lordgrinz

So, basically it's "last in, first out".

Yes, but why deal with taxes in two different countries? Just move back home and deal with taxes in your home country, less hassle. Plus, I know my wife does her taxes before I do mine in the US, how exactly are we going to time this tax obligation in two countries?

I will have at least a year or two more to worry about it, I won't be sending anything here this year, we'll see what tax nightmares await other filers before I send money again.

So we wait until its humid and hotter than hell to go outside, sounds like a great plan.

What it will do, is make a good portion of expats leave to live elsewhere. Hopefully they make enough off taxes on Thai HI-SO's hiding money abroad, as they won't be ablet to leave so easily.

Setup a new agency that has a big budget to plunder, and say they will do something, but actually do nothing. How very Thai of them, however, there should be plenty of higher ups ready to step up to the trough.

If that is true, then there is almost no way to quantify or keep track of "first in last out", so the logical assumption would be they would have to handle savings accounts as "last in first out". The only other option would be to abandon the remitted money only approach and go with a tax on all worldwide income, regardless if it is remitted or not.

That's pretty much what I asked above, not sure how they are going to do this. Either they have to abandon the remitted only approach and tax all income made worldwide, or create an almost impossible way to handle this scenario. Like you you hinted though, they could just consider taxing all our remittance as last in first out.

I assume he is still addicted to the trough, sickening.

Well they could make porn legal, and condoms illegal, and keep bars open 24/7. It will work like magic!

Yes, but how do you prove money sent here from a large savings account that would have mixed in profit from equities/interest/etc. was taxed? Say I have $100,000 in a saving account, and move money from profit of $5000 into the account, then I remit $20,000 to Thailand.......how do you handle tax on mixed money in a savings account?

This is the part that gets a little screwy, is it just on remitted money, and if its much smaller than the senders worldwide income, how do they decide if this smaller amount remitted was taxed?

So during the Pandemic I lost my Digital Nomad job, so living off savings (which can go for quite awhile until SS kicks in), and have money in a brokerage account and IRA in InteractiveBrokers in the US. My wife already has me on her taxes at the end of the years, which uses my Pink ID number as my TIN. My question would be, how are the following handled? 1) Just sending over savings that has been in the US for several years. 2) Selling stock purchased in the US, where profit would just go into savings in the US and not be sent here for a while, or maybe never. 3) Obviously there is quite a bit of interest on savings and brokerage accounts in the US, is that income that needs to be shown here, even though the money isn't coming here? At least not for several years? 4) Do I continue to have my wife just do the taxes as married filing jointly here, or is this new tax scheme forcing us into doing tax separately now?

I'd be more worried about travelling underneath it.

If you saw what passes for a road test here, it would be very apparent why.

Couldn't disagree with you more.

Come to Muang Thong Thani area, its like living in a 3rd world country around here. You haven't seen really bad drivers until you come to this cesspool.

Yup, I have conversation with the wife about these issues a lot. She does agree with me, but knows Thai's won't change, ever. I asked her why road rules and laws that were signed and approved by their King (one so loved by Thai's), are totally ignored? Its like they want to pretend they are Buddhist, but not actually be a Buddhist, and since when did Buddha insinuate one could buy a better life in the future? I can't take Thai Buddhism seriously, it appears to be a perverted view of what Buddha stood for, or ever taught.

They believe in fate, nothing to do with fear, they just feel "if it's my time, it will happen". Personal safety means nothing to most Thai's, and probably never will. The worst part, is that they have no care at all for other peoples safety, especially if it impedes their travel.

It's actually up right now, at 34.52

This is what happens when you have a heroin dealer running the show.

Informal debt is voluntary, slavery is not.

We have a 4 way stop near our townhouse here in Muang Thong Thani, and multiple 2 way Stop signs, nobody stops for the Stop Signs, NOBODY! They could write a thousand tickets an hour here, but they don't, that's with a huge police facility here right across from Impact Arena. No patrols, and whenever I do see the police, you guessed it, they blow right through the stop signs and crosswalks too. The Thai brain is wired for law-breaking, they just don't care about safety, even their own. I have lost count at how many times drivers have tried to run my daughter and I over in crosswalks near her school. I hate this country and it's people with a passion, mainly because of the "Culture" that everyone else can't wait to come see and enjoy.

Safety, especially while in transport aboard any conveyance in Thailand, is nonexistent. You are on your own safety-wise, you need to keep that in mind the whole time you are here.