
Yumthai
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Expats in Thailand urged not to worry about negative income tax
Yumthai replied to webfact's topic in Thailand News
How about the dozen maybe hundreds of foreigners who pay an agent to get a 1 year extension stamp in their passport bypassing all financials requirements since years? Should they worry? -
This is surely common sense for governments that crave to collect more and more information on cattle people in order to control and milk them, sadly not for individuals who struggle for freedom in this world. Fortunately Thailand is far behind in term of coercive power and real willingness to go the globalist route compare to CAN/UK/AUS/NZ/EU.
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Right, we can agree that all posts are opinion unless there's a linked source. Regarding your content, I will add that some of your opinions are written using authoritative wording that may be confusing and let the readers think it's official information. I won't quote you here as you're a dedicated posting machine (at the point we could wonder if it's a daily job), your posts being everywhere available for readers who can judge by themselves.
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I disagree. The issue is that you certainly provide some good factual content but sometimes mixed with your opinions presented as facts/undeniable truth, and it's difficult for the readers to sort things out. It just appears that several other posters don't share some of your opinions and feel the need to challenge your assertions. There's no cabal.
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You can open an international non-resident multi-currency bank account in "better" countries like Singapore, HK, UAE, Jersey/IOM,... if you fulfill their financial requirements (premium/priority/private account generally starting at low 6 figures $ AUM). These banks (DBS, OCBC, UOB, Standard Chartered, Citibank, HSBC,...) will understand that, as a Thai resident, you can't provide a Thai TIN if you have no taxable income in Thailand (but it's not so difficult to get one either then stay < 180 days a year in Thailand).
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I'm not suggesting, just read Thai gift rules it's pretty straightforward. The intention or purpose behind the gift is never mentioned in the Law. Gifting relatives is very common in Thailand. For instance, Thai nationals residing abroad (can) send regularly money to their parents/kids in Thailand, legally tax-free (under 20M THB/ year) for the receiver.
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I believe you're overthinking. According to Thai gift law (I'm not covering UK side), if your parents wire transfer money from their UK bank described as "Gift to (support) my son Mike Teavee" to your Thai bank account then it is considered as a gift and taxable if yearly amount gifted exceeds 20M THB. What you'll do thereafter with this money is irrelevant to tax purposes in Thailand.