Popular Post sungod Posted January 6 Popular Post Share Posted January 6 1 minute ago, Mike Lister said: What, take it down to the money changer in small amounts from time to time or put it in the bank perhaps? Because whatever you do with it, the banks will record it as a foreign currency transaction and your passport will be required for that so everyone will know, who did what and when. Of course they will....... 2 2 Link to comment Share on other sites More sharing options...
Popular Post Liverpool Lou Posted January 6 Popular Post Share Posted January 6 1 hour ago, proton said: Can bring in up to $20k dollars in cash I believe, they can't tax that Foreign currency can be carried in without limit, and without it being taxed, but anything over $20k has to be declared. 3 Link to comment Share on other sites More sharing options...
Mike Lister Posted January 6 Share Posted January 6 1 minute ago, Liverpool Lou said: Foreign currency can be carried in without limit, and without it being taxed, but anything over $20k has to be declared. And the Customs Declaration presented to the bank, before it can be deposited. 4 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted January 6 Share Posted January 6 46 minutes ago, novacova said: If living here 180 days or longer during the year and generating untaxed income from abroad then taxes will be owed. No taxes will be owed on pensions, ssi or money that has already been taxed from abroad Thanks for clarifying something that has not even been clarified by the Revenue Department. Do you have a source in the RD? 1 Link to comment Share on other sites More sharing options...
Lacessit Posted January 6 Share Posted January 6 (edited) 1 hour ago, Mike Lister said: Potentially, downstream, the Immi Dept, the next time you go to extend your visa or exit the country, they may ask you for a tax clearance certificate, as they don in several countries, including the US. I am going back to Australia in late March. For 6 weeks. My extension is in early November. I may get nailed by the 180 day rule, maybe not. How does the Thai tax apply, when there is a double taxation agreement with Australia? Edited January 6 by Lacessit 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted January 6 Share Posted January 6 4 minutes ago, Mike Lister said: 5 minutes ago, Liverpool Lou said: Foreign currency can be carried in without limit, and without it being taxed, but anything over $20k has to be declared. And the Customs Declaration presented to the bank, before it can be deposited What? Link to comment Share on other sites More sharing options...
Mike Lister Posted January 6 Share Posted January 6 1 minute ago, Liverpool Lou said: What? Where? 1 Link to comment Share on other sites More sharing options...
Mike Lister Posted January 6 Share Posted January 6 16 minutes ago, Liverpool Lou said: What? My guess is that somebody will challenge my statement so I'll save you some time and effort! Each customer is allowed to deposit foreign banknotes to their FCD account at not more than USD15,000 or equivalent in other currencies per day or not more than the amount specified in documents showing that the funds are sourced from abroad, such as a currency declaration form with stamp and signature of a Customs official or evidence from businesses relating to foreign means of payment. https://www.kasikornbank.com/en/personal/account/pages/foreign-currency.aspx 1 1 Link to comment Share on other sites More sharing options...
Popular Post persimmon Posted January 6 Popular Post Share Posted January 6 Just exchange the £ $ at SuperRich or any of the other Xchange booths . If in small amounts it probably won`t be picked up . Or get someone else to do it with their passport . 2 1 Link to comment Share on other sites More sharing options...
Denim Posted January 6 Share Posted January 6 1 hour ago, impulse said: It was my understanding that they no longer allowed the amount to dip below the 400K (or 800) during the year. But that was reading in several years ago... Any idea what the rule is about tapping your 400K in between extensions? The 400,000 has to be in the bank for 2 full calendar months ( complete months, not one and 2 halves ) prior to the application for extension. Some offices ( but not all ) also require that the 400,000 does not dip below this amount during the under consideration period ( another month ). After approval you can use the money but 2 months before your next application the full amount has to be in the bank once again. Link to comment Share on other sites More sharing options...
JackGats Posted January 6 Share Posted January 6 3 hours ago, proton said: Can bring in up to $20k dollars in cash I believe, they can't tax that "Bringing into or taking out of Thailand baht banknotes in an amount exceeding THB 450,000 or foreign currency banknotes in an amount exceeding USD 15,000 or its equivalent requires a Customs declaration when entering or leaving the country." 1 Link to comment Share on other sites More sharing options...
Popular Post AlexRich Posted January 6 Popular Post Share Posted January 6 I don't think your question can be answered until the full details are published by the tax authorities. If you are a full time resident perhaps bring as little money in as you can until the tax rules become clear. 3 1 1 Link to comment Share on other sites More sharing options...
UKresonant Posted January 6 Share Posted January 6 9 hours ago, Lacessit said: I am going back to Australia in late March. For 6 weeks. My extension is in early November. I may get nailed by the 180 day rule, maybe not. How does the Thai tax apply, when there is a double taxation agreement with Australia? Depends what you bring into Thailand, if income, what type and source is the income originating from etc etc So as soon as you exceed 179 days in total any time within the Thai Tax Calendar year, your are tax resident in Thailand . some of it may be liable to Thai Tax... https://www.austlii.edu.au/au/other/dfat/treaties/1989/36.html Gov Pensions Article 19 Extract "2. Any pension paid to an individual in respect of services rendered in the discharge of governmental functions to one of the Contracting States or a political subdivision of that State or a local authority of that State shall be taxable only in that State..." Other Pensions Article 18 Extract "1. Subject to the provisions of Article 19, pensions and annuities paid to a resident of one of the Contracting States shall be taxable only in that State." At least you have Article 18, clearer than the UK DTA 1 Link to comment Share on other sites More sharing options...
ThaiFelix Posted January 7 Share Posted January 7 13 hours ago, Will B Good said: Just made that up.....haven't really got a clue on this matter. So its business as usuall lol! 1 1 Link to comment Share on other sites More sharing options...
fusion58 Posted January 7 Share Posted January 7 I plan on repatriating to my home country by the end of either June or July this year, so hopefully they won’t <deleted> with me on my way out the door… 🤞 1 Link to comment Share on other sites More sharing options...
tlcwaterfall Posted January 7 Share Posted January 7 11 hours ago, Mike Lister said: What, take it down to the money changer in small amounts from time to time or put it in the bank perhaps? Because whatever you do with it, the banks will record it as a foreign currency transaction and your passport will be required for that so everyone will know, who did what and when. Getting your wife/girlfriend to change the money is an option in the above case. 2 Link to comment Share on other sites More sharing options...
Mike Lister Posted January 7 Share Posted January 7 4 minutes ago, tlcwaterfall said: Getting your wife/girlfriend to change the money is an option in the above case. They still have tp show an ID card, that's even worse. 2 1 Link to comment Share on other sites More sharing options...
Popular Post tlcwaterfall Posted January 7 Popular Post Share Posted January 7 Just now, Mike Lister said: They still have tp show an ID card, that's even worse. As long as they remain under the tax threshold there should be no issue at all. 2 1 Link to comment Share on other sites More sharing options...
Popular Post novacova Posted January 7 Popular Post Share Posted January 7 12 hours ago, Mike Lister said: Potentially, downstream, the Immi Dept, the next time you go to extend your visa or exit the country, they may ask you for a tax clearance certificate, as they don in several countries, including the US. Nonsense, complete paranoid garbage. Go read the law. The close of the loophole is mainly for Thai and foreign residents generating income from abroad. The rest is just typical gossip incited by a lame news article. 1 1 1 1 Link to comment Share on other sites More sharing options...
retarius Posted January 7 Share Posted January 7 17 hours ago, impulse said: A little too early to spike it in the end zone. I'm going to wait until tax residents have to file a tax return (or don't have to...) It'll be months before we really know. Edit: Though, had the answer to the OP been "Yes", that would remove some suspense. To be honest, I'd be happy to file a tax return each year. We could chop down millions more trees to make it all happen. Seriously, all countries who have foreigners living there for more that 180 days make you file a tax return. I have lived in a few countries, mostly western and advanced economies, and always had to file a form. I never had to pay income taxes on any money transferred from abroad though. 1 Link to comment Share on other sites More sharing options...
Grumpy one Posted January 7 Share Posted January 7 16 hours ago, Celsius said: I was taxed 100% By my wife You aint no Robinson Crusoe when it comes to money and wives. Mine is up and ready to shop before the sun rises on pension day 1 Link to comment Share on other sites More sharing options...
Popular Post impulse Posted January 7 Popular Post Share Posted January 7 4 minutes ago, retarius said: To be honest, I'd be happy to file a tax return each year. We could chop down millions more trees to make it all happen. Seriously, all countries who have foreigners living there for more that 180 days make you file a tax return. I have lived in a few countries, mostly western and advanced economies, and always had to file a form. I never had to pay income taxes on any money transferred from abroad though. I'm only guessing here, but I doubt retirees will be affected much. The guys who are going to get hit are the offshore workers. (as in, work in 3rd country, not their home country and not where they reside) The ones that aren't paying tax on a huge portion of their income and used to get by claiming this is last year's money so they didn't pay tax when it arrived in Thailand. That provision never made sense to me, though I thought I understood who it was intended to shield. And it wasn't foreigners. But, that's just a guess. As I ponder my decision where to retire to, Mexico is looking better. Mostly because it's closer to home and Medicare. Pre-existing conditions prevent me from getting reliable, affordable insurance. 1 2 Link to comment Share on other sites More sharing options...
zombie nights Posted January 7 Share Posted January 7 (edited) 12 hours ago, Mike Lister said: Potentially, downstream, the Immi Dept, the next time you go to extend your visa or exit the country, they may ask you for a tax clearance certificate, as they don in several countries, including the US. We are now into 2024 and no one reports any such thing. And I do understand downstream. Edited January 7 by zombie nights Link to comment Share on other sites More sharing options...
Mike Lister Posted January 7 Share Posted January 7 32 minutes ago, novacova said: Nonsense, complete paranoid garbage. Go read the law. The close of the loophole is mainly for Thai and foreign residents generating income from abroad. The rest is just typical gossip incited by a lame news article. You do understand what the term "downstream" means, don't you. And since the US requires tax clearance certificates of Green Card holders, aka, non US folks living in the Us, is it really that far fetched! Link to comment Share on other sites More sharing options...
Mike Lister Posted January 7 Share Posted January 7 2 minutes ago, zombie nights said: We are now into 2024 and no one reports any such thing. READ WHAT I WROTE, not what you imagined! Link to comment Share on other sites More sharing options...
Popular Post 1FinickyOne Posted January 7 Popular Post Share Posted January 7 If you use a credit card to buy groceries or whatever - - and you pay that CC in your home country where it is issued but used for buying things here - is that considered bringing money into Thailand? My bank account at home includes SS, savings and stock market earnings... all mixed together. How would it be decided as to which funds are being used? Who is going to be able to keep track of these things 1 1 1 1 Link to comment Share on other sites More sharing options...
Popular Post zombie nights Posted January 7 Popular Post Share Posted January 7 Mike Lister: Please tell us your qualifications to give advice on Thai tax law? Answer: None at all! And stop posting ludicrous misinformation . Get a life please. 1 1 1 1 1 Link to comment Share on other sites More sharing options...
Popular Post sungod Posted January 7 Popular Post Share Posted January 7 2 minutes ago, zombie nights said: Mike Lister: Please tell us your qualifications to give advice on Thai tax law? Answer: None at all! And stop posting ludicrous misinformation . Get a life please. I think its called paranoia.......... 2 1 1 Link to comment Share on other sites More sharing options...
Mike Lister Posted January 7 Share Posted January 7 9 minutes ago, zombie nights said: We are now into 2024 and no one reports any such thing. And I do understand downstream. ZN........you can't edit your posts to answer a later question, it makes you appear not trustworthy!1! So, we didn't say this year, we definitely didn't say now, we didn't even imply next year or the year after. What we did was to imply that at some point in the future, date yet unknow, the likelihood is high. Now get your reading and comprehension skills sorted and stop wasting time with nonsense. 2 Link to comment Share on other sites More sharing options...
Happy happy Posted January 7 Share Posted January 7 1 minute ago, Mike Lister said: ZN........you can't edit your posts to answer a later question, it makes you appear not trustworthy!1! So, we didn't say this year, we definitely didn't say now, we didn't even imply next year or the year after. What we did was to imply that at some point in the future, date yet unknow, the likelihood is high. Now get your reading and comprehension skills sorted and stop wasting time with nonsense. Dear oh dear: Proving your paranoia. 1 Link to comment Share on other sites More sharing options...
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