redwood1
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Boy this guy has a amazing talent for getting sick at very favorable and convenient times....
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Here is another monkey wrench to add to many others for the half baked zero thought out mess of a almost unenforceable tax on income ...
Thailand’s new visa rules from June 1 break fresh ground
There are also implications for Thai Revenue’s policy “clarification” to tax the overseas income of tax residents – namely anyone staying in the country more than 180 days in a calendar year. Using a combination of the new 60 days rule, plus a couple of border runs, it would easily be possible for individuals to clock up more than six month residence without having any visa at all. Thus the idea that Thai Revenue can identify potential tax residents by the type of visa they have is faulty. Enforcement of the new Revenue regulations is still unclear to say the least.
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4 hours ago, ronster said:
Think that equals the lowest amount I have seen people killed over . 🫤
I think people here have killed each other over a few hundred baht.....But I agree 20 baht is a record low amount....
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2 hours ago, scubascuba3 said:
When will they realise an apology isn't enough
Its enough for me.
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7 hours ago, Startmeup said:
Let's think about this rationally. There are alot of different circumstances but anyway….
"The personal remittances received in Thailand declined to 8.92 billion U.S. dollars in 2022. Nevertheless, the last two years recorded significant higher personal remittances received than the preceding years.
A remittance is a non-commercial transfer of money by a nonresident worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country. Workers’ remittances are a significant part of international capital flows, especially regarding labor-exporting countries."
So roughly $9B coming into the country that needs to be tracked under these new rules. Excluding use of credit cards and maybe ATMs? There is said to be 300k expats living in Thailand
Let's be generous and say they average $100k p.a brought into Thailand. Thats $3B. So that leaves another $6B from Thai/Foreigner abroad sent to Thais in need of money.
I can say with a high degree of certainty the bulk of this would be to people who don't even file a tax return let alone go out of their way to declare money from abroad. How many employed Thais file a tax return anyway, none that I know of I suspect the company deducts tax from the pay and declare a small portion of it and even that likely doesn't happen much.
The only way this will be enforced is through people voluntarily filing and declaring they remitted money themselves. Filing a tax return would be right at the bottom of things to do for any local living here who are living week/week month/month. Is The government going to go after all of them, they will be waiting a while to see any of it.So the RD will be hoping that the potential changes of rules will lead to self enforcement or they will target a select group of people who qualify in the new rules, maybe. Maybe they will target foreigners, Pick a few people off to scare everybody into self enforcement.
Which brings me back to a post I made in another similar thread, send your money to a Thai friends bank account and withdraw it from the ATM. These rules will be unenforceable for the locals. If you're still worried, Bring a toke amount into your own bank account to show something and do the bulk to a friends.
I wonder how many threads like this are being started in Thai forums panicking about these new rules, lol, zero.
Very good post....So good I wish I had written this.....lol
People here need get out of the tax tunnel vision and look at the bigger picture....
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4 hours ago, jacko45k said:
They did not look very permanent....... so either will get moved or become something to park against.
They always make a big show of things at first.....After a while they will lose interest...And it will be a free for all ....
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7 hours ago, KhunHeineken said:Wouldn't you agree that my example, and your reply, is the situation of thousands of expats across Thailand?
This would mean, "gifting" is not an option for them.
Section 37 of the Thai Revenue Code.
https://www.rd.go.th/english/37746.html#:~:text=Section 37 Bis Any person,exceeding 1 year or both.
"Section 37 Bis Any person intentionally fails to file tax returns prescribed under this Title in order to evade or in an attempt to evade tax, shall be subject to a fine not exceeding 200,000 Baht or an imprisonment for a term not exceeding 1 year or both."
Pretty scary, Mike, but as you say, the law applies equally. I'm surprised you allowed yourself to post it.
And what about Thais?....Is there a reason almost every person in these tax threads willfully ignores the subject of Thais not having payed taxes?
You say Section 37 Bis Any person that intentionally fails to file tax returns could get fines and maybe jail time .....Would that not also include Thais too?
This is a serious question......
Doesn't this new income tax also include Thais or is it just for retired expats who dont have a LTR visa..
I have yet to see any thing in the news educating and explaining to the Thais all their new income tax responsibilities that they will have starting in the year 2024.....
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2 hours ago, Pattaya57 said:
They've now put up no right turn signs on metal barriers to make it impossible to enter Dianna from 2nd road. I imagine they are there to stay
Barriers STAY?........I bet you a happy meal they are gone (or at least moved to the side) in 2 weeks or less...
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11 hours ago, Dogmatix said:
The question was how might it take for Thailand to introduce global taxation? At least 5 years is a reasonable guess but this is something that would require an act of parliament and would probably need to be part of government policy which it is not at the moment.
Yea right big corporations have a army of lawyers who do nothing but figure out ways to NOT pay any taxes.....Even Warren Buffet about the richest guy in the world admits he pays almost no taxes....lol........
The corporations will continue to pay almost zero taxes that is a certainty...
The LTR visa comes in very handy to make sure the very well to do dont have to pay any taxes ....
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2 hours ago, pomchop said:
So is part of the plan to cut down all of those wonderful trees along the beaches iin jomtien ....that would be a damn right shame ....we all know that thais don;t like to sit in the sun and also more and more farangs also don't want to fry like a slice of bacon with no shade....please please leave the trees alone...
Dont worry they will be taking care of the beach trees good....Real Good...Look what a great job they did on Pattaya beach...
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2 minutes ago, topt said:
The problem is we are back to our individual and collective interpretations.
I certainly do not know the answer but I am a little disappointed that it does not appear to have been covered in any of the country specific meetings with the RD that I am aware of.
Now your coming close to getting it......The Thais love to leave vast tracks of open space around rules and laws so they can be interpreted in a way that is favorable to the interrupter...
This whole thread going back to day #1 last year endlessly keeps trying to squeeze fluidity into something solid...And its never going to work....The Very rich here and many others here simply dont want it....
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Another thing about all these fabled records everyone keeps talking about for taxes....
Any Expat living in Thailand is not from Thailand and has most likely moved many times in Thailand....
They very likely have financial records spread out all over the world if they even remember where they are at all.....Old checking accounts, old credit card,old emails, old banks, old online banking bla bla bla I think you get the idea....
I can see many people seriously lacking the records to pay a tax that was thrust on them out of the blue...
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6 minutes ago, Yumthai said:
The frogs may ask for supporting documents.
Get real......99% of people will not have kept records of where savings money came from over decades....
Savings money sources cant be proven by anybody except by maybe the few who were compulsive record keeps....
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22 minutes ago, TroubleandGrumpy said:The TRD has allowed 20-30 million Thais not lodging tax returns, and they have done nothing about for many decades. Would they seriously target the partners of Expats alone and not all the other Thais - the social media outcry would be horrendous for the Govt politically.
I have brought up Thais not paying taxes loads of times but most people who post here just cant seem to get this.....And no effort has been made in the last 6 months to get Thais onboard with taxes......So it looks like the Thais will continue not paying taxes...
But for some reason the posters here think they will be looking over farang with a magnifying glass to try and get every last baht out of them...
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How long will it take someone to drive the wrong way on the one way......5-4-3-2-1... lol
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No....People will just keep driving 2 way as normal.....Watch and see....
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1 hour ago, Mike Teavee said:
IMHO yes, because you are paying for a service that originates from within Thailand.
Part of the fare is the various Airport Taxes/service charges all set by Thailand, so at least this money is remitted, but IMHO the whole fare would be considered remitted.
The IRS in the USA is a million times more organized than the Thai tax people will ever be EVER.
And the USA IRS almost never goes over someones taxes line by line wanting to know every tiny detail.......Your dreaming if think the Thais would check on where the money came from to pay for all flights originating in Thailand... That just nuts....
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And no surprise this thread is the longest one so far....
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9 hours ago, Olmate said:
Yes, ridiculous it is, her own home had the pool. Never mind, your just defending your thoughtless comment!
Why thoughtless?......If you cant swim stay out of the water.....Its really just that simple...If go in deep water and drown, whos falt is that?
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I thought this tax was for Farang and Thais alike...
I read the news EVERY DAY.....
And do you know how many news stories I have read about Thais paying a new tax in the last 6 months....
A grand Total of ZERO......Nope not a single news story of any kind what so ever about Thais paying a income tax.....
Strange is it not?
How about a news story about the Chinese, Russians, Indians, Koreans etc are worried about a new tax?.....Nope a big ZERO on that too...
The only people that seem concerned are a very small sub-set of the western farang...
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1 hour ago, KhunHeineken said:I said from Day 1 the only way they can make this tax policy work effectively is to have the Thai banks involved, and possibly implement a withholding tax upon deposit, with an amount possibly refunded at the end of the calendar year through a tax return.
Or, at the end of the calendar year, the Thai banks report to the RD the total amount of the money that flowed through each account, and then you are taxed accordingly.
Most expats transfer money from a bank account in their home country to a Thai bank account. At that point, it's remitted funds. Without the Thai banks reporting these amounts, this tax policy can not be effective.
On another note, if the use of ATM's by expats as a tax avoidance strategy becomes wide spread, it effectively cuts out Thai banks, thus, they don't have hard currency cash injections each fortnight / month from expats, so the Thai banks may not be so happy with this tax policy, not to mention, they may have more work to do on behalf of the Thai government by way of reporting, as mentioned above.
All good points......
It seems to me most changes or policy changes in Thailand end up a disaster most of the time...
For crying out loud it took them over 6 years to get the online 90 day reporting to work at least most of the time....How about the new weed policy?....... How about the elections...bla bla bla
I could fill a whole page up listing things...Just simple things turn into a convoluted mess.....
This tax stuff is hugely and massively complicated ...It involves lots of international treaties...Plus every county has different tax laws for all kinds of different financial things like pensions savings investing etc....
Different languages, laws, countries...
They have no hope, not in a million years of ever making this work...It just is not going to happen...
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This sub story is the gift that keeps on giving year after year .... Plenty more good years ahead for loads more news articles on the ongoing sub story....
The sub is useless.....But its very productive as a news story filler...
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How many times has the big winner just happen to buy 10-15-20 tickets of the winning number?
If it happend once ok......
But it happens often very often, impossibly often..
The Thai lottery looks like a scam to me for the big big winners.....O sure they let regular people win sometimes to make it all look legit....
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Indians ladyboys and gold necklaces have been a fixture on Pattaya beach for many a decade...
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Online durian purchase sparks consumer outrage over quality
in Thailand News
Posted
This story smells....