
Marco51
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More details on Thai taxation of overseas income
Marco51 replied to webfact's topic in Thailand News
It's as vague as before and addresses nothing. The main questions remain : - what is considered income ? As the word says in coming money even when in possession long ago or money earned? What about inheritance or monetary gifts ? Example Germany does not tax anything below 40000 Euros = appr. 1.5 Million THB as gift or 400k Euro = 15 Million inheritance. - is receiving money from a savings account abroad considered income ? After all in almost all cases this has been saved from already taxed income. And interest on savings accounts abroad has already also been taxed with anything from 10 % up to countries like Germany even 26.5%. - are pensions for people retiring here taxed ? Again after all in most countries abroad these are monies that have been both taxed and saved in some government scheme many years or decades earlier. If so , starting from what amount? Again after all this includes in most EU countries free healthcare. So as this does not include healthcare here and , example myself, pay 100.000 THB for health insurance p.a. what do I expect? - if I hold savings from my working here in Thailand in a Thai account that pays a fantastic interest of around 0.75% and I am not so happy about that and take said savings to , example, New Zealand, where I receive 4.5% interest which is taxed in New Zealand with 10% already.....do I have to tax this again in Thailand if I bring it back and do I have to tax my own savings from said account if I bring it back to Thailand where it started out from? - if I inherit money in a country that has either no tax on it or it has been taxed already, is this then considered taxable income again in Thailand? - How and where is all this implemented : at the bank on receiving the funds or via the yearly tax declaration? - Who works these tax declarations and for foreigners will there be an at least English language explanation and form sheet or do we have to employ tax lawyers and accountants as retirees and translation services at high extra costs? - does in future every retiree have to file a tax declaration, no matter what? - will for people with year visas their compulsory amounts of400k resp. 800k THB in a local bank account be considered taxable ? - will deductibles take into account that foreigners are expected to a more expensive lifestyle so their compulsory retirement reserve is 800thousand, and then the foreign style cost of living should be appropriate amounts . Or will suddenly be expected 800thousand to be a kind of license to exist here and foreigners expected to live off 25000 Baht p.m. which are then deductible? It would be very much appreciated if these questions could be addressed , preferably in a language a non tax lawyer understands. And no, I am not holding my breath, I had put up these questions before and received no reply. -
Thailand Wrestles with the Ripple Effects of Cannabis Decriminalisation
Marco51 replied to webfact's topic in Thailand News
Not if at the same time the consumption of Chang and Singha deteriorates .....and the pressure of their equally "conservative, unelected" contemporaries next door in Cambodia, Laos, Malaysia, Indonesia, Burma, etc. are up the trees raving against it as their youth are rather quietly demanding same. After all this government is all about business first at whatever cost. And actually regulating and detailing a new law is un-Thai, that would mean committing and not leaving things to interpretation, so even the plod are loosing out. So no, it isn't that simple......................yes, could be. -
This would be the first government and bunch of politicians that are actually interested in who they so frequently quote "the people of this country (put in country of your choice)....". Politicians live on a different planet than the rest of "the people" , have their own interest at heart and mind and even if they waste a rare thought on the wellbeing of "the people...." they almost always get it wrong. When you and I say we have no money, we mean we have no money. When they say that , they simply forgot to go to the ATM which has been filled by "the people". Taxes are neccessary, also for the peoples' public service if there is any that deserves the name, but the major tax revenue of almost all governments is not from the corporates and superrich but from "the people" who work their arses off , the middle class and small businesses who cannot dodge and in case some politician decides to hand out an election promise is always first of all gathered again right there. Often called equalisation, meaning they will shave everybody except themselves and their buddies the same way. So remember : public service is paid by the majority and belongs to them, the rich do not contribute or if, then disproportionately, neither do the corporates, part of their job description is "avoid taxes at any cost, create more shareholder value". This not even calculating that a majority of revenue is thrown out the window, gets into pockets that have not raised a finger to earn it or or or......rarely into public services except a blown out of proportion bureaucratic apparatus. Anyone ever watched "Yes, Minister" on BBC years ago? This is not a Thai invention, ladies and gentlemen, they are sofar not even good at it. To make it short, find out details (which they themselves have not thought through yet, I am sure) , find out which part -not which rumour- really concerns you, definitely find out how this will be implemented (via your yearly tax declaration if you file one) or deducted directly by your local bank as is the 10% on the massive interest on your savings accounts. If they actually do tax pensions and deduct : RUN FAST! I wonder if they also want a share in the 400- or 800thousand in accounts for visas or are Thai savings accounts exempt? After all they do not gather interest . And last not least : yes , very much so : this is not in the first place targeting us Farang who have been living here for decades, employing people, paying taxes and envelopes , spending all their income here on sometimes things we would have for free "at home" e.g. education of our kids, but this is aimed at everybody , at least the less cash endowed and the hard working who have a few bucks stashed away abroad although officially it looks as if it targets rich people with income from real estate, companies, accounts abroad. Poppycock, if you have tons of printed paper you can put it in places and call it foundations or other fantastic names and become a cash card carrier with no limit or even have everything run via the company here. The guys with the glue on their seats will see to it your interest is the interest of "the people" .
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as the old Thai proverb goes "guilty until the envelope is filled"
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Thai health minister backs cannabis ban, citing surge in teen usage
Marco51 replied to webfact's topic in Thailand News
T I T......do first, think later, boast big time, blame everybody else.........no problem, can drive......ooops , that was the accelerator and the reverse gear? Who would have thought . That was the manual I threw out yesterday? What could have been one of the most progressive ideas despite the initiator now falls on your feet for starting to build the house starting with the roof . 180 degrees turn. 5555555555...................or could there be some brewery and destillery whispers in the background ? On y soit qui mal y pense or some such. -
Phumtham welcomes convicted former PM Thaksin as PM’s chief advisor
Marco51 replied to snoop1130's topic in Thailand News
Quite! Thaksin flew with his jet (as long as the poor old man was not so sick yet) to a birthday bash with his good dictator buddy Hun Sen and family owned Cambodia and seeing that, probably gave him the idea again of reintroducing the old Shinawatra "dear leadership". What's next ? Does he still have his little stop sign to show to journalists when he considers enough annoying free speech? Or has he already handed that over to the unelected Prime Suspect, you know the one whose constant glued on grin makes one believe he likes people more than real estate? It will cost the Thais dearly although his propaganda will do the OTOP-job again .....thousands of basket weaving villages. A very sinister thinking person could actually believe this whole election carnival was a plot between the uniformed "..." and the money to definitely exclude anyone who really gets elected to change things. Aaah, what fun. Feels like ancient Rome, the patricians take it all. -
Thai Police dismantles 4 Hubs of Escort Websites Serving Foreigners
Marco51 replied to webfact's topic in Bangkok News
Apart from this being one of the most wide spread activity in Thailand or how does one explain the amount of curtain hotels (in my residential neighbourhood inside ca. 3km I guess 10plus) that very few farang have ever heard of, the "number" bars and "restaurants at the sides of highways and country roads, the no hands karaoke and restaurants, etc etc etc....All of these appear to be quite lucrative and frequented. God forbid, a more sophisticated escort service would pop up , shame the hep2three4 cucumber troop and not pay taxes on fun and games...............make the blxxdy <deleted> legal, cut out the middle men, welcome to the 21st century. -
Thai Police dismantles 4 Hubs of Escort Websites Serving Foreigners
Marco51 replied to webfact's topic in Bangkok News
ever heard of little (or larger) brown envelopes? -
Weighing passengers to become standard for Bangkok Airways
Marco51 replied to webfact's topic in Thailand News
The aim is to cram even more seats into cattle class and leave more room for 1st with shower and bed......, after all who needs to have more than his arse width to sit for 12 hours or more. And of course to charge overweight passengers up to double the ticket price. If you have ever sat next to an obese person in these "modern" slimmed planes in cattle class you know what I mean and there is a certain sense in that. Nevertheless the outcry will be enormous and die down as all outcries do. In the end it will "only" concern a minority and who "gives a shxx" anyway, thinking is overrated.............By the way: define fascism, just for yourself. Where does it start, where does it end? Who and what creates the periphery? As Marie Antoinette is supposed to have said : if they don't have bread, let them eat cake for heaven's sake.........a short while later........well...... -
Thai PM says he opposes the recreational use of cannabis
Marco51 replied to webfact's topic in Thailand News
......more brown envelopes. Have to make up for some from Kamnans , which will be lost............... -
Silent film chaos: Man attacks transwomen at mall theater for shushing
Marco51 replied to webfact's topic in Pattaya News
"Please someone help these people find out who they are, they seem to have lost their mind. Anyone know them? " -
Thaksin's Family Refutes Fake News; Misleading Post Sparks Outrage
Marco51 replied to webfact's topic in Thailand News
be careful, just mentioning someone rich with a good lawyer in Thailand can become very expensive, especially when true . We must all believe we do not know where he is and do not care as he has become strictly neutral and apolitical, a nice and simple grandfather, very very sick too, likely from all that 5star life in Whatthe<deleted>istan, really does it to one's heart and blood pressure.......the constant CousCous, the private planing around, the regular visits from friends and clients, what a stress. So, shut up, otherwise he will hold up the little Stop sign again, and then my friend.......don't say you were not warned.......... -
Impunity for the rich and powerful undermines Thailand’s democracy
Marco51 replied to webfact's topic in Thailand News
Cambodia, Hungary ....etc. If 1 or so people own the place who needs laws except for the riffraff? -
‘Russian-only’ businesses in Thailand’s Phuket spark backlash
Marco51 replied to webfact's topic in Phuket News
make that 30 plus. 20 years ago the red songtau mafia already extorted 100 Baht from tourists where 10 Baht would be the real fare. -
Now quickly quickly get the guy to China before he may consider going to one of these decadent western places that will now all scramble to recognise full fledged democracy in Thailand, promise gigantic credits and megaprojects (more dams on the Mekhong, Highspeed rail links from Bangkok to Nakhon Nowhere ,Nuclear powerplants in Phuket and Samut Prakhan, more submarines, an aircraft carrier on loan, permission to build skyscrapers in Peking, etc etc etc) great to justify work permits for as many chinese "workers" and goverment triads, sorry: companies as possible , guaranteed by land, port and maybe airport licences (see Sri Lanka), make quick deal to extradite any Uighurs, Tibetans , Hongkongers and Taiwanese stuck in Thailand, so they can be happily reeducated.
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Thaksin: Former Thai PM's prison sentence reduced to a year
Marco51 replied to Social Media's topic in Thailand News
Next stop : rewrite the constitution so it remains the same with more very flexible wording. Then after long and tedious negotiations the Jurassic Park will be kept as it is, for the sake of the peoples' welfare and after advice from the CCP ambassador. Dying out pieces should be replaced by newly discovered dinosaurs with the proven disability to say yes . Quietly Chalerm Y. will announce his return because statute of limitations and bureaucratic errors have been found under a carpet. Meanwhile MF has been investigated thoroughly and found illegal, all participants that have not yet joined one of the "established" parties will be banned from politics. Eventually K.Srettha will make a wrong remark and a new uncle will ...................etc. ad nauseam. If the teacher says the sky is black , then the sky is black, everybody repeat. Happy end. Puccini could not have got a better libretto, they should be allowed to perform at Verona. Music by Muay Thai. Bring bananas......... -
More Mysterious Debris Washes Ashore in South Thailand
Marco51 replied to webfact's topic in Southern Thailand News
Had the navy received it's Chinese submarine already ? -
The days of military coups in Thailand are gone : Sutin
Marco51 replied to snoop1130's topic in Thailand News
55555555555555555555...................there are more ways to skin a cat.................... -
PM to look into extending tourist visas to 90 days
Marco51 replied to webfact's topic in Thailand News
mate, the maoists are already exempt from the plan.....and a plan only it is too. I agree to the bloke above: very few tourists need 90 days and those who do will get a visa at the embassy. I was talking however about those of us who are here long term but still have to report on bail every 90 days and cannot drive to neighbouring provinces overnight for a round of golf without reporting back to wherever we came from (TM30). Otherwise 800 Baht for AWAL. Pure anachronism but.....jurassic park. -
PM to look into extending tourist visas to 90 days
Marco51 replied to webfact's topic in Thailand News
Quite possibly he could have a quick glance at "90 days" and especially TM30 . At least for people who have a work permit and/or a longer term visa for retirement, Thai family or simply have been here many many years paying taxes, employing people, spending ALL their income here and and and....Apart from national security not being strengthened by more paper it does at times make one feel like a potential criminal that must be monitored closely. I can see what a poor migrant bugger feels like in Europe . It might even free many buildings where all the copies and copies of copies are kept. -
Social Media “Outraged” Over Erotic Show in Pattaya
Marco51 replied to webfact's topic in Pattaya News
ooooh, what will the maoist ambassador think....and the wealthy "families' that come to Pattaya of course......People, how hypocritical can you get? 30 odd years ago there were plenty of shows that "put up" the act , in Patpong and even in sleepy Chiang Mai which was more of a hilltribe village then. And my applause to the actors that managed to keep up the act in front of all the drinkers, hooters and cat whistlers. My then wife and I enjoyed it very much as many foreign and Thai couples did. And oooh! Pole dancing did not involve Bikini tops by law. I suppose that whoever did not like it did not stay or looked the other way. I never heard anyone mouthing it off re. un-Thai, pornographic, disgusting......they simply ignored it. Fair enough. Then again Thailand was an atmospherically much freer country strangely enough 30 years ago, as was Europe by the way, there was no social media for the ever growing permanent complainers and opinionated and frustrated crew and the regular military coups to show the country the right way were more politically and pecuniarily concerned than telling ordinary people what to see, do, wear or think. And yes, Thermae still existed. Aaaah! Nostalgia.