Klonko

TRD will probably set up a system to tap the broader tax base after the the following year remittance loophole has been closed. I do not expect strict enforcement because the cost outweighs the benefits for TRD. I consider a THB 220k remittance hurdle not to be efficient. A non tax paying Thai tax resident remitting THB ≥ 1m per year could be a promising target and better does some tax planning. May be the retirees with the minimum required income will fall out of scope, but nothing is granted.

Nice if the TRD officer is lazy from a tax collection point of view. Less nice if the TRD officer chooses the accounting method which is maximising tax collection. I do not expect TRD to establish consistent rules on accounting and DTA. I would be happy to be proven wrong.

Given your general cautious approach for example as regards gifts, I consider it quite aggressive to recommend the keeping records option even with the hope caveat. I would recommend keeping detailed records in order to be able to use the TRD accepted accounting method once, if ever, TRD has made up its mind, but in the meantime, segregated accounts are the only valid option.

There are quite a few people on this forum and many elsewhere who could benefit from a lifetime Elite Membership. However, such people are likely to have already Elite or LTR visa. Further, a prospective buyer needs to play golf and live in the right area for the perks. BTW, the new point system is rather a sales strategy for cheap charlies than for wealthy people.

Crossing the intersections on this dual carriageway not being able to stop under the assumption cross traffic has to give way is, as said, recipe for disaster. You have a "stop" line on the dual carriageway way, a minor cross road, left (car) before right (tricycle) and the tricycle on the intersection before the car. There is no common understanding of the applicable traffic rule among the drivers using sich crossings The discussion of the right of way is interesting to allocate responsibility after an accident. Else, common sense rules, and you better not drive in Thailand if you do not get accustomed to.

Better than new privilege memberships but expensive compared with LTR.

Insisting on the official traffic rules is a recipe for a disaster especially in Thailand. Both drivers were driving recklessly. I have driven both roads by car and motorcycle and never would drive across this intersection from either side without looking for other vehicles and being prepared and able to give way even if it's my right of way. Anticipating the Thai style behaviour of other drivers, I feel as comfortable as driving in Europe.

From my experience: air transport of (at least larger) motorcycles is limited to cargo planes. You need a box or a platform. Battery must be disconnected and fuel tank (almost) empty. It cost me >USD 4000 for Stuttgart - New York and Denver - Stuttgart in 2005. USD 50 may be for a small pocket bike. AN still preferable to AI.

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.

Thank you very much for case evidence.

As per Mike's comprehensive and deserving tax guide: "Only funds that are exempt from Thai tax or funds on which Thai tax has already been paid, can be Gifted. It is not possible to Gift funds that are assessable income, in order to avoid Thai tax.". I understand there is the argument that funds transferred from a Thai resident benefactor's untaxed foreign income to the Thai account of the beneficiary may be assessable income in Thailand. On the occasion of the Swiss embassy town hall February 27, 2024, after discussing tax qualification of foreign income , the senior Thai RD tax expert answered to the question "How are pre-inheritance and gift funds taxed when transferred from abroad?" with "Under Thai domestic law, exemptions are for example provided for gifts to ascendants or descendants or support payments to spouses and children. In these cases, up to THB 20 million per year are exempted. Exemptions are also provided for payments to persons who are not ascendants,descendants or spouse, if they have moral purpose or and or are in accordance with customs (maximum exempted amounts = THB 10 million).". The quote is from the embassy's transcript and I would assume that the transcript was verified with Thai RD. The quote would not make sense if funds gifted from foreign income accounts were assessable income and not exempt from Thai taxes in principle. Based on this statement, I deem it legal tax optimisation and not illegal tax evasion to transfer untaxed pension funds from my Swiss bank account to my wife's Thai bank account, provided the amounts transferred are less than 50% of our joint living expenses and not passed on to my Thai bank account, and we do not file a joint tax return. Is there any official statement of Thai RD to the contrary? I would not put too much weight on tax consultants with their fee based bias, but rather plan my taxes based on the recent statement from Thai RD.