SuperSaiyan

57 minutes ago, Iamloki said:

I visited the Manila and Boracay in 1999... Truly loved the experience (even Manila 555), but really had trouble with the food... If I can't eat the food, it's really hard to spend any real time in a place. Other than that, I might think about it...

Well, it's 2023, and all food is available. Nobody needs to eat food they don't like.

6 minutes ago, jacob29 said:

That's nothing to do with assets though, you're talking about income and tax status on that income.

What? Of course it does. The structure might make it sound like it's income for you but what if you own the properties in your name and then transmit the money to Thailand? What about selling property while you are tax resident in Thailand? Or what about owning stocks which pay dividends with a broker who has you listed with a Thai address? I mean, it's okay if you don't understand that, just be assured, most people don't even need to worry about any of that because their pension are already taxed and that's it. They need to be worried about that they have to file the paperwork as well and present it as further requirement to get a visa - didn't file your docs? "no visa for you, buddy."

5 minutes ago, jacob29 said:

I think it does, as I don't think this tax will apply to assets in the way some are thinking.

 

It's probably going to be the same as a global tax on income (like pretty much every other country in the region), with the added 'perk' that if you bring in less than you have cumulatively earned abroad *while you are a tax resident*, you don't have to pay tax on it.

 

Mind you, the fact they haven't made clarifying statements and provided concrete examples is kind of baffling lol. It doesn't make sense to tax assets though, that would make it one of the worst tax regimes in the world. Does it really make sense to go from one extreme to the other?

So you kinda didn't understand the difference between the regular foreign retiree which won't be affected whatsoever because he's taxed out to the max already and a guy who has f. ex. a company in a 0% tax country owning rental properties and then become tax liable on money sent into Thailand.

And my guess is that this is only the first step. Next step will be include every foreign income like in every other Western country. If you tell the German tax man that you only want to tax income received into Germany he's going to unleash hell on you.

9 minutes ago, ThomasThBKK said:

 

Just get an offshore loan transferred into thailand using your stocks/bonds/assets, pay it off with offshore dividends.

 

 

So in that case, the only question which remains will be how much lube the tax man will use. From a German perspective, they don't use lube once you try to make a fool out of them. But luckily, Thai authorities aren't German so you can probably do tax evasion, until you don't. But in this case, why make it complicated? Just use an ATM card from a bank in a country which doesn't share info with Thailand.

5 minutes ago, ThomasThBKK said:

Absolutely incorrect.

 

Dividends paid by US companies/US index funds etc are taxed in the US already with 15% withholding taxes. 
Thailand has a DTA with the US and this is part of it, thus those will be tax free. Many other such DTAs exist. 

State pensions and co from western countries are also mostly exempted etc.

 

Absolutely not incorrect because obviously you won't pay taxes if you paid taxes already and it has been subject to DTA rules. It's very easy to understand, if you paid taxes already somewhere, you won't pay in Thailand, if you didn't, you will be taxed - DTA won't change that.

This statement is also absolutely correct, it just doesn't address whenever taxes have been paid already and if there is a DTA.

"There is no difference in where it is sourced anymore and it doesn't matter if it's dividends - if they are brought to Thailand, they will be taxed. "

11 minutes ago, pedro01 said:

I hate to break it to you - those bar girls in PI have pretty high "body counts" too...

Do you mean the small whore street in Angeles where it's 95% Koreans? Who would go there if you get daily 100+ matches in Tinder from girls half your age? Don't confuse the Philippines with Thailand. The whore mongers are all in Thailand as it's one of Thailand's biggest selling point.

But I just love how you compare White girls in general with whores in a whore street. Facts, bro!

23 minutes ago, newnative said:

But, my understanding, only liable on money sent to Thailand, where it now becomes assessable for taxes.  Not sent to Thailand, not assessable, no tax owed in Thailand.  Hope this interpretation is correct.

Yes, you are correct. Still need to file for income tax. Paperwork will be added to be able to receive a yearly visa.

18 minutes ago, Karma80 said:

Why. The expansion of the RD directive is regarding remitted monies, not dividends (a passive income which is not Thai sourced), which remain overseas. This is not assessable or included in a Thai tax return.

There is no difference in where it is sourced anymore and it doesn't matter if it's dividends - if they are brought to Thailand, they will be taxed.

10 minutes ago, newnative said:

   It's my understanding that I can, indeed, generate off-shore tax-free money while being a tax resident of Thailand--staying over 180 days--for tax purposes.  For example, I earn $10,000 a year in stock dividends that are earned in the USA,  and sent to my USA bank.  I am under the impression that this money only becomes 'assessable' for tax if it is remitted to Thailand.  Otherwise, Thailand can't touch it and collect taxes on it.   Is this incorrect?

If you are paying income tax in the US, it will be non-taxable in Thailand but you will have to submit your documents to the Thai tax authority. If you didn't pay tax in the US, then you will be liable in Thailand.

10 minutes ago, NorthernRyland said:

not liking the food of a country is a serious problem. Are you going to prepare all your meals at home yourself? A pleasure of Thailand is having so much good food easily available.

No, I go mostly to restaurants or order from food delivery services from other restaurants. Food not available in the PH? Where did you hear that?

4 minutes ago, Andrew65 said:

To be honest with you, I'm not a very 'foodie' person anyway. Over the 20 years that I lived in Thailand I hardly ever ate Thai food. But for some people food would be a bigger consideration.

I am a big food enjoyer and I never ate street food in Thailand anyway, except the chicken at 5 am, drunk. I always bought stuff I like in the supermarket or went to restaurants I like. The PH are no different except if you're in a remote island/place, the food options might be more limited, but the same would apply if you would live in Isaan.

5 hours ago, hotchilli said:

My UK pension proper starts in 2025... if that looks like getting taxed I'm seriously looking at upping sticks after 15 years here. Especially as the pension would be frozen from the first year.

PH is on my list for the reasons you have stated.

Good decision and if you're based in the PH, under 180 days trips to Thailand are 2h flight away.

5 hours ago, bkk6060 said:

Yes, they speak good English and that is part of the problem.  My experience with Phils girls are they are more western attitude and with their English, more argumentative and demanding.  Add the Phillipines is really a hole 3rd world desperate down grade from Thailand.  Good luck to those who choose it.

As if Thai girls won't have the same negative attitude. This isn't country specific, this is female biology specific. Also, western attitude isn't correct, they are still submissive and I think even more than Thai girls.

So, Thailand isn't a 3rd world sh... thing? Yeah PH is behind 20 years, as I initial wrote. Some people like it that way and some people don't.

3 hours ago, JimTripper said:

But the food sucks.

Again to you, nobody forces you or do you have mommy on your back? Why don't you decide to buy food you like? Everything is available.

1 hour ago, Andrew65 said:

The Phils isn't famous for it's food, also I get the impression that it's not as safe as Thailand.

So, why don't you eat anything except Philippine food? It always puzzles me when people say "oh but the food" - but nobody forces you to eat it or are you a child? Just go and buy what you like, everything is available.

1 hour ago, JimTripper said:

Curious to how it has zero hassles. I read that you need to deposit 20k usd over 50 with no pension/10k with pension for the retirement visa, under 35 yo. it jumps to 50k usd deposit & apply with a bunch of documents.

 

sounds about the same as thailand hassles to me. are you border bouncing?

 

https://visaguide.world/retirement-visa/philippines/

No, no.

No, you just don't use this visa, you use a tourist visa which can be extended something like 1 month, 3 month and then for a year and then you can stay for 3 years inside the country. After 3 years you need to fly out/in (same day) and repeat the process. Indefinitely. It's absolutely hassle free.

15 minutes ago, Mavideol said:

that's not specific to Khao Lak but all over Thailand due to their poor roadsite infrastructure and bad drivers

Well the curvy and hilly and dark (no lights) road at the entrance of Khao Lak from the south is a bit unique in that aspect (well except the Patong entrance over the hill and Patong <-> Bangtao, but its not a "highway") and it could lead to a lot of bus accidents coming from the airport, especially if it's slippery due to rain. But obviously they kinda exaggerating.