
NoDisplayName
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Yes, you can upload required documents when you file online. If you do not, your return will still be approved, but you'll get an SMS advising you to check status online, and will be directed to upload missing paperwork. Check status on the web address where you filed, then go to a different address, log in and upload. https://efiling.rd.go.th/rd-efiling-web/authen/MTA2 I've had requests to submit a scan of my passport, bank tax withholding statements, and a photo of my marriage certificate as filing jointly. There has been no question of my null filing, no request for proof of sufficient funds, no demand to show how I support my extravagant foreigner lifestyle. Basically just to properly identify myself and the person filing with me to check boxes and put us in the right category for processing, and then proof of tax withheld for the refund requested. We're still in self-determination land. I haven't declared any remittances, so don't know if anything would actually be demanded UNLESS you were claiming a foreign tax credit. If no tax due, that's the end of it. I tax due and you pay, that's the end of it. We'll have to see if online filers start getting requests to show proof. In my limited experience in-person in Bangkok and Korat and online, nothing was asked for regarding remittances. In Korat, i showed the TRD lady a handwritten list of Wise transfers (date and amount), she asked "salary or pension", I said "savings", she said no file unless wanting refund of tax withheld.
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what money is taxed 2024 ?
NoDisplayName replied to Carver2's topic in Jobs, Economy, Banking, Business, Investments
Some of the taxspurts have said this sort of remittance would of course not be savings. You would be remitting a sum consisting of part capital gains and part initial capital. The problem is how to account for this. ALL examples we've seen are simplistic, remitting the entire proceeds of the sale. There is no explanation of how to account for partial sales, or how to declare partial remittances. Some have said various accounting methods may be used, but of course, there's never a real-world example provided. Some have stated that partial remittance of a complete sale of a holding would be part capital and part gain, again with no example given. There's been no official word that when we sell a holding, we can't separate the capital from the gain, remit the capital (at what cost basis???), and retain the gain in our offshore accounts. We haven't been told what the cost basis should be........is it the cost of stock purchased in 2013, or is it NAV at COB 31 Dec 2023? I don't plan on paying tax on a decade's worth of unrealized gains, pre-2024, while NOT tax resident. -
what money is taxed 2024 ?
NoDisplayName replied to Carver2's topic in Jobs, Economy, Banking, Business, Investments
That could work to our benefit, as well. This year's rental income can be used to purchase a Trump memecoin and voila!, it's no longer income, it's a capital asset. Then it can be sold for cost, and voila! again, now it becomes savings with no gain! How are they going to track what any specific remittance is, and somehow match it to transactions that occurred years in the past? I don't think they thought out their plan to become the hub of tax interpretations, as they apparently believe rich foreigners all keep their money in physical bank vaults, and visit once a month to take their heirs swimming in gold coins. -
what money is taxed 2024 ?
NoDisplayName replied to Carver2's topic in Jobs, Economy, Banking, Business, Investments
There are allowances on the tax forms to deduct health and life insurance premiums (I think total max 100K?), but premiums must be paid to a Thai insurance company. See page 5 of the tax return, the allowances/exemptions attachment, line 7. Once totaled, they are deducted on the tax calculation, No. 11(2) https://www.rd.go.th/fileadmin/download/english_form/2023/attach9091_220367.pdf -
For the majority of government employees, acquiring and maintaining a security clearance is a must. As a result, it is normal for many government employees to experience anxiety about their clearance, because if it is revoked or denied, they would most certainly lose their jobs. And that's the problem, some "people" have no shame. And you want them handling nukular secrets.
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Deputy Assistant Secretary for Spent Fuel and Waste Disposition in the Office of Nuclear Energy in the Department of Energy DoE executive position lose security clearance. No tickee, no workee. This really the mound of sweaty, leather-clad puppyphiles you wanna die on?
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In February 2023, he was charged with grand larceny for allegedly taking Tanzanian designer’s Asya Khamsin’s luggage from Ronald Reagan National Airport in Arlington, Va. It was the third such incident of luggage theft Brinton was allegedly associated with. No security clearance for you! Woof!
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Were they ever there? I mean outside of unsubstantiated reports citing anonymous western intel officials familiar with rumours of persons claiming to have third-hand knowledge of unsubstantiated reports?
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Foreign Motorcyclist Killed in Early Morning Crash in Pattaya
NoDisplayName replied to Georgealbert's topic in Pattaya News
Hope the innocent trees will be okay. I'd be willing to donate to a fertilizer gofundme. -
Thai court rules traffic fines unlawful since 2020
NoDisplayName replied to snoop1130's topic in Thailand News
So after this, back to setting fines on the roadside based on how much resides in your wallet? Oh, this will end well. -
Not arguing. Merely asking for clarification. This is all new to most here, and the rules are.........complicated. Asked about tax credits, because none have reported actually filing with a tax credit approved. (unless I missed one) Asking whether your interest (which really wasn't interest?) was earned pre-2024, but TRD wouldn't let you claim prior savings. It appears you could easily have self-determined, and provided documentation if asked, that your remittances were all non-assessable. In that case you didn't need to pay tax, didn't need to file, and may not have even needed a TIN. It appears you chose to self-determine, for your own reasons, that your remittances were assessable, and chose to owe tax. Again, not arguing, asking for clarification. Your case would be atypical.
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If you had entered your foreign interest in 40(4), the system may have required matching with bank withholding records, with option not to declare if tax paid. Might be that the system is designed for the Thai banking system with interest withheld at source, and taxed at a standard 15%. Foreign interest likely does not fall under the Thai 15% rule, and is taxed as normal income, according to your specific tax bracket. Putting the foreign interest as "derived from employment" means you should have paid tax at the 5% rate. That also allowed you to take the 100K exemption. If declared as interest, the "pension expense" would not be applicable. Just my guess.
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Not in the sense you've been preaching. The tax filing season is now 40% gone, and the year is 1/10 over. No new tax forms have appeared, no changes have been initiated by immigration, visas and extensions continue as before. There shan't be any surprise immigration changes this year, nor likely next year, or even the next. A major change such as immigration demanding tax clearance certificates will require muchly prior notification. I've got online null returns, with tax withholding refunds, for the past four tax cycles, so would not be affected. I'm not advising anyone NOT to be prepared, only that I don't believe your fearporn warnings need be taken seriously.
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3 foreigners caught in Phuket for illegal motorcycle modifications
NoDisplayName replied to snoop1130's topic in Phuket News
shame? it's a money maker. out here the local inspection shops will rent temporary fixes to illegally-modified vehicle owners for the 3-minute inspection. -
Bangkok's New Bus Shelters Spark Controversy Over Design
NoDisplayName replied to snoop1130's topic in Bangkok News
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As long as you remain under the your TEDA to owe taxes, you're fine. You're just adding extra, unasked for documents. No problem to pay tax due online from within the system by bank transfer if you do owe, but if you plan to claim a foreign tax credit, you'll probably need to file in person. We know about the section 11(13) workaround a couple of folks have been advised to use to deduct foreign tax, but seemingly not possible online, as that section is completed by the system.
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Did he? Let's hear from some posters who can translate what the man actually said. It was uncomfortable from the start, as foreign guy was accusing TRD staff of incompetence. Translator says "sensative question... hahahah ..(nervous laughter)" to which foreigner guy gives him an out by offering stupid foreigners can't speak Thai. TRD legal guy speaks for well over a full minute, and translator guy and foreigner guy agree it's just a language issue, so just bring more paper. He didn't address the issue. Foreign shows up, claims need to file due to assessable income, TRD official either isn't interested or doesn't know how to do the job. Watch the body language of TRD legal guy during the explanation. If he was in court for a parking ticket, the jury would find him guilty of murder! Foreigner guy just goes along with the farce, "just need to take documentary evidence to prove you owe tax." "and yeah, ok, clear, that makes sense."
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Another Expat Tax video on the Youtubes, thoroughly frustrating. TRD legal guy drones on endlessly, translator gives a short, muddled, sort of English version, but can't seem to follow the script. Foreigner guy asks what to do if we get conflicting statements from TRD office, if you know you owe tax and need to file, but TRD staff send you away. Answer -- basically, learn Thai. Foreigner guy asks about filing requirements for non-assessable income. Answer -- if your social security is not assessable, however if you bring the assessable income and you want a tax credit you need to file the tax return. Foreigner guy asks about prior "cash in the bank"...and he quickly under his breath adds "pre-2024 income that is actually moved into cash." Foreigner guy gets the expected, known answer and says "just for cash in the bank, not pensions, not investments. great, that's really useful. fine, so moving on...." But we already know this, ask the real questions, dammit! Why move on, instead of following up with, "well, what about investments pre-2024?" Sad. Bigly sad. A prestigious internet law firm should be able to hire a competent translator.