freeworld

Oh my goodness.

It does not matter what visa you have, it is tax residence which matters with tax. 180 days and more residing in Thailand one is tax resident.

"A foreigner who lives in Thailand and owns a rental property in another country will need to declare the rental income from that property to the Thai Revenue Department. However, if the foreigner is already paying taxes on the rental income in the other country, they may be exempt from paying taxes on that income in Thailand. I personally know people from a country X, having a property in country Y and getting the incomes from AirBNB in Thailand, the country Z. That might change things for people like that." Why would the foreigner need to report the income from a foreign rental property if they do not bring the income to Thailand? Of course if that income is brought into Thailand it is taxable or if tax was already paid they would have some document to submit to RD at the end of the tax year.

Obviously, those are the laws in that country. One comes to reside in Thailand it is Thailand laws. One will have to get the Thai and authorities of other countries to update/amend their DTA to exclude, clarify the incomes to tax. How does one think it works in other countries? There is nothing to concern, the tax season is not even started.

Sorry to say but that is ridiculous. Nowhere else does this happen transfer money and it gets taxed. The bank will report foreigners account to the RD, balance and deposits, that is already part of CRS/FATCA, they have the residential address and can contact the home country to get information if tax was paid or not. If tax is owed, the onus is on the resident to fill in a tax form and submit it with all evidence. If the resident does not submit a tax return then the Revenue dept will then decide if tax is owed or not and it wants to take money out of the tax payers bank account. Of course laws are needed for all this as it exists in other countries. Anyway, this tax business is more focused on Thai/Foreign businesses and wealthy people moving large sums of money. Its all a big hullabaloo about nothing, there is nothing yet definite, the tax season for next year is not even started, RD and the big accountants still have a lot of details to iron out.

Gee whiz, that is a 34 baht difference.

Honestly, Human Centipede series has to be some of most the revolting movies made ever. Watched part of the first one and never again.

Seems like the only chaos is a lot of what is being discussed endlessly here.

Depends which tax residence you gave to ibkr. If you don't remit the capital gains to Thailand, there is no tax in Thailand. If you remit the gains (atm in the same tax year they were earned) then the gain could be treated as income and subject to the marginal rates of tax.

Thats not strictly correct Ref PWC tax summary 2023 Capital gains Most types of capital gains are taxable as ordinary income. However, the following capital gains are exempt from tax: Capital gains on the sale of shares in a company listed on the Stock Exchange of Thailand, provided that the sale is made on the Stock Exchange of Thailand, and on the sale of investment units in a mutual fund. Gains on the sale of non-interest bearing debentures, bills, or debt instruments issued by a corporate entity, except in the case where the bonds or debt instruments were sold for the first time at a price lower than their redemption price to an individual. Gains on the sale of securities listed on stock exchanges in the Association of Southeast Asian Nations (ASEAN) member countries and traded through the ASEAN Link, excluding securities in the form of treasury bills, bonds, bills, or debentures. Capital gains and investment income earned by a resident from sources outside Thailand are not taxable unless remitted to Thailand in the year of receipt. Capital losses may not be offset against capital gains.

Its a few years ago but I succeeded to change mine early. It used to be 1 year temp license. So just after the 1 year had passed, I took my 2 year license to Bang Chak driving license centre and succeeded to change it there. I went late in the afternoon when all the rush was finished, it was just before their closing time and the staff were quite annoyed with me in a friendly kind of way. They did the reaction tests, made my 5 year license, made an international driving permit all the while reminding me, mister you must come earlier next time.

This is what the hall looks like Be a bit difficult flying drones around there. I guess this is sort of a problem they have experienced in the past.

Have not been to a concert there but have visited mittr town mall a few times. It is a newish big shopping mall in Samyan area near hualompong station. It seems the concert hall is up on the 5th floor. There are many restaurants in the bottom and on the other floors Easily accessible directly from the MRT into the mall. Ticket major show the layout of the sections A and B https://m.thaiticketmajor.com/concert/40-years-of-morrissey.html

The revenue code article 41 states this "Any person staying in Thailand for a period or periods aggregating 180 days or more in any tax year shall be deemed a resident of Thailand."

Fatca is reporting US citizens income from Thailand. CRS is reporting and sharing most other countries (excl USA) financial accounts. All this info is submitted by banks/financial institutions to the countries tax offices who then share the info. You personally do not do anything until asked. I assume somewhere in the world there is a huge central database affiliated with the OECD which allows country by country to access this summary of financial info.

Where do you get that from? P161/2023 states it is remittance based.

Exactly, let the big accounting companies and RD sort it out and then they will clarify.

Its making them lots of money.

Think your outlook on Thais has become jaded. Most Thais dont think like that. Anyway one would not find anywhere else in the world a unique friendly welcoming people, country and culture accepting and adapting to many different foreigners interacting with them.

On Wise wiki page they list their services as remittance and foreign exchange.

Because if one notices Thais, when they are talking to each other they seem happy and their faces light up and smile naturally during their discussions.

So then where does the foreigner declare himself tax resident? Thailand is not a tax free jurisdiction.

If a person has a bank account in Thailand the foreigners account details would then be reported to RD. If at some point in the future the person became tax resident, any income transferred in previous years to Thailand would become taxable or it would need to be explained should RD detect it. Sounds like avoiding tax bordering on tax evasion.

The 180 days is on the general RD website and is in section 41 of the revenue code. Here is clarification on RD website. Document number: 406939 Subject: Counting the duration of stay in Thailand for 180 days. Category: 1. Personal income tax > 1.01 Persons liable to pay personal income tax > 1.01.01 Individuals  ask: In the case of foreigners traveling in and out of Thailand, how is the period of stay in Thailand that completes 180 days counted?  reply: To be considered to be in Thailand for up to 180 days in any tax year, that person must be in Thailand in the same tax year for a period or periods totaling up to 180 days, according to Section 41 of the Revenue Code . If living consecutively but for an overlapping period during the tax year That is, staying for less than 180 days in a given tax year is not considered to be a resident of Thailand. By looking at the passport stamped by the Immigration Office with the date of entry. Until the date of departure

Yes, in Thailand it would only be remitted earned or passive income from abroad. If one is resident in Thailand, the foreign jurisdiction is going to report that income and financial assets to Thailand under CRS, the onus would be on the tax resident to declare and pay taxes on that income that was remitted and if they do not the Thai tax authorities would know.