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Everything posted by oldcpu
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A counter-point may be that Thailand, if it were to adopt policy of other countries, allowing foreigners to buy land, would drive the price so high that local Thai people could not afford. So this restriction was put in place. Take a look at prices in London UK, and then research the views as to what was a big contributing factor in driving up the prices such that locals can hardly (or not at all) afford such. There is a European country (Spain ? Portugal ? ) where recently the press suggests has now something like a 100% tax on property price (?) for any foreigner wishing to buy. So all is not equal globally for expatriates in comparison to citizens of a country. This is one of the global downsides of being an expatriate. One can not expect equality with the citizenry in all aspects. Like it or not as a non-citizen, when comparing oneself to the locals, citizenship does bring privileges.
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Thailand Moves Closer to Wealth Tax with New Asset Tracking
oldcpu replied to webfact's topic in Thailand News
Not every one is taxed. DTAs with many countries prevent double taxation. The tax that many pay is less than that of their income source country. Medical/hospitals are good quality and a fraction of the cost of other countries. In other countries medical costs bankrupt some. And a wealth tax is looming? Yes, and the sky falling is looming also. Trucks that might run us over on the highway are looming also. My visa is good for ten years. No 90 day reports (instead one year reports). No yearly visa renewals. So you wish to drive a vehicle on dirt roads? Do you wish no electricity infrastructure? Guess what ... taxes help pay for that (its not all pay as you use). Shall we have only the Thai citizens pay for that infrastructure while expats just thumb their nose at those who pay for such? The world is a big place. As harsh as this sounds, if this is not the place for you, then travel find a better place. Many of us dream of traveling, so go for the traveling dream. -
Apologies - I can't recall and you probably already stated .. but do you currently work in Thailand or have assessable Thai income over the RD tax filing threshold in 2023 and 2024? For the year 2024 tax filing, do you receive year 2024 foreign pension income or other year 2024 foreign income from abroad that you remitted to Thailand? ... and what does the DTA with Thailand say in regards to Thailand being able to tax that foreign remitted income? Did you bring any pre-1-Jan-2024 foreign savings into Thailand during 2024? And if you did remit foreign income into Thailand in 2024 did you assess it as assessable and still manage to find a field on the tax form to deduct it ? (as there is no place to exempt on a tax form that I could find). Or simply legally (IMHO) assess it as non-assessable and hence in such a case the remitted income should not be included in tax calculation (IMHO)? If too private ... no need to answer. I appreciate that talking about finances can be a sensitive manner. I am just trying to understand better your tax situation (with both tax filing and tax refunds in some cases).
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Just more paperwork IMHO. As noted elsewhere in this forum, I won't be filing a Thai tax return for 2024 calendar/tax year per direction of a Thai RD official. But if i did , to pass a Thai bank record, given my massive number of withdrawals, would be close to two dozen pages . In the case of 2023 (if it were relevant which it is not) at most there would be 2 or 3 large remittances from outside of Thailand. The other ~20 pages would be many many many local withdrawls for payments in Thailand (as I rarely use cash but almost always use bank transfer). It would be a PIA for the RD to go through. I guess if it was me, I would mark up each page with a page number (if not already) and on first page note which pages had the few remittance to Thailand (via an edit) and then flag the remittances with a big red arrow (on the page where the few remittances were). The intent to make it easier for the RD to spot my legal tax free remittances. It would thou, as I noted, be a big PIA for the RD official to dig through. Brings to my mind a saying in regards to RD asking for this .... "Be careful what you ask for". .
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I discovered mostly (but not totally) the same. I think (re; the tax code) "exempt for the purpose of income tax calculation" means non assessable (in the words of 'non-Thai' expatriates) ... and even just 'tax exempt' is considered 'non assessable' in the view of many (similar in some cases to 'exempt for the purposes of income tax calculation' even if not specifically stated ... which I note, does appear to be supported by what looks to be a deliberate omission (by the Thai RD) of different categories of common exempt income that is tax exempt, as note in Royal Decrees (such as LTR), in ministerial instructions (such as por.161/162) and in selected DTAs. Why would the RD DELIBERATELY (caps intended by me to make a point) omit an exempt entry field in a tax return form, if a DTA ,or if a Royal Decree or a ministerial exemption says such can be an exempt deduction? Why? IMHO that clearly suggests such exempt income is not to be reported. It disappointing to see the lack of clarity and see the confusion here. I do believe that anyone who reports remitted income that is 100% exempt tax (due to DTAs) on their tax return, or remitted income that is 100% exempt tax (due to por.161/162) on their tax return, or remitted income that is 100% tax exempt (due to Royal Decree) on their tax return, will still be mistakenly taxed on such because there is no place on the tax returns to list such as an exemption. This is true for the 2023 Thai tax return in English language and this is true for the 2024 tax return in Thai language. I speculate that those who put such exemptions in the tax return, in the wrong field (and there is no good field), will I believe have such exemptions denied, and will pay tax on income that is tax exempt. Then one is into appeal territory. And good luck with that.
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The answers did appear to meander around this question and not address it head on. I note comments are turned off on the video. That was strange. Clearly they don't want feedback nor more questions. The video jumps around a bit. I skimmed through some of the video and did not watch it all. From what I could decipher - tax free income is treated as non assessable income (although those specific words were not consistently chosen): - Income from before 1-Jan-2024 is tax free (ie non assessable - my words). Hence this is not to be included on a tax form. But one should keep records to prove this. - For pension income, it depends on each country (DTA) whether the income is tax free or taxable (ie non-assessable or assessable) - my interpretation of what was being said in the video. Also the foreign source of the pension income is important if it is taxable or tax free. If the income is tax free (non assessable) by Thailand (ie my words: if DTA claims only source country can tax), it does not go on a tax form. At least that is what I deciphered. Draw one's own conclusions from watching. - For foreign pensions remitted to Thailand, if both the foreign country and Thailand can tax the income (per a DTA), then even if one has already paid tax in the foreign country, one still needs to apply for a tax ID and file a Thai tax return. Then the appropriate rebates/credits can take place (that is my wording). This IMHO is well known and not disputed on this forum. Inheritance and gifts, if remitted to Thailand are not taxable. Personal assets (such as a car outside of Thailand) from before 1-Jan-2024 sold and brought into Thailand, are not taxable. But evidence is required to prove. Again, the video jumped around, so do not believe what I typed/interpreted. I recommend do not believe what I typed. Try and watch this one's self. Message is clear for assessable income that is not tax free and not tax exempt. And that is not new news. However most of the discussions on this thread and others is about income made non assessable due to tax exemptions (such as por-161/162 and some DTAs (not all DTAs)). Again, the video jumped around, so do not believe what I typed/interpreted. I recommend do not believe what I typed. Try and watch this one's self. Frankly - I am very disappointed with the video as it was not as clear as would have been more helpful.
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i won't get into semantics. I do recommend you go back to the tax office and get another assessment before you file any 2024 tax return, if the DTA with your country states only your country can tax your pension ,and if you have no Thai income and if you remitted that DTA specified non-Thai taxable income into Thailand. As I typed before, if you do not double check this with an RD official who does not make a mistake (like the last one) you could end up being taxed on income that is tax exempt. This is your call obviously - but I fear you are headed down the wrong path. However you don't seem to be concerned - so obviously, feel free to adopt your own approach. For others thou, i don't recommend your approach (if their income is noted in a DTA as only being taxed in the source country, which is not Thailand).
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Ok ... then why did you go to the RD office? When my wife talked to the RD on my behalf, the VERY FIRST thing they asked, was I a tax resident? Had I been in Thailand for 180 days or greater? Then they asked, what were the source(s) of my income. I am surprised an RD official took the time to fill in a draft tax form for you, given that you are not a tax resident. .
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This is my concern - for those who file a 2024 Thai tax return ... if they put tax exempt income (from income excluded per the DTA) or put exempt remitted income (from pre-1-Jan-2024 savings) into their tax return , they could then be incorrectly taxed on that. Why ? Because there is no place on the tax forms to list such as then tax exempt. Then one is into appeals and it gets messy. So caution is needed here - and I hope everyone pays close attention to this.
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I checked his post - and he does not mention if his pension was a civil servant or military pension and whether that was or was not taxable in Thailand according to the Thai - UK DTA. I understand UK civil servant/military pensions are only taxable in the UK, but other UK pensions ? Is that also the case? Perhaps non-civil servant UK pensions are taxable in Thailand? I don't know that DTA. This is important - so if you are going to compare to Dah fahrang you need to specify and explain that and confirm you have same type of pensions (as I do believe Dah fahrang did NOT specify that) else the comparison is meaningless.
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A DTA is not going to use 'custom Thai' expressions to define income. Rather it follows the international practice for wording. So if a DTA says only taxable in UK (I assume this is a civil servant / military pension) then it is NOT taxable in Thailand. This does not mean tax exempt. It means NOT taxable (if I understand your post correctly , assuming you are not using different word from the DTA). In that case, clearly to me (ie IMHO) that income should be treated as non assessable. If non-assessable, then it need not be included in a Thai tax calculation and should not go on a tax form. I can only conclude that the RD official made a mistake. If you are skeptical, I would (if I were you) return to the RD if not too far away (with a Thai version of the DTA in hand if possible, and if not the English language version) and ask again. Perhaps even bring a copy of Royal Decree 18 with you (although I do not believe that should be necessary). Every one makes mistakes now and then - and the same is true for RD officials. .
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I suspect a single (multi-page) bank statement, possibly with hand marked up explanations, and then scanned electronically (for an electronic submission and for one's records) would be better than "all the receipts". Having typed that, I am not saying doing that. Like everyone else (even if in my case I am not so much affected) I am curious as to how this will evolve. Every now and then (when absent minded) i will use a foreign credit card (instead of my Thai credit card) for a Thai purchase ... and of course, then some might claim - assessable income !! put this on your tax return. I probably should follow my wife' advice and lock up my foreign credit cards when in Thailand. The problem there is I used to do that, and in one past visit outside of Thailand, I forgot to bring my foreign credit cards with me. .... Being absent minded at times has its problems. lol !!
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We both have the same view there in regards to what I quoted. I am on an LTR visa and the Royal Decree 743 makes it clear one can lose their tax exemption if one does not follow the Thai Minister of Finances rules. So even thou I have a certain strong opinion about no Thai tax return needed if income only from remitted foreign income (as an LTR visa holder) , and an opinion about no Thai tax return needed for foreign income remitted (if exempt under a DTA) , and an opinion about no Thai tax needed for foreign income remitted (if exempt per por.161.162) , I still decided in advance to remit no foreign funds into Thailand in 2024 calendar/tax year. This (not needing to file a Thai tax return) was confirmed with a Phuket RD official if I remitted no foreign income and if had had no Thai income)- and further he would not give me a Thai tax ID. I know sometime in next few years I will have to start remitting foreign money to Thailand - and I probably could do such today tax free with no Thai income tax return submission required. But 'probably' is not good enough for me ... so I will wait a few years and do my very best to learn off of the experience of others. For while I clearly have a strong opinion on this (no tax return needed for the noted remitted income), I see no need to take a chance, as my opinions are not always 100% correct. Every expat (IMHO) should be aware of their own financial situation in regards the the DTA with their income source country, and the status of their funds relative to por.161-162, and make their own decision given their financial situation.
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Thailand Moves Closer to Wealth Tax with New Asset Tracking
oldcpu replied to webfact's topic in Thailand News
I tried credit card once (paying trivial amount owed to Revenue Canada by a credit card). Maybe I did it wrong. It failed at first and on a later attempt I had an extra (big) payment company fee relative to a small amount of tax due. Then (stupid me) in a subsequent year, I did a bank transfer from a Canadian bank to Revenue Canada. That worked for Revenue Canada, but somehow that woke up the Canadian bank to my being a non-resident to Canada. The Canadian Bank immediately froze my RRSP and my Canadian margin trading account. It took me almost a year to sort that, so I could trade again (moving all funds to a different financial institution). -
I used VM translation service but it was not recently (it was done in the year 2020 time frame). https://www.facebook.com/SutthiratYimyong/?locale=th_TH I wanted to have my Canadian marriage to my Thai wife registered in Thailand for Visa purposes. I live in Phuket, and VM Services is in Bangkok. This was around the start of COVID times - so travel was difficult. So after (my Thai wife) contacting them on they phone, they advised us what to send, and we couried all the appropriate documents to them, and they handled the rest. Part of this was to give them limited power of attorney to represent my wife and I in this activity. They translated the documents (they are certified translators for English language to Thai language). They took copies of my marriage documents and passport to Canadian Embassy and had such certified. And then took such to the Ministry of Foreign Affairs and had such certified by them. And then couriered all back to me. I did not at first think such was possible (and was 'moaning' a bit on AseanNow), but Ubon Joe, bless his soul, set me straight and advised me to surf the internet and find such a service as he noted there were various companies that provide such. Possibly the only area where I 'deviated' a bit was in the 'power of attorney' document I signed, where I hand edited the wording a bit to restrict the power of attorney to only handling documents associated with registering my Canadian marriage in Thailand.
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Thailand Moves Closer to Wealth Tax with New Asset Tracking
oldcpu replied to webfact's topic in Thailand News
I think every one has been asking that question for the past 3,000 ? years. -
Thailand Moves Closer to Wealth Tax with New Asset Tracking
oldcpu replied to webfact's topic in Thailand News
To Germany? No. German government sent me a letter (despite my having German + Europe pension income) and advised me I did not have to file a German tax return since I was a Thai tax resident. To Canada? Yes. Canada taxes ALL Canadian sourced income for both residents & non-residents. None of the Canadian DTAs (to best of my knowledge) avoid that Canadian policy. To Thailand? No. Phuket RD was quite clear some months back, that given I was remitting no money to Thailand in the 2024 calendar year and since I had no Thai income, that I did NOT qualify for a Thai TIN ,and that I should NOT file a Thai tax return. -
There is a lot of trust there (by Thai RD) in what you posted. For me? I would ensure I stayed 100% legal and kept records of everything to back up my legal tax management approach. Just because someone 'trusts one' does not mean that someone might not come back sometime and do an audit. Having typed that - Thanks for sharing. Most interesting. .