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27
Phuket netizens slam half-naked foreign man on red baht bus
Don´t worry! When they find their Issan girl there, they will spread over the country. They have done that for decades. -
169
what money is taxed 2024 ?
Thailand may indeed at sometime require foreign income to be reported, but if it does my opinion is that it will NOT be due to CRS. Here is a Revenue Thailand document, that provides information relevant to the Thailand implementation to follow CRS. https://www.rd.go.th/fileadmin/user_upload/FATCA_File/crs/Thailand_CRS_Guidance_280823.pdf Its pretty clear from that document that most of what CRS is trying to do is to minimize tax avoidance by businesses, as the details relevant to individuals is significantly less (although still relevant to individuals to minimize individual tax avoidance). Nowhere thou, in the Thailand RD document, does it state that information on foreign income will be collected by Thailand and provided to the CRS. Further, that Thai RD document also describes "Non reporting FI (Financial Institution)" which are not obligated to provide information on specific types of accounts to CRS. It even goes further in an Appendix to note neither retirement nor pension accounts nor 'non-retirement tax favoured' accounts need be reported (they are excluded from CRS reporting). Which infers such pension income, governed by the Thai government, need not be provided to CRS. I read the same with regard to Canada which I already noted. The logic here is that these (and their income) are already government monitored and hence CRS monitoring is NOT required. This just further confirms that opinions that state ALL global / foreign income must be reported to CRS ARE not substantiated, and its just an opinion, and further, possibly a fallacious opinion. Note thou, that TINs (tax information numbers) must be provided to OECD via CRS, but it is then up to CRS to ask for more information on income, if they wish. However they (CRS) may get NO INFORMATION on pensions and such even IF they (CRS) request such. Of interest in the Thailand document are the details where Thailand needs to provide the TIN information to CRS, where guidance is given to Financial Institutions on how they are to go about such. Don't get me wrong, ...I fully believe to follow tax laws in this world. Having typed that, I find NOTHING (in capital letters deliberately) to prove that OECD for the CRS requires all member countries to report the global (foreign plus local) income of their tax residents. Rather I find the opposite, where some resident accounts are even excluded from reporting to CRS. . -
470
Thai tax tangle: Expats warned of new rules on overseas income
In that case, I apologize as I thought you were ignoring the tax laws. -
4,102
LTR Visa is Now available for Long Term Residency
Actually I don't know... But what these two Tax accountants told you makes sense, and i'd be tempted to do so as it makes the exemption bullet proof for any given year, with minimal risk for those who earn only pensions, which is my case. Could you share who they are? feel free to PM if there are any forum rules against posting such info. Thanks -
19
[QUIZ]Emergencies!
I just completed this quiz. My Score 10/100 My Time 302 seconds -
27
Phuket netizens slam half-naked foreign man on red baht bus
Living here 12 years, it seems to get worse year after year. It amazes me how someone would go to a foreign ( country OTHER than theirs ) and act like a total arse!!! I vote to deport him and ban 5 years - although it happened IN Pattaya ...... Hummmm
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