MangoKorat

9 hours ago, Hellfire said:

Their hot women? The filth of the filth, actually. The worst women of Thailand are those ending up in the Pattaya bars. Both physically and mentally. Ugly, greedy, broken, dishonest, evil… you name it. Just as the sea washes all its trash and dirt onto the shore, so does Thailand expel all its female scum to Pattaya. For the 'most beautiful and irresistible' foreigners.

Would it be fair to say you're not a fan of Thai women? 😁

2 hours ago, Liverpool Lou said:

Do they really?   Any examples of individuals doing that consistently, i.e. not a legitimate one-off circumstance?

As I mentioned in an earlier post - read The Panama Papers.

1 hour ago, KhunHeineken said:

As for the construction industry, well, there was already a big oversupply.

That depends on which market you're talking about.  I don't doubt there's an over-supply of condos in Bangkok or Pattaya - even houses.  However, many thousands of foreigners have built homes all over Thailand and either live there with their wives or visit regularly.  I know of one builder in my area (of Thaliand) that's spent at least the last 2 years working for foreigners.

If foreigners can't get their money in to pay for those builds, many small builders in Thailand will suffer + the knock-on effect. Mind you, the Revenue Department probably won't care if they do.  I suspect that very few of them (builders) actually pay tax.😁

1 hour ago, KhunHeineken said:

Interesting that you are looking to bring money into Thailand, when so many are considering getting money out of Thailand.

My move to Thailand was originally planned to take place in 2009!!! It was thwarted by the global recession and since then by other things like Brexit, Covid and inflation causing high interest rates. All of which had a highly negative affect on the property market which I was (am) involved in.  Things are finally looking better now and although I will be keeping some properties, I am selling my UK home because I can do so without being liable for any tax on it. The other properties would attract Capital Gains tax so they've been sorted differently.

I've been involved with Thailand for over 21 years and you could say my life exists there - at least the social side of it does.  Prior to Covid I was visiting every 8 weeks for 2 weeks - having spent 7 days per week of those 8 weeks working. I had no time for a social life anywhere else. Just about all of my friends are in Thailand and I've had a home there since 2014 - I've spent 9 years getting it how I like it. I was married to a Thai woman but I'm not now - enough about that.

None of us know how long we'll live so I can't guarantee that the assets I have will last me out. I also have no intention of retiring as I believe its 'the kiss of death'.  So my plan has always been to start a business in Thailand which will hopefully provide me with a reasonable income until I snuff it. It should also keep me active when I reach 'old age' 😁. There is no way on this planet I would ever 'retire' to Thailand and sit in a bar every day or spend my days hitting a small ball around with a stick - and then go to the bar.

Hence my need to get a chunk of money into Thailand and my worries that any changes to the taxation system could affect me negatively.  Until recently, I'd only considered the effects the new taxation rules might have on my income, I hadn't thought about the funds to start the business because I didn't think they'd be affected.  I know plenty of guys that have transferred large amounts of cash into Thailand over the years to build houses, buy cars etc. and never paid a penny in tax on it - that all seems to be under threat now.

56 minutes ago, KhunHeineken said:

I'm aware of the other ways.  Legal, and otherwise. 

 

Do you need the grief? 

Well on reflection, I do need to bring money in and possibly more than would be possible or even feasible by alternative routes. I'm not thinking of the proposals that are the OP (global income) here - rather the tax residency rules. I'm hoping that its possible to remit funds in the tax year before I become resident and if that is possible then I might 'future proof' myself and bring in more than I actually need. If that is the case then there could be 1,250,000 reasons for me to face 'the grief'.

People have mentioned the consequences for Thailand in introducing all of the new tax measures they are proposing. I'd only thought about that in terms of annual income and with the allowances many of us can keep that down to a level where very little or no tax would have to be paid.  What I'd never thought of is those who bring funds in to either buy a house or buy land and build on it. I can see that coming to a grinding halt.

The Thai tax authorities should maybe think about the Thai builders and building supply companies etc. etc............ that have for years, benefitted from foreigners having houses built but will they?  Very doubtful as they almost certainly have no idea just how many houses have been built that way over the years.

Who's going to sell their house in their home country where they most likely don't get clobbered for any tax at all and remit those funds to Thailand where they will be taxed on it?

It all seems a mess at the moment and I've spent the best part of a day reading conflicting accounts.

The advice below from the respected PWC seems to state that I could avoid tax even if I was resident by not remitting it in the same year as a capital gain is made.

'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.'

https://taxsummaries.pwc.com/thailand/individual/income-determination

The 'last reviewed' date on the report that's from is 13 February 2024 - I thought all that changed on 1st January 2024?

I think the time has come to talk to and old Thai friend who works for Deloitte Thailand - I'd forgotten about her but we are still in touch and I think she will help.  I'm wanting to take money into Thailand mainly in order to start a business - I know mine would be miniscule compared to some but surely they want to attract investment - not prevent it?

37 minutes ago, save the frogs said:

 

But taxes help avoid corruption. Cops need to be well-paid or they wont protect the average person. 

 

Let's face it. No one here is a genius economist to determine how govts should collect taxes and distribute them fairly. 

So I'm not sure I'm on board with "vigilante tax villains" taking matters into their own hands with fake IP addresses.

 

Tax system seems fair enough to me. It's the ones making over 60K paying a lot of tax ... and so what? How much do you need to horde?

You can always work less if you're paying too much tax. 

And horde less useless crap. 

 

 

My point is that most low, middle and even high earners pay their taxes. The super rich find ways of paying very little or not paying any at all. 60K?  Some of these people earn in excess of 60 million.

20 minutes ago, bob smith said:

My sentiments exactly.. 

 

35k a month. Now that really is ChumpChange! 

 

Bob. 

Yes well Bob, you will no doubt be aware of how you are regarded on here, seems you have a new mate.

4 minutes ago, G_Money said:

So why reply?  You in that same boat?

 

Yes mate, totally broke.

4 hours ago, fredwiggy said:

Women who go into prostitution, subtracting the ones forced by human trafficking, have a thinking problem, usually coming from being abused as children, having an immoral mom or dad, or both, or not having a father or good male role model in their lives.

I don't think its the same in Thailand.  From what I'm told a very common reason for a girl from a poor background going into 'the trade' is when she sees a 'working girl' arrive back in the village complete with a new Gucci handbag an iPhone.

You should also not forget that there is no social security or housing benefit in Thailand and some single mothers have a very hard time.

1 hour ago, G_Money said:

35K??? Well, I suppose if living in a fan room or a bit more upscale at Nirun Condos if one desires.. 

 

Food carts, Chang in a paper bag from 7-11.  Watching everyone else having a good time.  Living the dream!

 

Forget Beefeaters but one might be able to talk down a Beach Road girl to 500 baht once a month.

 

But most of all one will be a big hit with ladies.  They dig guys that have 35k baht a month.  It turns them on.

Not even worth a reply.

I've had a read through the excellent guide provided by @Mike Lister - as excellent as it might be, to those of us with a 'less than financial' mind, it all seems mind boggling.

I fully understand that any and all income remitted to Thailand by a tax resident may well attract taxation but how about someone who is not tax resident?

Say for example that whilst you are NOT tax resident in Thailand, you remit funds to your Thai bank account, funds that would not normally be taxable in the country where you reside for tax purposes, is that money taxable or does it even need to be declared.

For example:

If say I sent 5 million baht from the proceeds of a house sale in the UK to my Thai bank account whilst still living and being tax resident in the UK, is that taxable in Thailand? Would I even need to declare it? For the purpose of clarity, let's say that the source of the money was the sale of a sole residence - not normally assessed for capital gains tax in the UK.

Does anything change if I then move to Thailand during the next tax year?

4 minutes ago, gamb00ler said:

If instead of that deduction they just increased the tax threshold then the tax reduction would be applied to ALL income instead of just employment income.

So for example, those working pay less tax than those getting income from investments?

3 minutes ago, Raindancer said:

That of course is depending upon this proposal being enacted by the TRD.

I thought that foreigners earnings were always assesable and the only change was that the loophole of earnings from the previous tax year was the only thing being changed?  It was my understanding that that became law on 1st January 2024.

(not talking about the new 'Global Income' proposals)

2 minutes ago, KhunHeineken said:

That's great for your kids, when you pass, but what about using the proceeds in Thailand?  Either some of the sale money, or the interest earned?  It becomes remitted funds. 

I wouldn't be stupid enough to remit those funds by transfer - there are other ways.

5 minutes ago, KhunHeineken said:

Looks like just a flat fee income tax deduction. 

Yes but my interpretation (probably wrong) is that you don't pay tax on the first 50% of your salary (up to 100,000). If that is correct then why not apply it to the tax threshold in the first place?

3 hours ago, Raindancer said:

e) In addition, the first 150,000 of assessable income is zero rated and free of tax (ZR

Total allowance 560000

So what you are saying is that you deduct all your allowances and the remainder is your assesable income.  Then the first 150,000 of that income is not taxable?

Can someone please explain what this means - I'm baffled.

Employment Income Deduction

• You can deduct 50% of your employment income, up to a maximum of 100,000 baht, from your taxable income. However, you can’t claim business-related expenses against this.

https://www.expattaxthailand.com/thailand-expat-tax-rates-allowances-and-deductions/

9 minutes ago, KhunHeineken said:

The proceeds from the sale of the UK property earns interest.  That interest is "income" and you are living overseas. 

Yes, I didn't say anything about interest, I am aware that interest is income.

I still doubt, even if this new proposal comes to fruition, that it will be able to be applied retrospectively so selling assets before you move should protect the original proceeds - providing they stay put.

7 hours ago, MalcolmB said:

We are taller, bigger and more handsome than the Thai males and most importantly have more money.

Which results in Thai women falling over themselves trying to get a farang. They are very open to a big age gap also.

From some of your other posts I had wondered if you are serious or just trolling.

Others had questioned your sincerity in different threads - I was suspicious but gave you the benefit of the doubt - until now.

You claim to be relatively new to Thailand, asking questions about property and business etc. yet you now purport to have knowledge of Thai society.

However, your knowledge is seriously flawed and also limited to only a section of Thai society.

We have more money - when Thai guys are rich, they are seriously rich.

Thai women falling over themselves to get a farang - only the section you deal with. Most middle class or rich Thai women won't date a foreigner as they are looked down upon by their peers.  There are exceptions - I'm talking about most.

Thai women are open to a big age gap - again, that depends on which section of society you are talking about.  It also depends on their intentions.  There are some girls, some not many, for whom age is not a barrier but ask your average Uni girl what age group she's looking at when choosing a boyfriend and you'll soon see the error of your ways.  Put yourself in their position, would you, as a 25 year old, be looking at 60 year old women?  There is a reason why SOME Thai girls will accept, even look for, a much older guy.

I looked at the original 'new taxation' arrangments where income remitted to Thailand would be taxed and was OK with that.  As for the latest proposal - to tax global income..............

Firstly, I doubt this will actually be enacted - there are a hell of a lot of influential Thai's that would be affected. Then there is the matter of your home country sharing your financial information with a foreign authority. Granted the anti money laundering regulations mean that many countries share information but would that include your entire position?

Say I sold my sole dwelling in the UK (in 99.99% of cases tax free) prior to moving to Thailand and left the money in my UK bank account - why would my country see reason to give that information to the Thai Revenue Department?  Provided I timed it right, why would any of my financial dealings in a tax year when I was resident in the UK be any of Thailand's business?

I haven't checked the DTA between the UK and Thailand so I'm not sure if that's covered by it.

That would be a game changer for me, I have no problem paying income tax - provided its the same as Thai people would pay but as for paying capital gains tax on the sale of my UK home - no way. I would have to have a rethink on my plans to move to Thailand and find an alternative.

2 minutes ago, Hummin said:

 

Then you loosing in both ends, as said you miss out when you do not trust people, treat everyone the same, looking for red flags all over, and mistrust becomes your survival instinct. 

 

Nobody go through life without failure, some grow, others pull up their shields, and become experts on negativity. 

With respect, you do not know my story and I'm not about to tell it here. I have trusted many times and each time been kicked in the balls. I find the best way is not to trust at all - for me trust is earned, not given.

Anyway, this is not about me, I have posted my thoughts on relationships with bar girls - let's leave it at that.  I didn't notice anything in the OP where it said all comments will be disected and the poster questioned as to their knowledge. All the OP calls for is people's opinions on whether marrying a bar girl can work or not.

2 minutes ago, OneMoreFarang said:

Good if you can spot a lie.

Sadly I look at everything as a lie now - its a starting point I place there for protection - not really that I can spot a lie.

Many years ago when I wasn't sure of a girl I was dating but thought I could, I bought her a phone for christmas. What she didn't know was that the phone had Flexispy installed on it.  I expected I'd catch her out, I just wanted proof so that I didn't finish with her simply because of an unfounded suspicion.  Flexispy at the time was pretty cheap and I figured it would save me a lot of time and money in the long run.

However, the level of her deceipt was unbelievable, there wasn't just one guy - there were many + one night stands. She's also met one of her 'conquests' (that's how she saw them) at the airport after waving me goodbye 😀.

That girl gave me a grounding in Thai girl lying and it went downhill from there.

26 minutes ago, Hummin said:

Talking about having high thoughts about your self. Nobody is imune to lies, and nobody is 100% so secure they know when a girl speaks the truth. We all have to gamble in life, and go along to see whats in the other end sometimes. 

High thoughts?  I have no 'high thoughts' at all. I think you need to learn to read instead of skim reading.  Nowhere did I say 100%  and nor did I say I was immune. I said it would be very difficult for any woman to get a lie past me.

That's not something I'm particulary proud of - I learned they hard way, and much harder than most.  I'm not about to spill my life story here but there are members here that know me personally and they know. And no, before you speculate, I'm not one of the idiots that comes to Thailand and loses every penny he's ever had.  My story is about far more than money - it came very close to me losing my life.

So next time you critcise someone and think you know far more than them - take the time to consider that there are people out there that have been seriously wronged!

42 minutes ago, Ben Zioner said:

Sheryl, with 25k a months (300k a year), he will pay zilch. Being 74 he can claim 190000 for being a senior which leaves 140000, 10000 under the threshold.

I'm not sure that is correct. The basic allowance is 60,000 + another 190,000 for over 65's.  If his wife isn't earning there is a further 60,000.

I also think you are looking at it the wrong way.  My understanding is that you take your total income, in this case 300,000, then take your allowances off - the remainder is taxable so in the example you give, he would have 140,000 of taxable income.

He would actually get 250,000 of allowance (+ possibly another 60k for his wife), so his taxable amount would be 50,000 and taxed at 5% so without any further allowances his tax would be 2500.

At least that's the way I read the way the system works in Thailand. I could be wrong.

There are also various other allowances.

1 hour ago, Liverpool Lou said:

Re (b), yes, a receipt is issued for a traffic fine if they request a ticket.   If the offender, voluntarily, wants to be part of the corrupt system, there won't be a receipt.

Wrong, they pay the 200 baht because they don't have a licence.