nigelforbes

This is the Private Consumption Indicator (PCI) index, compiled by BOT. It shows the value of items purchased by the public under 6 different headings, by month, for the entire year. It is regarded as a key economic indicator that shows the direction of the Thai economy although it is only one of the pieces of the jigsaw so don't rely on it exclusively. If you want to understand how well the Thai economy is doing every month, this is a good report to reference. https://www.bot.or.th/App/BTWS_STAT/statistics/BOTWEBSTAT.aspx?reportID=827&language=ENG

I don't think you and I can discuss this subject any longer ikke because you seem to have this remarkable ability to read things that aren't there! This will be my last post directed solely towards you. My role here is to explain fact to whoever wants to read it, not to express my opinion. You have zero idea what my opinion and beliefs are on the Thai economy, I haven't told you because nobody's interested, quite rightly too. You on the other hand seem far less interested in understanding the facts in order to form an opinion, instead your starting point, like so many other people, is making the facts fit your opinion....hence your reluctance to open links to obtain new information. Strangely, you also keen to challenge my opinion and argue with me, despite me not saying what my opinion is! I've explained all the facts to you and I've given you links to other sources of information so that you can learn more, what you do with them is up to you. Goodbye.

What happens to the value of the BAHT and the Thai economy in 2023 depends mostly on what happens to the economies of their trading partners. Over 85% of export shipments are manufactured goods and many of the buying countries are forecasting recession this year. Asia, however, is one of the bright spots on the forecast radar, the World Bank report on global growth was published last month and is linked below, it shows their estimates for growth, this year and next. https://www.worldbank.org/en/news/press-release/2023/01/10/global-economic-prospects These are the products Thailand exports and their corresponding value in 2021: - Machinery including computers: US$44.7 billion (16.8% of total exports) - Electrical machinery, equipment: $40 billion (15%) - Vehicles: $31.7 billion (11.9%) - Rubber, rubber articles: $19.7 billion (7.4%) - Plastics, plastic articles: $15.5 billion (5.8%) - Gems, precious metals: $9.9 billion (3.7%) - Mineral fuels including oil: $9.6 billion (3.6%) - Fruits, nuts: $6.2 billion (2.3%) - Meat/seafood preparations: $6 billion (2.2%) - Organic chemicals: $5.6 billion (2.1%) BUT not all exports are created equally, some are more valuable than others because some generate trade surpluses as a result, others produce deficits but still remain valuable. The most valuable export for the country is, "Vehicles: US$21.5 billion (Up by 47.9% since 2020)", the second most valuable is, "Rubber, rubber articles: $16.4 billion (Up by 26.0%)". The following are the main exporting companies in Thailand: - PTT Global Chemical (diversified chemicals) - PTT PCL (energy) - Siam Cement (specialized chemicals) - Thai Beverage (beverages) - Thai Oil (oil, gas) - Total Access Communication (telecommunications) Notice that so far, rice has not been mentioned yet many people think that's Thailand's main export! If you want to understand more about this detail on exports, the following link explains it all: https://www.worldstopexports.com/thailands-top-10-exports/

I have a UOB account and after 10 years with them I've now opened an account with Bangkok Bank. UOB Thailand is not part of the rest of UOB, it is UOB Thai and it's not the same. UOB Thai will not interreact in any way with any American financial institution, you will not be able to pay money into or cash a cheque from any American bank, not even the government or Federal Reserve. Standard expat needs such as statements and letters for immigration have always been a problem, they don't have a standard offering so everything has to be explained new every year. They are fine as far as day to day banking is concerned, put money in, hold it, take money out. One year I had to sit with the girl and do my statement of tax paid on savings with her, it became a joint effort because she had no idea. As always it's a staff training issue, their good staff get promoted and sent elsewhere, the rest get left in branches to deal with you and me, good staff disappear after twelve months. I'm far happier with Bangkok Bank, they send me an SMS every time I transact on my account so security is very high.

WEll unless you can quote me, we wont be having any more! Regardless, that is not something I would say so I think we're done here.

Because I have income that arises in the UK, Pension and rental income.

I didn't say that a strong THB is good for the economy, where did I say that? What I said is that the ideal exchange rate for USD/THB is in the range 31/34, ideally 32/33, which is neither strong nor weak.

Being a NRL is not the same as being not UK resident for tax purposes. As you will know, the NRL scheme only allows you to receive rental income free of tax in the expectation you will settle your taxes via a return at year end. If you are not UK resident for tax purposes, that scheme can continue but when you file your UK return, you will exclude any income that doesn't arise in the UK. Your Thai income is then subject to Thai tax rules and is ring fenced, it means you can take advantage of the Thai Revenue tax free or zero rated band.

Can you declare yourself not UK resident for tax purposes, that way you can exclude Thai earnings, and take advantage of the UK tax free allowance? This is what I've done and there isn't an issue.

Yes, many people do. There is a tax treaty between the two countries so you wont be taxed twice. I live in Thailand and may tax here on income but also file a UK return and pay tax on investments and property rental.

White!

I know from our past discussions that you don't like to click on links to read associated and supportive detail but in the case you really have to. There are three criteria against which currency manipulation is measured, foreign currency intervention is just one of the three. Despite Germany being part of the EU, the countries that import from Germany agree their contracts with Germany, not the EU. One third of the way down the page in the link below is a chart, click on the link and see a list of all the countries involved in so called currency manipulation, against the three criteria. What are the other two criteria? Click on the link and find out! https://www.cfr.org/article/tracking-currency-manipulation

Um, that's my thread you just posted, but thanks anyway.

I'm talking about Thai taxes also, I used an example of me where I receive income in Thailand from both US SSc and also UK State Pension. When I file my Thai tax return, my US SSc income is exempt from the calculation by Treaty, my UK State Pension is not exempt and must be included in the calculation of tax due. The word exempt has an every day meaning but in the tax world it has a specific meaning which is, not to be included. If the US SSc income was included in the tax calculation, that would mean it would be zero rated because it would form part of the first 150,K. BUT, it would also mean that anything that sits on top of it, my UK State Pension for example, would extend upwards into a higher tax band. That is why the distinction between exempt and zero rated band is a very very important one, even if it does appear to you to be pedantic.

I still buy health insurance, I stopped self insuring when visa's extensions began to be threatened if we didn't have it.

Because the price of oil remains higher than its long term average which I think is USD 60, today it's over USD 80. I'm not sure if consumers are yet paying some money back into the Fund but I doubt it.

I used to feel the same way years ago but today it's very different. Years ago I bought over a few million and let it earn interest here, by the time I was ready to do something with it I realized the exchange rate had moved considerably and I'd made a lot of money, about 35%. I'd also bought a new CRV which by the time I'd sold it, the exchange rate difference means it almost paid for itself. Today I keep 80% of my cash assets in Thailand and I sleep very well.

It isn't because there are earnings that genuinely are exempt, US Social Security payments for example, they are not even factored into the calculation of taxes. On the otherhood, other income such as UK state pension for example is factored in and assessed for taxes liabilities but if the amount is under 150k it falls in the zero rated band and is not taxed. Exempt means not even part of the tax calculation, zero rated means it is taxed at zero percent, there is an important difference.

And their UK offices in London are in a rent an office space building. https://www.google.com/search?q=wrlife+UK&rlz=1C1UEAD_enTH996TH996&oq=wrlife+UK&aqs=chrome..69i57j69i60.2701j0j15&sourceid=chrome&ie=UTF-8#lpg=cid:CgIgARICCAI%3D,ik:CAISFnNlY3JNbWNPNndQc2pNZjV0NFBWbnc

And interest and investment income too?

Below 150k is the zero rated band, not exempt.

Not that far, I'm trying to be diplomatic.

You don't have to consider USD but the exchange rate has to, it's only by considering USD/THB that the FOREX can arrive at GBP/THB, without USD there is no Pound Baht exchange rate. Anyway, good for you, message me when the coin drops, after you've read that thread.

Sorry but you don't get it, yet! I go through this loop several times a week with different posters, eventually they get it. Best I can tell you is to read that thread and the calculations others have made and you'll get it too. And if you don't get it, oh well, it's no skin off my nose.

You don't see it but that's how the FOREX calculates EUR/THB, what can I say, that's how the FOREX system is designed.