JimGant
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Posts posted by JimGant
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2 minutes ago, chiang mai said:
My evidence is as previously stated, yours appears to be emotion
Nothing emotional about stating that most expats are familiar with the "last year's money" concept. And thus haven't filed a Thai tax return. Going forward, however, will probably be a different situation.
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Just now, chiang mai said:
You don't quit with the insults, do you, is it completely beyond your capabilities to enter into discourse in a civil manner!
I thought it was a fair question, considering most normal expats don't file Thai tax returns. Over.
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12 hours ago, chiang mai said:
ALL earn more than the tax threshold, by virtue of the amounts required for their visa's, ergo, I would expect the percentage of expats who file returns to be much higher, especially under the new rules.
But we're not yet considering the new rules for this drill -- we're talking history. And historically every farang was probably aware about the "last year's money" concept of no Thai taxation. So, they were probably smart enough not to have any direct deposits of foreign payments, unless it was exempt from Thai taxation via DTA. Otherwise, remittances that could be taxable were filtered through a financial institution -- preferably one that had been open the previous tax year, and fully funded. But if not -- just pretend it had been, knowing TRD would assume, unless you're retarded, that you had used the "last year's money" concept. And thus wouldn't call you in for a chat.
So, yeah, it is reasonable to assume very few expats have ever filed a Thai tax return.
By the way, all those farangs you saw at TRD when you filed your taxes -- did they look like they worked in Thailand? Or did they look retarded? Just curious.
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11 minutes ago, chiang mai said:
I think it has merit
Why, for goodness sakes?
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5 minutes ago, chiang mai said:
Some people want to file a null return, some people want to be seen as small fry to avoid closer scrutiny.
Ok, I won't call them idiots. So, what shall we call them? Misinformed?
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2 hours ago, chiang mai said:2 hours ago, anrcaccount said:The vast majority of those using the income method for their visas have never filed a Thai tax return, despite many technically breaching the laws, for many years, with zero consequences.
IMO, next year will be no different.
And your proof of these things is where?
In human nature. Only an idiot would file a tax return, when he didn't have to. Any other reason, particularly when no taxes were owed, would, I guess, be maybe because of an obscure, nonsensical requirement to file if having greater than 60/120/220, whatever, assessable income. Easily ignored -- with no reportable consequences -- due, I guess, to TRD common sense. Common sense, too, with your actions.
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2 hours ago, chiang mai said:Another poster made a valid point earlier when he said he would file, even though he had no tax to pay. His motive was that he wanted to identify himself to TRD as a small fish and to build up a track record as such....the idea has merit.
Has merit -- why? Why put yourself in TRD files as a tax filer -- when no taxes are owed? Probably (I hope) such a filing would go in the trash bin, as generating no interest, and no revenue. But, worst case -- you're now in the data base, and as such, they'll now expect an annual tax filing (even it it's another brain-dead nil filing) -- and if they don't get one, they'll investigate.
No, only an idiot would file a nil tax return -- and put themselves on the radar screen for future tax filings.
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1 hour ago, Sheryl said:I tend to agree that people with assessable income remitted into Thailand would do well to submit a return for 2024 even if - -as will be true for many -- they end up owing no tax. (For those whose income is taxed in their home country, this is assuming the TRD does in fact amend the forms to allow people to claim a credit on taxes paid abroad).
If you have a smidgin of remitted assessable income well below being taxable -- after TEDA -- why subject yourself to filing, and for subjecting yourself to getting a TIN? Just stay off the radar.
And, remember -- only if Thailand has secondary taxation rights per DTA, like on rental incomes, will a Thai tax return have to absorb a tax credit. But if the DTA says Thailand has exclusionary/primary taxation rights -- then the whole enchilada is taxable, and keepable, by Thailand (and no need for a tax credit line for foreign taxes). But, so what? If that kind of remitted income is well short of being taxable in whole by Thailand, after TEDA -- in my "smidgin" example -- again, save yourself the hassle of getting a TIN, and filing a tax return.
Yeah, we hear about having to file if your "smidgin" assessable income exceeds 60/120/220/whatever. And if you don't -- a 2000 baht fine. Never happened, and never will. But if it did, well worth the cost for not wasting time with TINs, filings -- and putting yourself on TRd's radar screen.
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2 hours ago, oldcpu said:
But for expats - I do believe it is very important to distinguish and accurately know which of their income sources are assessable and which are not assessable.
Indeed. And for Canadians, per DTA, govt AND private pensions are both non assessable income for Thai tax purposes. So, remittances of such are just invisible for Thai tax filing requirement purposes -- and more importantly, for Thai tax payment obligation.
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2 minutes ago, chiang mai said:
The member I responded to is British
Right. Saw my error, and edited my response. Sorry.
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11 minutes ago, chiang mai said:
It looks as though all your pension income is potentially assessable to Thai tax and that none of it is exempt by treaty (DTA).
Huh? My DTA gives the US exclusive taxation rights on my Air Force pension, and social securityl. You know that, of course -- so what am I missing here?
Woops, you were addressing a particular poster's situation. Sorry.
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5 hours ago, TorquayFan said:Any thoughts about this
Yeah, completely slams the Thaiexaminer for publishing hearsay. Especially the part about "all tax residents required to file a tax return." Now, maybe they heard a rumor about new tax return forms having line items to provide ALL remitted income, regardless of its assessability. In that case, maybe, then, all tax residents could be on tap to file a tax return, as TRD has become interested in the income not being declared per DTA. Anyway, video was correct to slam the Thaiexaminer as being way too far ahead of this potential bow wave. And, logically and fiscally -- TRD doesn't have the resources, nor the need, to screen tax returns from all tax resident. Geez.
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On 11/3/2024 at 9:42 PM, topt said:
According to one of the many vids from ExpatTax you can choose LIFO/FIFO or whatever works best for you
Further substantiated from this 12-year old BP article:
QuoteFor scriptless securities, the taxpayer is allowed to use any acceptable accounting method such as FIFO, LIFO or weighted average method in calculating cost of securities.
- Once any of the accounting methods is used for calculation of cost basis, such method has to be used consistently.
Not an exact fit, but good enuf IMO to use for an account with comingled pre 2024 and 2024 onward funds. Thus, FIFO would allow that exemption for pre 2024 income to be what you self assess as to what you remitted.
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1 hour ago, shdmn said:
I don't think citizenship determines your tax residency.
It could as a tie breaker. Here's a long-winded excerpt from the tech explanation of the US-Thai DTA. Most other DTAs, since most rely on Model OECD tax treaty language, say the same:
QuoteIf, under the laws of the two Contracting States, and, thus, under paragraph 1, an
individual is deemed to be a resident of both Contracting States, a series of tie-breaker rules are provided in paragraph 2 to determine a single State of residence for that individual. These tests are to be applied in the order in which they are stated. The first test is based on where the individual has a permanent home. If that test is inconclusive because the individual has a permanent home available to him in both States, he will be considered to be a resident of the Contracting State where his personal and economic relations are closest (i.e., the location of his "center of vital interests"). If that test is also inconclusive, or if he does not have a permanent home available to him in either State, he will be treated as a resident of the Contracting State where he maintains an habitual abode. If he has an habitual abode in both States or in neither of them, he will be treated as a resident of his Contracting State of citizenship. -
9 minutes ago, Danderman123 said:
Unless you have many millions in a Thai bank, your savings account interest is only going to be a few baht.
And if you're a Yank, not having a Thai TIN means you can make a one line tax credit entry on your US tax return -- to get back the Thai tax withheld.
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1 hour ago, StraightTalk said:
And you're still bitter about why he was chosen as moderator over you
You can't be serious..... Why would anyone want to be a moderator? Are you somehow implying that I applied for moderator -- and was turned down? Ludicrous.
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5 hours ago, Tug said:
Guess you will never know cause you don’t bother to watch
It's too painful to watch her, with that high-pitched voice and that intolerable "I've-got-gas" grin. If she's said anything worthwhile, I'll read about it in the papers.
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45 minutes ago, chiang mai said:I really don't care what y'all do.
Why would anyone care about what you care about.......
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3 hours ago, chiang mai said:Lister was right about one thing.....don't try and give members tax advice when you're not qualified and don't know,
Indeed. And Lister certainly was not qualified. Fortunately, he's gone -- but where? Sadly, his echo continues here.
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2 hours ago, chiang mai said:Actually, thinking more about this, if you're not smart enough to get yourself a TIN, you deserve what happens to you later
But if you're smart enough to avoid folks who can't think outside the envelope -- you'll probably come to a better solution for a convoluted situation. And what could possibly be the 'happens to you later?' A fine on taxes not owed? Fish sauce on your hotdog? Nevermind.
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3 hours ago, ScotlandtheBrave said:I live on my pension transferred over every month from my UK bank account, and I have already paid tax on my pension in the UK so I am hopeful that when I can prove that in my tax return in Thailand they will be clear that I do not need to pay more tax here in Thailand.
Is that a pension for services provided to a UK govt organization, including the military? If so, if that's the income remitted to Thailand -- this income is not subject to Thai taxation (per DTA), so no need to file a Thai tax return. [But, if a private pension and remitted, yes, subject to Thai taxes, per the DTA.]
Did the agent you used to get a Thai TIN ask you why you needed it? Did you mention private or govt pension? Probably not. They just had their hand out.
Anyway, common sense says, if you don't need to file a Thai tax return, 'cause you owe no Thai taxes -- no realistic need for a TIN. Yes, specific language says maybe you should get one. But, if you don't -- and no taxes owed -- what's the penalty for avoiding the hassle of arguing with a TRD clerk, who's also relying on common sense.
Not to belabor the point here, but to reference a thread, below, that thoroughly discusses TIN requirements. Pay particular attention to 'Troubleandgrumpy", whose arguments are sound and well-presented. Contrast this to Mike Lister's 'black and white' arguments, giving no room for an intelligent interpretation. Lister disappears during the thread -- but his 'black and white' arguments are assumed by poster Chiang Mai.
https://aseannow.com/topic/1327316-tax-id-number/
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1 hour ago, Presnock said:if a "tourist" is only here for 175 days, he is not a tax resident so wouldn't have a tax id nor have to file taxes on any of the funds remitted into Thailand
Of course. But the "being a tax resident" aspect is not stated in their "get a TIN after 60 days." The below is a little clearer -- but how you incorporate the "60 day" rule is not:
QuoteIf you receive or remit assessable income in Thailand and reside in Thailand for 180 days or more, you need a Tax Identification Number (TIN).
https://www.expattaxthailand.com/tax-identification-number-thailand/
Anyway, if, like me, you'll never have any income -- remitted or worldwide -- that would be subject to Thai taxes -- forget getting a TIN. What could possibly happen? Besides, don't want my name in a TRD data base.
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On 6/19/2024 at 2:20 PM, Mike Lister said:
thus far this year, because the law states a person will acquire a Thai TIN, within two months of exceeding the income threshold of 60k Baht. That means, well, you know what it means but perhaps you have a different slant on things.
Well, duh, I'm a tourist here for 170 days, remitting tons of assessable income during those 170 days. What now, dude?
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20 hours ago, Presnock said:
well I have read the Thai Revenue Official English translation of the rules that we have to follow - includes having assessable income so must obtain a Thai tax ID number within 60 days
Does that include tourists, here for only 175 days, but sending tons of assessable income to Thailand during that period? Rhetorical question, I hope.
Rules that are not well thought out, and that have no loss of any tax receipts, and are realistically unenforceable -- seem to be ignored by Thai bureaucrats -- and could seemingly be safely ignored also by expats.
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Thailand's Expats Urged to Register with TRD for Tax, Says Expert
in Thailand News
Posted
Naaaaa. That would really be retarded.