Yumthai

What makes you think that doing P2P crypto exchange is illegal in Thailand? No such law.

As long as they are not enforced or can be bypassed by timely workarounds, rules are not an issue.

As a true sovereign country Thailand will follow their own rules as they've always done, somewhat pretending complying with whatever foreign authorities "require" from them. Smokes and mirrors.

Bank policy. Opening a non-resident bank account is perfectly legal in Thailand. However, if successful, most Thai banks will open a resident account while on tourist visa/exemption.

So you're implying remittances forwarded to construction companies (within X days?), car dealers and by extension any Thai company dissociated from the remitter would be -illegally- considered non assessable income by TRD since beneficial for Thai economy. Interesting. I think TRD will not start screening bank accounts remittances and ask questions more than they ever did before, simply because they are not capable or willing to deal with all multiple and inconsistent tax and country DTAs rules plus foreign documentation they can't check.

Then that's a false statement as you can't provide a proof of residence. In that case why not randomly picking up any of the countries in the list. In real who cares as nobody will check or ask for a proof.

How much % do you assess people who remit undeclared several millions -truly tax-exempted or not- to buy property in Thailand will be likely to be audited? That's a bunch of people (Thais and foreigners alike).

You have the right to have your opinion. It reminds me all those naysayers in the 90's castigating about Internet.

Wider your perspective and do your homework. Bitcoin is certainly not meant to replace Fiat currencies for daily payments, other blockchain technologies are/will be much more efficient for that use.

The fact that you don't understand the utility of Bitcoin does not make it useless.

You surely be more successful adding same-gender services.

Taxes are targeted to the middle-class complying sheep. People who are wealthy enough to invest substantial money somehow do not pay taxes. That is so obvious for them it's unnecessary to mention it.

You can't provide a TIN if you don't pay tax. That's what I told my EU bank filling their FATCA CRS self-certification form, and they are very fine with that.

You're underestimating the weight of the informal economy that remains totally untaxed. There's certainly a substantial number of Thais that should pay taxes all income considered but don't (declare).

In absolute more Thais are eligible to pay taxes than foreigners.

Yes Thais don't worry about taxes, it's a farang hobby.

That is a wet dream. If there is one single report of average Joe foreigner being audited and penalized because he's remitted few millions THB to buy a property or just maintain his lifestyle in Thailand, a massive exodus of these middle to high spenders residents is to be expected.

Writing rules and speaking out loud is easy.

TRD has never checked in the past if remitted money was earned or not during the same year. It's unreal to think they're gonna now magically be able and willing to check the tax assessibility (knowing perfectly all tax exemptions/DTAs) of all foreign remittances of their (millions of) tax residents.

You can't compare a process that is clearly understandable, straightforward and everyone has to pass through with another process where rules are blur and inconsistent (even more for the authority) with no systematic control.

Completely compliant with remittance guidelines. No Thai tax payable on remittance of capital. IMO This is unlikely to happen but one could argue TRD could ask and check source of funds history if they are aware the asset you sold was bought in the same calendar tax year (for instance all transactions appear on a brokerage account statement).

Then, since you have several millions THB saved in Thai banks tax should be the least of your concerns for a (long) while.

So why on earth are you suggesting a modest flat tax rate for all those who can't afford an LTR or avoid the taxes? Does it sound fair to you?

So you acknowledge that, with LTR visa, Thailand is blatantly and openly laughing at us telling: "Hey foreigner, if you are wealthy enough you can reside in our beautiful country tax-free on your foreign remittances, otherwise -if you're too poor- you'll have to file and pay taxes (potentially up to 35%) as any other resident." You say you don't want to pay taxes either but, as you apparently can't meet LTR financial requirements, you're suggesting that all the other less privileged slaves resign to accept their fate by paying a modest flat tax in all fairness. Am I getting it right?

Gifting in Thailand is still a legal tax loophole, as much as getting a loan from your offshore assets as collateral or getting an LTR visa that exempts from tax your foreign sourced remittances.