Mike Lister

I'm sorry I don't know, poster @Neeranam posted the link, I just gave it wider coverage.

I'm not sure what you said here. What I said is that if the CG has been taxed in the home country, it is unlikely to attract CG (PIT) in Thailand, unless the Thai rate of PIT is higher than the CG rate in the home country.

Nakhonchai Air always receives favorable reports, when we pass their buses on the road the drivers are usually well behaved. Another option of course is train to Bangkok and then a bus, but I imagine you've already considered that.

Only Japan and Switzerland have lower central bank rates than Thailand, reducing them further is foolish, BOT should stand its ground.

I agree. But International Tourism does that more effectively because there are 24 million international tourists and only 400,000 expatriates. As you quite rightly say, it's the improvement of consumer spending at the grass roots level that's important to GDP, rather than anything to do with the foreign currency tourists exchange.

I got involved in a lengthy discussion with several people over several days regarding this process so I seriously am not going to go there again. What we determined the last time around is that there are several variables involved and where the person dies and how they die is are the most important. A sick person who dies in hospital or as the result of a road traffic accident is very unlikely to be sent for autopsy whereas the middle aged person dying alone suddenly in their apartment might be. The police report that staes the cause of death is important, allegedly. In almost every instance there is usually a link to the police who issue a police report which is then taken to the Amphur where the final death certificate is produced, the doctors initial report of death is not the final document. Yes, the embassy must approve release of the body to the next of kin and if there is none in country, must await approval from overseas. The hospital wont release the body without an embassy approval letter (which shows cause of death has been confirmed). Many people will have variations on this story because that's what happens here, every process has regional variations based on the people and the factors involved, and the phase of the moon. Debate away, I'm off.

SWIFT transfers are unlimited, unlike many money transfer companies. Plus the HSBC UK charge to remit Sterling to a Thai bank is only 5 Pounds and the negotiated conversion rate at a Thai bank is usually quite competitive. It may not always be the way to go for the person who wants to squeeze every last satang out of a currency exchange transaction but for many, it's a safe, no risk and pain free method that quick and easy.

These issues about capital gains losses and how to manage gains (or losses) from investments and property etc, aren't new ones that have suddenly changed because of the new ruling. Yes, those proceeds would have been free of Thai tax under the new rule, if imported in a different year from when earned. But CG in Thailand is charged at PIT rates which means it is likely to be much lower than in the West. As long as the sale of the investment has been through the home country tax process, I can't see there being a tax issue here in Thailand because the transaction will already have been taxed.

There's a Bangkok Post article dated 25 October 2023 entitled "HSBC Thailand taps global connectivity", which talks about them growing their asset management business here to better serve their HNW clients. It sounds as though they may have asset management operation, specifically for HNY clients.

Logically, you would think that should be so but it isn't. Studies have shown that it's not the strength or weakness of the selling country's currency that's important, the strength of the buying country's economy is. If the potential buyers economy is in the doldrums and they can't sell their products, they don't import products to make them in the first place, no matter how cheap they may be

I'm still very keen to understand the basis on which a tax filing wasn't necessary, was it because the funds were already taxed overseas, what was contained in the DTA or because of the amount involved. If you ever find out, perhaps you'll let me know because it's key for many other people also.

One of the first requirements, following a death, is to notify the police. I don't know the process they go through but they are the ones who logically would insist on identification. I don't think they are the ones who notify banks but it's possible. It seems more likely that relatives may do so in the course of wrapping up the deceased affairs and that the banks may be the last ones to know, probably quite some time after the fact..

I say girls and I'm being polite, but even still, you do have a point.

I only picked up this thread from page 40, I do not go back and read every post in every thread, prior to the point I entered, I start reading from my point of entry going forward. The forum rules are very clear on when links must be provided, let's not have that discussion again!

I don't think it would be that difficult to to do that Jim, some of the RD forms already have sections for exempt income so a slightly different form that is an extension of that will work. Dear Taxpayer - please list all overseas transfer sources of funds received, annual amount of transfers recieved and stating whether assessable or not....job done.

Tax Briefing - Hua Hin BCCT Pre-Connecting Western Seaboard (Hua Hin) Tax Briefing This Event closes for Online Bookings in 3 days 19 hours 11 minutes. Add to Google Calendar Date & Time: Fri 02-Feb-2024 17:00 Location: Holiday Inn Vana Nava Hua Hin, Meeting Room on Mezzanine Level Duration: 1 hour Member Cost: THB 0.00

This seems like overkill and reactive, let's chat offline.

I don't think it has to be that one person is totally wrong and everybody else is totally right, I think there are shades of both in both camps. I think Dr Ratchada is really good but I can't get to see her because I've seen another Ophthalmologist where she works and I'm considered her patient...it's very odd. Plus I never said there weren't very good Ophthalmologists in the North, I just said the situation is not quite right. All my money is on the Optometrist at Vision Center who has my deep respect for his professionalism, he's not a licensed Ophthalmologist but he has some very similar skills.

I agree with you, 99%, but I recall reading something about HNW accounts which surprised me. I'll see what I can find out.

Poster The Cyclist has filed a RD contact report in another thread and reported that he has been instructed not to file a tax return this year involving his two UK pensions that are above the tax Thai threshold. Unfortunately, he doesn't know why he doesn't have to file a return and he didn't ask. My understanding is the above poster was told he didn't have to file a return, because both of his pensions were taxed in the UK. If that understanding is incorrect, I'm certain it will be corrected in due course.

No, only a Thai lawyer can address a Thai court.

I think there's something not quite right with Ophthalmology in the North. I've seen at least seven different Ophthalmologists and each one was lacking quite seriously: Number 1 wanted to perform a wholly unnecessary and very expensive procedure that left my Ophthalmologist at the Rutnin shaking his head in wonderment. Number 2 said she was the same person I'd seen three weeks earlier who turned out to be one of her students and who missed a torn retina. Numbers 3 and 4 were booked for a consultation but both bookings were cancelled at the last minute by nurses. Number 3 because I was already deemed to be a patient of number 2 and number 4 because she didn't like to consult with farangs because of her poor English, even though she spent two years at university in an English speaking country. Number 5 started off well and launched into the inspection of the eye but immediately thereafter refused to look at me or to speak English and would only engage with my wife in Thai. I tried everything, up to the point of rudeness but she wouldn't engage. I finally walked out and took my wife with me. My appointment with Number 6 was to get a prescription for new glasses. I've had eye exams every year for the past 65 years and have worn glasses since I was four years old, I've been examined at Rutnin and at Moorfields and I know what a good eye exam is. This chap opened his wooden box of lenses, fitted two into a frame and put them on my face and told me to read the chart. When I said I couldn't he said try! There was no tweaking of the prescription and no technology, the lenses he had picked were the ones he was going to prescribe. "It's the cataracts you see", they're so bad we can't do better than this. One of the problems is that all the girls went to the same uni. and are all part of the same club and they all trade notes on patients and work at the same hospitals. Skill wise, I doubt there's much difference between them. The Rutnin may be pricey but at least you know you're getting the best in the business and they don't play games. I've always been left with the impression that the required monthly follow up visit's to check and make sure everything is OK, were nothing more than money spinners, a quick 500 baht for under ten minutes. work.

I believe that HSBC Thailand does offer wealth management to wealthy expats hence it is more than just a commercial bank operation. https://www.hsbcnet.com/gbm/customer-support/contact-us-thailand

I use HSBC in the UK. When I make a SWIFT transfer from the UK to UOB Thailand, it comes via HSBC Bangkok which is a commercial branch rather than a retail branch but is nevertheless used for currency exchange and pass through. I don't think that HSBC has a SWIFT relationship with any bank in Thailand, I believe they either use NatWest UK for transfers to Thailand, or they use their commercial branch in Bangkok. These relationships change frequently however so what they might be today is unclear, I very much doubt however that HSBC uses Bangkok Bank as an intermediary bank.

There's two primary reason why a return need not be filed. The first is it was a nill return, the second is that the imported funds had already been taxed in the UK. Without sitting down and reading other threads and posts, it's not immediately clear to me which reason applies in his case. Knowing the reason for absolute certain, is important.