NoDisplayName

Okay, so you got nothing but propaganda. Yet another anonymous yahoo on the intertubes says "All the Chinese people I met confirm it. Trust me, bro!" And of course they do. That's why the reliance on Youtube propaganda dissemination sites to get the idea into the public perception. Maybe next you can tell me all about "fields of EV's as far as the eye can see, abandoned by buyers all across China." That's a good one!

Or invest that 2 million, over 20 years..... "The S&P's annualized average return for the past 30 years is 7.9%"

Why? Go once per year. Make an appointment, spend at most a couple hours there. Your 90-day reports can be done online.

https://www.eslcafe.com/

It all depends on whether Thailand enacts worldwide taxation, and how it gets implemented. From the little we know so far, I would potentially be looking at an annual Thai tax bill of $10,000 with nothing to show for it. If so, then <180 for sure. No real reason to stay, other than the wife owning a house. Other countries have houses. You'd think a $25,000 bond and 90-day reporting to a probation officer would be enough!

Easy-peasy. IO can simply ask for a tax clearance certificate, available from local tax office. Not even sure that would require any change in policy, as the requirements for an extension include a list of documents along with the catch all statement something similar to "and other documentation as requested by IO." https://www.rd.go.th/fileadmin/download/english_form/Por1_151062.pdf

We're on the same page. Interpretation is how the officials understand the meaning of the words of the text of the law. Enforcement is the actions they take to, umm,....enforce their interpretation. You might consider public notification of the change in policy interpretation as a form of enforcement.

Uh, sure. The law on remittances was passed long ago, it hasn't changed. The "interpretation" (how it is enforced) has. The change went into effect January 1st for tax year 2024. You will see the results of the change of interpretation/enforcement early in 2025 when expats begin filing their 2024 taxes. Why would you expect to see 'enforcement' now, before tax filing/payment is due? The only exception to the above I can think of is anyone filing half-year 2024 tax returns.

Let's ask the experts! Tax Clearance Certificate https://www.rd.go.th/english/23518.html Last updated: 23.11.2020 Looks like even tourists spending >90 aggregate days in Thailand who have any tax liability must apply for tax clearance according to the law. Enforcement is simply temporarily suspended. That suggests it could be required for anyone tax resident with a bank account earning interest.

If a law is on the books, but not enforced, surely a simple policy change could bring it back to life. Isn't that what happened with the change to how the law was enforced on taxation of remittances?

That's for WISE pulling from your bank, and will take additional time. If you send from your bank to wise, it's immediate (*), and the ACH fee is $0.00 (*) Unless you have a credit union that batch processes transfers at midnight.

What are these apps of which you speak? I spent nearly 15 years there in China, just recently retiring to Thailand. They have tracking apps for the covids and such, but not the 'social credit score' as depicted in the propaganda videos on the Youtubes. Send me the names of the apps and I'll research 'em. If you're correct, I definitely wanna know!!!! I've been worng about things before.

Look for a "beach cruiser" in this style.....

Pssst............China doesn't have a 'social credit score.' That's falun gong propaganda, rehashed on disinformation websites. There was a proposal by a provincial governor a decade ago, and a short-lived pilot project in a couple districts of one major metropolis, which never amounted to much. But no, no 'social credit score.'

Is that a mini-heart gesture? 🤞 Burn the witch!

Arisa can close her windows in the morning. Or she can move elsewhere, and promptly decide to tell her new neighbors how to live.

🤞

I hope justice is served. She needs to pay for any scratches to his pickup.

No, only for us po'folks. It's a combination of standard deduction and special 0% tax rate on LTCG for those in the lower TWO tax brackets. If you have no earned income, you can use the entire first two tax brackets ($41,750 in 2024) to soak up your LTCG. The amount you can take at 0% is reduced by earned income going into those two brackets. You'll then be using the "qualified dividends and capital gains tax worksheet" to figger your tax instead of the tax tables. Foreign earned income (tax-free) counts against the 0% allowance. I'm not sure if SocSec does, but assume it probably would. I'll need to confirm that in a few years when I start to collect.

It CAN be true, depending on your circumstances. It is for me, using IRS rules to my benefit. I sell stocks/funds to immediately repurchase, resetting the cost basis, taking the capital gains NOW (at 0% tax) so as not to sell later at potentially higher rate. Tax-free overseas income will lower the 0% bracket, and I believe SocSec payments will as well. If I reach taxable limit, I can sell some losses to offset gains. Single filer in 2024 gets a standard deduction of $14,600. If not earning salary, the entire first two tax brackets are available as 0% tax on long term capital gains, in 2024 that's $47,150. Tax free in 2024 = $61,750 for single filer. (Married gets a higher standard deduction.) At current rates, that would be 2,081,949.98 baht tax free. US IRS standard deduction and 0% tax bracket on LTCG is not recognized by Thailand, so this is all assessable and taxable as ordinary income under Thailand's potential global taxation scheme. Capital gains on stock/bond/fund sales is not taxed in Thailand, for SET registered assets, thus NO capital loss can be used to offset tax. If you used any capital losses to offset your gains to reduce your US taxes, add those back in. They are disallowed. The standard deduction for a single filer under 65 is 60,000 baht. Now go figure your tax bill on 2 million baht. Don't forget to add tax for your offsetting LTCL!!!! Just two years of Thai global tax ($10,000 annual) will pay for outright purchase of a decent condo in Vietnam or Cambodia or Philippines.

Not salary. Under discussion is capital gains from sales of stocks or mutual funds. In your home country losses offset gains. You make $20K on one fund, you lose $20K on another - loss offsets the gain, $0 profit, $0 tax. Thailand does not allow for offsetting gains with losses, so you will be paying tax to Thailand on $20K you earned overseas as ordinary income.

You are misunderstanding this. Thailand may have a higher tax rate on certain types of income. If not excluded by DTA, that income can be taxed. You may, or may not, be able to claim a credit for tax paid to the other country when taxed in Thailand. You may, or may not, be able to claim a credit for higher tax paid to Thailand. Thailand does not recognize exemptions and allowances and special rates allowed under foreign country tax codes. Thailand has it's own exemptions and allowances, and will tax the foreign income BEFORE those exemptions/allowances were applied. Your home country may give you a $12,000 personal exemption. Thailand will give you $1,750 on your foreign income before exemption. Your home country may allow you to offset capital losses against capital gains. Thailand does not. You will be taxed on the total capital gains. Losses are disregarded.

Six-year rule resets after one month outside. .....away from the PRC on a single trip for more than 30 consecutive days in any of the tax years.

You mean 'the rich' who own the majority of stock in Thai corporations? Shirley, it's just a coincidence that capital gains on stock sales (SET stocks) are tax-free.

Not really. They'd be fine with a standard dual-line modern railway network running at medium speed with guarded crossings.