Klonko

I plan to import front and rear shocks for my motorcycle which parts are not available in Thailand, value < THB 100'000. I would prefer to use a shipping company such as DHL if the customs clearance can be handled by them or an agent and I do not have to travel to customs. Else I could bring the shocks with me when my wife and myself will return from Switzerland. Our main domicile is Thailand. What is your recommendation (I will not gamble on the green customs channel).

It shows that record keeping and respective potential discussions with Thai RD will be cumbersome. I have remitted a large amount in my non-tax resident year 2023. keep some existing savings on a non-interest bearing account for later tax free remittance, and I will use remittances with DTA credits only as last resort.

Your statement re Swiss pensions is not correct. There are two type of pensions in Switzerland, the federal first pillar pension and the second pillar pension from employment. If the employer was the state, a public subdivision, or a local authority thereof, the respective second tier pension is taxed in Switzerland and exempt from Thai taxes. All other pensions are not taxed in Switzerland and constitute assessable income if remitted to Thailand.

Where do I get a decent espresso or ristretto like in almost every bar in Italy?

LTR is also for true millionaires which do not need to show off and can still walk to the fast track line. I expect many existing Privilege holders to switch to LTR upon membership expiry. You do not become and stay millionaire wasting money.

Two years ago 5 years DL at Banglamung and 3 years IDP at Chonburi. 2 year extension may be a problem because AFAIK IDP requires for 5 years DL.

(1) Accounting method for commingled funds (no clue at all). (2) Gifts from untaxed foreign income (though I feel rather comfortable with my modus operandi). (3) Tax filing if no taxes due (bureaucratic hassle). For

This was also my initial thought, but not (cost) efficient for my actively managed investment portfolio. I now work with funds remitted to Thailand in my non-Thai tax resident 2023, funds on a foreign non-interest bearing account, gifts to my wife and the possibility of DTA eligible income, ensuring a favourable tax situation for many years.

Assuming pre-Thai tax residence savings of EUR 1m generate EUR 50k annual income and remitting EUR 50k = THB 1.9m every year. TRD has not confirmed the applicable accounting method(s) for traditional savings. Applying FIFO, no assessable income and no tax due for 20 years. Hurray, but good luck if TRD will not accept FIFO and taxes are due. In my situation I would love FIFO, but I will never risk it given the current state of information.

Nobody knows if TRD will apply FIFO, LIFO, poisoned account or another method, consistent across TRD offices, or leave the choice to you. IMHO only valid recommendation is to keep savings and DTA eligible income on separate non-interest bearing accounts for later tax-free remittance to Thailand. Choosing a specific accounting method now may burn you.

You must file a tax return if you have assessable income above low thresholds. But you only will be fined (severely) if you do not pay taxes owed, i.e. if assessable income minus allowances etc. is higher than the first tax free THB 150k bracket. The general consensus seems to be: you have to file but no consequences if no taxes owed.

Last year, I wanted to diversify my banking relationships geographically and approached Singapore banks, which, however, could not accommodate the investment in an Irish ETF on the MSCI World ACWI.

Because irrational bureaucracy is not limited to Thailand. If there is a principle that all offshore tax residents should provide their tax identification number in order to facilitate CRS-exchange, bank compliance may rather close an account than work with exemptions. I have two Swiss bank accounts and one bank (not UBS) already warned me to provide a TIN. I will rather get a Thai TIN, if necessary by declaring assessable income or some taxable income, than having accounts closed.

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Thanks for the case doc. Based on marital agreement concluded in Switzerland, which is honoured in Thailand, I will not have conjugal but separated property. Else it could be argued that my pension income in Switzerland is conjugal property and transfers are partially a gift from my wife to herself. With respect to joint tax filing, I consider it a little contradictory to claim THB 60k spouse allowance on the one side and keep the gift tax exempt on the other side. I could organise myself with zero taxable income and provide respective documentation, but I consider to come up with a tax payable equal to the withholding tax on the interest on my Thai bank accounts, not reclaiming the withholding tax and hopefully keeping the tax man happy and less motivated for cumbersome inquiries.