Jenkins9039

NOTE: Fee of POS Signature Transaction Decline - International (Country [SGP] is blocked); PAYPAL SGP Got this error when making a on-going payment (Thailand) non-Thai card, no clue why it mentions SGP (it's Caribbean Card) Paying from Thailand - can we no longer use Paypal here (tried under a VPN failed).

Paid for by your humble expats :D

Taxable income (Baht) Tax rate % 1-150,000 Exempt 150,001-300,000 5% 300,001-500,000 10% 500,001-750,000 15% 750,001-1,000,000 20% 1,000,001-2,000,000 25% 2,000,001-5,000,000 30% 5,000,001 and over 35%

You'll own nothing and be happy.

No, this is incorrect. If you earn abroad. It's tax free UNLESS you remit it, for example, you have a consultancy company in HK which you are paid by, into a account outside of Thailand, it's tax free. If you remit it you pay tax. At the moment that is the way it is, same if you own a company overseas, or have equity and majority stake in a company overseas, or dividends overseas, or real estate overseas. You will only pay tax on the remitted (into Thailand) and say you earn in 2023 but bring in in 2025 then you pay tax in 2025 - only if you are tax resident 180 days + If you bounce around (non-tax resident anywhere and deposit the funds into Thailand and spend 179 days in Thailand it's tax free...

Not at all, personally spoke with the Revenue Department. The fact i own a equity or a company overseas is irrelevant, if i bring funds in it becomes relevant (taxable). UK can't tax non-residents (they'd have to provide something in return) - for example I've been out of the UK far too long i am entitled to NO NHS, NO PENSION, NO VOTING. etc. Citizenship for no-tax countries ranges from 100,000$-300,000$. Thailand is merely taxing income/funds brought in, if you can provide evidence its savings (even outside of DTA) then that's all you need to do.

More of a demographic issue. Gov is forced to debase the currency to offset the demographic loss to productivity (AI/Robotics will in the future achieve, but also displace). This pumps assets for those that bought before all the debasement truly got underway (2013). Whilst those entering the asset accumulation phase, or at the bottom, struggle to get sound footings. Nothing to do with Brexit per-se would have occurred anyway. EU will go through it more harshly, Germany the back-rock of the European Union is destined to collapse over the next 10 yrs. Difference is the UK won't be dictated to provide funding, and taxation to support, or further currency debasement to support ailing EU countries, so can just concentrate on our own issues.

Similar here.

Second part refers to non-state pensions, UK, EU, AUS, can't speak for America, not really on my radar...

See my comment above - Yes/No, it would be tax free up-to 150,000 THB and then taxed at Thai rates as Income... Because you don't get a tax receipt when you don't pay tax.

I answered this above. As per conversation with Revenue Department, Thailand intends to tax ALL income Remitted.

In addition, various "potential" ways to overcome (specific to some people). Own company overseas which pays a dividend/salary (recommend Dividend). Company does a loan for amount owed annually (lump sum) Lawyers countersign/translate. Remitted funds are NOT income but a Loan covered by overseas debt which is serviced by your next Annual Dividends. Own a overseas Credit Card Credit Cards are 'Credit Lines' covered under Debt, you are not remitting funds, and your annual overseas Dividends/Other will service that Debt. These are two areas I expect to play out in the Thai courts, and expect to be challenged, but Credit in no country is Remittance, however Thailand will likely claim otherwise especially if the person doesn't routinely leave Thailand during the periods. Note Thailand doesn't charge tax for Bullion/Gold (may change) - Selling Gold overseas would be contestable within Thailand as it's tax free in Thailand. Other manners to get funds is a quick flight to KL and fly back in with the max (9.5k?) which carries some risk, but ultimately is legal.

I actually phoned the revenue office (bangkok). Money earned overseas, and or as a business owner overseas regardless of tax overseas or not, is tax free unless remitted and then taxed, this includes companies which say are overseas in tax havens, and say don't have substance in the overseas location (otherwise hire someone on Fiverr on a permanent contract and use their home as the office). Money from property (rent / sale) overseas will be treated as Income when remitted (this will <deleted> a few people). Money in the form of 'not in the bank account' - say cash or even stablecoins (thankfully public) whereby savings and remitted, is tax free *IF* it was earned before and/or tax was collected, having said that any funds earned in 2023 and remitted will be taxed as Income, evidence to support it is savings is a must, for pre-2023. Money extracted from stock market activities, principle is tax free, ROI is treated as Income if remitted to Thailand. Elite Visa holders 'reportedly' spend around 30,000$ a year (such a low number and I am one of them so not sure where they are getting that from) anyway they will be taxed as Income like everyone else. Pensioners are in for a whammy though... State Pension is tax free as the State will have dealt with that, your private pensions on the other hand will be treated as Income and taxed, note some countries charge tax anyway, the terms of some of the treaties outline that Thailand will provide a credit for the tax paid, what you need to recognise is that is specifically on the $ (equivalent) amount 'earned' and 'remitted' meaning in some countries (say the UK) there is something like a tax exemption of 13/14,000 GBP, whereas in Thailand there is a tax exemption of 150,000 THB + (60,000 THB - needs verification), so from the 150,000 THB onwards you'd be taxed at the standard Thai rates. Note the Government is pushing through higher income for Thais, with luck they also increase the Tax levels upwards... also note 96%+ of Thais don't pay tax (and earn enough just they do not declare it or feel they should not be productive members of society) - the Government has commenced populistic politics which is what specifically has led to the downfall of our own countries (deficit spending and populistic appeal) - in this latest move we are the ones, alongside the productive members of Thai society paying for the populistic policies such as a free 10,000 THB bribe etc. This appears to be the start of the road our own Governments went down, and will need to be factored in before individual property appraisals and tax there etc. Likewise I am somewhat surprised no one has complained that for example, in the time i've been in Thailand, i've seen not one but two exit taxes created, and not one but three entry taxes created under the promise of this or that and then folded into the flight ticket. Somewhere the Thai Government has some major economic hurdles that haven't revealed themselves as of yet, and they are appearing to consolidate into causing more long-term hardship (like our own debasing currencies) by compounding what ever the issue is with populistic vote buying.

Money laundering... or capital influx thus capital flight, same reason entered on this new tax...

Who blamed their wife? You seem pissed (drunk)

Seems clear as mud as the wife translated it.

It's covered in this released by the Revenue department (in Thai). QnA41_2.pdf

Would have thought the entire point of a relationship would be to be milked...

Challenged in court lol

Had the yacht electrician do them, cost 5x the price but done properly.

The new policies will ultimately lead to a reduction in $ velocity at the CB level, which will cap their ability to manipulate (control) the Baht-$ ratio. All trade practically occurs in $, all debt is practically in the EuroDollar market. Without the flow of $ the EuroDollar market demand will create a squeeze on the $ the CB has flowing through it. This will then lead to Thailand de-dollarising in certain industries regionally so as to preserve the $ that do flow through the CB for the EuroDollar debt. The average person believes the $ is the reserve currency, it's not, its the Eurodollar market which is some 300-400 trillion (no one really knows) - ledger based debt/liability system, the $ is just the 'benchmark' like the Gold pegged currencies previously utilised, now its pegged against the $ in paper ledgers and digitalised ledgers... But its serviced (paid in $). Have a look at the derivatives right at the bottom of this: https://www.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization-2022/ That includes the EuroDollar market.

I didn't say that, they wouldn't go after Thai's they would go after the Chinese IP.

Thailand recently got a new government more aligned to the US than China. A Chinese EV is 12-15,000$. A US EV / West EV is 40-120,000$. EV's will get more expensive in Thailand as China is using Thailand to build out the EV(s) and circumnavigate the Sanctions on Chips so as to sell into the ASEAN market. US won't allow.

Likely hurt the white economy, and wipe out the grey economy around tourism

Without $ flowing in in-mass for tourism and expats, Thailand is reliant on it's trade, and that needs to be in a surplus to imports. Therefore if $ are going out (not $ itself at the individual level, but the inter-change mechanism) than coming in, the country won't be able to control the THB - $ rate. As all debts are usually in EURODOLLAR, Corporate/Gov (ledger) they need physical $ capturing to pay down the debt or interest. So Thailand's approach to this new tax system will leave them longing for $ (you transferring in Euro's etc) to give the central bank the $ to service the Corporate demand & Gov demand. They will swiftly find themselves in a similar to most of the world, and armchair BRICS supporters will think Thailand trading with some countries in THB will be another win against the US Reserve Currency (its not) but in reality it will be because they don't get enough $ flow/velocity to service the EURODOLLAR commitments... FYI EURODOLLAR is the reserve currency, and that's just ledger based debts and liabilities, the $ is the mechanism for paying down the debts/interest. So som-nom-na