Everyman

It basically is common knowledge in the sense that the information is easy to find. The American tax system is big and complicated though and not everyone has personal finance as a hobby. Here is the IRS page about it https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion It can be a bit confusing with the “tax home,” thing, but the important part is the “physical presence test.” And the amount for the 2023 tax year is $126,500. I was just being approximate with the “six figures.” As I mentioned however, if you are self employed and your income comes from the US you’re on the hook for at least about 15% and there’s nothing you can legally do about that.

There is a randomness implied about “Murphy’s Law,” but the financial system isn’t random. The reasons for things may not be clear, but that is different from being random. In this context, Murphy’s Law is more a statement of ignorance. Which satisfies Occam’s Razor. The short version: The simplest explanation is that you don’t understand what’s going on and you call that “Murphy’s Law.”

As much as people complain about the American system, if you make under six figures in USD and live outside the US you don’t pay any taxes to America unless you are self employed. And then, it’s social security which you conceivably get some benefit for some day. But this requires that Americans understand the tax system and file the right paperwork which many are strongly averse to, it seems.

How exciting! Have any of you tried this yet? I would but I’m in Pattaya.

You could have your “total limit for online spending” set to 0. There’s a menu in the BBL app as shown in the attached photo. You could also be entering the card information wrong. I think if there is no name on the card there shouldn’t be a name entered, or if it says “Valued member” or whatever, that is what you enter not your real name.

So your conclusion is that the global mastercard network doesn’t work? Maybe apply Occam’s Razor here and realize it’s probably a setting on your account. Further, realize that an account at SCB might have the same issue.

Nobody pays taxes to Thailand on worldwide income because Thailand doesn’t do that. What it does have is mouthy officials who love to announce things that never happen. And foreigners that believe them for some reason.

Part of the problem is that the thai tax code is too primitive to exploit these kinds of clever loopholes - it doesn’t have them. It even taxes capital gains as normal income. It’s easy for rich people to just get on a plane and go somewhere that doesn’t reach into their pocket.

So your friend brings in at least 200,000 baht per month, using some reverse math. So that’s nearly a million baht every 6 months that he won’t be bringing into the kingdom. All due to the hysteria and run away speculation. Thailand needs to clear the air on this, who knows how much money they’ve already lost.

After one year with no activity and a balance less than 2,000 baht a monthly fee will be assessed each month until there is a negative balance at which time the account will be closed. This in addition to the yearly debit card fee.

I smoked weed on and off from 18 to about 40. I quit because I stopped enjoying it. In hindsight, I made some dumb decisions in my life when I was on it, that made things harder than they needed to be. I’m glad to be on zero substances at the moment, no cigarettes, no caffeine, no weed no alcohol.

Probably zero. This thread is exhibit A for why even if the worst rumors and speculation about new enforcement of the old tax laws are true, then the sensible thing to do is keep money offshore and/or don’t come to Thailand more than 180 days per year. Both cost the Thai economy more money than any revenue they might collect, and it’s a net negative. But personally, I’m looking forward to the conversation in April about despite *NOTHING* having happened, but about how it will in June or January or the next BS milestone.

I am legally disabled with documentation from my home country showing this. However, my disability is “invisible.” Do they require the disability be obvious?

Any updates on this? I am in Bangkok and eager to open an account at SCB. I have a DTV. I was rejected by them a few months ago and don’t want to bother if they are going to turn me away anyway.

Oh…I have an invisible disability. I guess that’s “better” except people don’t believe me.

If even the revenue office doesn’t know about any “new rules,” then surely there is nothing that needs to be done with them?

Many years ago I was an English teacher in Bangkok with a NON-B visa and work permit. I recall that I was paying taxes as well. However, aside from my cancelled work permit from long ago I don’t have any documents. How do I find out what my number is? Do I bring my old work permit to any revenue office? Does it have to be the office for the area where I worked?

I find this situation an effective counter argument to claims that “Thais will never turn down a baht,” in the context of the tax situation. DTV holders have had to show at least half a million baht in a foreign account. You would think the banks would want those funds. I suspect someone may chime in that half a million baht is “chump change” or something. I’m not interested in such bragging.

Have any U.S. citizens received this email who opened their accounts (somewhat) recently and already filled out the usual FACTA forms? The US is not a signatory to CRS, but they do have their own crap so hopefully for US citizens this is limited to older accounts that don’t have FACTA on file.

I The more money a foreigner has, the easier it is for them to leave Thailand to avoid any tax liabilities. In that light the kingdom would lose more money than they gain and “walking away from a baht” would be to try to enforce any of the harebrained proposals. The only ones they “have by the b*lls” are pensioners who who can’t afford to leave and they aren’t going to pay anything under any of the scenarios.

Health insurance is not required for the DTV.

Wow, you replied to a six year old topic. Nice necropost.

Why bother with all that? I transferred to my Maya account and they didn’t ask me a million questions. And i pulled PHP out of the ATM with my Maya card.

The author of the article seems to not know what they are talking about and has conflated a bunch of different things such that it makes no sense. But one fact we can be reminded of is that there is no global taxation law for tax residents in Thailand and there may never be one. Honestly, if there was one, what rich person in their right mind would open themselves up to the revenue department of a notoriously corrupt country to plunder whatever they wanted from their accounts? Nobody, of course, the wealthier they are the less likely they would be to stay.

Notice there is absolutely zero mention of the police determing where they got it. They were probably used to weak, “stepped on” ketamine from overseas and the ended up with the real heavy duty stuff from a dealer in Thailand.