Naam

19 hours ago, DogNo1 said:

I will be transferring 780,000 baht's worth of my retirement income into Thailand each year.  My retirement income is taxable and I pay tax on it in the USA.  The Thai Government requires (but as of now doesn't check closely) that the money that you transfer into the country comes from retirement INCOME, not savings.  Technically, it can't have been made in a previous year so it can't meet that particular Thai tax exemption. It may not be Thai practice to tax foreign-earned income but what is the law?  Two years ago, none of us were worried about paying tax to Japan for our foreign-earned income but now we are.  The new law taxing foreign-earned income was passed in 2017.  The Japanese Financial Times, the Nikei Shimbun and other economic newspapers stated that one objective of the law was to catch wealthy Japanese tax evaders who stashed their money abroad.  As we have seen recently, Thai immigration policy can suddenly change.  So, I assume, can Thai tax law.

it goes without saying that tax laws can be changed. but one has to look at the background to evaluate the probability. and the background is that those with economical and political power are benefitting most of the prevailing practice "no tax on savings".

16 minutes ago, khunPer said:

Not really, it works for my home country, so not only theory, I talk from (positive) experience with advanced approval from the tax authorities, and as specified in the double taxation agreement. The 15% works for dividend from my US-stocks...????

good for you. i don't invest in any asset where tax at source is levied.

2 hours ago, david555 said:

This...in yellow marked 

Thai Bank regulation BOT.pdf 75.42 kB · 1 download

and who's following this regulation?

40 minutes ago, gamb00ler said:

The US does allow a generous foreign earned income exclusion of $105,900 for 2019.  You will only pay tax on earned income exceeding that exclusion.  But if self-employed you would still pay FICA on your income.  See IRS Pub 54 for details.

does not apply to investment income!

15 hours ago, david555 said:

More.....take  attention even that the foreign value on no need to declared cash normally must exchanged in that 365 day frame …… so normally may not keep it in foreign currency longer than  365 days 

I wonder how many of us do that anyway as a safe heaven ...

says who?

8 hours ago, ukrules said:

This is the first I'm hearing about it.

sorry misunderstanding. US and Eritrea are of course the only taxes which tax a citizen living abroad.

15 hours ago, khunPer said:

Thanks for clarifying.
 

However, the 10% dividend tax was mentioned here, as some countries would tax dividend with the 10% Thai taxation due to double taxation agreement, if one proves that the dividend is transferred to Thailand the same year as earned; for example my Scandinavian home country instead of 27% dividend tax...????

If dividend is transferred into Thailand the following year, or later, it would be tax exempt in Thailand, and therefore could be taxed with the home country percentage or 15% for residents living abroad, depending on local tax rules.

nice theory but i'm afraid to implement in practice would be rather difficult.

5 minutes ago, ballpoint said:

One rarely sees such a bundle of hearsay, misleading information and downright ignorance outside the visa discussions.  Shouldn't this thread be in the jokes, laughs, and other fantasies forum?

11 hours ago, ukrules said:

On 4/7/2019 at 5:01 PM, SCOTT FITZGERSLD said:

has to DECLARE ALL HIS ASSETS ALL OVER THE WORLD !!

That's an American thing.

there are many countries with that kind of tax laws besides the U.S.

19 hours ago, DogNo1 said:

I don't know Thai tax law but certainly there must be a foreign earned income exclusion.  I wonder if it would be equal to or higher than 800,000.  Does anyone know?

there is none as Thai tax practice is basically "no tax on foreign income".

On 4/8/2019 at 2:21 PM, khunPer said:

Thai dividend tax is 10%, so paying Thai dividend tax might be better than one's home country tax

Thai dividend tax is levied only on dividends of stocks bought at SET and held in a Thai account.

19 hours ago, GroveHillWanderer said:

Did you hear about not crossing your bridges before you come to them? If and when the Thai tax code requires all tax-residents to declare all assets world-wide (if it ever does) I'll worry about it then. I'm not going to get myself all bent out of shape about it just yet.

 

According to the website globalcompliancenews.com, even after CRS comes in, it's still not clear that all worldwide assets will need to be declared. Their assessment of what it will mean in Thailand is as follows:

Quote

foreign-sourced personal income is only taxable if brought into Thailand within the same year it is earned, while corporate income tax is imposed on worldwide income regardless of whether the income is repatriated to Thailand.

corporate income tax on offshore proceeds applies only to Thai companies.

20 hours ago, SCOTT FITZGERSLD said:

where you are actually (physically) resident HAS ANYTHING to do with where you are (and remain) a tax resident. THIS IS THE THAI LAW NOW. if you stay in thailand - no mattar on which kind of visa - for more than 180 days a year, you have to pay tax in thailand.

absolutely **&^%$

Quote

  Taxpayers are classified into "resident" and "non-resident". "Resident" means any person residing in Thailand for a period or periods aggregating more than 180 days in any tax (calendar) year. A resident of Thailand is liable to pay tax on income from sources in Thailand on a cash basis, regardless where the money is paid, as well as on the portion of income from foreign sources that is brought into Thailand.

 

Individuals residing for 180 days or more in Thailand for any calendar
year are also subject to income tax on income from foreign sources if that income is brought into Thailand during the same taxable year that they are a resident.

 

3 minutes ago, lannarebirth said:

She's only getting around to that now?

the favourite dish of her late mentor Chancellor Helmut Kohl was "Saumagen" which is the German equivalent of Haggis (but delicious!). the latter caused her hesitation.

14 hours ago, Loiner said:

Project Fear 2.0 notched it up a bit more today. Threats that we won’t be able to take pork pies, Cornish pasties or scotch eggs into Europe after Brexit.
Could it get any worse? Yes, also warnings that there will be a fish and chip shortage! You couldn’t make it up. Well... the Remainers just did.

Chancelor[ette] Merkel issued yesterday an executive order which bans imports of Haggis after Brexit.

4 minutes ago, dick dasterdly said:

The 'claim' was nothing of the sort.

 

It was the youngsters' belief.....

tell me what part of

Quote

the E.u’s threat to make it difficult for Brits to travel for holidays on Europe by air or car

is it you don't understand? i will try to explain even though English is my third language.

Just now, dick dasterdly said:

So you agree that there are many examples of stupid remainers and leavers?

your sidestepping tactics don't work with a stubborn German. try harder.