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Yumthai

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Everything posted by Yumthai

  1. Yumthai
    Agreed, we can't know for sure. DTAs are complex and do not 100% bulletproof remitted income depending on case. How about all foreigners who have bought properties in Thailand? It's reasonable to think most have sold assets abroad to remit and buy within the same year.
  2. Yumthai
    I suspect there are more expats committing tax evasion than your numbers. I would say it's not only about ignorance of the Law, it's also because of no rules enforcement or corruption awareness. If TRD is not going after these people, as you mention, then there is no worry nor case to be defended.
  3. Yumthai
    Maybe because in some other countries I've lived people couldn't bypass rules simply using legal loopholes, workarounds via agents or "flexible" public servants.
  4. Yumthai
    No empty spot.
  5. Yumthai
    This is where we differ. Unlike you, my tax enforcement risk assessment is low. Agreed. I suspect "some will" is more important than "some won't". If I were in their shoes and want my country grows, I won't try to enforce foreign sourced income tax on temporary foreigner residents as it's as unfair as totally economically unproductive.
  6. Yumthai
    Without doubt there will be increasingly more foreigner residents who will file a tax return thanks to because of the scaremongering propaganda pushed here and there. Still, in my opinion, the big majority of this population will not be making themselves aware to the TRD, awaiting to see concrete tax enforcement (audit + penalties) broadly happening to individuals in the real world.
  7. Yumthai
    The author last visited Aseannow.com on July 21st.
  8. Yumthai
    I acknowledge your scaremongering efforts. Tax enforcement sounds so easy indeed, you make me wonder why TRD has never contacted me to check all the substantial undeclared remittances over the past 2 decades. Maybe I'm just the lucky one.
  9. Yumthai
    Some think TRD would need access to offshore accounts balances+full transactions in order to double check, at audit time, the authenticity of the nice bank statement print-outs you hand them justifying that all remittances from your Georgian/Chilean bank were from savings prior 01/01/2024 therefore tax-exempted. Or could we just assume that a stack of papers in local language will be more than enough to content them?
  10. Yumthai
    Are you commenting on TRD's behalf?
  11. Yumthai
    Have you someone in mind? 😁
  12. Yumthai
    Yes I do need proof, where is it, or are you just guessing and saying things that have no basis in fact? The number of tax residents in Thailand who file and pay tax is low, far away from the majority. It's not irrational to think the same proportion (if not lower considering expats unawareness) applies to the foreigner residents community.
  13. Yumthai
    The risk is that these law abiding tax return filers could be seen as and only as fish (of any size) TRD can easily catch and audit, unlike the other fish they're not aware of. Knowing Thai people and how things work in this country I assess this risk way higher than being randomly audited.
  14. Yumthai
    Practically unworkable. TRD should first think how to implement audit and money collection from tax residents, before unreachable non tax residents.
  15. Yumthai
    You could certainly have found a high street bank in say Singapore/HK/Switzerland that will have accepted your massive amount of cash understanding that you can't provide a Thai TIN if you are legally exempted or don't pay tax in Thailand.
  16. Yumthai
    In order to be challenged TRD should first enforce (audit > penalties) their rules.
  17. Yumthai
    There are plenty of countries that do not tax or issue TIN to its residents, I doubt all these people have no access to international banking and brokers.
  18. Yumthai
    In my opinion, a better system is one where temporary foreigner residents are not tax liable on their foreign sourced income.
  19. Yumthai
    In the real world, the only ones who can be seen effectively collecting the money in Thailand are the loan sharks.
  20. Yumthai
    There is no must, it all depends on your country(ies) of citizenship. For some/many countries being tax resident somewhere is not a requirement to become non tax resident. Need to dig in each country tax residence criteria. Agreed that being tax resident nowhere is not a long-term safe situation for not well-structured wealthy individuals.
  21. Yumthai
    I think beyond money, for most of us who have voluntarily chosen to settle down abroad for a better quality of life, it's more about avoiding the increasing bureaucracy and control hell applied back home.
  22. Yumthai
    Surprised you're posting a good workaround to avoid admin burden and potential tax. Vacation time is fruitful.
  23. Yumthai
    Sure you can.
  24. Yumthai
    There's actually a Cardless Cash (via ATM) payment option offered by some merchants. No KYC/bank account is necessary. 100% agree.
  25. Yumthai
    Usually people lie, bribe or pay for a "service" to get something that benefits to them. Begging for a TIN in order to pay taxes is not what can be called a benefit, except maybe for masochists.

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