Mike Lister

I will try to find out.

Here's the latest independent review of the Thai economy, as of 29 February 2024. https://www.bot.or.th/en/news-and-media/news/news-20240229-3.html If you just want pictures and numbers, the following will better suit: https://www.bot.or.th/content/dam/bot/documents/en/thai-economy/the-state-of-thai-economy/monthly-2024/slide-en-2024-01.pdf It's all in there, tourist numbers, reserves, exports, you name it. The other interesting read (if you're into this kind of thing), is the Business Sentiment Index report which is forward looking and is rising, export expectations, significantly so: https://www.bot.or.th/content/dam/bot/documents/en/research-and-publications/reports/business-sentiment-index/BSI-2024-02.pdf

Removed 7 none essential posts but have left copies of the question asked and the answer given, in an attempt to declutter and keep the thread readable.

This is out of all proportion now, the very public punishments no longer fit the crime. I wonder what would have happened if the roles had been reversed, I'm guessing absolutely nothing.

I think what has probably been seen, as others before me in the thread have said, is that much of the deposits will be RMB which is close to a long term low against USD. It's probably a combination of safe haven and positioning for when USD weakens and RMB recovers. That weakening of CNY matches with the US DI value pushing over 100 and strengthening. https://www.xe.com/currencycharts/?from=USD&to=CNY&view=10Y https://www.xe.com/currencycharts/?from=USD&to=CNY&view=10Y

I seem to recall seeing that several provinces have requests in to build airports, Phuket wants a second one, Chiang Mai is getting a second one plus DOA has plans to build seven! It's become fashionable it seems, I would have thought the payback period wouldn't justify the build in some of those locations but who knows. https://thethaiger.com/news/national/thailand-to-build-7-new-airports

I can see no reason why you cannot keep the SSc money in the US and transfer as needed. Ultimately, it's an accounting tracking issue, just make sure you keep some reasonable records and understand what is what. That said, the chances of the average person being asked to prove the source of the funds is very low, I think.

You're an air transport person, here, this may be of interest. https://investor.airportthai.co.th/transport.html

Of course that is what the effect is of moving the currency out of China, my question was however, why would RMB want to buy THB when it could buy lots of other alternatives with a higher rate of return.

Isn't TR the classic digital nomad, other than he's married to a Thai? I'm presuming TR gets paid in the US, is taxed there and then imports his earnings, is that correct? Those things being true, perhaps opening a Thai company to receive the US earnings would work, that way he could retain his marriage visa and use the company and the US/Thai DTA to reclaim US tax with held?. @NorthernRyland

I'm hoping Sheryl understands it and gets it sorted, she's pretty good at doing that. 🙂

I receive US SSc directly into my Thai bank every month and that is non-assessable for Thai tax purposes,

Why would RMB buy THB at present value? https://www.xe.com/currencycharts/?from=CNY&to=THB

A flame and the response to it have been removed, think carefully before posting again.

Flame removed, make it the last one!

The employer doesn't have to be based here, the question is where the work is performed. Para 28 of the Simple Guide: As a general principle, any payment you receive for work that arises within Thailand is regarded as assessable income. You should note that if you are generating income by working while staying in Thailand, it is (and has always been) irrelevant where that money is paid and whether you bring the money into the country or keep it offshore. That money arises in Thailand hence it is taxable here.

The airline has made a much higher profit than usual because they are under court order financial protection and have been able to persuade many many holders of their debt, to reduce that debt. Even small shareholder who have held their shares via an LTF for the past twenty years, have had to foregoes dividends and any increase in the share price, since the purchase date. Whether or not any of that makes them a more financially efficient airline, is another story.

The OP is working for an American company but lives here on an extention based on marriage to a Thai. "I got quested when I did my first marriage extension just last year and the IO warned me to not work outside my house and made a little fuss about it. I did disclose I was employed when I did my extension (they asked for the company name and income amount so I told them)" and, "This basically means we're admitting to working while in Thailand, which is something you could kind of hide or they would ignore in the past but now it's right in the open. Has anyone thought about this and what they're going to do?" The OP is working illegally or he is here on the wrong visa, even though he is married to a Thai.

PM received and reply sent, get back to whacking weeds, you don't have any tax issues to worry about.

The OP is asking if he can substitute his daughter to receive funds already sent to him, the answer is that he cannot, once they have already been sent.

Sorry, a rant I want to get off my chest! After all the threads that have been posted on AN on this subject and the hundreds of mentions made of the simple tax guide, it sounds as though you still haven't bothered to read any of them and prefer to get your dis/misinformation from Youtube videos! There is no link between Immigration and the new tax law, at present. Once again, here's the simple tax guide link, strongly suggest you read it before posting further on this subject! I'm tempted to close this thread but will leave it open for a short time. If after you've read the guide you can post any remaining questions that arise, after which it will be closed.

Two posts removed, one flame and one animated meme. Please, control yourselves!

Poster @JimGant is current on US tax related knowledge, I'm sure he will be along soon to comment.

I have removed a post, per forum rule 17, please read the rules and adhere to them , https://aseannow.com/forum_rules/

Have you read the thread? Some cards do, some do not, many do, including mine.