Yumthai
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Everything posted by Yumthai
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OK, how much do you think will an agent charge to get one? 1K THB?
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Thailand Moves Closer to Wealth Tax with New Asset Tracking
Yumthai replied to webfact's topic in Thailand News
I'm very fine with VAT/Sales taxes as it goes with my spending. -
Thailand Moves Closer to Wealth Tax with New Asset Tracking
Yumthai replied to webfact's topic in Thailand News
Claiming anything to your nanny state is useless, Thailand is a sovereign country. As I said, I don't mind discrimination just don't ask me to pay the same fair share of tax. -
Thailand Moves Closer to Wealth Tax with New Asset Tracking
Yumthai replied to webfact's topic in Thailand News
Most of civilized countries (the West mainly) give equally the same rights to its permanent residents regardless of citizenship. But what's your point? Because some countries discriminate its residents then it's OK? -
Thailand Moves Closer to Wealth Tax with New Asset Tracking
Yumthai replied to webfact's topic in Thailand News
As a taxpayer one expects to be treated equally. Not the case in Thailand where foreigners (except to some degree permanent residents) do not have the same rights/benefits as citizens. Differences are not an issue should they also be fairly reflected over the tax rules. -
So basically just tell TRD your remittances are exempted and bingo no tax to pay. No supporting docs asked, no further question. I wonder why people worry.
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Indeed, I don't think the people in charge in Thailand are that dumb unlike some posters imply. Au contraire, they are smart enough to milk with no effort the small worried crowd who obediently run to the tax office, with the help of few activist collaborators.
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You're underestimating the repercussions of such drastic tax move. The main reason Thailand won't strictly enforce tax on foreigners' foreign sourced income is not because it's too difficult to collect but rather because of the consequences, economically and politically.
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Getting anything in writing today won't protect you from a simple "Rules have changed" later reply, as at each yearly extension of stay renewal where requirements are inconsistent.
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It seems you forgot to switch off looping mode.
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Some people don't like to bend, others bend even further. To each their own taste.
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You can certainly figure out that some people either do not have 800K to uselessly lock in a Thai bank account or can just make this money work at much better rate abroad.
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It would just become another business for agents.
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TIN number and how do I apply for one.
Yumthai replied to mickmac's topic in Jobs, Economy, Banking, Business, Investments
Thank you for your kind warning, it will be taken with the highest consideration. -
Sure. My point is Financial Institutions may incur legal penalties for non-compliance with the CRS regulations, individuals not. Individuals won't face legal penalties either, other than possibly account restrictions/closure, for not willing to file the CRS form presented by their banks. Therefore, individuals are not required to directly/strictly comply with CRS.
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Please elaborate. CRS rules apply to FIs. FIs (may) try to make their customers comply with what CRS require them. Individuals are free to comply or not (with/without consequences) with their FIs policy/requirements.
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And they rightly do as CRS rules only concern financial institutions not individuals.
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OK so just be coherent. Why bothering to file a tax return as you're already being rogue with Immigration and you agree yourself that tax enforcement is non-existent?
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... sleep well with an extension of stay stamped in your passport illegally obtained through an agent. It seems you're rolling the dice as well.
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world wide income taxation update
Yumthai replied to Presnock's topic in Jobs, Economy, Banking, Business, Investments
This won't stop tomorrow, and the few worried foreigners running to pay tax will hardly compensate the tax loss. -
Most probably because these countries use true residence-based taxation, along with efficient tax department, where all foreign sourced income has to be declared. Thailand is also categorized as residence-based taxation but with an important twist: "only if the income is remitted to Thailand". https://en.wikipedia.org/wiki/International_taxation
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What's the point of stricter reporting if it's not to eventually collect more tax? DTA's certainly do not cover all remitted money and countries. You're confused.
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Nobody has a clue about what's gonna happen forward. You keep repeating, with few other legalists and doomsters, that Thailand will start strict tax collection is inevitable. Fair enough. Now, just accept that others think that such tax crackdowns somehow won't happen (for many valid reasons) and have made their decisions accordingly.
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Maybe because non tax residents with local income should declare and pay tax too.
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Ditto. From now on everyone please do not be contrarian with CM. Health matters first.
