dimitriv

1 hour ago, RotMahKid said:

That's the basic AOW if you did not worked your whole life, most people worked and get their pension on top of it and  that makes the difference.

The article is about state pensions...

40 minutes ago, saengd said:

The role of the army is to protect internal security and the borders of the country, drug cultivation, manufacture and distribution is large part of that.

 

Internal security ?  No.  In almost all countries the army has to protect the country against threats from other countries. Often the army is also responsible for border control.

The army is not responsible for things that happen inside the country like drug cultivation. I know in Thailand things are different. Here the army even comments/criticises politics. Where I come from an officer doing that would be fired on the spot.

58 minutes ago, chrisandsu said:

Yeah the British pension is appalling ! My dad would get literally peanuts to survive on. Where I live I could retire in Thailand comfortably on what the social security have estimated what I will get . 

The Netherlands is on number 1. But you only get € 1.158 a month. That doesn't sound like "comfortably retire"...  You really need to save/invest yourself more to have enough to live on.  Or own a house so you do not have to pay rent. 

4 hours ago, CLS said:

BoT interest is 1.5%.
Thai banks mortgages are 7%.
Civilized countries banks‘ margin is less than 1%. Go figure.

 

Maybe there is a bigger risk lending people money?  More bad loans?

5 hours ago, mogandave said:

 

Do you think they should try to manipulate their currency to devalue it?

How would allowing people to take money out of the county devalue the currency? In any event, they allow money to be taken out, just not currency.

The interest is high compared to what countries?

 

-Yes

-Thailand has many laws restricting money going out. Restrictions about investing abroad etc

-In the EU we have a negative interest at the moment. It is not strange that a lot of people convert their money to TBH and put it in a Thai bank.

I don't like the negative interest in the EU. I think it is wrong. But Thailand can better adapt. There is too much money going to Thailand, increasing the value of the Baht.

18 minutes ago, observer90210 said:

 

...... and tourism will soar, overnight !

 

You forget air quality and the plastic dirt in the sea.

Seeing that it only gets worse I don't believe that they will be able to fix this.

22 minutes ago, parafareno said:

i will try another bank....but the teller at the scb in airport tell me i cant open bank account with any other bank...cause new rules for falangs....

SCB is very difficult. You need a work permit.

If you do not have a 1 year rental contract, no 1 year visum and or no work contract it can be very hard to open a new bank account. Maybe going to Trang will even save you some time.

22 hours ago, Mavideol said:

need a VPN to access your original country where the account was set up

 

You really must be very careful with VPN's. Google knows that it's a VPN, and it can be an extra red flag. Unless you have something good that uses a real residential IP in your home country I would forget about VPN's and trying to bypass Google's security checks.

It's strange. I use gmail all the time, in many different countries. Never had a problem.

I did have problems with the combination of Facebook/Instagram and AIS. The problem with AIS is that they send all traffic out with the same IP. It can be confusing for social media and maybe also google/gmail. They see that a lot of traffic is coming from the same IP and can think that this IP is being abused. Changing to True or DTAC can help in that case.

1 hour ago, phungo said:

Can you share your experience of getting mugged and lessons learned?

Ill be in Manila for 10 days and quite worried about this.

Don't take anything you cannot afford to lose ????

Thailand is very safe, even compared to EU countries. But I don't believe that the Philippines are so bad. I know several people who visited, and none of them got mugged. Just be careful.

10 hours ago, mogandave said:

In any event, do you really think the Ministry of Tourism or even Finance fo that matter control the value of the Baht?

 

The government has a very big influence on the value, yes...  Thailand has many laws in place to prevent money going out of the country. They could change that. The interest in Thailand is high compared to other countries. They could change that too.  But for some reason they do nothing.

11 hours ago, SCOTT FITZGERSLD said:

YES THERE IS a global income tax requirement in thailand.

maybe you want to check for updates on line.

 

and yes there is capital gain tax in thailand. 

a thai tax resident will pay 37% on his profits from stock trading, but limits apply.

 

seems like you dont know what you are talking about.

thailand tax laws are ever changing, like in most other countries.

 

Thailand taxes worldwide income, just as the US does. But unlike the US, only residents are taxed on their worldwide income while non-residents are taxed only on the income earned in Thailand.

I didn't want to reply...  But you make a mess of it.

>> Thailand taxes worldwide income, just as the US does. But unlike the US, only residents are taxed on their worldwide income while non-residents are taxed only on the income earned in Thailand.

That is 100% true. But there is 1 addition missing:

"If such income is considered foreign sourced income (income derived from work performed outside of  Thailand, business conducted outside of Thailand, or property situated outside of Thailand) it will be taxed in Thailand only if: i. an individual is a Thai tax resident; and ii. such individual brings such income into Thailand in the same calendar year that he receives it."

So your quote is right, if you bring the money into Thailand in the same calender year.

Mazars has a nice explanation with examples:  https://www.mazars.co.th/Home/Doing-Business-in-Thailand/Tax/Thai-sourced-income-and-residence-rules

2 hours ago, theoldgit said:

Your intention to apply for an extention in Jomtien probably wouldn't cut any ice with the carrier, as it doesn't meet the immigration requirements.

I used Qatar airlines several times. My explanation of getting a VE + 1 month extension was always excepted.  This was when leaving from Brussel. It can different at other airports. 

If you really worry and want to be sure you can always call them to ask. 

7 hours ago, esclub said:

I just wondered if this was a roll on effect from the recent Thai Visa issues that was now getting fed back to airlines outside Thailand who are now requesting onward travel and Visas and if this is now wide spread.

They also asked that when I flew with Qatar to BKK about a year ago. So it is not something new. Before when flying with Qatar to other destinations they also asked. Even when I didn't need a visa. It is their way of saying "Hello".

Usually I fly with Etihad to BKK. They also always ask.

9 minutes ago, parafareno said:

so move and go live n on nut....what stops you?

a 1 year rental contract with 2 months deposit ????

The year is almost finished.

2 minutes ago, SCOTT FITZGERSLD said:

problem is, as you mentioned, that banks abroad report foreign accounts to the country where i am tax resident. Banks abroad demand to know where i am tax resident and than report my account to that country. Thailand does not report. not yet. that is why i prepfer to move to thailand, to register thailand as

my tax residency and than to feel more free about my bank accounts abroad.

it is not me who make things complicated, it is the global system who becomes more and more

like financial concentration camp.

even using your card to pay in another country might be considered, technically, money laundry.

Banks exchange the account balance you have at the end of the year. If they report this to Thailand this info will be useless for them with current laws. You are allowed to have money abroad. There is no wealth tax. The balance can grow each year. But for Thailand this is not important because this money is abroad and not taxed anyway. So they will only receive useless data.

I am planning to follow the rules. I have enough savings to survive for a year. So money I make I can keep abroad for at least a year. 

I don't know where you are from. But some banks in my home country told me that they will cancel my accounts when I officially move to a country outside the EU. They claim that administrative expenses (reporting the account balances to countries all over the world) are too high. Other banks had no problems with this.

4 minutes ago, SCOTT FITZGERSLD said:

THAT is indeed the problem, how do they decide / search if it was earned the same year it was sent?

from what i read, a tax resident in thailand must pay taxes on income earned ALL OVER THE WORLD, besides capital gains .

so the question is, what is defined as capital gains? say i hold a stock for two years, than sell at

a profit and transfer to thailand the same year i sold - will it be considered taxable income?

AND how will they decide if it was earned the same year?

ohhh, thailand, so easy, and yet so blurry.

You are really making it too complicated. Just keep the money abroad ????   Or use an investment account or bank account abroad with a debit credit card. Use that to pay in the Big-C, in a restaurant. Your money goes directly from the foreign bank account to the supermarket or restaurant.  It will never be on your Thai bank account. There is no way they can track this.

1 hour ago, parafareno said:

I stayed in on nut near BTS 6 years ago and now I see on g maps that the local market with fruit shops, clothing shops and small bars is gone...what happened...why would you still stay there'

There is a Tesco-Lotus, Big C. There are enough bars left. Many streets where you can buy a lot of food. I like going there because it is always busy, turnover rate of food will be good. Result is that the quality of food is usually good. There  is also a small market left close to the Big-C. I think it is still one of the best places to live on that part of the BTS line.

I know that there was a market. They moved it, and now it is smaller and less interesting. That is what I heard. I never visited. It is more far from the BTS.

I live close to Bangchak BTS (boring place). For shopping I always go to On Nut and I feel sorry that I do not live there.

1 hour ago, SCOTT FITZGERSLD said:

really? that is interesting...but how will they know when i made it? will

they demand to show them all the bank records?

AND what if i open a trading account in a thai bank, will the same

ONE YEAR = TAX apply?

The problem with Thailand is that until very recently, or maybe even now, they do not exchange bank info with other countries. So as a foreigner living in your own country you could hide money in Thailand. I think the law is still based on that. They don't know what happens abroad. I think this is changing slowly. When opening a bank account they asked if I am a US citizen. It seems that they started to exchange information. At least with the US.

If you have some savings, enough to live for a year this system is very nice. The money you make this year you keep outside Thailand. And transfer next year if you need it for living expenses. You pay no tax this way.

This system is like heaven. It allows you to pay no tax. It is already nice that it works this way. I would not try to push the limits more. 

If you have a trading account in Thailand it is not foreign income.

I am not a specialist in tax matters. In my own country profits you make with investments can be taxed in different ways. If you are passive it can be income from investment, if you are trading all day and it is like a job they can tax it as salary (much higher). I don't know what they do with this in Thailand.