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Yumthai

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Everything posted by Yumthai

  1. 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?
  2. 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.
  3. What PwC means is in the link: "A Thai resident means a person residing in Thailand at one or more times for a period equal to 180 days in any tax (calendar) year."
  4. Practically unenforceable. People who are not tax resident do not file a tax return. People who are tax resident file a tax return for one year at a time (income from the previous year) not several past years income.
  5. You certainly can be aware of the rules but choose to follow the ones you know for sure are enforced (as Thai people do).
  6. I think rules definition and in-field enforcement should be considered altogether, can't much dissociate one from another. The issue being if no enforcement then rules become pointless.
  7. The huge majority of sane-brained people is eager to avoid tax in any possible legal way, specifically when these people are foreigners considered as non-immigrant temp residents in a country where tax rules are unfair/discriminatory, inconsistent, and vastly unenforced.
  8. 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.
  9. 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.
  10. There's still a way to go in order to - maybe - learn to accept others' different opinion instead of calling names.
  11. Experiences and profiles vary. A friend, Thai resident, was able to open last year a priority account with Standard Chartered HK. He had to let/invest HKD1,000,000 equivalent.
  12. These ones use workarounds to mitigate their tax liability (up to 0).
  13. Cambodia was mentioned, some banks with international background are in my opinion reliable: ABA, CIMB, BRED ... https://en.wikipedia.org/wiki/List_of_banks_in_Cambodia
  14. As I mentioned you can open an account in Singapore/HK as a Thai resident with/without providing a Thai TIN.
  15. You can be resident in Thailand keeping your home/address here, stay < 180 days/year being then non-resident for tax purposes, and travel around not triggering any other tax residence the other part of the year.
  16. 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).
  17. First-hand observation. I'm here since two decades and live among Thai people. They constantly transfer money to each others locally and internationally for those with family/friends overseas.
  18. 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.
  19. 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.
  20. So from your point of view it's ok to use multiple accounts and post under different names as long as content is valuable? It's not.
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