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JimGant

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  1. It's simple enough to figure out whether or not you owe any tax on assessable remitted income. If not, why would you bother visiting the local tax office....?
  2. Both Jewish. Kinda suggests that Israel's desire for war had a leg up, courtesy of the US negotiators.
  3. Revocable trusts to avoid probate -- like we see in the US -- are not recognized in Thailand. Putting Thai assets into a US revocable trust wouldn't work either.
  4. Yes, no change for you. I'm in the same situation, use Wise to do an ACH pull from my US bank and send it on to Thailand. Switched to Wise when the ACH transfer mechanism thru Bangkok Bank New York closed down. Keep it simple with Wise, and you shouldn't get runover.
  5. More bloodshed has been caused by organized religions -- Christianity even worse than Islam. If there is a god, he/she/it has a weird sense of humor. I guess separation of church and state is just another element of the Constitution gone by the wayside under Trump.
  6. There's always the chance that someone in a branch office doesn't agree with -- or has never heard of -- the party line. Nevertheless, these BoI slides certainly give you the credence to not file a tax return, and not go out and get a TIN -- and not worry about being audited.
  7. Yes, this has been suggested by some Thai tax prep companies. Filtering thru an offshore bank account would have income converting to a gift - pre arrival in Thailand. Thus, remitted monies would have the same non taxability as a remitted bank loan. Problem -- giftee not having a foreign bank account.
  8. Bingo. There's enough uncertainty on this subject that one should give himself the benefit of the doubt, gather up all the postings in favor of gift remittance exemptions, then don't declare on a tax return and await the less than 1% chance of an audit.
  9. Then those receipts are value/income paid to you while in Thailand and thus subject to income tax. Absurd, yes. But if that gift to your wife had subsequent value to you -- then, yes, there's an income element here -- either at the remitted end, or when subsequent value is realized.
  10. Thai gift tax came about in 2015 to cover the same loop hole the US saw a long time ago, whereby fat cats were gifting their estate assets (upon which income tax had already been paid) to avoid estate/inheritance tax. The US now treats gifts as subtractions from estate value, and taxes accordingly, meaning you can't gift away your estate free of estate tax. This is nearly the Thai model, whereby a gift of over 10M/20M baht is taxable by the recipient (but in the US, it is taxable by the donor/estate). Thus, fat cat Thais can't avoid inheritance tax by gifting away their estate (or at least their gift recipients can't), whose value already includes any income taxes paid on value added to the estate. The 2015 gift tax law assumed gifts were all from after income tax assets in one's estate. Thus, that assessable income money you remit to Thailand -- only becomes part of your taxable estate after net of income tax. Thai gift tax is completely divorced from tax rules on remitted assessable income.
  11. Does the Land Office know when land owners die? If so, how are they notified? If not, why couldn't I just pretend she's still alive - and continue to live in our house, which is on one of her properties, which has a 30-year lease on it. Her Will gives me all her real estate, and we have the understanding I'll have our nephew take ownership of it for one satang. But, he lives in Bangkok (we're in CM), is quite busy, and there may be complications with getting him up here signing over ten Chanotes within that designated one year window. Obviously, if I only have one year to sell this property, I'll get this nephew up here, or another relative, as I want to keep the property in the family, and don't need any sales proceeds to sustain me. But, a little more wiggle room would be nice. And if the Land Office didn't know of her death, I'd have that option. Any firsthand info on this question -- or solid hearsay?
  12. UK questions the legality of the airstrikes? To what end? It's a fait accompli. Saying "knock it off you guys, it's illegal" makes the UK sound ridiculous in the midst of a very serious situation.
  13. Amen. What a bunch of BS. So, TRD sees you have a large amount of remittances, thus wonders why you haven't filed a tax return. ExPatThai says, pay us 10,000 baht (plus 5,000 for a TIN), and we'll file a null tax return, with "LTR Visa Holder" in the remarks section (wherever that is). But, if TRD can see I've been here over 180 days, and thus a candidate for a summons -- they can also see my visa type. So, chance of a summons is nil. But, if my large remittances do call attention to TRD, and I'm summoned -- thus I have to waste a couple of hours and go show them my LTR visa. Thank you very much. Adios. Or, waste several hours, 15,000 baht, and go visit ExPatThai. And then still get called into TRD, because their database has no way to tabulate information from a non existent "remarks" field on a Thai tax return. In any event, ExPatThai's advice in this matter has relegated them to the "snake oil salesman" category.
  14. Anyone? Yes, no need for the Amphur to prepare the Will, which, having to be in Thai, would make for a long day, especially since they require specific details about your estate. You, on the other hand, can self prepare, and skip the specific details, instead saying "I leave everything to my wife." Etc. And the Will can be in your native tongue, unlike an Amphur prepared Will, which has to be in Thai. [But, will need to have a certified translation to Thai after it's popped from the envelope after your death -- and before probate.] But no need to involve an Amphur, in any aspect of a Will. In the old days, Amphur wills were for the poor, with the Amphur helping in its preparation for a few satang; then upon death, these Wills were self-probating. No longer, as lawyer mafia was losing probate fees, so they put an end to this. And, it's a myth that Wills have to be certified by an Amphur, if you, not a lawyer, prepare the Will. So, no real advantage to storing your Will in the Amphur -- or even paying a visit. Just get a good template, prepare the Will yourself, and follow a few common sense rules, like making sure witnesses are adults and sane. Thai Civil Code on Wills is not demanding, so with a good template, you ain't gonna screw it up. No need even to have a Thai version of the Will, at least at inception -- only before probate (if you even get that far, as if you only have bank accounts, there are ways to circumvent probate).

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