Schoggibueb

In my oppinion we could all just calm down and relax a bit. NOTHING has changed so far. Here just a few lines, If you want to read the full text: https://immo-th.com/taxation-of-income-for-foreigners/ The Topic: Taxation of Foreign Income As is well known and the subject of heated debate, the government plans to introduce new rules (beginning in 2024) for the taxation of income earned by foreigners staying in Thailand for more than 180 days and remitted to Thai accounts. The current lack of information has led to frustration and uncertainty among foreign retirees. Today, we aim to address the situation especially for pensioners, as taxation for other foreigners—such as employees, digital nomads, dividend recipients, long-term visa holders, and investors with local income—is already clearly regulated. While the official announcement was made in 2023, there is still no clear guidance from the authorities on how taxpayers should be classified, how much tax should be due or how double taxation agreements shall be taken into account (status October 2024). This delay is largely due to the fact that the relevant government agencies are still reviewing the details and procedures. ... ----- Rumors and Misinformation In recent months, numerous articles, YouTube videos, and even TV reports in Thailand and abroad have spread misinformation, adding to the confusion. ... How much tax will I need to pay as a pensioner in Thailand if we are required to file tax returns in the future? Scenario 1: Your monthly pension is deposited into your account in your home country, where it may be subject to local tax regulations. If you withdraw funds from this account using your home country credit card at an ATM in Thailand or transfer them online to your Thai account, specifying that they are for “living expenses,” no taxes will be owed under current regulations. Tax treaties between Thailand and other countries also apply here and should be reviewed. In case of inquiries from Thai authorities, you can demonstrate that your funds are “old money” earned before January 1, 2024, by providing bank statements, tax returns, inheritance documents, etc., translated into English and certified by your embassy. Though this process requires effort, it will be acceptable to Thai authorities. However, if this approach is not feasible, or less advantageous from a tax perspective, you will need to declare your pension income in your tax return and pay taxes in the following year, assuming you have a TIN. Scenario 2 will provide a more detailed example of how tax burdens might be calculated. Scenario 2: You receive your pension directly into your bank account in Thailand. The annual pension amount is converted into Thai Baht using a pension certificate and certified by your embassy. You will use Thai tax return form number 91, which is in Thai script and typically requires assistance to complete. After entering your annual income (in this case, your pension), you first deduct allowable expenses, just like in your home country’s tax return process. Example Calculation Based on Euros for Taxation in Thailand: The pensioner receives a net income of €1,100 per month, which is approximately 42,000 THB/month, or around 504,000 THB/year. ..... In summary, a foreign taxpayer with a monthly pension income of €1,100, or €13,200 per year (equivalent to 504,000 THB), would pay approximately 200 Thai Baht in taxes. Enjoy life, relax and take it easy.

I'm not an expert either, just a few thoughts about your topic and my very personal oppinion... - As alreday mentioned above, 1hour running time isn't enough. Make your test for 24 hours. Seperatly, same conditions. - Are both compressors outside shaded the same way? If you can choose a location for the compressor, try to place it on a shady place insted of having it standing in the sun. Makes a difference in power consumption. - Your display on your mobile cant catch the peaks when a compressor starts. Newer compressors could maybe run / be controlled by frequency modulation, but I'm not sure if this is used for AC's. -

To keep it simple (english isn't my mothers tounge) as also this is NOT a financial advice... "Diversification is a strategy that mixes a wide variety of investments within a portfolio in an attempt to reduce portfolio risk. Diversification is most often done by investing in different asset classes such as stocks, bonds, real estate, or cryptocurrency." If you want to keep it simple, work only with stable currencies and possibly gold. You can open a additional account (e.g. Wise or maybe also Revolut) for digital banking to hold different (stable) currencies. Transaction costs are much less as with "classic" banks. And you have additional options like to fix a certain amount to exchange automatically to Thai Baht when the exchange rate reaches that point... Opening a digital Bank account costs you nothing (zero!) - except a bit time for the setup. I work now since a half a year with Wise. Reliable and simple to handle. Make first a "test-run" with a small amount. Check also on the net about their reputation etc... BUT: you have no intrest rate. And keep in mind, the statutory deposit guarantee protects €100,000 per deposit or per bank.

Lets see what happens after the 16th of October when BOT has their meeting. The pressure is rising to cut intrest rates.

We know the official announcement from 2023, but to date (as of September 2024) there is no concrete information from the authorities on how taxpayers are recorded, whether and how much taxes are to be paid, how double taxation agreements are taken into account... and what steps need to be taken . Why? The responsible authorities themselves don’t know (yet). This is not an assumption, but is based on the fact that, according to its own statement, the responsible ministry still has to examine the details and procedures. Stay relaxed, it will take a long time until clarity becomes clear. The decision-making processes in Thailand take time and are subject to constant change. Do not do anything, for example to apply for a tax number (TIN) from a tax office. Many foreigners are currently doing this, but they are usually simply turned away. So don't let the media unsettle you. Many reports are based on guesswork and even publish incorrect tax calculation examples. Source: (in German only) immo-th.com/aktuell-einkommensbesteuerung-fur-auslander-in-thailand-german-version/

Hi All Brandnew here, so I'm trying my first step with this post. I really don't really know how much BOT interferes on international currencies vs. THB. I do know that the swiss national bank already had to do this too. But to weaken the CHF... My oppinion is that in general alot of currencies lost in the last days because of the instable political situation in Israel / Iran etc. Big Market players often then try to bring their money to "stable currencies". Example Swiss Franc. Is at the moment almost on its historical peak -> 1.-CHF = 41.46THB on 20th of June 2024). As far as I have read BOT will lower their intrest rates when the US will do so. Possibly that could happen in September. Then the THB will automatically get cheaper too.