Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[chiang mai]

51 minutes ago, sometimewoodworker said:

Woop-di-do

This is hardly big news nor any significant revelation, for months now many law firms have been quoting the letter of the TRD regulations, if asked, they will happily show you where it is listed in the TRD rules.

 

This is where there is a difference between a law firm and a tax accountant firm 

The law firm will follow the letter of the law and advise on that, (they cannot be wrong, but following their advice may well make you unpopular with the TRD)

The tax accountant will follow the requirements of the TRD officers they present accounts to and have been advised by.

Because this is Thailand it is not any revelation that the letter of the law and the practice are different 

 

You must decide which advice to follow, I am certainly not going to tell you which I am going to do, nor am I going to make any recommendations 

 

You conveniently forget the advice given by at least one of the big 4 major accounting firms, not the mention the personal advice given by numerous TRD officials.

 

But you do you, of course you are going to do that anyway 

I discount anecdotes when they are third and fourth hand, but feel free to post a link to any Big 4 firm or the TRD, confirming that foreigners don't have to file under the quoted circumstances. 

 

I would remind you that the supportive evidence on my side of the argument is the TRD Code and several law firms. To make me cross the line you'll need to exceed that in terms of quality and volume.

[Ben Zioner]

1 hour ago, anrcaccount said:

I'll agree that he talks a bit of BS ( even more later in the video re the Hong Kong stuff) , but I believe his examples I noted were factual, and I do agree with his views on the practical implementation of taxation of foreigners / foreign remittance.

Yes, it will be a cultural shock at the RD as well. Remember that over the past 40 years there were hundreds of thousands that could have been audited for their compliance to the seasoning rule. Has anyone heard of any of such cases?

[chiang mai]

1 minute ago, Ben Zioner said:

Yes, it will be a cultural shock at the RD as well. Remember that over the past 40 years there were hundreds of thousands that could have been audited for their compliance to the seasoning rule. Has anyone heard of any of such cases?

Why would we? Active membership of AN in the tax threads is well under a hundred whilst there are hundreds of thousands of western expats here.

[anrcaccount]

7 minutes ago, Ben Zioner said:

Yes, it will be a cultural shock at the RD as well. Remember that over the past 40 years there were hundreds of thousands that could have been audited for their compliance to the seasoning rule. Has anyone heard of any of such cases?

 

I doubt there has ever been any enforcement of the foreign income same year rule. Never heard of a case, and it is the type of thing that would 100% definitely create news in the expat community, had it ever occurred. 

 

I would go further than this, and wouldn't be surprised, if there has been little/no tax ever paid on foreign remitted income to Thailand. 

 

[JimGant]

1 hour ago, sometimewoodworker said:

Because this is Thailand it is not any revelation that the letter of the law and the practice are different 

Yes, ignoring laws that have no practical value is what most efficient organizations do. That I might be called in for a chat, 'cause I tripped some wire when I bought high priced air conditioners at Home Pro, with my credit card -- and credit card purchases are deemed assessable income by Siam Legal -- give me a break. TRD isn't stupid enough to waste resources to query Home Pro about large credit card purchases by farangs, and then have to research whether or not those farangs were tax residents -- with the highly probable result that non assessable cash paid the credit card bill. TRD certainly can do cost/benefit analyses -- and the above scenario certainly wouldn't  be a keeper.

 

No, I'll certainly risk a 2000 baht fine for not filing 'cause I have 120k in assessable income -- knowing full well the chances of an audit are slight. And, with no tax evasion, nothing serious could happen, even if an audit occurred.

 

Quote

It's black and white and it's a law firm telling us, foreigners must file if they have over 60/120k of assessable income.

Yeah, the same law firm that tells you you have assessable income using your foreign credit card in Thailand. That you're comfortable with their overall advice -- is ludicrous.

[chiang mai]

We're being asked to ignore the TRD Code and the written word of law firms, in favour of a couple of verbose farang posters who say they are right. Hmmm, difficult choice. If you could balance the scales a little in favour  of your argument by providing  written evidence from a reliable source to support what you say, that might help. But honestly, if it's just a few  farang posters against the evidence, I'm not hopefully for you. Oh yeah, telling me I'm stupid doesn't enhance your argument or your credibility so try hard and keep it civil.

[sometimewoodworker]

1 hour ago, chiang mai said:

I discount anecdotes when they are third and fourth hand, but feel free to post a link to any Big 4 firm or the TRD, confirming that foreigners don't have to file under the quoted circumstances. 

The advice was given from the(a) tax director of a big 4 company to me, so first hand. But as I said you do you

 

1 hour ago, chiang mai said:

 

I would remind you that the supportive evidence on my side of the argument is the TRD Code and several law firms. To make me cross the line you'll need to exceed that in terms of quality and volume.

I have no desire to change your mind and I’m certainly not bothered to do your leg work, nor have I any interest in changing your choice.

 

Again as I said law firms will give you the letter of the law.

You, following your Teutonic training, will choose as you see fit

 

I will do as over 40 year outside the rigours of the U.K. mindset will do as my experience suggests.

 

however do please continue to provide entertainment by posting the kinds of news that is no news, and getting on your elevated quadruped proclaiming news that is really output from said quadruped of solid matter from the end that doesn’t bite, but does kick.

Edited 1 hour ago by sometimewoodworker

[chiang mai]

2 minutes ago, sometimewoodworker said:

The advice was given from the(a) tax director of a big 4 company to me, so first hand. But as I said you do you

 

I have no desire to change your mind and I’m certainly not bothered to do your leg work, nor have I any interest in changing your choice.

 

Again as I said law firms will give you the letter of the law.

You, following your Teutonic training, will choose as you see fit

 

I will do as over 40 year outside the rigours of the U.K. mindset will do as my experience suggests.

 

however do please continue to provide entertainment by posting the kinds of news that is no news, and getting on your elevated quadruped proclaiming news that is really output from said quadruped of solid matter from the end that doesn’t bite, bit does kick.

So that's a nothing I presume....thank you for playing....next please.

[JimGant]

6 minutes ago, chiang mai said:

by providing  written evidence from a reliable source to support what you say,

What I say is common sense. But I have no problem with your desire to file a nil tax return, because the law says you have to due to exceeding the assessable income threshold. There's no "winner take all" with this discussion. The reader can see both sides of the argument, then decide to do whatever they're most comfortable with.