chiang mai

The Chinese have lived in Thailand since the 13th century, their numbers increased substantially after the fall of Chiang Kai-shek. Nearly all the very very rich in Thailand have Chinese ancestry.

I used to get shin splints from running on concrete roads AND shoes that weren't cushioned sufficiently to absorb the shock. Since I changed shoes and bought decent ones, the problem went away.

Indeed it did say that and it was changed but posts that commented on the original were left in place.

You can't, unless you are married to a Thai who is a government employee and you are enrolled and insured under her health care insurance.

True, but now we have the added difficulty of trying to sub dividxe the account value three ways, for Thai tax purposes, cash that is not assessable, capital gains that is excluded under Por 162 and capital gains that is assessable under Thai tax law. None of that is even remotely simple of likely, IMO.

Apart from the practical aspect of valuing an asset as of 31/12/23 and separating the before and after components, there is no gain in Capital Gains, until the asset is sold when the gain is realised.

You weren't in the thread before changes were made.

One year longer than your life span. 🙂

I suspect not, although using a tax expert may provide some mitigation.

Yours is the best and most convincing evidence to date that it is exempt, thank you for saving everyone from wasting time with home grown arguments.

This was my entire point, anything more than fairly small amounts are not always available on demand, the currency has to be collected/ordered from branches.

It isn't necessarily just the contents of the account, it's the nature of the account itself which comes with rules and restrictions, particularly relating to withdrawal of funds and the taxation of those withdrawals. A cash account is fully convertible, fully flexible and comes without restrictions or tax.

I think that in order to decide what it is, you first have to decide what it isn't. Using that logic I conclude that those accounts are not cash and not freely convertible, by default they more closely resemble capital investments and the tax treatment of them is probably no different from that of any other form of markets based investment that incurs a capital gain. If the account was real estate, it also could have a valuation dated at year end, making past profit income free of tax under Por 162. But because you are unable to ring fence that income, the following day, on 1 January 2024, the value of the property increases and you have commingled funds.

Please see the attached document

Except central banks can trade via the bank of international settlements, 24 hours a day, seven days a week.

Traders can still. Trade over. The weekend, Thompson/Reuters manage trades on behalf of FOREX during that period.

USD is not the national currency, end of.

There's a pinned document in the finance section called introduction to Thai income tax, perhaps someone will kindly link for this member.

NO! Tax resident, that means spending more than a cumulative 180 days per tax year in Thailand....tax year is the same as the calendar year.

It depends on when you obtained your pink card, the numbers on it changed from 10 digits to 13 digits at some point and that rendered the old cards invalid as tax ID's. Also, is the new 13 digit number, it must first be activated as a tax ID, it's not automatic.

I think the OP has a number of options, perhaps he will report back with his findings, in the interest of furthering everyone's education on this subject.

Rather than suffer with personal hurt feelings that at least one member doesn't think Patts is the English capital of Thailand, why not put up some stats and some facts to convince us that it is? TBH Patts used to be Brit heavy at one point this century but UK tourism is no longer anywhere near a dominant feature of Patts economy, neither visitor nor resident wise. And whilst you're at it, why not delve a little deeper into how the forex business anywhere in Thailand operates and what the risks are of forex booths holding foreign currency. It's been a long time since I wanted to buy currency in Thailand but the last time I did, I asked my bank for 2k Pounds and they said it would take a week to collect it from the branches, on order, because normally it went straight to head office and then to BOT.....that's the business model, sell baht for foreign currency and then dump the foreign currency on the central bank.

I'm not wondering anything, other than where the OP will find GBP, on demand, in anything other than small amounts.....some others think there are stacks of the stuff, just for the asking.

There are a number of factors involved. Under the IMFs Managed Floating Peg, BOT has the option to intervene or not, based on the country's economic need. But BOT also has to model the chances that any intervention will be successful or whether it will only be temporary and as a consequence, a waste of money in the longer term, in which case it may elect not to intervene and merely go with the flow. You mention a better rate last May or June, against which currency, GBP or USD? The value of THB against USD is fairly straight forward, the above managed peg notwithstanding. But even against USD, it is entirely possible to have different exchange rates at different times, despite the USD value being the same, based on BOT's decision to intervene or not. And of course, the value of THB against GBP uses three currencies to arrive at an effective exchange rate, this means USD may be stronger whilst GBP is weaker, the net of which could easily give a different rate, at a different time, despite USD value being lower/or stronger. And finally of course is the strength or weakness of the Thai economy and the view markets have of it going forward. If that changes when all other factors are equal, the exchange rate will once again be different from what it was earlier.

An interesting read: https://www.pattayamail.com/latestnews/news/fewer-british-tourists-and-expats-are-coming-to-thailand-458609