Yumthai

OK. I think this part of the BP article is very "oriented" because it's clear that very few taxpayers who file 5M+ THB can get an effective PIT rate < 20%.

Even with that can't come close to 10%, can you?

Ideally, they should condition the 5% corporate tax cut to a minimum 2.5% increase on all staff (earning below a certain amount) wages.

I'm curious how they calculate because declaring at the top PIT rate = declaring 5M THB. Even with full possible allowances/deductions I can't get close to 10% effective tax rate.

This pdf appears to be old as it contains outdated information (deductions, allowances,...).

Considering the inconsistency and unreliability of Thai institutions, some people will wait until some authority will directly and individually require them to file and pay tax against for instance visa issuance, or until they see real tax collection and penalties enforcement broadly happening in the field. Some, not without difficulty, will try to comply with the ever changing rules. Some other are barely aware of this tax mess and could not care less. Everyone should act according to what they think is right for them.

In case you don't file because you self-assess you have no tax to pay, there can be different outcomes: - Nothing happens because nobody will ever knock at your door (most probable imo). - TRD addresses you a small tax bill because they assess for some reason you should have paid taxes. Then rather pay the few thousands baht unless you can easily prove TRD made a mistake. - TRD addresses you a big tax bill because they assess for some reason you should have paid big taxes. Then it could be cheaper to get to the court and challenge their interpretation of the rules.

At the time they post the FAQs Bitkub people were "currently" right. I would not bet 1 satang they won't obediently hand historic data to TRD when rules change in the future or if asked firmly. That's easy available information to compute for tax purposes.

"As stipulated in CRS for tax residency, ie, 180 days or more in a Country and you are a tax resident of that Country." What does this statement mean? If you mean CRS defines tax residency by staying 180 days or more in a country, it's wrong. Please quote your exact reference.

Wrong.

Agreed. Increasing indirect taxes like VAT is an easy, cheap and quick way to fix the inefficient tax collection system forcing the wealthiest and other non-complying folks to contribute more in absolute. People are used to deal with constant price increases in Thailand, be it due to high inflation or tax, result is the same for them.

I can see the same comment in few months when XRP will hit 5$ then 10$.

That would be great for people living from US dividend. US-TH DTA allows 15% WHT on dividend that will come as a tax credit cancelling the proposed 15% PIT.

If society collapses you'll get into much deeper trouble with your gold. Hope you hold a full set of lethal weapons + ammos and know how to use it.

You mean the agent fees you have to pay in order to get a 1 year extension of stay stamped without meeting any financial requirement?

Absurd comment.....no country bases it's real estate market on the premise that all sales to resident foreign buyers will not tax funds used to purchase real estate. Instead of posting an irrelevant comment can you answer the question or your crystal ball is not working today?

IMO it's unlikely to happen. Can you imagine what will be the consequences on the property market and foreigner residents community the day such people will be audited, fined and required to pay 35% marginal tax rate on their RE purchase?

When they'll feel the drop in the property market, it's highly probable rules will timely be made to exempt foreign remitted money for investment purpose from tax.

If you want to believe rules are or will be strictly enforced in Thailand it's up to you. If you assess enforcement risk is high it's up to you. Others have different opinions.

Any Code is worthless if not enforced. You keep dismissing tax enforcement or speculate rules will be enforced without any evidence it will.

The art of inverting the roles. You're the one who can't accept contrarian opinions, not the other way around. Your constant proselytistic posting is readily available to readers.

I concur. Actually these like-minded folks are very few, but as usual minority needs to be loud to preach their truth.

of course there is the head in the sand approach I've been to KBank yesterday for other purpose, no mention about CRS self-certification (that I've never filled). I assume if it was an urgent requirement a notification would have showed up in their system.

I agree there is a trend, but there is also how things are still working in this country. Each time I get to the bank I witness several Thai people depositing multiple 100K stacks. I'm really not sure SOF is systematically asked, far from that. The day SOF is really enforced all these people will just move banking.

Sure, you believe what you want to believe.