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Big crowds take to London streets to protest soaring costs
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13
My Thai Tax Office Tax Filing Experience...
Yes, but now you're planning to intentionally file an incorrect return. What happens if your return is chosen at random for audit? How do you answer why you only declared enough of your remittances to be under the taxable limit? That would send up the red smart flags, indicate tax evasion, and would potentially trigger a 5-year audit. This fortunately is one of the few areas that has been clearly defined. Savings prior to Jan 01,2024 is non-assessable. There are questions as to how that would be interpreted in relation to brokerage accounts, but if you have an actual savings account with a balance shown on a Dec 2023 statement, you're golden. **OPINION ONLY, NOT ADVICE. NOT AN EXPERT** -
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Midair Collision Near Reagan National Sends Plane into Potomac River
In a WH Press conference, long before any actual investigation and cause has been determined by actual experts, the new President has decided the DEI policies of the previous Administration are at fault for the crash. That is cold, and based on nothing. The clown has no clue what ATC officers were on duty, nor their background nor why and how they were appointed. He just has decided to use a tragedy as yet another political attack on anyone who isn't him. He's an absolutely vile excuse for a human being. Imagine how his idiotic comments have hurt family members of the deceased. -
46
700 Stray Dogs Starving in Thai Landfill - Rabies Fears Rise
Honestly, they should be captured and exported to other countries(e.g. Vietnam and China) where they consume these animals as food. If they do that, they can turn the nuisance into usable resource. As well as new income and employment opportunities will be created. -
53
Living in Thailand
I live in a small village on the edge of Udon Thani. I feel safe, worst problem are some territorial dogs. As far as crime goes not much in the village/city unless ostentatious displays of wealth. Yes, Yabba and drunks are around, but rarely a problem. I do know of some killings but these are nearly all Thai on Thai or loss of face (e.g. one farang fired his bar manager over missing money). Health and safety are not priorities here. Several people in the village have died in road accidents, a couple of drownings and electrocutions. Just treat all road use as needing extra vigilance - and avoid using motorbikes. In the UK, over the years my home was burgled 4 times over a 40 year period - it is like a tax. I know of people who have been mugged or assaulted for no reason. Better off in Thailand -
18
"Foreighn Income" and your Thai Accountant.
Thailand is not Europe. Its very difficult to hold a Thai lawyer responsible for any advice they give - so with an accountant, you've no chance. Of course, employing an decent accountant should result in your tax return being correct but I'm pretty sure that if its not - ultimately you will be the one held responsible. -
13
My Thai Tax Office Tax Filing Experience...
Thank you, everyone, for your feedback. Sorry for my lengthy reply to follow, but I’ll do my best to address all your questions in one go and then share a few additional thoughts I’ve gathered after reading everything you’ve all written. Of course, anything I decide to do with my tax situation is based on my own circumstances and is not necessarily the right approach for others, so none of this is intended to be advice, just sharing my ideas. Now that I understand there’s no specific section on the tax form to claim taxes already paid on overseas-earned income (such as using section 11, line 13 to claim a foreign tax credit), I’ve now decided to avoid transferring any money this year that exceeds the tax-exempt threshold. Instead, I’ll transfer in only the maximum tax-free amount, as I did last year, and reassess the situation moving forward. I wouldn’t want to find myself in a situation next year where I unexpectedly owe a bunch of taxes on money I transferred in this year. Hopefully, by 2026, there will be clearer guidelines on how to claim foreign taxes already paid under double taxation treaties and then maybe I will bring in more again in the future. I now have a better understanding of what qualifies as non-accessible income. Since my income is not from a pension, it is entirely accessible. Additionally, while savings accumulated from prior years may be considered non-accessible and not subject to tax in Thailand, I wouldn’t personally attempt to claim money brought in as past savings to avoid taxation. That seems like a gray area I’d rather not try to navigate with the possibility of the claim being outright rejected, even with proper bank documentation, so I’ll avoid doing that going forward as well. It seems risky though not to file a tax return at all, especially for the next few years, even if all of one’s income is considered non-accessible. If I were in that situation, I’d still attempt to report a certain amount of it as accessible income if at all possible, keeping it below the taxable threshold, but in order to at least demonstrate compliance with filing and avoid drawing unnecessary attention otherwise. I’ve heard of people who exclusively use overseas debit cards and carry only cash in and out of the country, never using local banks or transfers. However, I don’t think that’s a viable long-term strategy either. Making inward transfers and declaring some income seems like the best approach, as otherwise, one might risk being questioned about how they sustain themselves in Thailand without any reported income at all, no local bank balances, and no inward transfers. Of course, there are legitimate reasons for handling finances this way that are not illegal, but I believe it’s a conversation best avoided by simply following expected standards, transferring some money in, and filing a tax return. That’s just my perspective and the approach I would take in that situation but again, everyone’s situation is different. As for the bank statements the tax officer suggested I submit, my bank only provides monthly statements, not annual consolidated ones. Initially, I only requested statements from the bank for the months with incoming transfers, assuming that would be sufficient. However, I later realized that submitting only selected months might raise questions later about whether I’m withholding information about incoming transfers from the other months not submitted. To avoid any suspicion, I’ll request the remaining statements from my bank and then submit all 12 months of statements as supporting documents when I file my tax return. I also decided not to request a tax refund for the interest withheld on my bank interest earnings in Thailand from last year. Given the small amount I’d receive, I believe it’s best not to draw any unnecessary attention in that area. In my opinion, the effort isn’t worth the potential scrutiny and diminishing returns. Regarding the language I used when speaking at the tax office, I conducted all discussions in Thai, as I’m fortunate to be proficient enough to do so. To be honest, I’m not sure how far I would’ve gotten though if I had been attempting to discuss these matters with them in English.
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