Mike Lister

It must be, I have aa 2023 Revo and it's in English.

The following link will start to give you some idea of the contents of the CPI basket. https://www.ceicdata.com/en/thailand/consumer-price-index-2007100-weights-annual/cpi-weights-clothing--footwears-cf

A few things: Us SSc is tax exempt by treaty, it says so in the document Savings earned before 31 December 23 are tax exempt also, the document says that. A mic of pension and savings in the same account represent commingled accounts, there's a section in the document on that. There is no need to provide documentation regarding the source of your funds, in order to file a Thai tax return, only of asked for later.

A further update to the Gift tax para 76/77 76) Additional points on this subject are: a) Funds that are gifted, must be for the use of the person to whom they are gifted. b) Gifts can be revoked later and reclaimed, under specific circumstances, such as if the receiver of the gift defames the Gifter or fails to take care of their serious medical needs. c) Gifts to a spouse become Sin Suan Tua or the sole property of the spouse, under marital law the gift is not regarded as conjugal property. d) Gifts made outside Thailand appear to be safe. e) The Gift must be formally documented and recorded, the more documentation the better. f) No more than THB 20 mill should be remitted to Thailand per year, unless 5% Gift Tax is paid on the balance. 77) Until the circumstances surrounding Gift Tax and all it entails, becomes more clear,, it is critical that anyone wishing to use Gift Tax, seeks professional advice.Note: Because Gift Tax is predominantly a domain of the wealthy and depends to a large extent on local practice, there is a shortage of confirmed information on this subject. One field of thought is that Gift Tax cannot be used to escape Thai tax by Gifting untaxed money from overseas. On the other hand, many Western countries, including the UK, do not tax gifts from overseas. Members wishing to exercise this option should seek qualified advice before using this option to Gift untaxed funds.

A further update to the Gift tax para 77 76) Additional points on this subject are: a) Funds that are gifted, must be for the use of the person to whom they are gifted. b) Gifts can be revoked later and reclaimed, under specific circumstances, such as if the receiver of the gift defames the Gifter or fails to take care of their serious medical needs. c) Gifts to a spouse become Sin Suan Tua or the sole property of the spouse, under marital law the gift is not regarded as conjugal property. d) Gifts made outside Thailand appear to be safe. e) The Gift must be formally documented and recorded, the more documentation the better. f) No more than THB 20 mill should be remitted to Thailand per year, unless 5% Gift Tax is paid on the balance. 77) Until the circumstances surrounding Gift Tax and all it entails, becomes more clear,, it is critical that anyone wishing to use Gift Tax, seeks professional advice.Note: Because Gift Tax is predominantly a domain of the wealthy and depends to a large extent on local practice, there is a shortage of confirmed information on this subject. One field of thought is that Gift Tax cannot be used to escape Thai tax by Gifting untaxed money from overseas. On the other hand, many Western countries, including the UK, do not tax gifts from overseas. Members wishing to exercise this option should seek qualified advice before using this option to Gift untaxed funds.

You don't say what the source of that income is that you transfer, that's the important part. I suggest you read the document linked below.

And my point is that the balance at 12/31/23 is what you can transfer, not a satang more,

Yes! 🙂 Let's regain some perspective shall we. None of us involved in this project are experts in Thai tax, our mission here is to try and unravel as much of the mystery as possible and pass along our findings to members as information for them to consider. Increasingly, members questions become more and more complex which in itself is a good thing, because it means everyone is starting to understand the issues and think about the different scenarios, just as you have done. There comes a point however where, even with the best will in the world, trying to answer complex questions becomes futile, it's not as though there is a single reference maula we can go to. I could probably sit and study the question and come up with what I think is a logical answer but the chances it would be correct are not great. Anyway, there are enough other members who get their kicks from guessing and hypothesis without me adding to the fray. Just one thing, caveat emptor!

Agreed. I'll add parts of that to the notes.

I have updated the Gift Tax para 77 to reflect Sin Suan Tua: 77) Two additional points on this subject are: 1) Funds that are gifted, must be for the use of the person to whom they are gifted. 2) Gifts can be revoked later and reclaimed, under specific circumstances, such as if the receiver of the gift defames the Gifter or fails to take care of their serious medical needs. However, Gifts to a spouse become Sin Suan Tua or the sole property of the spouse, under marital law the gift is not regarded as conjugal property. Until the circumstances surrounding Gift Tax and all it entails, becomes more clear,, it is critical that anyone wishing to use Gift Tax, seeks professional advice.

I have updated the document to reflect the Sin Suan Tua aspect: 77) Two additional points on this subject are: 1) Funds that are gifted, must be for the use of the person to whom they are gifted. 2) Gifts can be revoked later and reclaimed, under specific circumstances, such as if the receiver of the gift defames the Gifter or fails to take care of their serious medical needs. However, Gifts to a spouse become Sin Suan Tua or the sole property of the spouse, under marital law the gift is not regarded as conjugal property. Until the circumstances surrounding Gift Tax and all it entails, becomes more clear,, it is critical that anyone wishing to use Gift Tax, seeks professional advice.

Correct

The CPI basket of goods that is used to measure inflation contains over 400 items, banana's, mango's and granola bars aren't in there for a reason. The first two because the supply of them in Thailand, outstrips demand for them.

I already said, I declared it! At the airport I went to the red channel and declared it to Customs, they weren't phased by it.

I've brought in over the limit and declared it, I gave the copy of a customs form to my bank but they weren't really interested in it.

What happens is you sign the Customs declaration and retain a copy in case you want to take those funds out again, you have proof they were brought in from overseas.

An off topic post has been removed

The subject is credit cards and banks.

We are awaiting the release of the redesigned tax form in the hope that it allows for this.

It depends on several factors: Is that income Thai tax assessable? The amount of your TEDA Presumably you will use Gift Tax law to transfer to your wife? If so, does the Gift meet the requirements of the law and whether or not the income is assessable.

I suggest you read the following:

A MESSAGE FROM THE MODERATION TEAM - IMPORTANT Until we have a clear answer from a reliable source about Gift Tax, or any other aspect of Thai taxation and assessable income, we will avoid providing any form of guidance to members that can potentially get them into trouble later. If this means we aren't able to conclude on some aspects of Thai tax for many months, so be it. This aspect is now being scrutinised closely from several quarters, our position is very clear, providing no guidance is far better than providing bad guidance. This rush to tell members something/anything, that makes sense to just one person alone, must stop now. Just because we don't know what the law/rules are yet, doesn't mean that no rule/law exists. Not knowing what the official line is, isn't grounds to assume there isn't one and that members can make up their own rules and hand them out as advice. I cannot stress sufficiently how important this is, this is a big deal. From hereon, any post that contravenes the above standards will be removed without further explanation or notice and additional steps taken as necessary. If anyone wishes to discuss this matter, please do so via PM with me or Admin but do not debate it here. Thanks

Two choices: 1) Find/uncover/wait for new relevant information that clarifies what the rules really are, not what you think they are, not what you think they should be. 2) Don't discuss it. What is not a choice is advising members not to declare income on their tax return, because it might be this or that or something else that you think. Are we on the same wavelength yet?

Then I'd go talk to somebody at Kasi if I were you, branches are not allowed to levy charges based on what they decide on any give day.

How about we don't do that, as we have said previously that we wont, in similar scenarios, we DONT offer advice or advise best scenarios, end of. Suggesting a way to evade tax and then saying you are not suggesting a way to evade tax, doesn't get you off the hook. That's strike number two in this thread....for the benefit of those with short memories and short attention spans, let me post what I wrote at the outset, for the third and last time. "If everyone promises to behave and not cross the line or play word games, we can discuss ways to legally mitigate/reduce/avoid tax. If however the discussions start to go in the wrong direction, not even a portable defibrillator will save it. It is therefore in members best interests to ensure no lines are crossed and ensure the debate is self managed".