Increasing the 800K baht requirement for retirement extension?

[JBChiangRai]

2 minutes ago, scubascuba3 said:

In 1998 wasn't the exchange rate baht\GBP about 80, so since then it's doubled in value, so twice as costly

Exchange rate to which currency?

 

Do you really think that they even considered that?

[david555]

19 minutes ago, scubascuba3 said:

In 1998 wasn't the exchange rate baht\GBP about 80, so since then it's doubled in value, so twice as costly

that is a private financials opinion .....so taking our own fincial capacity as mark  point ? ☺️

 

i wonder wy the girls higher Their prices then ? same for all other commecial things ☺️

Edited September 11, 2023 by david555

[scubascuba3]

41 minutes ago, david555 said:

that is a private financials opinion .....so taking our own fincial capacity as mark  point ? ☺️

 

i wonder wy the girls higher Their prices then ? same for all other commecial things ☺️

That doesn't make sense. Basically the 800k is twice as expensive as it was in 1998

[scubascuba3]

50 minutes ago, JBChiangRai said:

Exchange rate to which currency?

 

Do you really think that they even considered that?

I said GBP, happy for you to check the others

[JBChiangRai]

6 minutes ago, scubascuba3 said:

I said GBP, happy for you to check the others

I don’t believe the Thai authorities even considered any exchange rate, only the relative wealth to their own citizens they wanted to encourage.

 

If they increase the 800k, I think it’s more likely they would look at history and inflation and estimate what 800k would be worth today.

[david555]

24 minutes ago, JBChiangRai said:

I don’t believe the Thai authorities even considered any exchange rate, only the relative wealth to their own citizens they wanted to encourage.

 

If they increase the 800k, I think it’s more likely they would look at history and inflation and estimate what 800k would be worth today.

????

increasing 1000 000 to max 1200 000 would cover that long period of keeping 25 years long  same amount  of 800 000 thb.....a logicall increase

 

Besides it is still our own savings still.....

 And for the "no haves " or "not willing to keep on Th. Banks " ....only a slight more thb  to pay on agents  ????

[JBChiangRai]

10 minutes ago, david555 said:

????

increasing 1000 000 to max 1200 000 would cover that long period of keeping 25 years long  same amount  of 800 000 thb.....a logicall increase

 

Besides it is still our own savings still.....

 And for the "no haves " or "not willing to keep on Th. Banks " ....only a slight more thb  to pay on agents  ????

Quick & Dirty calculation looking at the US price of milk inflation, it's 1.72 times more expensive now than 26 years ago that would increase the 800k to 1,375k

[lamyai3]

51 minutes ago, JBChiangRai said:

I don’t believe the Thai authorities even considered any exchange rate, only the relative wealth to their own citizens they wanted to encourage.

 

If they increase the 800k, I think it’s more likely they would look at history and inflation and estimate what 800k would be worth today.

Unfortunately they seem to follow their own rules of logic. The 200k quadrupled to 800k in 2003. A few years later extension fees quadrupled, overstay daily rate nearly trebled. Mandatory insurance on Non O-A octupled after the first couple of years, and despite early assurances there was no grandfathering. Oh and the 20 year Elite just quintupled. 

[Lite Beer]

It is really hard to understand why this rumour topic is still running.

Unsubstantiated rumour.

[DrJack54]

This is a silly Scaremongering thread based on one vague statement from well know Thai official..

Everyone should chill. 

[Maestro]

Removed an off-topic post (this topic is not about "blue and yellow housebooks")

[oxo1947]

8 hours ago, Shop mak said:

If retirement would jump from 800k to 1,5 million, they would all have to move to another country.

Leaving the country---A little drastic when with an agent you can earn no pension...........

[Caldera]

5 hours ago, scubascuba3 said:

I said GBP, happy for you to check the others

Why would Thailand care about the GBP exchange rate, what's the relevance with regards to the purchasing power of a retiree in Thailand?

 

The result of the GBP's demise is, of course, that fewer people from the UK will be able to retire in Thailand in the future.

[scubascuba3]

4 hours ago, Caldera said:

Why would Thailand care about the GBP exchange rate, what's the relevance with regards to the purchasing power of a retiree in Thailand?

Of course you can't ignore exchange rates it's basic economics, other currencies will be similar, look it up

[scubascuba3]

9 hours ago, JBChiangRai said:

Quick & Dirty calculation looking at the US price of milk inflation

No one cares about US milk inflation 

[K2938]

https://www.thaienquirer.com/50744/thai-government-to-tax-all-income-from-abroad-for-tax-residents-starting-2024/

[TheAppletons]

Just now, K2938 said:

https://www.thaienquirer.com/50744/thai-government-to-tax-all-income-from-abroad-for-tax-residents-starting-2024/

"The program will begin January 1, 2024 and apply only to tax residents in Thailand meaning tourists and short term workers will be exempt. Also exempt will be those who have been taxed in a foreign country that has a standing Double Tax Agreement with Thailand."

 

Here's a list of countries that have a standing Double Tax Agreement with Thailand....for most people that are retired here, this won't be an issue:

 

https://www.rd.go.th/english/766.html

[hotandsticky]

On 9/11/2023 at 5:51 PM, JBChiangRai said:

Exchange rate to which currency?

 

Do you really think that they even considered that?

The clue in the post was GBP ????and, no, of course they wouldn't give a flying fart about that.

[Lemsta69]

38 minutes ago, TheAppletons said:

"The program will begin January 1, 2024 and apply only to tax residents in Thailand meaning tourists and short term workers will be exempt. Also exempt will be those who have been taxed in a foreign country that has a standing Double Tax Agreement with Thailand."

 

Here's a list of countries that have a standing Double Tax Agreement with Thailand....for most people that are retired here, this won't be an issue:

 

https://www.rd.go.th/english/766.html

Already being discussed here in Thailand News section:

 

https://aseannow.com/topic/1306896-thai-government-to-tax-all-income-from-abroad-for-tax-residents-starting-2024/