chiang mai

It's Chem Trails, sheesh!

If you want to know what's happening with the Baht against USD, you need to watch the US Dollar Index which reflects USD strength, when it moves, the exchange rate agai9nst USD moves also. https://www.marketwatch.com/investing/index/dxy

Plus I don't think any list supplied by the banks, must be all inclusive of everyone and all accounts, it just needs to contain certain classes, types or categories of account..

TRD to Foreigner: Sorry to trouble you but we see from looking at our banks and merchants data that you've been making frequent credit card payment transactions in Thailand, using a credit card from a foreign bank and the amounts are not small. We checked with Immi and it seems you were tax resident in Thailand during the year and have been so for several years. Since a credit card transaction of that nature represents potentially assessable income in Thailand, we wonder if you should have filed a Thai tax return but overlooked it, can you please clarify? Foreigner to TRD: All good here, overseas money was pre 12/31/12 savings so not assessable here. TRD to Foreigner: Cool, would you mind coming into our offices next week to meet with us and bringing the relevant statements/paperwork with you so we can confirm your assessment is accurate? Thanks, see you Wednesday at 10am.

I believe Thai Banks are required to send details of all inbound deposits to the BOT daily, in order for them to fulfil their role in managing the currency against foreign currencies and to manage Baht strength. I also believe that they may send details of the recipient since I had a call from BOT regarding an inbound remittance, in the mid 2000's when they wanted to know the purpose of the funds and my plans....6.5 mill to buy a condo in 2007.

Anyone taking issue with the contents of the two videos I posted earlier and the information contained in them, should address their concerns to Price Waterhouse Coopers and Siam Legal and not to me, I'm just the messenger and I don't want hear them.

Bangkok Bangkok opens this morning with USD/THB at 3.31. an improvement on Fridays 32.86, I hope it holds for you.

Source of your quote, please? What is quoted is, in practical terms largely true but technically and legally is not. The quote is also a generalisation which doesn't apply to everyone. "Foreigners earning state pensions are mostly under under the tax threshold", is simply not true. Plus there is no rule that says a taxpayer can apply their own TEDA and if no tax is due, decide not to file. That may or may not be a s sensible thing to do that deploys some logic but it is no the law and it's not what SIAM Legal has said in a video posted last night, in the tax thread. Also, a person is automatically tax resident after 180 days so saying that a person has no need to be serious about it, is totally meaningless.

I went through Listers posts dated that day and couldn't see anything pertinent plus my mind reading abilities are not up to scratch this morning, perhaps after coffee they'll improve!.

No idea what you're talking about so I can't respond as to whether you are right or not. And you seem unwilling to explain, so what more can be said!

I will probably do the same but wont pay tax, it just keeps the i's dotted and the t's crossed and avoids potential downstream issues. I mean, it's only 15 minutes of my life, I waste longer than that, trying to decide what I'm going to do that day!

A sad indictment that exposes the realities and priorities of life and the people here.

Can be mistaken for angina but is actually caused by GERD, another reason to get checked out.

What works is a visit to a cardiologist to determine the cause, you don't self medicate for angina, otherwise you die.

which piece or thing are you referring to?

You're right, not the best choice of words on my part. Well known, significant, farang friendly, prominent, well regarded take your pick. But it doesn't change the fact that it's a well regarded law firm, so if we're going to pay attention to what the other say, we need to pay attention to this one also. https://www.legal500.com/firms/34053-siam-legal-international/c-thailand/about

Take this in the context of the future and what is being asked for. In this case, Negative Income Tax, as requested by the Finance Permanent Secretary. What is negative income tax? A system where anyone earning under the income (not tax) threshold is paid support by government, based on their earnings. It's not welfare, it's work related, the further you are away from an optimal income, the more the government pays you. In order for the system to work, everyone must report all their earnings, above the tax reporting threshold, otherwise they can't participate. This supports the desire to have anyone earning, even if there is no tax to pay. The same system is being explored in many countries as a way to eradicate poverty and to increase the tax take. https://www.itax.in.th/media/negative-income-tax/ https://www.bangkokpost.com/business/general/2861888/official-backs-negative-income-tax-concept#:~:text=Finance permanent secretary Lavaron Sangsnit,falls below a specified threshold.

I saw that but was waiting for somebody else to mention it so thanks. The big one for me is the part about who must file and when. For the first time we have a major Thai law firm telling us that foreigners must file, not just everyone but foreigners specifically must file, when the assessable income thresholds are breached. NO mention is made of using common sense to see if tax is due and if not, making your own arbitrary decision not to file; NO mention is made of self assessing whether your TEDA levels means that you shouldn't file, if you TEDA means no tax is due. It's black and white and it's a law firm telling us, foreigners must file if they have over 60/120k of assessable income. Do I like it? Not much! But I'm happier that SIAM Legal interprets the tax rules the same way that I do and that we no longer have to rely on an unwritten rule that is supported only by a couple of farangs on AN. The other point worth mentioning is in the PWC video where they talk about the TRD using AI to determine which customer records should be audited etc etc. Take it with as many grains of salt as you wish but that's certainly the direction we're headed. The idea that TRD is several hundred people sat behind several hundred thousand grey metal desks, surrounded by mountains of paper tax returns, is not even remotely where we are.

Not especially informative but a couple of tidbits in there that may give some clues. And a second one that I've not seen before, from Siam Legal dated a month ago, a few interesting points in there, not least of which being when foreigners need to file a tax return. The relevant slide starts, "A Foreigner shall file a tax return if: Bear in mind, this is from Siam Legal.

Exchange rate reporting management passes to Thompson Reuters on Friday night and volumes are very small over the weekend, on Monday morning management passes back to the FOREX when normal volumes resume. The Dollar Index surged on Friday to 102.5, which should see a stronger USD at the open but Thailand opens before the US so the effect may not be felt. The Middle East and the oil price are the current drivers. .

Inner peace, the meaning of life, the winning lottery numbers.....am I close?

Why go? How else are members supposed to get the true story about the current state of the Thai economy, Baht exchange rates and the future of the economy. :)))

I guess you're converting baht to Pounds and vise versa in order to make that comparison but on a PPP basis those products are far cheaper here. It will also depend where in Thailand you buy those things. If you buy at Tops in Bangkok that's one thing. But if you buy at a local market where food is fresh and grown nearby, the price will be vastly different,

Cent Fest should still be accessible from a number of directions, particularly from the East and North.

For the benefit of those aged 50+. I did a lot of my tax planning over twenty years ago, just before I moved to Thailand and whilst I was still earning income from work. Looking back, three of the things I got right were firstly, to bring over a large amount of money and invest in THB when exchange and interest rates were much better. Funds I exchanged at 70+ baht per Pound have now nearly doubled in value so this was an excellent move, if you can overcome your fear of Thai banks etc. If anyone wanted to trawl back through my mid year 2000 posts you can see where I proposed this as a good idea, whilst most other members were horrified or laughing and thought I was nuts! I remain Baht positive for the medium and longer term so this is still a viable proportion, I think. The tax aspect here is that it put my savings outside the UK where I was no longer tax resident. The second thing I got right was to buy our home and not rent accomodation, that's a strategy that has more than paid for itself already, even if I lose everything tomorrow. But to do this, you need to overcome your fear of the property market and ownership here. This move freed up income to divert to number three below. It also put the house into my wife's name , which helps with UK Inheritance Tax. The third thing is that I funded my wifes business, which has produced a very healthy tax efficient revenue stream that will continue long after I am gone. This has meant I have not had to fund my wife or her family expenses for over a decade and that I can focus on other things. Once again, to do this you need to overcome some fears. From a tax perspective, my wife and I have separate financial affairs which means she can earn the same income as me every year and also not pay tax. The last thing was that I used my UK SIPP for my investments, in previous year I have opened two more. This has meant I have been able to grow significant amounts that remain tax free (currently) and are very tax efficient. Since I don't drawdown those SIPP's, my exposure to IHT is minimised. Eventually those funds will be transferred to my wife under inheritance tax rules which are also tax efficient. The common theme here is to a) overcome your fear of incorporating Thailand into your financial planning and not remain financially isolated overseas, and b) act early with a view to the longer term and what your future position will be in 10, 15 or 20 years hence.