Mike Lister

Yes, I misread the numbers, you are right.

The bankruptcy filing was valued at 111 mill baht but the impact on Thai hotels was substantially less. FTI is a German tour operator that doubtless has other interest than Thailand.

I agree also.

I have to agree with this.

I didn't just post a section, I posted an entire guide which I had hoped you might read, not just because it contains the answer you need but also because you would learn other things. The guide says, US SSc and government pension income is regarded as exempt income, it is not assessable and does not need to be declared on a tax return....it actually states the same, three times. I don't know why you mention Thai income et al since US SSc paid to Thai's is not covered by the treaty and is taxable here.

The answer is here:

Er....I am non-resident in the UK for taxes but I still pay UK tax on any income that arises there, rental income and pensions primarily. That doesn't however make me UK tax resident.

When you arrive, go into a large branch of Bangkok Bank in Bangkok and tell them what you want to do and why and I don't think you will have a problem, there's not need to use an agent. If you do have problems, there is a forum member who is senior in Bangkok Bank and will no doubt be able to assist. .

Given that know her well and she is your g/f, it would be difficult to call the account a mule account since the purpose of the account is not to defraud or scam, it is a part and parcel of the relationship. I do not believe you are breaking any rules/laws.

Cross posted here for completeness: If you have overseas rental income to declare next year, there's a standard deduction of 30% of gross rent to cover all rental related expenses. Alternatively, you can deduct actual expenses, if they are greater, but you will need to provide incontrovertible proof those expenses are genuine and essential. If you import any rental income before 30 June, you will need to file an interim report hence two tax returns per year. If at all possible, wait until after 30 June before remitting rental income to Thailand.

I am. I think it's important to be factually accurate with these things, even if it does appear to be pedantic.

Only the workforce is measured for tax purposes, that's 38 million people, it's the same in most countries.

Another point to remember when filing tax returns is that THB has been weak recently, the long term average against USD is closer to 32 than to 37, hence, there will be a 15% pickup in your favour at some point in future years..

If you have overseas rental income to declare next year, there's a standard deduction of 30% of gross rent to cover all rental related expenses. Alternatively, you can deduct actual expenses, if they are greater, but you will need to provide incontrovertible proof those expenses are genuine and essential. If you import any rental income before 30 June, you will need to file an interim report hence two tax returns per year. If at all possible, wait until after 30 June before remitting rental income to Thailand.

I feel we should make up and become friends and discuss tax like grown up professionals, what say you, I promise not to mention the war, how's about it?

You lost that fight the moment you played the, don't you know who I am/what I do card.

Ditto.

Let me leave you with these thoughts. Concentrate on this year, the return next January and the things you know are certain. Set aside the scaremongering and panic of what could happen next year because they may not happen at all, or at least not as currently thought. Look beyond or ignore the knee jerk responses of some posters, the unfounded worry alone will do more damage than they are worth. I rate the chances of this being fully implemented by January next year, as very low.

Mike has withdrawn from the forum entirely, in part because of the toxic scaremongering surrounding the latest announcement from the revenue director which has been blown out of all proportion and can't be reigned on. The herd is at full gallop.

Sorry but I have now left the forum I just popped in to pick my mail, I'm sure somebody else will help you.

As a broad brush statement, that is correct. However, the detail is a little more complex than that because it means invoking a DTA, which very few people have done before, so few people understand how they work, including TRD staff! The biggest problem with many is the perception that Thailand will tax money that has already been taxed and many people can't see past that.

Eligibility for decent quality, "almost free", health care requires membership of the social security program, which costs around 500 baht per month, most expats are unlikely to want to use the 30 baht scheme. Membership of the social security program requires you to have been employed in Thailand, not necessarily to have paid taxes. Indeed, many members of that program don't earn enough to pay tax yet they do pay their social security membership, because of the benefits it brings. It's therefore difficult to make the connection between the new tax rule where some foreigners pay Thai tax, and membership of a health care program for which they have never paid any dues and most are are ineligible.

Inserted a Table of Contents into the document.

Tax Exemptions Deductions and Allowances are known as TEDA, they vary from person to person based on their profile and circumstances. I've linked a copy of the tax guide below, you should read it. You are entitled to a 60k Personal Allowance and also a 60k Personal Allowance for your wife, assuming she doesn't work and you file jointly. Further TEDA exist for children, health insurance, life insurance premiums, investments etc etc. The first 150k of assessable income is zero rated for tax so at a minimum, you are entitled to 210k but it may be more, only you will know.

Tax residency requires 180 days in country. If you were to take 183 days outside Thailand and remit your dividends and CG to Thailand, in that year, there is no tax to pay. That's hardly being raked over the coals. Tax paid on dividends in the home country can be used to offsets any Thai tax....didn't I just tell you all of that a few hours ago!