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Startmeup

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Everything posted by Startmeup

  1. It's a tricky topic. In regards to foreigners coming into Thailand, Many people relocate to Thailand because of the tax optimisation opportunities. If Thailand decided they want to tax these earnings many will just relocate to somewhere else where their dollar goes further and they are treated better. That or else set up a structure that allows them to do it anyway. There are many options close by such as Singapore, Philippines, Hong Kong, Malaysia etc. Many options in South America, Africa and Europe too depending on your situation. There is a long list of territorial tax countries. Does this mean they are not contributing to the Thai economy? Of course not. Id argue These types of people have a higher disposal income and are contributing much more to the economy than most of the retirees who are living off a state pension/disabilty pension from their home country. It also seems to me that the Thai government are becoming more interested in attracting higher income foreigners by the types of visas they have been offering the last couple of years so I think its safe enough that they won't be changing this rule anytime soon.
  2. This is something I have been curious about for a long time so really appreciate your sharing of information on this.
  3. That's interesting. Why the increase - Due to cost of living/inflation increases, competitions for workers or something else?
  4. Like I said in the post what Im hoping is to get first hand experience. I don't consider this anecdotal. My husband/wife/gf/friend is an X and earns X. I know from past searches of salaries in my own field online they are usually not accurate.
  5. On average, what are the salary ranges for Thai workers? From what I can tell Bangkok workers will earn more than any other locations given the cost of living here. Where do workers earn the second/third/fourth highest, must be between Pattaya and Phuket? How much does someone who works at reception in a hotel earn? How much does a real estate agent earn? How much does a department store worker earn? How much does a restaurant/bar waiting staff earn? How much does bank staff earn? How much does a local teacher earn? How much does a nurse/doctor/dentist earn? How much does a pharmacist/lawyer/accountant earn? I know this is not a clear question to answer as one accountant could earn 25k a month while another could earn 50k because of qualifications and experience. Ive done a google search but Im not sure I trust the results am more interesting to hear from first hand experience of people who know people in any given position to get a better grasp of the subject.
  6. Why Honda ADV as opposed to Honda PCX or Forza (is that Honda?)? I must check YouTube there is bound to be reviews of all these bikes on there somewhere. Im prob a little less than 80kg.
  7. Do foreigners have to buy outright or can it be paid by installments? Are the rates high or low? Do you need a Thai driving license to buy a bike?
  8. Did the revenue department ask you to get a residency certificate before they would give you a TIN? Which revenue department did you go to?
  9. They only asked about proof for one financial year not a number of years?
  10. I need to set up a new brokerage account now that I am claiming that I am a Thai resident for tax purposes. When I have the new brokerage account set up I will transfer my holdings from one account to the other. It's with IB and when setting up the new account they give a few options like you say for residency with one being not required or something along those lines. This was what I was going to tick. I have a bank book but I dont understand its purpose? I got it when I opened up my Bangkok Bank account but haven't looked at it since. Nothing in my bank book will show any withholding tax. Did you get your Tax ID on the spot? Im in Bangkok, I see there is a Revenue office in Phra Khanong or Khlong Toei District office, you think district would be better? Seen as the FY ended not long ago it might be a good time to ask.
  11. Some bullet point to see if I have interpreted correctly what you are saying. Please correct me if Im wrong and add anything Im missing. To be compliant; Deposit into Sing acc before Jan 1st and Remit to Thai acc after Jan 1st. The FY is Jan-Dec so the deposit into Sing account has to be before Jan and remittance to Thailand after Jan 1st. You can Make any amount of remittances to your Thai account from your Singapore account up to the value that was in the Sing account on Jan 1st but It's essential that Any deposit you make to your Sing bank account after Jan 1st is after you have remitted enough for the 12 months of living expenses to a Thai bank account for that year. If you deposit any money into the Singapore account during that FY year but dont remit anything else that year, you are compliant. It is immaterial to Thai revenue when you earned the money you deposited into your Singapore bank account as long as its in the account before January. Am I missing anything?
  12. What does a quote usually cover from a garage? Is it just the price of the bike itself and if so what other costs are involved if any?
  13. That's interesting and worrying and imo wrong what they told you. "Residents who derive income from abroad are taxable on that income if remitted into Thailand in the year in which it is received." https://taxsummaries.pwc.com/thailand/individual/taxes-on-personal-income A person (Thai or foreign) who resides in Thailand at one or more times for an aggregate period of 180 days or more in any tax (calendar) year will be regarded as a resident of Thailand for tax purposes. A resident of Thailand is liable for personal income tax on income from sources inside Thailand and on assessable income derived from sources outside Thailand. However, the imposition of tax on income derived outside Thailand will apply only to income derived and brought into Thailand in the same year in which such income is earned https://www.tilleke.com/wp-content/uploads/2011/05/Thailand-Tax-Guide.pdf If you dont remit the money to Thailand in that year, my interpretation of that would mean within 12 months of when it was earned, even if you had deposited it to your Singapore bank account how could it be taxable in Thailand, that doesn't add up? If you only transfer 100k to Thailand then why does it matter what goes to your Sing account, it was not remitted to Thailand and you are not liable for taxation in Thailand? Also, given you deal across various jurisdictions, it sounds like your tax residence is Thailand, this is my issues, I need to be able to prove residency here and having a Tax ID seems like the obvious way to do that? Of course a visa is the other option but even though I stay over 180 days here a year I dont have a long term visa yet. I could show passport stamps proving more than 180 days.
  14. Excuse my ignorance, why would you need a tax ID for bank withholding taxes? Is this something that can be claimed Is the Tax Id a one and done thing, doesn't need to be renewed in the future, its a unique lifetime number?
  15. When you dont have any particular income in the country what is the reason you use at revenue for asking for one?
  16. Less than 100k. PCX 160 and click 160, what's the difference?
  17. Bangkok. If getting a tax ID, will that have other implications? I dont intend on paying tax here, my situation doesn't means im not liable.
  18. I guess charging it might be an issue in a condo?
  19. What is the price for one of these? Any photos
  20. That's not a bad price. When will it be out? I think I want a bit more than 125i.
  21. Bangkok for the time being so just urban. For getting around, doing groceries etc with passenger from time to time. I like the look of having one of those boxes for storage on the back.
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