New tax era in Thailand begins as Revenue now shares data with 138 countries within the OECD

[VocalNeal]

3 minutes ago, Gknrd said:

So basically you sell your house in the US.

 

Would that be classed as income, capital gain, or windfall?

[Gknrd]

43 minutes ago, VocalNeal said:

 

Would that be classed as income, capital gain, or windfall?

I would classify it as a huge mistake. But, if I sold mine it would be a huge capital gain.

In Thailand for the wife or GF it would be classified as a windfall... haha

Edited January 20 by Gknrd

[stat]

On 1/20/2024 at 2:07 PM, VocalNeal said:

 

Would that be classed as income, capital gain, or windfall?

You would have to pay the normal income tax on it, if the directive will be applied as planed (big if I agree)

Edited January 22 by stat

[sidneybear]

She can inspect my taxes personally any time she wants.

[paddypower]

On 1/16/2024 at 5:26 PM, topt said:

Not sure where you are from but I was never aware of UK onshore banks marketing themselves to expats. In fact most of the "big banks" as you call them, as well as some smaller ones, have a separate off shore presence specifically for expats and others who need those services. 

 

Most UK banks have clauses about being resident and or UK addresses in their Ts and Cs. Whilst I don't disagree with you that many need the services of a UK bank the offshore subsidiaries can perform that role all be it at a cost....

 

Unfortunately for the poster you replied to Barclays have specifically stated not that long ago that, after a review, they would be closing many of the accounts where residence was not in the UK.

One article -

 https://www.retailbankerinternational.com/news/barclays-to-close-thousands-of-expats-accounts/?cf-view

 

I just consider myself fortunate to be with another bank but who knows........

interesting.Our Canadian, Irish and Danish banks have not indicated they will do this. 2 interesting side issues: Danish banks receiving only pension payments now charge a monthly flat fee. They call it something ridiculous, along the lines of a 'citizens benefit fee' (seriously!). Most Irish and Canadian bank provide ''golden age'' (ie over 65)  services - zero fees. The expat Danes we know have voted with their feet - arranged for the Danish Govt to send the pension payments to their home country bank. We know several US expats here, who have the misfortune to bank at Wells Fargo. One just flew back to the US to switch banking arrangements for SS payments.