Ben Zioner

5 minutes ago, Eudaimonia said:

So, $140,000 in tax is payable for a net income of $100,000. That's a 140% tax rate. Have I understood this wrong? It's a pretty steep price for the public services around here.

Thanks for giving me schadenfreude, if the worst happens to me I'll be hit only with 23%. And no bureaucratic hassle as I have only pensions..

On 6/6/2024 at 1:43 PM, hotchilli said:

Desperation sinks in.

Absolutely not, they are going to tax YOU.

11 hours ago, AreYouGerman said:

'Global' as in:

 

Something I am proud of...

29 minutes ago, Dogmatix said:

I have seen people say that but one of my banks overseas confirmed it was not the case. They only report year end balances and income/inflows into the account during the year.  Of course the RD can request more information from the overseas tax authority but I think they would need to have a good reason and wouldn't do it lightly. In future the scope of CRS reporting will probably broaden out and may include this data.

This will become irrelevant anyway if the the global tax concept goes ahead.

26 minutes ago, CharlesHolzhauer said:

I did not realize that the parliament could overturn a Royal Decree. Do I understand this correctly, and if so, could it be within the realm of possibilities that the tax advantages for existing holders of the LTR will be declared null and void, bringing it all to a level playing field?

LTR giving you a bad itch?

21 minutes ago, Gilligan In Drag said:

many would be asked to pay over half of their income a

How is that possible when the top bracket is taxed at 35%? Just asking..

5 hours ago, Sheryl said:

As this change requires amendment to tax law it  is not going to happen overnight so no need for immediate action. But it would behoove everyone to get and read the DTA between their country of citizenship and Thailand.

 

And anyone with significant income abroad who has not been paying tax anywhere based on being non tax redident in their home country   might want to calculate potential tax bill and consider if they may want a Plan B. 

Indeed, but extremely annoying. If RD 743 gets rescinded I'll be hit with and 800k Tax bill, not enough to justify 185 days a year away from the family, but an almost impossible amount of savings to achieve while keeping everyone happy and cheerful. Practically less holidays, less western food, no more extensions on the house, only value saving maintenance, keep aging cars, etc.

On the bright side I managed to extend my tax free life by another decade, which I didn't expect when I came here. And IMHO I most [pragmatic] people here will follow the same approach, once settled it becomes near impossible to find a better deal elsewhere, even after tax.

27 minutes ago, BigBruv said:

I think that's the issue: people with "substantial wealth" only visit Thailand for short holidays in private type resorts unless they have certain predelictions. 

NOT taxing foreigners attracts low class people.  Low class people repel middle class and high class people.

Thanks, you give me hope with regards to the LTR tax exemption. 

32 minutes ago, Presnock said:

as previously mentioned many times on this forum - read the DTA between your country and Thailand ... also, maybe kevin612 has no income.

That's what all French expats did, just to find out that the Thai version and an unofficial English translation differe from the French version on some key points. 

41 minutes ago, TheAppletons said:

 

  I was going to say "corporate tax" but the corporate tax rate in Thailand is 20%.

 

  So perhaps that poster is referring to the capital gains tax, which is 15%.

Or council taxes known as "rates" in some parts. Which would raise another interesting point as my wife pays a ridiculous yearly amount like 25 Baht tax and 500 for garbage collection. Used to pay 4000 Euros a year in my previous life.

20 minutes ago, Yumthai said:

VAT 10%

PIT 15% for income/capital gain > THB3M

CT 15%

What is CT?

14 minutes ago, lordgrinz said:

 Define "Fair share"

Flat rate 13% , from first cent earned.

17 minutes ago, Middle Aged Grouch said:

 

For those who can, time has come to sell one's property and leave Thailand.

How much will you pay were you go?

7 hours ago, oldcpu said:

Also, it makes ZERO reference to the LTR visa, so is it even applicable here? 

The problem is that it would make the paragraph  of RD743  on the remittance of foreign income irrelevant. Remittance won't be taxed anymore, earning will. Having to rephrase RD 743 may well lead to unpleasant changes.

19 minutes ago, beammeup said:

I cant see this happening any time soon. Maybe 2026?

Probably for the 2026 return of 2025 income. But that's asap.

28 minutes ago, Yagoda said:

It was last month when I walked out with #218, got a burger and smoked a joint before I headed down to a short time hotel.

I see, some kind of a raffle and #218 got you a burger and a joint, yes must be borderline legal.

Read sea diving, and Russian whores in Hurghada.

1 hour ago, Yagoda said:

Tatted up hotties with Roboboobs and butts like 10 year old boys writhing lustfully in front of your face as you smash down shots of cheap booze.

 

Nana plaza also has weed shops and Nana Burger across the street

Is this legal?

2 minutes ago, OneMoreFarang said:

Nana, Cowboy, Soi 6, ...

Maybe you could clarify what would be of interest in these places?

On 6/3/2024 at 9:06 AM, BritManToo said:

Much easier if you were a foreign female, which only require them to be married to a local for 2 years.

Amazing backwater.

4 hours ago, impulse said:

As fun as it is to rag on everything Thai, I wonder if this is just a race for the cheapest labor, with Thailand's GDP per capita being 170% of Vietnam's?

Isolate the portion of GDP confiscated by the richest 1% and recalculate. Sorry to disappoint..

And give Vietnam another ten to twenty years, they are only at the beginning of their journey.