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Thai government to reveal details of contested 10,000-baht digital wallet scheme
By
webfact
in Thailand News
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522
Introduction to Personal Income Tax in Thailand
You're right. In the US, if you owe taxes, but don't pay, or under pay, you're subject to fines. If, however, you've overwithheld on your income, or over paid estimated taxes -- and thus don't owe any taxes -- you're free not to file a tax return (unless some of your income is from self-employment). This is why I've got it set up, that when I die, the withholding on the income going to my wife will have a sufficient overwithholding pad to mean she owes no taxes. Thus, dear, you don't need to file anything. And that lost $400 in overwithholding is about what you'd have to pay to hire a US tax guy here in Thailand -- a nice wash, with no effort. The IRS will know, by her 1099s, what was withheld, and what was thus not owed. And the pad I've built in will cover any interest earned here in Thailand, which, of course, wouldn't have a 1099. For Thai taxes? Right now, her retirement income would be assessable, if remitted. But it's not remitted -- it's reinvested in the US. But, if we go to worldwide taxation, it would become taxable by Thailand -- and it exceeds 60,000 (the magic number for supposedly needing to file). But, after TEDA, it would be 400,000 short of being taxable income, i.e., no taxes owed, no tax evasion occurring. So, dear -- don't worry about filing a Thai tax return either. So, yeah, "tax enforcement is a significant risk" -- if you OWE taxes. If not, don't bother to file, unless you want the overwithholding refunded. Another case of "common sense." But, just to be safe -- I'll have my ashes scattered on the TRD parking lot. But, flippancy aside -- I really believe my tax plan for my wife -- who would be completely lost, even in gathering forms to give to a tax accountant -- is sound -- because if you don't owe any taxes, you haven't evaded taxation. Thus, no law infringement. And -- at least in the US -- there are absolutely no penalties for not filing, if no taxes owed (except self-employed). Thailand? Maybe an unlikely 2000 baht fine. Ho hum. -
206
Car recommendations
Not really ... and I recommended these, ICEV & Hybrid, since expressing interest in them. Same or cheaper than anything JP has made & badged here in TH. Along with outperforms. Yea, I'm an SAIC / MG fan, having owned 'made in TH' Toyota & Mazda, and wouldn't even consider again, along with other badged JP autos. -
23
Condo , no water 2 days
Condo has cleaners and Technicians on staff. They do all reguar building maintenance as well as chargeable services like clean condo, change water sqirt gun, change light bulb, unblock drain, etc -
50
Thai Tax Returns for Foreigners
Does the head of the TRD count as an authority? The Thai Revenue Department is drafting a law to tax the income of individuals residing in Thailand that originates from overseas. The draft follows the international principle of worldwide income under the residence rule, said Kulaya Tantitemit, the director-general of the department. https://www.bangkokpost.com/business/general/2860812/law-to-tax-income-from-overseas-in-the-works. -
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Non-B expiring whilst out of country
Yes, it is charged at the same rate as overstay, (but it is not an overstay charge), and yes you will receive a receipt, therefore allowing you to apply for a new extension. -
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Thai Tax Returns for Foreigners
That's how I see it as well. As does all the folks I talk to. -
169
observations about Trump
Trump Can Sue Regularly Because 'He Didn't Pay Most of His Lawyers,' Author of New Book on President Claims - Newsweek The Trump Files: Trump’s Long History of Getting Sued by His Own Lawyers – Mother Jones CNN This Morning with Kasie Hunt on X: ""He sues slightly more often than he's sued," says author James Zirin. His book 'Plaintiff in Chief' explores President Trump's litigation record. "Often, they work because people don't have the funds to defend against the Trump lawsuit." https://t.co/58rmtoG9BM https://t.co/rqW2TQHb7j" / X
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