ukrules

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.

I had Covid a few months ago, on day 1 I had a mild fever, then it turned into a full on cold type thing (constant runny nose, sneezing, coughing and sore throat) for the next 3 days (notably the fever did not return after day 1) and then it stopped. I had a bit of 'clearing the throat' for about another week, then it was completely gone.

I got an MSI Cubi 5 which I use when I travel, I set it up with a monitor, keyboard and mouse in the hotel. I added an additional 2TB SSD drive to it. Hardly ever use it though.

He almost certainly actually left the country and the immigration officer did it on the way out.

Both!

No joke. The bank does their own appraisal to find out the value. There's a whole licensed industry of certified appraisers / surveyors who do this job. Often the person buying the house will get one done as well, the person selling the house tends to pull a random number out of their a$$ which is why this appraisal industry exists as the numbers often have no basis in reality. It's only worth what either some idiot will pay for it or what a bank will lend and the bank come up with their own numbers and that's all that counts. Unless you're borrowing only a small fraction of the value of a piece of real estates equity then they're getting it appraised.

Banks value every asset themselves and they believe nobody elses numbers. So any information provided is quite literally meaningless What's worth 50 million to one person might be valued at 10 million by the bank and they go with their own internal figures. This is why the case will go nowhere, because it's complete nonsense.

But CRS sends end of year balances and throughput on accounts - that's it. What did you expect CRS to be? Some kind of advanced statement reporting detailing your every transaction

Perhaps, but if you have a cancer diagnosis then getting any kind of travel insurance can be incredibly expensive - even if it's being treated and you just take a short holiday between active treatments assuming you disclose it - if you don't disclose it then it's the same as not having insurance as they will find out.

Not only should all debts be cancelled but the low life scum criminals who offer this type of service should be serving long prison sentences rendering the debt completely unservicable. Anything less than this means the government is partnering up with the illegal businesses.

I would think you have to pay tax regardless of which exchange you use if you're trading and make a profit. I only ever really make purchases on these exchanges in recent years and then send it elsewhere, it will never be used to cash out.

UpBit Thailand works with foreigners. It's foreign owned (Korea) which is likely what makes all the difference.

This is my point, people don't wake up one day and call 911 to rush themselves into hospital for an emergency leukemia diagnosis - it creeps up on you in the background like many cancers, you only notice it when it's already been there for years. The reason I mentioned this earlier is because I suspect the original story is full of lies and half truths and if he has leukemia then he should go and see a specialist when he's back home. Then there's the issue of his holiday - how long was this guy on holiday for? 1 year? 6 Months? 1 week?

There's some kind of rule about everything on a plane being massively fire retardant. I doubt he could have set fire to that blanket even if he tried, and even if he did someone would just put it out.

Is Leukemia something that comes on out of nowhere? Most travel policies will cover emergency treatment, they're not an alternative to health insurance

Believe it or not most people don't care about cannabis and when I say most I mean the vast majority of people.

The problem is not with your bank, it's with your choice of exchange. Sign up for UpBit Thailand and these problems will no longer exist.

I think you do the passport scan yourself on an app.

The domestic industry can die for all I care, the government would make its money from the massive increase in imports. Something else that would also likely happen is that the domestic industry would get off its ass and actually begin to do their job - make good wines. That would mean more jobs and better products. Right now they can continue to produce whatever rotten stuff they're making and still have an edge, so the current policy encourages mediocracy.