ukrules

Does this mean that a foreign currency account is kind of classed as an off shore type account? What I mean is - lets say I remit a bunch of money into a USD account and only make monthly transfers into Baht as I need them - are they going to tax every cent deposited into the USD account regardless of whether I actually change it into Baht or not?

No, it's 14 days before or 7 days after if you do it in person. Otherwise 2000 Baht fine is the norm - but that might vary depending on where you are. I wouldn't be rushing down there too quickly, the fine will be the same even if you leave it until the next time it's due - I did that once and they didn't seem to care. I forgot to do it so I waited until the next 90 days were done - 2000 Baht fine.

Ok, doesn't sounds too bad, not a full inspection where they check your clothes storage, toiletries and sleeping arrangements like they do with a marriage extension.

What exactly do they do on one of these visits? Do they look around every room in the house or just sit there like idiots. With tha marriage extension I can see some use to ensure you're married but that's a bit over the top, for you however - once you open the door and they see you have control of the house I can't really see what else they would need to see.

Is it really illegal though, I know there's a sign but that's just a printed piece of plastic? I was in a bakery in a large Hua Hin mall and took a couple of photos of the bread rolls so I could remember their size and the price and some woman who worked there came over waving me off and pointing at the 'no photos' sign. I ignored her and her stupid sign.

This is why they don't want people videoing them. We should all video them and expose this kind of behaviour.

If they were 10 years ago then nobody cares. If they were very recent then it's going to be different. So it's all about the timing.

Quite possible although I couldn't be bothered to read the entire thread just in case I missed it.

I'm owed an amount of money from an ongoing bankruptcy in Japan. Now this is money from about 10 years ago, it's around 1.5 million Baht at the moment, it was far more but the JPY has devalued considerably over the years. Lets say that this Baht doesn't arrive in my account until March 2024 - it's definitely older money and it's not recent profit or recent earnings in any way but it's not been taxed at all which was some time in 2013 so we're going back more than 10 years by the time I get it back. I believe it won't be subject to tax as it's effectively been held in limbo by the Japanese Government bureaucracy for the last 10 years and will be considered 'previous money' under the more recent amendment which stated nothing from before Jan 1, 2024 will be taxed. But it will almost certainly be remitted in 2024. Any thoughts? I will of course consult a tax advisor at some point during next year when things are clearer after the wire transfer arrives in my account. I will probably be in Thailand for more than 180 days in 2024 and I was in Thailand for more than 180 days every year for about the last 15 years. This amount alone will keep me going for more than a year without needing to remit any additional funds which leaves me with a problem of where to 'park' all the other money I receive each month but I'll figure that out later.

Did they kick her out or not I wonder?

Someone already linked you one of these companies but the website is in Thai https://www.atlrecovery.net/

Full story link is wrong, goes to the 'new light story'...

It is complete nonsense isn't it. If you're drunk then the only place to sober up before driving is a hotel where you get a full nights sleep. But most people will get tuk-tuks or some kind of taxi type transport and be on their way home.

Yes, what do you think all the fuss is about?

Of course it is - that's how it works all over the world. It's refering to money inside Thailand that's already been taxed.

You know, you can always pay a tax bill if needed, I'm sure it won't be a massive burden for a year or two. Things can be arranged to minimise tax in due course once the new rules if any are applied. For example, I will be sending much less money each month from January, if I then need to file a tax return I'll pay the 20k Baht in tax, no big deal. But I will cut my remittances in half to get to this level. Their plans to attempt to tax all global income in the future is the real potential problem here - this current situation is nothing compared to that one which may be a couple of years down the road.

I must admit I generally pay absolutely no attention to 'other people' when I'm going about my day to day business. If they speak to me then I am receptive but apart from that they might as well not exist, and sometimes I'm not convinced they do exist

Might I ask who?

I find it odd that you should have to prove retirement, if you're over 50 then you should qualify They're making things up aren't they

This is my take on it as well, it was on the Thai TV early morning news a couple of days back I told the Mrs she's probably just a Chinese cop / spy making problems. Remember Thailand is on the list of prohibited countries to which Chinese are very much discouraged (not quite banned though) from traveling to. What is she doing here? How did she get here? There's more to this than meets the eye.

I used the tax calculator here : https://www.uobam.co.th/en/tax-calculation Note that I applied no additional allowances and am single - some people will qualify for age based allowances (quite a bit I think) but I'm only about 50 years old.

You're right - there's no clear statement which makes all our potential scenarios quite redundant unitl they do clarify. People won't expose themselves to such risks until there's clarity.

It's all foreign income and transactions can happen at any time of my choosing - for example, while I'm out of the country and by definition they would be done offshore. But for sure I would consult with an accountant before making any such move and let the dust settle after any law changes before doing so. This is something I will not take lightly, without clarity on the issue no money is coming to Thailand other than day to day expenses from Jan 1, 2024. No clarification = no remittance.

Indeed, this was alarming and would possibly catch a lot of people out if implemented, especially people who bought a house as a primary residence say 20 to 30 years ago for next to nothing compared to the current 'value' and sell it now to fund their retirement. There's zero tax on that in the UK as it's the house you lived in all your life as opposed to an investment property. Nobody will want to pay any tax on that money in Thailand so if they know about it they simply will not come - unless they plan it as follows they might fall into a trap and be liable : I might bring a reasonably large amount of money into Thailand at some point in the next couple of years. Lets say 10 million Baht although it could be more. In order to do this I would need to sell some of my long term holdings which date back at least a decade, this will be a very profitable sale and there will be no tax paid anywhere. For me the only way to ensure zero tax is paid on this would be to be non resident (<180 days) in Thailand during the year that I do the following : 1 - Sell the assets to get the 10 million Baht equivalent in USD 2 - Remit it to Thailand via wire transfer All while being non resident - the key part is that you need to be non resident in both the year when you sell it (realise the profit) and the year when you remit it, with a little planning, two 90 day trips plus a long weekend somewhere else I could do that in one year and proving it would be simple. Passport stamps would prove non residence and asset sale / wire transfer records would prove profit made and remitted while non resident during the same year. Now that's a lot of hassle but it would save a whole chunk of tax. It is tax avoidance (a healthy practice for any man), not evasion. I think I got that right. Another concern is that they might want to tax the rest of my money made outside of Thailand as they are looking to tax global income in the future - which sounds like a pipedream and I will be very surprised if it ever happens, but if it does then that is going to be a problem as I'm definitely never going to stop making money outside of Thailand and I'm not going to pay them any tax on that if I don't bring it here - not a chance. I will incorporate to avoid that and nothing will belong to me if they take this step. Also I don't mind paying some tax on the money I use for day to day living but I won't be sending 100k Baht a month any more, in the future that would be reduced to 50k a month resulting in a negligible (21,500 Baht) tax bill for me.

These people want to tax our worldwide income, they're a laughing stock.