Yumthai

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.

Indeed, I know how the things work here and it's fine for me as I play by Thai -informal- rules. Whining is out of question. What is weird is to keep seeing a bunch of long-term foreigner residents sticking to behave by western rules/mindset, like trying endlessly to fit a square into a circle mold.

In EU, US, and I guess the other OECD countries, tax residents (foreigners and citizens) get roughly the same rights/benefits. Which countries do you have in mind?

In most countries being tax resident as a foreigner will grant you the same rights and benefits as the nationals.

At extension renewal, how about the "800K maintained 2 months prior/3 months subsequent application" rule?

Nonsense. A TIN is not always mandatory for the simple reason that some countries do not issue TIN or do not required its residents to have one if they have no taxable income. For instance, a Thai tax resident can open a brokerage account with IBKR or Charles Schwab International without providing a TIN.

If life was that simple and straightforward everyone would end up millionaire. Good that recipe worked for you, however you do realize that unexpected events happen in most people's life achieving partly and often annihilating any long-term plan.

Well not everyone knows how to plant money trees.

Best post so far, you've well summed it up.

Sorry, I don't get out much and live a very simple life. I was referring to retirees here not the younger crowd. Are you not retired? You'll be surprised once again: most of the foreign retired community residing in Thailand does not have 20 years living expense in savings to live off.

I suggest you get out more and mix yourself with the real world.

Sounds like a "How To" educate a 5yo.

Do you like gambling? You have no assessable income as your foreign remittance is from pre-2024 income and you have the "Right to treat the 10% WHT as a final tax and exclude the dividend income from assessable income for personal income tax return filings, for dividend income derived from a Thailand company and 10% WHT is deducted from the dividend". https://sherrings.com/dividend-income-personal-income-tax-thailand.html

Do you consider yourself prudent?... and get your passport stamped illegally.

It seems you've well figured out your remittances and tax assessment, why would you need using an agent for?

You can't really compare Immigration rules that are duly enforced at each border crossing with Tax audit & collection that are not. So you've eventually changed up your mind as you've written multiple times you will use an agent to get the magic tax paper. Seems your persistent scaremongering efforts were not vain since you've achieved to auto-convince yourself.

58% sounds high to me. I guess many will change their mind and file when we get closer to the deadline. Who in his right mind wants to have potential future problems with TRD or Imm? 58% sounds low to me. The small sample surveyed by the Thai Examiner is certainly not representative of the foreigners diversity residing in Thailand.

This could only happen for people having been tax audited and penalized, their passport flagged until fines are paid. Individual tax audits are nowhere to be seen.

Being more proactive is not the way to go in Thailand. Sadly, one day or another they'll learn the hard way. Your doc will have been shadily obtained. In the very unlikely event you describe it'd be a matter of a couple of thousands at worst, certainly less than your agent fees. I'm fine with that.

That is surely TRD wishful thinking. In practice this is not enforceable, so as foreign credit cards spending. Are there any reports of gifts being re-qualified as assessable income because it has been proven to have somehow benefited the gifter? As you mentioned the THB20M gift tax-free threshold is a joke, why would they more care about how the gift money is spent. Not sure a Schwab International brokerage account (held by a non US person) can be funded from a third-party.

Sounds like a cheap fortune teller. Rather do nothing than frauding.

In that case replace the word "birth" by "marriage" and the magic will happen, amazing isn't it? There is no possible tax evasion by complying with the (gift) tax law.

How much would you have today if you had simply invested (and forget) in 1973 that 10% in an S&P 500 index fund?

Not if you have self-assessed you have no assessable income. IF an authority someday requires you something just be prepared and ready with your answers/docs/bribe (if it's your thing). For the giftee, source of fund is a gift. Birth certificate will prove how the gifter and the giftee are related, if ever asked during an unlikely audit. ... and still perfectly legal in Thailand when complying with the gift tax law.