Mike Lister

Go argue with somebody else, I'm not interested..

The Spanish Inquisition can continue in my absence, enjoy yourselves.

Nice weather we're having at present.

Since when is it necessary for us to interpret unwritten Thai Revenue Code rules and instruct members with what we think! It's not going to happen.

I'd like to win the lottery but that's not going to happen either!

It's all you're going to get so enjoy it best you can. If roles were reversed, you would demand privacy, I know this. No more posts from me in this matter, if you're so bored and got nothing better to do, go ahead and knock yourselves out.

Done (on the master copy for next update)

The Revenue Code does not say that. If members wish to interpret that not filing a return is OK, just because no taxes are due and there is no penalty, that is their prerogative.

As I said, it involved a third party, I think that's all that needs to be said on this matter and that privacy should be respected.

Whilst working as a Moderator, yes, an issue arose that required us to communicate with a third party issue in Thai.

Artificial sweeteners in coke and other dinks need caution, the body doesn't know what to do with it so it gets stored on the liver as a form of fat....fatty liver ensues.

You, were due one.

I am on Day 26 of my weight loss program, I have lost exactly 4 kgs since I started, as of my morning weigh in today. I took a machete to my diet and salvaged the small parts I needed to retain. Breakfast - six pieces of fresh fruit Lunch - one healthy sandwich, or grilled chicken and vegetables (small portion), plus V. small portion rice. Dinner - complex salad. No food after 6pm No snacks apart from water and veggies NOTHING else Run 5 miles every morning. I've now lost 5% of my body weight, my target is 10%. I feel wonderful

I can vouch for Bob's statement, his written and spoken Thai is of a very high standard.

Which is exactly what everyone else has said!

Interesting and useful, thanks.

Seems like an oldies bashing thread to me.....look at me, I'm fluent and have been here fraction of the time you have. Wow, aren't you good.

Somebody, somewhere, knows the answers to these questions, we just need to figure who it is. It may well be that the rules are all clearly documented in the Thai (master) copy of the Revenue Code and we don't know. It would be interesting to get the perspective of a Thai CPA into these discussions, somebody who really understood the whole picture and not merely trying to get new business. Do Thai CPA's know more than we do at this stage, I wonder sometimes! Knowledge is everything here.

There is gradual change over time and then there is step change, this potentially is step change.

The documented TRD rules on remittances from overseas remain vague in many areas, especially those on CG. The majority of the tax code deals with domestic tax, tax on foreign income is relatively new hence the shortage of documentation. Apportionment of CG however is well understood as a principle of international taxation and is widely used.

OVERVIEW OF THE TAX LAW 3) Thai tax laws require Foreigners who reside in Thailand for one or more periods, with at least 180 days in one tax calendar year and who receive income from inside or outside Thailand via: a) Income from employment (wages, salaries, remuneration, etc.) assessable under Section 40 of the Revenue Code; b) Income from business operations is assessable under Section 40. c) Passive or property income (interest, dividends, rental income, goodwill, pension etc.) based on Article 41 paragraph 2 of the Revenue Code. ….…to assess their income for Thai tax and file a tax return, providing the assessable income threshold has been exceeded. Thai-sourced income is always taxable in Thailand, wherever it is received and regardless of tax residence status. Foreign sourced income is subject to remittance, tax residency and other factors such as terms of a DTA.

Here's another one that we can either agree or comment on: INCOME FOR REAL ESTATE PURCHASE 1) The Thai Revenue Code does not consider the purpose of the funds that are imported, only whether the funds are assessable or not. For example, funds imported to buy real estate will be addressed in the same way that imported funds for any purpose will be, there's nothing special about the fact those funds are buying property versus anything else. Note: it seems improbable that the Thai Revenue would wish to constrain or damage the Thai property market by appearing to tax remitted funds that are intended to purchase real estate here but we don’t know currently how this aspect will be addressed. One potential solution might require property buyers to leave their funds invested in real estate, for a minimum period, after which the funds will be considered free of PIT.

I'm going to update the Simple Guide to correct two problems, the following will now appear: At the end of Gift Tax....I have removed by previous opinion and set out what is known: Note: Because Gift Tax is a domain of the wealthy and depends to a large extent on local practise, 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. 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. Issues arise here when the receiver is the spouse of the gifter and under marital law, the gift is regarded as conjugal property. Until this becomes more clear, it is critical that anyone wishing to use Gift Tax, seeks professional advice. and, OVERVIEW OF THE TAX LAW 3) Thai tax laws require Foreigners who reside in Thailand for one or more periods, with at least 180 days in one tax calendar year and who receive income from inside or outside Thailand via: a) Income from employment (wages, salaries, remuneration, etc.) assessable under Section 40 of the Revenue Code; b) Income from business operations is assessable under Section 40. c) Passive or property income (interest, dividends, rental income, goodwill, pension etc.) based on Article 41 paragraph 2 of the Revenue Code. ….…to assess their income for Thai tax and file a tax return, providing the assessable income threshold has been exceeded.

Yes, it is.

I agree, I think it is.