
The Cyclist
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Aye, Investors. But as debt servicing costs rise, 2 things happen. 1. Cuts to Public services, and IMHO, certain parts do need drastically cut, but wont happen. 2. Tax rises again,in April. That is before we even consider the impact of a budget that was based on Growth, growth, growth, and growth at best has flatlined, and very likely contracted. The impact f growing unemployment that will start in earnest from April. All in all, its looking more and more like a big steaming pile of horse manure. Then there is 2 compensation black holes that will need to be filled quite soon 1. Tainted blood scandal 2. Post Office scandal. Perhaps someone will be able to inject a little ray of sunshine into the UK, just not seeing where it is coming from.
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Latest rant from Mr Hart I fully understand why he is ranting, and it will also tell you the direction of travel, which is being steered from outside Thailand. The First step in the process has been undertaken, by Thailand signing up to the OECD's CRS. So Mr Hartnis correct by stating that no new domestic laws have been implimented, they dont need to be when you join an International agreement. Which is normally then folded into domestic law, or left as a stand alone agreement.
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Did he really ? Have you got a link to that, seeing as you like to ask others for links. Here is the reality from the BBC Note who the head of the CPS was, ultimately responsible for the decision not to proceed with the prosecution. This guy brought the first prosecution He told Starmer, the head of the CPS to wind his neck in and he was prosecuting. https://www.bbc.com/news/articles/cvgn2wvxx5qo Starmer, as the Head of CPS and DPP, did not know that the CPS were prosecuting Sub Postmasters. 2 massive scandals that both Labour and Starmer are neck deep in.
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My apologies, I certainly did miss it. And I'll go a step further and suggest ( because I haven't looked, or even care to look ) that most, if not all, other CRS Countries, also have a Section for Listing / Reporting their Overseas Income. So why people on this thread would think Thailand ( A CRS Country ) would be any different, is quite beyond me.
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You mistook my meaning 😀 Here is the latest UK tax filing doc. Page 2, Item 5, you have to report Foreign Income. https://assets.publishing.service.gov.uk/media/6613fc8a213873b991031b88/SA100_2024.pdf I have a sneaking suspicion that the latest tax forms, pertaining to CRS Countries, most likely, all have sections for reporting Foreign Income. Does the latest Canadian Tax form, have a section for declaring Foreign Income, like the latest UK tax form ?
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This was widely reported in the media a few weeks / months ago. It broke at the same time that someone else called out her time and function at the BoE. It would appear that her CV is an understatement in embellishment. Which would get normal people sacked on the spot.
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And ? It takes a single day to print off a document, fill it in and take it to a tax office. There is still 85% of tax filing season left to do this. Although I cannot vouch for the dates that the 2017 - 23 tax forms were uploaded to the above link. It would be fair to say that they were uploaded in time to prinf off, fill in and file at a tax office. What is staring me in the face, is that new updated forms as promised by the RD, have not yet been uploaded. Which potentially tells me that there is significant changes over the 2023 forms. There is enough information by KPMG, Mazars, PwC and various others that are all saying the same thing, from 01 Jan 2024, things have changed with regards to taxation. So what happened, or more importantly, did not happen, in the past is of no consequence, What matters is what happens going forward. And just like the UK, I am siding towards reporting foreign income on a tax return. @oldcpu is familiar with the Canadian and German taxation system, perhaps he would be kind enough to dig into the latest tax forms from those Countries and tell us all what they say about Foreign income. Ditto anyone else from other EOCD / CRS countries. And I think it will be a safe bet that they all have sections for reporting Foreign Income. Just to reiterate, this is International. Thailand agreed to it by signing up to CRS. It goes beyond Thai Domestic Tax Policy.
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2024 UK SA 100 https://assets.publishing.service.gov.uk/media/6613fc8a213873b991031b88/SA100_2024.pdf Small part on Foreign income. Declare anything over £1000. No mention of DTA's etc. The supplementary page is where you would fill in the DTA stuff. Do you think that the updated thai tax return could have something similar, or is that ' unpossible ' ?
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The honour system is for the Internal Thai domestic tax policy. The honour system does not work on the International stage. Here is 4 misconceptions about DTA's, the first 2 are especially pertinent to the thread https://chasebuchanan.com/double-taxation-agreements-with-the-uk/ See link above from the Guardian on declaring Foreign income. The UK has many DTA's with other Countries, the message in the Guardian article, you must report / file your foreign income. Too many are looking at this from a tax / Dta / Thai internal tax policy point of view. It needs to be looked at from an International perspective. I have already posted about low value accounts ( Most of us ) becoming reportable in Thailand from Jan 2024. If our foreign remittances are not reported. Thailand cannot carry out its duties under CRS, namely 1. Tax evasion compliance. - Is this remittance engaged in tax evasion. 2. Tax obligation compliance - Has this remittance paid the tax that it should have paid. International stage is where the answers are to be found, not the thai domestic revenue code or 40 year old DTA's ( although they are still in effect )
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On the UK Gov website there is a long list of Government pensions listed in alphabetical order ( I think ) The First on the list is Armed Forces Pensions and on it goes. A link to it has already been posted in one of the threads. All these Pensions ( above the 12570 UK threshold ) are taxed at source. A UK Citizen will pay tax on this, in the UK, until the day they die. A Dual National, can change tax regimes, only if they return to their Country of origin.