ukrules

I guess this is where the Elite visa comes in useful as I don't need to send any money each year at all. When doing the 6.5 months abroad to gain non residency during a single year I could send in enough money to cover all costs for many years to come once the conditions are right.

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.

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.

My mistake, I edited it. It is 100k a month as a minimum. Sometimes I bring in far more due to lazyness, for example - I want to buy some crypto and keep the foreign bank from knowing about it - just send the money to Thailand and use a Thai crypto exchange - I won't be doing that any more either.

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.

Apparently they want up to 35% more.

Indeed, when you think about it - they should tax the debt repayments each year as they happen - that would be a nightmare to administer.

Just put them on commercial flights with the tourists which according to another article seem to have no problem getting flights. They could force or coerce the airline to carry them if they need to after all they make the rules up as they go here

Indeed, based on the rents mentioned at the top of this thread they seem to be yielding 3 to 5% - and that 5% appears to be the lucky one. When the yield is 3% you know someone got ripped off if they paid the asking price for the condo - of course those asking prices are nonsense anyway.

He's not listening

It will when the partial video of one of the murders of a Thai man starts to circulate this week and I'm sure it will do so in the next day or two. Attempting to cut someones head off with a large spade is not going to go over well with the population.

It's nonsense, that's what it is.

This guy listens to nobody, he's always been the big boss and I suspect is very used to getting what he wants. How long before coalition partners start to 'break off' into other factions? I may be a small tax payer next year, do I get one of these digital wallets? ????

Maybe I'm grandfathered in under the old signup rules as I've been using UpBit on and off to buy since just after they launched. I guess one day I'll also be excluded, at which point the Mrs will open an account I guess.

I'd like to see the 2019 and 2018 figures as well - just for comparison.......????

I'm like 99% sure that's a stock photo and not a photo of the patient in question but it does sound a bit nasty from the description.

My thoughts exactly - he looks just like a monk to me

We know that, but I have a feeling the Chinese press won't be quite so 'restrained' in their reporting. I guess we'll find out in the next day or two.

Yes, that's my take on it as well.

Wow, this will be front page news all over China tomorrow. They're not going to be pleased at all.

It has been clarified elsewhere - there are ZERO tax benefits to the Elite visa itself, when it was promoted as having a potential for tax savings by over zealous agents they were relying on the 'bring it in next year' feature which is still built into the act of parliament since nearly 40 years ago - the one that they think they're going to change. The Elite Visa itself is just a glorified tourist visa, they last for 5 years each time you get a new sticker in your passport and every entry / extension is for 1 year. So you're a tourist who can easily stay all year which means after 180 days you're a tax resident and if you haven't paid any tax on your income abroad then they are going to be looking for some from next year onward which means the tax return submitted in 2025.

This story is wrong anyway, it had nothing to do with the official lottery app, from what I've been hearing now it's hit the larger TV news he bought the tickets from some third party website online. There's a lot more to this story than meets the eye - the tickets were not sent for some reason and they said something about selling them to someone else when they didn't send them COD to the original guy who wanted them.....

So they're going to repeal that act of parliament from the 80's which contradicts this new memo? Good luck with that ????

International commerce would grind to a halt so it will never even be considered as an option let alone implemented.

Wrong - that was 100% the intention of the original law which is exactly why it's not a loophole.