chiang mai

Your problem is not rate, it's availability of that sort of volume. I can pretty much guarantee the banks wont have that to hand but they will be able to collect it for you over time, ditto the money changers. Downstream of course there's also a Customs issues but I expect you know that.

According to some members, filing a null return is not wanted and makes you a stupid person. But if you want to get back the tax with held on your interest, I would certainly recommend filing anyway. The alternative is not to file, forgo the tax refund and not be stupid. All those in favour of being stupid, form an orderly line to left, anyone else can stand behind Jim. Technically however, obtaining a refund is not a null return, a better term might be a return that is below the threshold to pay tax.. Audits are either random or are generated by specific information, there is no time formula.

I think Thai rates weren't cut because doing so would mean even greater capital outflows and further decentivise capital inflows.

You appear to not understand what GDP is....it is the sum of ALL final goods and services that are sold, whether declared or not, visible to all or not. That means all the things you mentioned are already included. There are three ways to measure GDP and one of them is the value of all purchases. Thailand specifically does not use this method because the numbers are unreliable, the same thing you allude to. But id doe use the other two methods in tandem, for different parts of the economy. One is end value purchases and the other is what is produced. Between them they capture everything that is going on in the economy, even the grey market because purchases are measured.

I don't deny that is true and never have, they almost certainly do buy some currencies at different points. What I said, which everyone seems to have ignored, is not that Visa doesn't buy currency but that exports provides the vast majority of foreign currency for Thailand, substantially more than tourism ever could.

Nonsense! The Foreign Currency Reserves are ring fenced and not held in Thailand.

Visa international nets inbound and outbound currency transactions globally and styles using offsets via central banks. Little need for them to buy much currency at all when different customers on different countries do that for them.

I didn't say that none was purchased, only that the amount relative to that derived from exports is small.

Credit card companies such as Visa and Mastercard perform currency netting of the countries debits and credits via the central bank on a daily basis. That means they use inbound currency transactions to offset outbound currency transactions of similar currencies. Visa does not rush out and buy 7,000 baht, just to settle Fred's hotel bill!

You have to distinguish between Goods and Services in GDP, Tourism is Services, exported goods is not. So that 12% is not part of the 60% in the GDP model, it is separate.

Tourists typically book and pay using credit cards, many in advance from their home country. Visa/MasterCard settles their accounts with the supplier in local currency, not by remitting foreign currency for the supplier to exchange at the bank. Those who book packages pay the tour company in their home country, who in turn pay suppliers in local currency. Granted, backpackers and FITS will exchange currency in country

My guess is there are lots more than just two, unless you're referring only to the ones you have heard about. But if that's the way you derive your facts, whatever turns you on.

Funny! What is transfered or credited is THB, not foreign currency!

Currency manipulation doesn't have anything really to do with exchange rates, its's much more about trade. So if Thailand is a currency manipulator, according to the US Fed, so is Germany, Switzerland and Vietnam! https://www.cfr.org/article/tracking-currency-manipulation

Thailand earns very little by way of foreign currency as a result of international tourism, the vast majority of foreign currency reserves come from payments for exports. Exports are 60% of GDP, Tourism is only 12% and a lot of the vacation costs are paid for in their home country, typically flight and hotel costs.

Nope, she understands the potential exposure of foreigner if they don't obey the rules.

Huh! I think you're confused, not only about the law but also about my name! Yup, lots of people drive the speed limit and obey the laws of the land, why break the habit of a lifetime.

I'm certain that you will, others however may take the response as official approval to do nothing.

"the response she obtained from the local office of the Thai Revenue Department (TRD) was I did not need to file a tax return and hence not need a tax ID". That sort of response from TRD staff is dangerous, unless they already understand your tax position completely. It will not be any kind of defense in the future if TRD decides to investigate some aspect of your financial affairs, I personally would not accept that sort of dismissive atitude.

100% agreed, the article tries to make connections that aren't there plus the math is totally screwy.

Yes, my explanation was poor and incomplete, which is why I posted a link subsequently but too late to edit my earlier post. Apologies.

https://africa-container-shipping.com/en/some-reasons-behind-worldwide-container-shortage/#:~:text=Labour manpower in ports%2C trucking,less cargo to be shipped.

I was an owner at Floral for many years and I rate it highly. The location and the management were extremely good. Khun Nok was always very serious about her job and keeping the place in good order, it will be a massive loss if she is no longer there although as of last month she was.

Excellent point. During Covid, manufacturers were using shipping containers to store their product quay side, because it was cheaper to store it there than in warehouses. That led to a massive increase in container and shipping costs, as well as a shortage of supply.

It's the nickname for the Asian Crash on 1997