Thailand Probes Thaksin's Alleged Political Manipulation

[Yumthai]

3 minutes ago, chiang mai said:

If I live in Bangkok and remit overseas funds to pay my rent, later I stop remitting funds and charge my rent to my UK Barclaycard and reduce my annual remittances by a corresponding amount, I just committed tax evasion, if I didn't declare the charges.

Borrowing money to pay your rent is tax evasion if using a credit card but it would be ok if a relative lends you money?

[chiang mai]

99% of what is currently understood by members about Thai tax rules must be regarded as unconfirmed on that basis because none of the code refers specifically to foreigners.....a stupid word game that has no place here.

[chiang mai]

11 minutes ago, Yumthai said:

Borrowing money to pay your rent is tax evasion if using a credit card but it would be ok if a relative lends you money?

The cc transaction was made in Thailand, the relatives gift or loan to you was not. When you charged your rent to your cc in Thailand, you entered into a contract with the Thai landlord and your cc company.

 

Later, I'm now out and about 

Edited 2 hours ago by chiang mai

[chiang mai]

And before someone goes there, it goes without saying that all of this is subject to the funds used to pay the cc bill, being assessable.

[Yumthai]

16 minutes ago, chiang mai said:

The cc transaction was made in Thailand, the relatives gift or loan to you was not. When you charged your rent to your cc in Thailand, you entered into a contract with the Thai landlord and your cc company.

 

The loan could be from a third-party in Thailand, rent could even been paid directly to the landlord by someone else. I know people in Thailand mainly locals who have their rent directly paid by their parents/relatives/friends/boss.

[chiang mai]

1 minute ago, Yumthai said:

The loan could be from a third-party in Thailand, rent could even been paid directly to the landlord by someone else. I know people in Thailand mainly locals who have their rent directly paid by their parents/relatives/friends/boss.

You are no longer discussing the assessability of cc transaction and are instead exploring ways to evade tax.

[Yumthai]

Just now, chiang mai said:

You are no longer discussing the assessability of cc transaction and are instead exploring ways to evade tax.

I'm just commenting on you rent example about what's happening in the reality.

 

To me, a credit card bill remains a loan, then not assessable, as long as it is not refunded with assessable income.

[chiang mai]

2 minutes ago, Yumthai said:

I'm just commenting on you rent example about what's happening in the reality.

 

To me, a credit card bill remains a loan, then not assessable, as long as it is not refunded with assessable income.

And if it is funded with assessable income?

[Yumthai]

1 minute ago, chiang mai said:

And if it is funded with assessable income?

IMO It's assessable if funded with assessable income within the same tax year.

[JimGant]

7 minutes ago, chiang mai said:

The cc transaction was made in Thailand, the relatives gift or loan to you was not.

So what? The landlord received his money in both cases -- in one case, he was paid with a loan from the bank to the tenant; in the other, he was paid by a loan from a relative to the tenant. The TRD only wants to know the source of that cash flow, not how it ends up. And both of these situations are loans.  And by the way -- revolving credit is still a loan: Revolving credit lets you borrow money up to a maximum credit limit, pay it back over time and borrow again as needed. If, as you say, it is not a loan -- then what is it? Certainly not assessable income.

 

Not sure how you differentiate between borrowing money from my bank to buy a cheeseburger, using my Visa credit card -- and borrowing money from the same bank, to send to Thailand to buy a condo....

 

Having said that, using a debit card, like an ATM card, is a direct pull from your financial institution, and thus may be assessable income, depending on the source of those monies in your financial account. Thus, debit cards are certainly different from credit cards, or should be, in the eyes of the TRD.

[chiang mai]

8 minutes ago, Yumthai said:

IMO It's assessable if funded with assessable income within the same tax year.

Don't know what bearing current year has but also don't know what point you're debating since that is what I have said from the outset

[JimGant]

21 minutes ago, chiang mai said:

And if it is funded with assessable income?

What if I take out a 30 year loan and send it to Thailand to buy a condo. And I pay it back the next 30 years using monies that, if remitted to Thailand, would be assessable. But they're not remitted. Are you implying that that remitted loan to Thailand is actually assessable income, 'cause it will eventually be paid back by monies that should be considered ersatz remitted assessable income?