lordgrinz

Yeah, but will anyone in Thai RD accept the records? Do they need to be stamped by your embassy, then translated to Thai, and then stamped by MFA before anyone accepts it? And with the US Embassy, they won't stamp any financial documents from the USA, so then what? Like I said, we really need some definitive answers from the Thai RD.

Well, until they state what is acceptable proof of savings, it would be better not to send anything. I don't believe in the, just ignore it until they come looking approach.

The only way you avoid taxes is death, and even then they tax you, no such thing as "just lay low" when the taxman cometh.

What do they want to see as acceptable proof of funds being savings only? Do we still need to file a tax return for remittance of these non-assessable funds (savings) we've sent? I would hate to just ignore filing a tax return, then one day have RD question millions of baht being sent into the country, then have them not accept whatever proof I feel is acceptable, but they don't.

This is the part I want to have concrete verification from the RD on before I remit anything more, that it is indeed non-assessable income, and there is no need to file a return showing it (the remittance). Until that happens, I am living off what I sent before January 1st 2024, and no more money will be sent until I am sure this is settled.

Until the poor people who benefit most from our bringing money here realize their gravy train has ended, then they hang the current administration from trees.

I hope this Director General of the Revenue Department was authorized to let this info out, because she could soon become a sacrificial lamb when the proverbial you know what hits the fan. No good will come from her announcement, and it will more than likely cause a mass exodus of capital, exactly what Thailand doesn't need right now.

Party is over, say goodbye to capital inflows, dead on arrival!

So Buddhist are sheep, good to know.

Yup, I forecast a worse 4th quarter.......betting against the Thai PM, odds are in my favor.

I actually can't remember if I gave mine to SCB in 2016, or not, but I do declare through an FBAR the account here in Thailand.

I know the current US Administration would like to tax unrealized gains on stocks, etc......which is why I asked about 401K's and IRA's as they fluctuate in value as they grow, not just contributions. So I wasn't sure how this would apply in Thailand, do they consider it income this year if my IRA doubles in value this year? That could be a huge issue.

Arguably more actually, I am sure I have paid more in taxes already then 90 percent of Thai's have ever paid in their whole lives.

Since most Thai's pay no income tax, that argument falls flat.

That's what has bugged me about the whole thing, the remittance part seems so odd, and highly unmanageable....which is why this new news from the RD makes more sense, taxing Worldwide income would be at least, normal.

Not on your life, rich Thai's will just move themselves offshore too, thus negating any dividends from them.

Is there anything in the laws, as they are now, that would make 401K's and IRA's open game for taxes if they aren't cashed out? They are the moment tax deferred until they are withdrawn, not sure if that applies in Thailand.

Tax everything, that'll magically fix all the problems, not.

Loved Kauai, would love to return and go hiking, eating, reading, swimming, surfing, etc.....but yes, it would include some Corona's and limes too 😉

I would be heading for Kauai to a beachside mini-mansion, with my own private beach, never to step foot in another city ever again.

It means when she is threatening somebody about taxing them, they should take serious notice.

So, its a guessing game?

John Smith .....for example, what? Maybe half a million of them in the US, good luck.

But how do they match it up to any particular individual? Like I said, without a US social security number they would be hard-pressed to match me to anything.

How exactly? Without a USA social security number how would they know anything? My accounts are listed to my home address in the USA, not to Thailand.