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Thailand to tax residents’ foreign income irrespective of remittance


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2 minutes ago, jerrymahoney said:

I am not wealthy but I don't know that I'd want to live in any place I considered a cesspool

 

Neither would I, but I have a wife and daughter, until my wife comes around and gives up on this 'cesspool"......then I am stuck.

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5 minutes ago, spidermike007 said:

This is likely due to military intervention and influence on the kangaroo courts. Thailand is not a democracy. It is still an army ruled autocracy. 

Maybe so but you're still here living in what has been described above as a cesspool.

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12 minutes ago, Presnock said:

take cafe be safe

 

Yes every morning starting about 4 AM (sorry couldn't resist)

 

Also I will apologize a bit as I only came on here to give a re-cap of the US Ambassador's remarks to a small group of US citizens yesterday in UbonR.  Not to go into these quality-of-life issues.

Edited by jerrymahoney
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2 minutes ago, jerrymahoney said:

Yes every morning starting about 4 AM (sorry couldn't resist)

 

Also I will apologize a bit as I only came on here to give a re-cap of the US Ambassador's remarks to a small group of US citizens yesterday in UbonR.  Not to go into these quality-of-life issues.

I am an old fart and have very not-nimble fingers any more but according to Dr. Li the famous writing Harvard health expert, COFFEE is one of the most essential drinks for health!  so a cafe at 4 is great!  BTW any good stories about what the ambo said is his take on this TRD scheme?

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20 minutes ago, Presnock said:

I am an old fart and have very not-nimble fingers any more but according to Dr. Li the famous writing Harvard health expert, COFFEE is one of the most essential drinks for health!  so a cafe at 4 is great!  BTW any good stories about what the ambo said is his take on this TRD scheme?

First let me say that although I described the Ambassador as a pleasant gent above, I do not mean the to suggest he cannot be tough when required.

 

But really he said that they are deeply involved in the tax on remittance issue also as to DTA's but that he will respond with definitive answers only when he has them. He also remarked that the US Embassy in Bangkok is the largest US embassy in the world with about 7000 staff.

 

To add from the Embassy website (not his remarks)

 

The Economic Section monitors economic, financial, energy, trade, investment, and labor trends in Thailand. The team presents U.S. views on bilateral and multilateral economic issues to the Thai government and the public. 

Edited by jerrymahoney
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Just now, jerrymahoney said:

First let me say that although I described the Ambassador as a pleasant gent above, I do not mean the to suggest he cannot be tough when required.

 

But really he said that they are deeply involved in the tax on remittance issue also as to DTA's but that he will respond with definitive answers only when he has them. He also remarked that the US Embassy in Bangkok is the largest US embassy in the world with about 7000 staff.

Yeah, I worked there for 4 tours - thus decided on Thailand for retirement 20 years ago and haven't regretted it at all.  I still love it and do not have any anticipation of being affected by the either of these tax proposals that have come about but until I see the final print after the Gazette, I am relaxed.  But I do wonder about life under a BRICS leadership.  Does anyone have any clues if it would affect expats at all?  I don't know anyone who was in one of those countries first and then if life changed. Good luck.

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1 hour ago, jerrymahoney said:

First let me say that although I described the Ambassador as a pleasant gent above, I do not mean the to suggest he cannot be tough when required.

 

But really he said that they are deeply involved in the tax on remittance issue also as to DTA's

Without going into details, my experience tells me that one of the topics for discussion is the US providing training and technical assistance to the RTD to help them implement their proposed tax changes.  The US will readily agree to help the RTD.   

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1 hour ago, Presnock said:

Life goes on, first came here in 1972

Did you then work in the US Embassy, as you alluded to in an earlier post? My wife worked there then, before PanAm hired her away, to serve coffee and give blow-job demos in life jackets.

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11 minutes ago, JimGant said:

Did you then work in the US Embassy, as you alluded to in an earlier post? My wife worked there then, before PanAm hired her away, to serve coffee and give blow-job demos in life jackets.

yeah, 72-73 but mostly then upcountry, 76-79 78-2000 and 2003-2005 at the main bldg.  When was your wife there?

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1 minute ago, Presnock said:

yeah, 72-73 but mostly then upcountry, 76-79 78-2000 and 2003-2005 at the main bldg.  When was your wife there?

70-72. Her boyfriend then was Phil Mayhew, economics guy, then consul general for a year at Udorn, in 1972. He later returned to Thailand, and was DCM in, I believe, the years you mentioned. We attended his funeral at Arlington a few years back. Obviously, you were State Dept, which means you get no Social Security, which most readers probably don't understand. Also there in 72-73 was Victor Tomseth, who married another embassy worker, Wallapa. Victor was later DCM in Iran, when the hostage crisis hit. And later ambassador to Laos. Wife and Wallapa still keep in contact. Small world, eh?

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12 hours ago, JimGant said:

70-72. Her boyfriend then was Phil Mayhew, economics guy, then consul general for a year at Udorn, in 1972. He later returned to Thailand, and was DCM in, I believe, the years you mentioned. We attended his funeral at Arlington a few years back. Obviously, you were State Dept, which means you get no Social Security, which most readers probably don't understand. Also there in 72-73 was Victor Tomseth, who married another embassy worker, Wallapa. Victor was later DCM in Iran, when the hostage crisis hit. And later ambassador to Laos. Wife and Wallapa still keep in contact. Small world, eh?

Is definitely a small world especially when a group has members from within or around the diplomatic circles as though it may seem large it is actually a small world.  In those early years of being in Thailand, while assigned to the embassy I spent almost the full time as a tech rep to the airforce at NKP, thus knowing folks in the Embassy and still remembering them has faded away.  Later years in the Embassy I was an office chief and on the country team so would recall maybe the ambo and one or two of the other team members depending on interactions - I avoided most state political folks if possible.  I spent one tour in the old embassy bldg and two later tours in the new bldg.  The dip staff grew tremendously as did the locals numbers. I barely remember all those who worked for me let alone those I might occasionally interact with but one just never knows as some also belonged to the embassy golf club which I joined and played in all the tournments.  Some years I also played on the one of the softball teams we had and of course bowling teams too but while I might remember some of them if I saw them again who knows.  I have been in Thailand most of the  time since I retired in 2005 and have only met 3 folks

that I knew well enough to call them by name - met in immigration waiting room.  BTW, under the 1987 rule change, civil service changed to a new retirement system where by their retirement could also include social security.  I of course recommended my people to stay in CSRS as any change is to cut the benefits to save money but...to each their own.  I am expremely pleased with the benefits that my office provided me in my retirement and my wife will  enjoy that which she will get as I pass on before her (most likely).  I plan to remain in Thailand until....take care have a good one

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5 hours ago, MarkBR said:

Thailand needs to be careful.  All the people bring money, and spend their money will be gone especially those with wealth who do not have family links to Thailand.  

 

Exactly!

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On 6/28/2024 at 3:42 PM, Tonyfarang said:

and I've decided to move away immediately once they officially announce it

Out of curiosity, what country are you from? And, how much will your taxes increase, under either the new remittance system, or under the potential worldwide income method? Or will they increase at all?

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11 hours ago, MarkBR said:

-Thailand needs to be careful.  All the people bring money, and spend their money will be gone especially those with wealth who do not have family links to Thailand.  

 

I doubt very much that non-working expat bring a whole lot in the scheme of things, likely a drop in the bucket compared to tourism, and tourists don't give a rat's about what taxes expats pay. 

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