Bangkok Stop Over

[oldcpu]

On 10/16/2024 at 1:39 PM, Thaindrew said:

 Thai RD data only comes from CRS, it tells them your remittances, it doesn't say which remittances are accessible or not (CRS doesn't know the detail of the funds behind every remittance, it knows income and remittance values), that will be the point of the tax return and any follow up that Thai RD conduct.  

 

A case in point - in some countries (Canada in particular) just because one does not have sufficient taxable income, does not mean one does not have to file a tax return.

 

In the case of Canada, as soon as one who is a resident to Canada earns income more than the 'personal exemption' that person has to file a Canadian income tax return.

 

Further, non-residents to Canada with Canadian income (such as pensions from Canada or small trivial amounts of interest from Canadian banks) are not entitled to 'personal exemption' and they also have to file a Canadian income tax return. 

 

My Thai wife has maintained a small bank account in Canada (kept from when she lived in Canada) , with interest less than $100 Cdn/year.  While she was living in Germany as a permanent resident, she went for some years without filing a Canadian tax return.  Revenue Canada subsequently contacted her in Germany and advised her she needed to file a Canadian tax return for all of the past years (where due to such low bank interest less than $100 Cdn she did not file a tax return).

 

Revenue Canada did not care if my wife claimed she did not earn enough money to pay Tax in Canada (as the withholding tax more than balanced out the small interest she obtained).

 

They didn't care.  They wanted the tax return !

 

Revenue Canada wanted to be THE organization that decided on Canadian tax - and not my wife's (accurate) assessment. And further they wanted to know all of her Global income and also as her spouse, know all of my Global income, as part of her Canadian tax return.  

 

I don't know the Thai RD view here (my hope is that the Thai RD view is more enlightened than Canada's) but I do know that there are countries (such as Canada) who want to make the decision as to whether one's income is taxable in a tax return EVERY YEAR and they do NOT want the non-resident individual (who has had some financial connection to Canada) , regardless of the amount earned in Canada, to make the decision whether to file a Canadian return or not file a return.

 

Edited 2 hours ago by oldcpu

[chiang mai]

The UK wants a tax return from me every year, even though no tax is due and even though the assessable income level is below the Personal Allowance. Now we hear that Canada wants the same things, all of which is in line with what the Thai tax law says. But of course, this all flies in the face of common sense, or at least so we are told!

[Yumthai]

2 minutes ago, chiang mai said:

The UK wants a tax return from me every year, even though no tax is due and even though the assessable income level is below the Personal Allowance. Now we hear that Canada wants the same things, all of which is in line with what the Thai tax law says. But of course, this all flies in the face of common sense, or at least so we are told!

This is surely common sense for governments that crave to collect more and more information on cattle people in order to control and milk them, sadly not for individuals who struggle for freedom in this world.

 

Fortunately Thailand is far behind in term of coercive power and real willingness to go the globalist route compare to CAN/UK/AUS/NZ/EU.

[NoDisplayName]

6 hours ago, wordchild said:

Through business I have got to know quite a few wealthy Thais with assets outside country.

 I wouldn’t claim to know, in detail, what their plans are ,

 

I am not at all concerned about how the latest proposed tax law will affect wealthy Thais.  After all, the laws are written by wealthy Thais, and will surely benefit them and their acquaintances.

[stat]

On 10/16/2024 at 11:43 AM, Johno57 said:

 the one thing you have going for you is the 6 month rule which also could come under scrutiny in the future..

What makes you think so? There are barely any countries in the world that tax you from day 1 so I call BS, sorry mate. You cannot backup your claim with anything.

[stat]

On 10/16/2024 at 3:18 AM, EVENKEEL said:

You show that there is talk of it, talk of proposals. 

 

I'm sure there is a minority of (big money) tax refugees residing in Thailand who don't pay taxes in their home country. As well as those Thais working overseas and bringing money home to Thailand. 

 

For the rest of us poor schmucks residing in Thailand, do you really think Thailand has the resources to track us?  Immigration has enough trouble making sense of my bank records for my extension. How on earth would they figure out my tax return from home country? I would think before the tax man tracks down foreigners they will start with the millions of Thais who don't file.

FYI there is no home country taxwise if you reside in Thailand so perfectly normal and legal to not pay taxes anywhere as TH is currently not taxing any ww unremitted income. There are a lot of people in TH with above 200K USD investment income. Just because everyone (me included) lives in a bubble and assumes everyone has roughly the same income this is not the case. You can buy 5 Mio USD mansions in Phuket and prices are going up there like a rocket.

 

Me on the other hand I always wonder why there are so many YT videos or discussion about beerprice differences of 20 Baht.

[stat]

On 10/16/2024 at 7:50 AM, Thaindrew said:

remittances are part of the CRS data the TRD gets from every bank that has your Thai address listed, this is already happening.

Resounding NO. CRS is about account balance and gross income (sales volume) not about remittances.

[stat]

On 10/16/2024 at 9:29 AM, chiang mai said:

That video has been poo pooh'ed wide and far, some  of the information in it is simply unreliable, as is the so called tax expert.

Correct the "tax expert" is not really an expert. The one thing i learned from this video is that no one knows if ATM remittances will be taxed as there are some people who doubt it.