
NoDisplayName
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Everything posted by NoDisplayName
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Your situation appears quite simple. Your only remittance is an assessable pension, which is your only relevant source of income. You're here >179 days, remit > 60K/120K baht. You're tax resident, above the filing threshold. You get your 60/120K, your 100K exemptions, and 190K if >65, plus the 150K 0% tax bracket. You do not deduct non-assessable remitted income. You do not take a foreign tax credit. You file, you declare the total remitted, you pay tax. Use the short form PN91, as pension is considered derived from employment. You can file online if you have a TIN or activated pink ID number, should take 15 minutes if you have an assistant or can read Thai. Most of the form is pre-loaded, your return only needs you to enter numbers in a couple of blanks. Calculations are automatic. When you file, you can download your Thai language return digitally stamped as accepted by TRD, and your receipt for payment of tax. Every year, if no changes........lather, rinse, repeat. Super easy, barely an inconvenience! ***CAUTION: OPINION ONLY, NOT ADVICE. NOT FOR RESALE. NOT FOR INTERNAL CONSUMPTION. BEST IF USED BY (see label)***
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Here's a REAL tax expert. On the YouTubes, and he's wearing a collared shirt with long sleeves. At 5:30, he says.... "....then we look at what they bring into Thailand, so if they bring in pension income, we have to look at where the pension income's from. If it is from the US..., so social security money, umm, then that is not taxable. It's not assessable income, so for these people, if that's their only source of income, for your US listeners and viewers, if their only source of income is US social security, or military pension, or they worked for the US government, like a federal pension. This is not assessable income. They don't need to file a tax return for that income. They don't need to do anything." He then goes on to speak a bit on UK pension types, claims you CAN take a tax credit, but of course doesn't explain how. At 8:40, he lists some forms that are excluded, and are not assessable, and he repeats those people with only this type of income remitted do NOT need to file a tax return and do NOT need a tax ID. Those include US socsec, Canuck pension, and most DTA's cover government civil service and military service pensions. Look at that face. How could he be worng!
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I consider my non-O (for retirement) nothing but an annual tourist visa. Accordingly, I don't bother learning the language. On a good day, I can recite 6 of the numerals in Thai. As to writing, I can draw a fishhook. The End. If the locals want to speak with me, they can speak English. Or German. Or Mandarin.
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You can file three past years online. In person? Dunno, maybe same, maybe farther back. Last July, I filed online returns for 2021, 2022, 2023. Only one late filing fee was charged, paid online by bank xfer. Received refunds for interest and dividend withholding tax for all three years. that I had blown off as not worth the trouble to file for. I wanted to learn how to use the online system, and to have a record of filing returns...........just in case.
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Monday will be day 27 of the 2025 tax filing season. That's 30% gone. Soon to be 1/3 over. You still think new, revised forms, different than the already published Thai language forms will be coming out? And that tens of thousands, nay, millions of early-bird filers will have to re-file? My pixelated 8-ball says "Outlook Not So Good."
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Destination. Never remitted, never assessable. DTA's, royal decrees, tax regulations determine whether a remittance is assessable/taxable. TRD says assessable is taxable, and is used in PIT calculations. Non-assessable is not taxable, and is NOT used in PIT calculations. For the time being, we self-determine which remittances are assessable, taxable, and must be included in filing if over the 60K/120K assessable income threshhold. If US sociable security were assessable, every US tax-resident receiving social security would be over the limit and would be required by law to file a tax return, would have to claim exemption under DTA on the tax return, and claim credit for tax paid in the US on social security benefits on the tax return. How many US tax-residents have been told by TRD to declare their US social security? The "tax expert" said it's assessable! We got a YouTube video! That means it's truly truthy! "The first rule of assessable club is not to talk about remittances"
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Please relate YOUR experience of filing a tax return declaring ALL remittances, YOUR experience deducting income deemed non-assessable by DTA or royal decree or Thai tax regulation on YOUR Thai tax return, and YOUR experience claiming a foreign tax credit on YOUR Thai t......... Oh, wait. This is all speculation. You haven't filed a Thai tax return. You haven't declared assessable AND non-assessable remittances on a Thai tax return. You haven't deducted non-assessable remittances on a Thai tax return. You haven't claimed a foreign tax credit on a Thai tax return. You HAVE posted misinformation, though, so I guess that counts as something.
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Tax files
NoDisplayName replied to newbee2022's topic in Jobs, Economy, Banking, Business, Investments
Oh, gawd, you're not bringing up CRS, are you? -
No tax on capital gains from sale of SET stocks. No deduction of capital losses when calculating PIT. 10% tax on dividends withheld at source. You can claim a refund of dividend withholding same as for 15% bank interest withholding. If you prefer mutual funds sold through banks, most are structured to not pay dividends. (No dividends to tax.) No tax on capital gains from sale of Thai mutual funds sold through a Thai bank or brokerage. You can buy Thai-registered funds that simply hold a single overseas fund. No dividends paid, and no capital gains tax rule applies, but you'll be paying multiple layers of management fees. If you are property of the US government, Uncle Scam will want his cut of your Thai-sourced interest and dividends and capital gains.
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I spent two hours helping a girl to get a new job
NoDisplayName replied to steven100's topic in ASEAN NOW Community Pub
If they say they want work, it's the same as the folks sitting at the expressway offramp with a sign stating "will work for food." Offer them work, and suddenly they have so many appointments. They want the paycheck without the manual labor middleman. "I'll glady not show up on Tuesday for a free meal today." -
Thai monk’s death linked to congenital disease, not dog attack
NoDisplayName replied to snoop1130's topic in Bangkok News
No autopsy? Well, okay then! Chalk it up to "brake failure"! -
JFK assassination papers declassified !
NoDisplayName replied to dinsdale's topic in Off the beaten track
But not "all". "Some" unredacted material was released. Releasing unredacted "FOUO" documents is not the same as releasing unredacted "Secret" documents is not the same as releasing "Top Secret" documents is not the same as releasing "If-I-Tell-You-I-Gotta-Kill-You" security level documents. FBI, CIA, and 17 other intel agencies all have a say. -
The limit is 60K (single)/120K (married) baht of assessable remittances technically requires filing a tax return. In practice, many TRD offices don't want a filing unless tax is due. The other number quoted was the limit of assessable remittances after TEDA where tax would be due. Your limit depends on your TEDA. Pre-2024 earnings, and income exempted by TDA are excluded from PIT calculations and don't need to be reported. ......................at least not yet.
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Thailand Introduces Online TM6 as Tourism Fee Faces Delays
NoDisplayName replied to webfact's topic in Thailand News
I often cycle tour through China, Laos, Cambodia and Thailand. Throw the cellphone in the sockdrawer and travel free of interruptions. -
Thailand Introduces Online TM6 as Tourism Fee Faces Delays
NoDisplayName replied to webfact's topic in Thailand News
(3) Tourists will be required to download and activate the immigration department's "SMART TM-6" app into their phone which will track the crim....oops....will track the tourist's movements via "SMART-GPS" and will report to the immigration department's online "SMARTBASE" hourly. (4) Any attempt to disable the "SMART TM-6" or failure to report will result in the release of a fleet of BMW "SMART-CARS" to detain the offender and place them in "SMART-LOCKUP" for persecution.