
Yumthai
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Everything posted by Yumthai
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I don't get what your agenda is, except scaremongering, imaging and pointing out unfavorable events that are possible to occur but unlikely to happen (taking into account Thailand inconsistency, rules flip-flopping history, blatant corruption level and so on). Or, if you think western-like enforced global taxation in Thailand is probable (likely to happen) and on its way, can you bring relevant arguments?
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Report Foreign Earnings Taxed Under New Thai Rules - But With Exceptions
Yumthai replied to snoop1130's topic in Thailand News
Tax enforcement has not changed. Still non-existent. -
Report Foreign Earnings Taxed Under New Thai Rules - But With Exceptions
Yumthai replied to snoop1130's topic in Thailand News
You're lacking vision. Thailand can't afford global taxation without opportune tax exemptions that would be not too complicated to implement for those who do not want to pay tax. -
Report Foreign Earnings Taxed Under New Thai Rules - But With Exceptions
Yumthai replied to snoop1130's topic in Thailand News
Seriously? The Elite and other wealthy people do not pay tax (or almost nothing compared to their income/net worth) anywhere in the world, do you think they feel guilty? Wake up. -
Do you seriously believe wealthy Thais will pay their fair tax share (meaning at 35% marginal rate) at some point in Thailand? With the current PIT rates, worldwide taxation will never happen in Thailand or, if it does, it will come along tax exemptions and other creative workarounds for the big cats.
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Under the new guidelines, Thais with foreign income will not be taxed if they remit that income in the year it was earned or the following year. For example, if income is earned in 2025 and brought into Thailand in 2025 or 2026, it is not subject to tax. However, if the income is remitted after that period, normal tax obligations apply. Great but it is only mentioned Thai people, what about foreigner residents?
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Your case is unfortunate but not surprising. You asked TRD for a tax refund. They are not happy. They make you pay regardless of the rules/law. They know you are not going to challenge their decision before the Court. And even if you do and fairly win at your own costs, these people have literally nothing to lose. Moral of the story: Better stay away from TRD unless you are individually summoned to.
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Page 3: 2. Non-residents of Thailand If you stayed in Thailand for less than 180 days in the tax year, you were a non-resident of Thailand for tax purposes. If you derived any income which is subject to Thai personal income tax and you meet the conditions stated in 1. (1) and (2), you are required to file this return Funnily enough they omit to define what income is/isn't subject to Thai personal income tax as a non-resident for tax purposes... unless they imply income subject to tax is the same as being tax resident which then makes no sense to distinguish both categories at all.
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US Charles Schwab Residency?
Yumthai replied to BKKKevin's topic in Jobs, Economy, Banking, Business, Investments
US estate tax can indeed get quite complicated for non-US persons. That's why US nonresident aliens are reluctant to directly invest in US situs assets (holding company structure can be set up at a cost by lawyer to dismiss tax) to avoid their heirs a burden dealing with IRS and US inheritance get slashed. -
US Charles Schwab Residency?
Yumthai replied to BKKKevin's topic in Jobs, Economy, Banking, Business, Investments
Yes, apparently "An unlimited exemption is available for US situs assets transferred to a US citizen spouse." https://www.ustaxfs.com/insights/us-estate-tax-concerns-for-non-us-persons-update/ -
US Charles Schwab Residency?
Yumthai replied to BKKKevin's topic in Jobs, Economy, Banking, Business, Investments
What do you mean? -
US Charles Schwab Residency?
Yumthai replied to BKKKevin's topic in Jobs, Economy, Banking, Business, Investments
When your Thai wife passes her US situs assets (for instance US stocks/ETFs, cash held in a US brokerage account,...) will be subject to huge US estate tax. -
US Charles Schwab Residency?
Yumthai replied to BKKKevin's topic in Jobs, Economy, Banking, Business, Investments
What I mean is US situs assets held (through for instance a brokerage account) by a Thai spouse or any US non resident alien will be subject to significant US estate tax when she/he passes. -
US Charles Schwab Residency?
Yumthai replied to BKKKevin's topic in Jobs, Economy, Banking, Business, Investments
For non-US persons Thai residents there is however the quite substantial US estate tax (40% beyond $60K in US situs assets) issue that could be concerning for people who are eager to let something to their heirs. -
More Wise issues
Yumthai replied to CallumWK's topic in Jobs, Economy, Banking, Business, Investments
Crypto is the way.