Taxation of foreighners in S/E Asia?

[ThaiPauly]

11 hours ago, jaywalker2 said:

Are they really going to start auditing foreign retirees bringing a few hundred thousand baht into the country each year? Considering the fact that only about 25 percent of Thais file income tax.

Actually  it's about 2% I've been told

[chiang mai]

1 minute ago, ThaiPauly said:

Actually  it's about 2% I've been told

In fact 11% file returns but only 6% pay tax, most who do so pay via a PAYE equivalent at work. 

[still kicking]

23 hours ago, swissie said:

Taxation of foreighners an issue in Thailand. As I gather from different news sources, Laos, Vietnam and Cambodia also tax foreighn income. Only the Philippines do not. True/False?

If true, no escape left.

Yes Home Country

[ThaiPauly]

New Prime Minister.....this  tax scheme may go down the toilet if the 10,000 baht wallet is scrapped  I think that is around 500 billion baht.

 

It's like if Anutin is elected pm the anti canibis act will more than likely be scrapped as it was Anutin who introduced in in the first place

 

We will see

[ThaiPauly]

4 minutes ago, chiang mai said:

In fact 11% file returns but only 6% pay tax, most who do so pay via a PAYE equivalent at work. 

Thank you for enlightening  me 

[chiang mai]

Just now, ThaiPauly said:

Thank you for enlightening  me 

Here's some more enlightening tax trivia with which to regale friends at cocktail parties, a sure ice breaker if ever there was one. 🙂

 

 

https://www.oecd.org/content/dam/oecd/en/topics/policy-sub-issues/global-tax-revenues/revenue-statistics-asia-and-pacific-thailand.pdf

[ThaiPauly]

11 hours ago, Henryford said:

It's a cheek to tax us here in Thailand. We have absolutely no rights, can not vote, can not buy land, i am on in effect an extended tourist visa which they can terminate at any time. I have to report like a criminal every 90 days. No chance of ever being a citizen. Yet they expect us to pay tax !!

Agreed

 

I want to buy a new car but worry that at the end of the year I will have to pay 25% tax on it!!!

 

So I will hold off until things become clearer

[ThaiPauly]

10 hours ago, chiang mai said:

Playing devils advocate.....did you think you could move here to live and not have to contribute directly to the construction and maintenance of roads, airports, public hospitals, the police force, the government, schools and universities?

No we should not as we already pay.

 

Private Hospitals  ( there would be a lot less if we were not here)

Car Tax  (pays for road construction)

Visas

Re entry permits

Entry to National Parks

Schooling  ( most foreigners use private schools for their kids)

 

Whoever wants to tax us also has to realize that if we are 10% worse off a year then so will the people that rely on us as customers.

 

I bet they have never given that a thought

Or that the Police would have less foreign motorists to fine.

[Pouatchee]

11 hours ago, Henryford said:

No chance of ever being a citizen. Yet they expect us to pay tax !!

 

ive said it over and over... 'no taxation without representation'. but where and how do we start to get representation?

[Celsius]

38 minutes ago, topt said:

For starters Just having a TIN doesn't obligate you to file a return.

 

UK tax return already has boxes to put where you are tax resident (if you are being honest)........and you do not have to give a TIN. 

If you are still saying you are resident for tax in the UK or haven't said you are not then HMRC are not going to know anyway - and yes I am aware of the days test.........

 

This is for Canada. I file a non resident tax every year in Canada. Bank still wants proof I am a non resident. I guess I have to get Thai tax number for all the wrong reasons.

[riclag]

40 minutes ago, topt said:

For starters Just having a TIN doesn't obligate you to file a return.

 

UK tax return already has boxes to put where you are tax resident (if you are being honest)........and you do not have to give a TIN. 

If you are still saying you are resident for tax in the UK or haven't said you are not then HMRC are not going to know anyway - and yes I am aware of the days test.........

Thank you  i have a usa residence , retired and married to a Thai , here in Thailand.

I collect a pension and Soc Security old age benefits and file a USA tax return and file a FBAR return .

After i hear or get sent correspondence from a reliable authority  I will continue to do the above, no more no less!

 

 

[KhunHeineken]

7 hours ago, Moonlover said:

 

How did you manage to turn a question into a suggestion?

I didn't.  I just pointed out your BS. 

[KhunHeineken]

7 hours ago, Yumthai said:

Easy workaround: do not remit money in your name to any local financial institution.

As another member pointed out, what about the 800k or 65k per month for your extension? 

 

That said, I'll be bringing back a wad of cash from the Singapore F1, but under the declarable amount.  Have a friend coming over towards the end of the year.  Might get him to bring some in as well. 

 

Who knows, there might be a new industry spring up similar to "visa runs" to the nearest boarder.  There might be a demand to cross the nearest boarder for a "cash run."  I'm sure the casinos would be happy to offer it as an extra service.  Nothing illegal, under the declarable amount.  

 

Could be funny having all these expats living in Thailand, with no money following through their bank account.  They must be working illegally, right?    

[Gottfrid]

11 hours ago, Moonlover said:

Yet another rumour monger. Where's your evidence Swissie?

 

Let's have your references.

You don´t want to see them, as it will take proctoscopy to find it. 😉 

[UWEB]

10 hours ago, brianthainess said:

No one has started paying tax on foreign income yet so I wouldn't worry yet.

Paying Taxes on remitted Money will not start before January 2025, that's why nobody has paid yet.

[stat]

On 8/14/2024 at 4:02 PM, swissie said:

Taxation of foreighners an issue in Thailand. As I gather from different news sources, Laos, Vietnam and Cambodia also tax foreighn income. Only the Philippines do not. True/False?

If true, no escape left.

Malaysia, Philippines, Nicaragua, Belize and others have no ww income taxation. Laos, Vietnam, Cambodia, Indonesia do have ww income taxation (in theory).

[Lorry]

14 hours ago, chiang mai said:

Playing devils advocate.....did you think you could move here to live and not have to contribute directly to the construction and maintenance of roads, airports, public hospitals, the police force, the government, schools and universities?

Not to forget, the security Thai police and  army provide.

[Jonathan Swift]

15 hours ago, Henryford said:

It's a cheek to tax us here in Thailand. We have absolutely no rights, can not vote, can not buy land, i am on in effect an extended tourist visa which they can terminate at any time. I have to report like a criminal every 90 days. No chance of ever being a citizen. Yet they expect us to pay tax !!

wasn't there a tea party somewhere in 1776 which protested "no taxation without representation"? Should we have a "Bangkok Tea Party"? maybe we could throw all the cannabis into the Chao Praya river. 

[EVENKEEL]

8 hours ago, riclag said:

Thank you  i have a usa residence , retired and married to a Thai , here in Thailand.

I collect a pension and Soc Security old age benefits and file a USA tax return and file a FBAR return .

After i hear or get sent correspondence from a reliable authority  I will continue to do the above, no more no less!

 

 

Same here. I truly believe all this was magnified by one persistent poster and his possee.

[Henryford]

11 hours ago, ThaiPauly said:

New Prime Minister.....this  tax scheme may go down the toilet if the 10,000 baht wallet is scrapped  I think that is around 500 billion baht.

 

It's like if Anutin is elected pm the anti canibis act will more than likely be scrapped as it was Anutin who introduced in in the first place

 

We will see

 

I wouldn't be surprised if that is why they got rid of srettha. They couldn't afford the 500 billion and there is too much money to be made from ganja.

[Henryford]

11 hours ago, ThaiPauly said:

Agreed

 

I want to buy a new car but worry that at the end of the year I will have to pay 25% tax on it!!!

 

So I will hold off until things become clearer

 

I can't believe expats will have to pay tax on cars/houses 25-35%. It would destroy the condo market and put a big dent in the auto industry.

[Ralf001]

23 hours ago, Henryford said:

It's a cheek to tax us here in Thailand. We have absolutely no rights, can not vote, can not buy land, i am on in effect an extended tourist visa which they can terminate at any time. I have to report like a criminal every 90 days. No chance of ever being a citizen. Yet they expect us to pay tax !!

 

It is enforcement of an existing tax law, Nothing new or cheeky.

[Ralf001]

11 hours ago, ThaiPauly said:

Agreed

 

I want to buy a new car but worry that at the end of the year I will have to pay 25% tax on it!!!

 

So I will hold off until things become clearer

 

do you have a Link to 25% car tax for foreigners ?

[Henryford]

6 minutes ago, Ralf001 said:

 

do you have a Link to 25% car tax for foreigners ?

 

I think he means if he remits the money to Thailand to buy the car he maybe will have to pay tax on the remittance (25% -35%).

[Moonlover]

5 hours ago, EVENKEEL said:

Same here. I truly believe all this was magnified by one persistent poster and his possee.

'No names, no pack drill' as we used to say in the military, but I'm pretty sure that I know who you mean and I agree with you.

[Everyman]

On 8/15/2024 at 9:47 AM, chiang mai said:

Playing devils advocate.....did you think you could move here to live and not have to contribute directly to the construction and maintenance of roads, airports, public hospitals, the police force, the government, schools and universities?

 

We already do, more than Thais because the government collects the bulk of its revenue from VAT, duties on imported goods and alcohol taxes. Foreigners spend more in all of those categories. 

[chiang mai]

9 minutes ago, Everyman said:

 

We already do, more than Thais because the government collects the bulk of its revenue from VAT, duties on imported goods and alcohol taxes. Foreigners spend more in all of those categories. 

https://www.oecd.org/content/dam/oecd/en/topics/policy-sub-issues/global-tax-revenues/revenue-statistics-asia-and-pacific-thailand.pdf

[Everyman]

13 minutes ago, chiang mai said:

https://www.oecd.org/content/dam/oecd/en/topics/policy-sub-issues/global-tax-revenues/revenue-statistics-asia-and-pacific-thailand.pdf

 

Um…yes. Exactly what I am saying. 

[swissie]

On 8/15/2024 at 4:46 AM, Moonlover said:

Yet another rumour monger. Where's your evidence Swissie?

 

Let's have your references.

An article of the largest newspaper in CH ("Blick"), concerning Expats in S/E Asia. About a week ago.

Also helpful: Look at post from "stat",

Quote: " Malaysia, Philippines, Nicaragua, Belize and others have no ww income taxation. Laos, Vietnam, Cambodia, Indonesia do have ww income taxation (in theory)".

 

[swissie]

Well, "the moral of the story can only be": Look before you leap. No sense to avoid taxes in Thailand, only to find out that the taxes in the "new country of my choice" are equal or even higher than in Thailand.