ukrules

The reactions of the morons are completely irrelevant and best ignored.

Nice of her to let the elected officials what she's decided to do, even if it was a surprise for them 🤣

If they want pure social harmony then they have to give up the tourist money. Lets face it, the government want (need) the money. With mass tourism comes certain issues which you simply have to deal with - or ban them all from coming. It's a trade off

As with many things in life - it's a trade off. They want tourism money, well that brings all sorts of issues. Anywhere that becomes extremely popular is doomed to go down the road of 'Benidorm' in Spain.

Were they really working though? I don't think so

This is in theory the rule as I understand it. Plenty of people suggest hedging on this though and being non resident during both years (year of sale and year of remittance) absolutely ensures that no tax liability in Thailand. In this case if the house is a main pace of residence in the UK - ir - you actually lived there then sold it then there is no capital gains tax due, but if it was rented out over the years then that changes and I'm sure the rules get complex if that applies....

Hardly smuggling - they are kind of designed for global usage and allow global travel but it is time limited when away from home. Think of private planes and yachts.

I heard you can bring one from the US or Europe over and use it for up to 2 months 'out of region', not sure how accurate that is - but I would imagine it needs registering and using in the home country before being turned on in a 'roaming' region. I don't have one at this stage.

This is why we can't have nice things. I heard Starlink will work outside of its registered home country including in and around Asia for up to 2 months before the terminal must 'return home' and service stops. Certain countries go to extraordinary lengths to prevent any use of satellite communication, occasionally arresting people as spies simply due to having an emergency satellite phone for example. The countries that do this are not good countries.

Very true - it is an important issue when tax planning, especially if you're an Aussie - I watch and read a lot about taxation and international residencies over the years as it's something I've been keeping my eye on - boring I know but kind of interesting. I was quite alarmed by something I saw recently on youtube that mentions it can take 3 years to lose Aussie tax residency - after you leave! What a nightmare, I think Germany has something similar and you have to prove residency elsewhere as well. Coming from the UK there is none of this nonsense. Small blessings I guess.....

Indeed, it is significant and I hope this guy sues this developer and gets every Baht back.

Oh really? Where did you get this information from? I believe you're referring to the mythical 15% withholding tax that while discussed was not implemented on any Thai exchange - has something changed since I looked it up last year?

Sounds like a scam - who is this 'business broker' and has it been 'red flagged' by their bank or the 'broker' themselves?

Your wife would have already paid tax on this money so it's not really being generous is it?

Thailand taxes capital gains but they do not have what we might refer to as a 'capital gains tax' back home - something that is normally taxed at different rates to personal income tax. It's all personal income tax in Thailand. Their system is VERY primitive and not suited to the modern wider financial world. In any competition they will lose as the more money you have (if remitted) the more you will pay - and it's more than you would pay elsewhere which can be reduced to zero with careful planning and a little luck depending on where you come from and where else you live each year.

It's in US Dollars on kraken.com - the US version of Kraken, so the wire is in USD and gets converted to whatever currency the recipient account is in - in this case Baht when I sent some funds over last year.

Indeed, look at this for one of my January orders from Amazon : I ordered a couple of pairs of jeans and some shoes.

I suspect that this is the beginning of some kind of scam. Beware.

For now nothing has changed, they must be taking a massive hit on remittances All those people who sent tens of millions last year likely sent nothing this year. I'm referring to the January 1st depositors who took full advantage of the previous year earnings rule. They have a full months data for January and I'll bet the difference between every year before now and 2025 is absolutely massive.

I used the Thai bank account - Kasikorn to prove my address here in Thailand - that's it. I have a basic savings account with the address in English - the kind of thing you could pop into the bank and open up in 20 minutes anywhere in the country. When you want to withdraw funds via SWIFT it goes by a third party service provider and you need to enter any bank they will deal with. So I had to enter the Thai bank account details manually myself in order to make a withdrawal, you can add more than one recipient bank account so long as 'Bank Frick' will support the recipient bank and it does not matter which country the account is in - but you are not allowed to alter the recipient name at all so you're only allowed to make payments to your own accounts - apart from that I don't think they care where the bank is. I attempted to add an ABA Bank account but it didn't work - they don't accept ABA (Cambodia) for sending wires. Kasikorn is good and I would think most UK banks would be accepted but you never know - the only way to find out is to test it. I have had reports of banks creating issues with money being received from any crypto exchange in the past so I have never done a single transaction to my UK bank.

Nonsense, they changed the way it works back in the 80s - now they reversed that change - and they did it with a 'memo'. It was a memo that introduced the 'previous years income' tax exemption and it was a memo that revoked it.

They're wrong if they are saying this, the taxable event and the date it happens is all that matters.

Is it unclear? If you sell shares into cash in a brokerage account that is a taxable event even if you never withdraw the resulting funds. The taxable event is selling the shares, it's then currency - the type of account the currency is sitting in is mere window dressing..... Lets say you did this in the US, you're getting taxed every time you sell those shares if there's any profit, same everywhere. Except Thailand ironically as they don't appear to tax SET trades...

You know after reading about these people for years I still have no idea which one is bad or what they're supposed to have done that's so bad apart from one raid which apparently came to nothing. Are they all rotten?

You know the NSA outsourced this work to the UK don't you? It's no coincidence the UK is demanding this, why do you think they're demanding this? I am almost certain that this entire thing is driven by the US, the best customer GCHQ ever had. They've been trying to get this kind of thing in for years. They can't do it in the US but it can be done in the UK which is conveniently one of the '5 eyes'.