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Everything posted by ukrules
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Thai People Are Not The Target Of Hamas: Ministry
ukrules replied to webfact's topic in Thailand News
I really wonder how good their Thai was, was it perfect? -
Of course not, they're not stupid. This gift thing is obviously related to money that's already been taxed inside the country. If you send 10 million to your girlfriend she will have to pay tax on it, the same as you would if you send it to your own bank account. Assuming the money is already untaxed elsewhere of course.
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Flash Express denies allegations of staff exodus and warehouse crisis
ukrules replied to webfact's topic in Thailand News
This kind of pressure is created by the huge online shopping behemoths like Shopee Suddenly there's a shift in business from one courier to another and they have double the business they had the week before - with the same number of staff. I've seen it here in Hua Hin, which is a smaller place and they do seem to be handling it at the moment However about a month ago franchises of J&T seemed to get at least partially ditched by Shopee, one of the alternatives is Flash. Growing a company too fast often ends badly. -
I think pretty much everyone see it this way. But if the rule changes on Jan 1, 2024 and of course nobody submits a tax return before Jan 1, 2024 then this rule would supposedly be in force before the tax return is due - just something to think about as we remember that it's all about how they interpret it. So when they say Jan 1, 2024 - could they be talking about the tax return due between Jan 1 and the end of March 2024?
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This is for the UK from here but widely known : https://www.bdo.co.uk/en-gb/insights/tax/private-client/leaving-the-uk To summarise - if you don't go to the UK then you're automatically non resident if you spend less than 15 days per year there or 45 in a 3 year period. For me, I've spend about 1 week there in the last 15 years and that was about 10 years ago. You still have to pay tax on UK earnings though even as a non resident - for example - if you're renting some houses out, etc. Edit: I don't think this is a new thing since the UK left the EU but I'm not sure.
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American Tourist Arrested for Stabbing Incident in Chiang Mai
ukrules replied to webfact's topic in Chiang Mai News
I'm confused, did one of the victims die or not? -
Prime Minister Srettha should listen to the experts on cash handout
ukrules replied to webfact's topic in Thailand News
VAT will inevitably go up, which government does it is up for debate. They're in the debt building stage now though and it's all borrowed money. -
Public Warned Not To Buy Counterfeit Flu Medicine Amid Severe Outbreak
ukrules replied to webfact's topic in Thailand News
What is flu medication? Are we talking antivirals like Tamiflu or just remedies? -
Torsak Sukvimol: The controversial rise of Thailand’s new police chief
ukrules replied to snoop1130's topic in Thailand News
What? How? Why? What did he do before he was 33? -
Oh yes, I've looked into this in some detail. Using the UOB tax calculator if you put in 50k Baht a month (600k gross / year) you end up with a tax amount of 21,500 a year for both me and the Mrs. Same amount in total, 41k total tax As there are zero deductions due to the completely untaxed status of my funds then I suspect it will be quite a simple form to fill out.
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Yes, I know how it works, I've been alive for over 50 years. When you add up all those monthly payments that's what you put on the form for remittance. Your point? I worked out that sending just 50k a month to an account results in a very small tax amount per year - like 20k per person - I can live with that.
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Hence the use of 'up to 35% more' - I send 100k Baht a month so 1.2 Million Baht a year as an absolute minimum. This year I'm upgrading my Elite visa so that's an extra 500k Baht on top of this which is sitting in my account. If I wanted to buy something like a house or car then I would need to send extra - that extra will be taxed at the highest rate. I have 2 options at that stage, structure some kind of loan to get the money in, move to some other country for 6.5 months or just don't bother. Right now I'm just not going to bother for a few years and lets see where the chips fall. Also I'm not going to bring in that 100k a month, it will half starting January - I'll send the rest to the Mrs from the foreign bank and use up her allowance too. I pay zero tax anywhere elso so for me it's simple, double tax treaties simply don't apply to me. Also one other thing that most people seem not to have noticed, once you're resident in a country it can be hard to lose that status - this doesn't seem to be the case in Thailand at the moment. For example in the UK you need to make a clean break and the rules are long and complex and they even average the number of days present in the country over a few years. To make it so they can't be a UK resident even if they come for you that average needs to be below 15 days a year for 3 years. If we can get away with just going to Cambodia, Hong Kong, Japan, Singapore, etc for 6.5 months then that is a loophole which many super wealthy Thais will use every few years.