all cash. It will be sad to say goodbye to all my airmiles earned on cc, but $ is $ and safety first.

In your opinion, if I transferred in

One thing I still don’t quite understand is the following question: Any savings existing pre-2024 that were transferred into Thailand during 2024 (bank wires, Wise, ATM, Credit Card payments paid off by pre-2024 savings) = they don’t count as accessible income? I thought there was a statement to do this prior to the end of 2023? Thanks!

Okay, so in your opinion, if I were able to show that all 2024 funds transferred and all credit card purchases were paid by 2023 or earlier year funds, I wouldn't need to file? And if I were not able to do that for 2025 funds transferred and all credit card purchases, then in that case I would need to potentially file? Just wondering. A second question in case someone knows, I used to have a TIN when I owned a Thai business and had a WP. How can I check if it is still valid or if it was canceled with the WP (which I did do as required)? I will call my old accountant but just curious.

Do you actually mean Jan 1, 2024 ?

One thing I don’t understand is how can any money be considered accessible if you don’t have a work permit and earn baht here in Thailand? I have a TIN from previous years when I was working legally here, but even then money sent to my personal account wasn’t recorded as taxable income per accountant, only the salary I made and maybe the interest earned in the Thai bank account. Sending money to myself or using a credit card for a restaurant hardly feels like accessible income that needs to be reported, unless an official Thai tax statement is made it doesn’t seem anything has changed. Now it’s harder if it’s sent by a foreign government or company but personal funds? Not yet clear imo.

So is the general feeling that for 2024 an expat over 180 days will need to file a return based on the amount of money brought into the country (and I still find it highly improbable that the amount would include credit card purchases or even ATM withdrawals) and that “if ever” it looks like a type of global income tax wouldn’t happen until 2025 or later? I mean TIT but realistically for them to figure out how to implement it and what docs are required from every country, much less that the filing date end of March is even before the filing date in countries like USA. I guess I am planning to ride out this year, get my Non-O extension and then prepare for the inevitable 179 days in country. Such a hassle.

MAGA is against taxing the unrealized gains and also, Biden and Yellen are not MAGA lol

I don’t know but I thought the sentence that refers to the 1 billion baht was poorly worded and open to interpretation, but I thought it as more “platforms” like banking or money sending institutions (like Wise or Western Union) with 1 billion baht in transfers would be required to provide a list of who recieved funds, something like that. Probably wrong but …

Yeah, last year I used Wise to bring money in small increments like 10k baht into my Kasikorn bank and just withdraw from ATMs - worked great! Finally I thought, here is a way to avoid the 220b charge at ATMs and get a great exchange rate. LOL now that would count as funding/revenue/assessable income whatever you want to call it. So I've stopped that and don't even use my Thai bank account. Now I pay with credit cards wherever I can, use my credit card to withdraw money at ATM - I use the yellow bank and keep the receipts which are labeled "visa credit" so that should be fine, and also bring cash to exchange here in Thailand. I'm not sure what else I could do, maybe get Thai baht out of country say on a "money run" to Malaysia or something!