Jump to content

The Cyclist

Advanced Member
  • Posts

    2,136
  • Joined

  • Last visited

Everything posted by The Cyclist

  1. I have no intention of selling my UK house. I might need it if Thailand does make a move towards global taxation. The house in Thailand will become a 5 month holiday home.
  2. Prior to 01 Jan 2024, I agree The RD now knows every foreigner that holds a Thai bank account. Thai banks have to report on them to the RD every year.
  3. I'm not getting into that debate again The word exempted is open to interpretation ( And at this stage is not clear. Does it mean exempt Thai Income Tax Or does it mean exempt filing a tax return if you are a Thai Tax Resident. I believe it means Exempt Thai Income tax. Others believe it is exempt filing a tax return.
  4. Every foreign account in Thailand is subject to CRS reporting. It is the account, in a CRS Country that matters, not the Nationality of the account holder. Some of you Americans are nowhere near as speshul as you seem to think you are.
  5. Not quite true. Those that move to Thailand do not get an annual uplift, whilst those that move to the Philipines do. Something to do with reciprocal agreements, that I have never looked into. I'm still working on the basis that I will not get a State Pension due to it becoming means tested between now and me reaching claiming age.
  6. No worries for me. It will be a PND 91, 2 pages of the UK DTA and copies of my P60's. It will then be up to the RD Office to do as they please. Something else you have difficulty in grasping, I couldn't care less, whatever route the RD Office wants to go down.
  7. No its not the case, with the exception of possibly some UK pensioners that are surviving only a State Pension. Which oddly enough, is assessable income, but probably falls below the level where tax becomes payable. The other oddity with the UK State Pension ( In the majority of cases ) is that it not taxable in the UK, so there is no tax credit available.
  8. And that is where we disagree. Section 40 ( 1 ) says Pensions are assessable income. Assessable does not mean taxable. You seem to have a severe issue grasping that point.
  9. That hypothetical billionaire could have old bank accounts like me, that do not pay any interest.
  10. No idea Thai DL? Bank statement with your name and address ? Phone / Internet bill with your name and address ? Failing that, you can get a copy of your divorce papers sent from the UK, for a fee of about £25 plus postage.
  11. Not a law that states " Pensioners " I think the Law states something like " Aquire a TIN within 30 days of having assessable income " Section 41 of the Revenue code applies. Which then directs you to Section 40 for the 8 Categories of " Assessable income. As this leaflet explains https://www.rd.go.th/fileadmin/user_upload/lorkhor/newspr/2024/FOREIGNERS_PAY_TAX2024.pdf
  12. Just a guess on my part. The Revenue Code in Thai Language is the " Master Copy and bible " English translations are for information only and in any dispute resolution, the Thai language copy will be the final arbiter. Just like Thai Courts, only Thai language is used. So, I doubt very much that we will ever get a Revenue Official making statements in the English Language. Play safe, tax resident and remit income from 01 Jan 2024, try to file and be guided by your local tax office. Whats the worst that can happen ? You might have to pay a few baht in tax, if you are unlucky. Better than getting dragged over the coals at a later date.
  13. Correct, You as an Individual ( Even an American Individual ) remitting money into a CRS Country on the other hand, is a different story.
  14. 950 Sub Postmasters will identify why official Court Records are a pile of crap. That is the 950 that have just been pardoned and are awaiting compensation. All the people involved in the tainted blood scandal will tell you why official records are a pile of crap. The 10's of 1000's involved in the rape gangs scandals will also tell you how official records are a pile of crap. You have never been in the UK, have you ?
  15. It is not a major story in Thai news circles, because it does not affect the vast majority of Thai's. It only affects Thai's that remit income into Thailand from overseas. Given that the vast majority of Thais affected are rich, super rich and Politicians, it makes you wonder why Thailand enacted it, in the 1st place. * There will be some Thais outside those 3 that are contracting elsewhere in the World.
  16. New video from Benjamin I agree with Benjamin, that Thailand might be better having another look, and it would probably be in Thailands best interest to withdraw from anything OECD. Where I disagree with Mr Hart, Trump withdrawing from the OECD's Global Minimum Taxation, will make any difference to American retiree expats ( Unless they also happen to run a Multinational Company ) OECD's Global Minimum Taxation covers Multinational Companies, not retiree, tax residents of Thailand.
  17. Yes, it seems pretty clear to me. If you are going to remit a large amount of money, remit it in a year you deliberately make yourself a non Resident for tax purposes of Thailand.
  18. Could you elucidate on what Laws were broken by the Farmers, who went through the due process for such events, by registering it with the Police ?
  19. Which is why I am thinking exempt from taxation. Not exempt from tax filing. Somebody is pretty vexxed that they might have to file a tax return. Whereas I couldn't care less, paperwork complete, ready to go when either an updated form arrives or taking myself to the Revenue Office.
  20. I don't care what is called, I asked a question about your LTR. Do you file a PND 95 and why would you think others should not also file. Your attitude just does not make sense, unless of course........
  21. And as I asked you yesterday, what exempt income was he talking about. My money is on the exempt income listed here https://www.rd.go.th/english/37749.html Or do you have something concrete that says he was talking about something else ?
×
×
  • Create New...