Jump to content

"New" Expat Income Tax Poll/Survey  

113 members have voted

You do not have permission to vote in this poll, or see the poll results. Please sign in or register to vote in this poll.

Recommended Posts

Posted (edited)

Since many/most of us are to be officially considered Thailand "tax residents", what's your plan of action:coffee1:

Edited by Skeptic7
Posted
22 minutes ago, BritManToo said:

My plan is to do nothing, and expect them to be too lazy and incompetent to notice me.

Exactly, good one.

  • Thumbs Up 2
Posted
12 minutes ago, JimHuaHin said:

Meanwhile, in Thailand .... the hub of hubs of hubs ...

Right on. The hub of verbal "hub-bub" :coffee1:

Posted
3 hours ago, Skeptic7 said:

Since many/most of us are to be officially considered Thailand "tax residents", what's your plan of action:coffee1:

My plan is to pray to God about this situation and then do the right thing and obey the laws of Thailand.

  • Haha 1
  • Agree 1
Posted
1 hour ago, JimHuaHin said:

Spot on TroubleandGrumpy.

 

For at least the past 50-odd years, whenever there have been changes to Australia's tax laws, policies, procedures, etc., the changes have been published in the media or in specialised tax publications (eg the annual Master Tax Guide, etc.), and for the last few decades on the ATO website.  So the average tax payer in Australia can access information on what changes are happening and how the changes will impact them.  And for some decades, tax information has been available in a number of "community" (read immigrant) languages.

 

Meanwhile, in Thailand .... the hub of hubs of hubs ....

Spot on. 

 

Thailand new tax rules:  Obfuscation Through Obscuration.

  • Thumbs Up 1
Posted

Thanks for the topic Skeptic7  I have moved your topic into the Jobs, Economy, Banking, Business, Investments forum where similar issues are already being discussed.

  • Thumbs Up 1
  • Thanks 1
Posted

I only have a US govt pension which according to the DTA is not assessible in Thailand plus I obtained the BOI LTR so am exempt on any foreign remittances so I will do nothing different unless they do add that even with nothing assessible, one who stays more than 180 MUST get a tax ID and in that case I will get an ID number IAW the new law which would have to be amended since it now states that one must get a tax ID number within 60 days after remitting assessible funds into Thailand.  I really do not believe they will be able to even begin processing all of the input from ex-pats and it will be interesting to hear how many Thais are actually affected if any.

  • Thumbs Up 1
Posted
1 hour ago, WhatMeWorry said:

My plan is to pray to God about this situation and then do the right thing and obey the laws of Thailand.

Which God please?

  • Thanks 1
Posted
1 hour ago, connda said:

I'm not doing anything. 

I've read the US DTA to determine what is taxable.  Actually nothing although Thailand could challenge me on my pension - my Social Security is untouchable via the DTA.  So I worked through the tax forms for my pension funds I remit to Thailand and worked out all of the exemptions.  I  don't remit anywhere near my Thai tax exemption threshold.  So - I'm doing nothing.  No plans to file unless I'm forced to.


What I'll probably end up doing is transferring more money to my US brokerage account and investing more of my pension instead of bringing it here.

So I plan to wait to see what 2025 brings and then reassess. 

 

 

Solid👍

  • Like 1
Posted (edited)
1 hour ago, Mike Teavee said:

I selected "Wait and see what happens. Take no action. Carry on same as before." as that's the closest option to what I'm doing but it's not really accurate as I'll be:-

  • Reducing how much money I bring into Thailand to ensure that I stay below the number where I might have to pay Tax
  • Remitting money directly to GF's bank account ensuring that she stays below the number where she might have to pay Tax
  • Taking more overseas holidays paid for on my UK credit cards & using the £7,500 I brought back from the UK with me as spending money there.
  • Spending down the savings I already have in Thailand   

Estimate I'll be bringing in approx. 25% of what I would normally bring in.  

Yeah was just keeping it simple. I'm taking same as your steps above...#1, #2 and #4. Thx for participating despite not being comprehensive...and for the excellent explanation. 👍

Edited by Skeptic7
  • Thumbs Up 1
Posted
2 hours ago, Mike Teavee said:

I selected "Wait and see what happens. Take no action. Carry on same as before." as that's the closest option to what I'm doing but it's not really accurate as I'll be:-

  • Reducing how much money I bring into Thailand to ensure that I stay below the number where I might have to pay Tax
  • Remitting money directly to GF's bank account ensuring that she stays below the number where she might have to pay Tax
  • Taking more overseas holidays paid for on my UK credit cards & using the £7,500 I brought back from the UK with me as spending money there.
  • Spending down the savings I already have in Thailand   

Estimate I'll be bringing in approx. 25% of what I would normally bring in.  

 

Agree with the above.  Spend down what I've already transferred in, any further transfers go via Wise to the wife's bank account.  She can then withdraw a monthly "salary" by ATM for me to spend locally.

 

I manage my investments to stay just below the taxable amount in the US.  Any tax here can not be claimed as a foreign tax credit on my US return, so I won't be able to "just get it back."

 

Major purchases requiring external funds will be delayed.........or cancelled.....pending how this clusterbomb is actualized.

 

If it's just a matter of limiting transfers in, that's manageable.  If it comes to providing certified copies of US tax returns at annual extension time, though.............

  • Agree 2
Posted (edited)

Interesting poll, in that there might actually be 50 or so members of AN that actually live in TH.

 

I guess we'll all be scrambling to the TRD when reports of fines are issued for not filing a tax return, whether tax due or not ...  :cheesy:

Edited by KhunLA
  • Like 1
Posted
34 minutes ago, KhunLA said:

Interesting poll, in that there might actually be 50 or so members of AN that actually live in TH.

bob smith  :whistling:

Posted
1 hour ago, connda said:

This is one thing that I've read and reread by expats in this forum regarding their future purchases of big ticket items -

Right on. Have been looking to spend around 3 million baht on a condo in the Jomtien area, however that plan has been flushed down the commode 🚽 due to this this very topic. Will just continue renting. Happy as hell I purchased my Ford last year. NO more high dollar purchases for me in LOP...Land of Pilfer. 🚫

  • Agree 1
Posted

Interesting to compare the results of this poll to the one we ran two weeks ago, wildly different results!

 

I see the expected Thai bashing posts from the usual suspects and also the longing for the warmth and safety of the nanny home state facilities. As an aside, I do wonder sometimes why some foreigners choose to live here when all they do is complain and tell us how much better things are back "home". But for the most part, it does look as though members have started to look into their personal tax situation, which is a good thing.

 

.

  • Haha 1
  • Agree 1
Posted
6 hours ago, mania said:

 

actually have a tax ID but only because years ago when Thai banks were giving 4% on savings I got taxed & was then allowed to reclaim it at the end of year.

 

Are you sure it is still applicable? I'm pretty sure there was a reorganization a few years ago with different numbers being issued.But I may be mistaken.

Posted
5 hours ago, KhunLA said:

Interesting poll, in that there might actually be 50 or so members of AN that actually live in TH.

The poll is pretty useless for the above reason. Personally I'm declaring as much tax as possible since I'm going through the citizenship process. More declared income = more points... So, why no "I'm paying as much tax as possible" option? Don't the 3 or 4 people like me count?

  • Confused 2
  • Haha 1
Posted
2 hours ago, Flummoxed said:

The poll is pretty useless for the above reason. Personally I'm declaring as much tax as possible since I'm going through the citizenship process. More declared income = more points... So, why no "I'm paying as much tax as possible" option? Don't the 3 or 4 people like me count?

Now that makes 2 of us who are "flummoxed". 🤣 

  • Agree 1

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.



  • Topics

  • Latest posts...

    1. 2

      Ellen DeGeneres Relocates to the U.K. After Trump’s Election Win

    2. 2

      Ellen DeGeneres Relocates to the U.K. After Trump’s Election Win

    3. 8

      Putin has vanished

    4. 2

      Ellen DeGeneres Relocates to the U.K. After Trump’s Election Win

    5. 0

      Shocking Online Threats: Trans Woman Targets JK Rowling and Nancy Mace in Call to Violence

    6. 0

      Europe Braces for Escalation: Germany Mobilizes NATO Troops Amid Putin's Nuclear Threats

    7. 0

      UK Parliament to Summon Elon Musk Over X’s Role in Social Media Controversies

    8. 0

      Jeremy Clarkson: Britain’s Unlikely Trump?

  • Popular in The Pub


×
×
  • Create New...