Latest developments and discussion of recent events in the Ukraine War

[SportRider]

In related news, expats are urged not to get stressed out about their home being hit by an iceberg. 

[newnative]

  Yet another totally misleading and inaccurate headline designed, I imagine, solely to get AN readers to click on this time-wasting, utterly irrelevant article.  

[black tabby12345]

1 hour ago, KhunBENQ said:

Again wasted time for a useless rubbish and misleading headline. Some human intelligence would do good.

 

The above article is one of the Worst Stupid/Meaningless ones I have ever read.

Just don't understand What The Editor Wrote It For.

That writer raised the Nonsense to the Art Form.

[patman30]

6 hours ago, webfact said:

The real purpose behind NIT is to substantially increase Thailand's taxpayer base,

the only line worth reading.

[Presnock]

4 hours ago, Surasak said:

Similar in the UK. The number of people claiming benefits, who have never worked and never intend to, are better off than the person on minimum wages.

A sad state of affairs for sure I recall walking by a house provided by welfare from the city, for a woman with 10 kids, she had never been married, each kid had a different father and each time a new birth, the welfare folks increased her monthly stipend.  Her house was bigger and nicer than the one I grew up in.  I am totally against welfare and providing a "lIving amount" for this kind of person.  Once one gets away with it, then there is  standing line outside the welfare office for those that quit working for a living, just show up at job interviews, look like crap, dress like crap, talk like crap so you don't get hired, the only requirement is you have to actively be looking for employment..what a sad joke on Joe Citizen paying taxes on low wages.

[Cabradelmar]

9 hours ago, webfact said:

The real purpose behind NIT is to substantially increase Thailand's taxpayer base, which currently stands at less than 30%.

What's interesting about this, for me, is this is the first time I've ever seen a percent put on the size of the THA tax base. Only 30% of Thais pay PI taxes! That's wild. It's a small miracle THA can afford to pay for what infrastructure and government services they have now. Plus, given the number of government employees (including military and police), and the number of people in "above board" industries (like branded retail, large hotels education, healthcare and banking), that that 30% estimate is embarrassingly low, and a complete failure of the government's fiscal responsibility. And, it would seem that it's more than just those in the informal economy - e.g.,  farming, day laborers, street vendors, sole proprietorships, etc., who are not paying their PI taxes.

[BritManToo]

11 minutes ago, Cabradelmar said:

What's interesting about this, for me, is this is the first time I've ever seen a percent put on the size of the THA tax base. Only 30% of Thais pay PI taxes! That's wild. It's a small miracle THA can afford to pay for what infrastructure and government services they have now. Plus, given the number of government employees (including military and police), and the number of people in "above board" industries (like branded retail, large hotels education, healthcare and banking), that that 30% estimate is embarrassingly low, and a complete failure of the government's fiscal responsibility. And, it would seem that it's more than just those in the informal economy - e.g.,  farming, day laborers, street vendors, sole proprietorships, etc., who are not paying their PI taxes.

You're forgetting VAT on almost everything, business tax, and import duties on anything from the western world.

[hunkidori]

And yet all the scaremongers amongst us would have us all believe we were to be taxed for this and need to declare that. What a load of crap, I've thought all along it will all come to nothing and I still do.

 

We all know why some of the self proclaimed experts would have us believe the nonsense. Wouldn't trust any of them.

[ElwoodP]

Topic is NIT (negative income tax).

Nothing to do with foreigners filing Thai tax returns.

Please stay on topic.

[Captor]

We are worried about the other new tax!

[Ben Zioner]

5 hours ago, chiang mai said:

Nonsense and spin of what I wrote!

 

Adoption of negative income tax doesn't affect how much or how little tax I pay here, that's a totally separate issue. Don't adopt NIT and I pay X in Thai tax, adopt NIT and I still pay X in Thai tax.

Bear in mind that to redistribute more one has to collect even more.

[VBF]

4 hours ago, newnative said:

  Yet another totally misleading and inaccurate headline designed, I imagine, solely to get AN readers to click on this time-wasting, utterly irrelevant article.  

Agreed....and we all fell for it 😆

The OP says "Deputy Finance Minister Julapun Amornvivat, a supporter of NIT, has indicated that formal implementation might be several years away"

In other words, several governments away. 🙄

 

And, just to be serious for a moment, such a scheme could / should provide assistance / benefits for needy Thai people. Most Western countries have such schemes which are used by many and abused by some!

[chiang mai]

1 hour ago, Cabradelmar said:

What's interesting about this, for me, is this is the first time I've ever seen a percent put on the size of the THA tax base. Only 30% of Thais pay PI taxes! That's wild. It's a small miracle THA can afford to pay for what infrastructure and government services they have now. Plus, given the number of government employees (including military and police), and the number of people in "above board" industries (like branded retail, large hotels education, healthcare and banking), that that 30% estimate is embarrassingly low, and a complete failure of the government's fiscal responsibility. And, it would seem that it's more than just those in the informal economy - e.g.,  farming, day laborers, street vendors, sole proprietorships, etc., who are not paying their PI taxes.

I don't know what they are talking about when they say the tax base is 30%. Only 11% of the workforce files tax returns and only 6% pay personal income tax, mostly through PAYE type schemes. What the 30% is I have no idea.

 

VAT and Corporate tax are the two biggest source of tax income but VAT is  an indirect tax that everyone pays.

[Dogmatix]

My post giving my opinions on NIT in the Thai context seems to have mysteriously disappeared without explanation. I will no longer share my extensive knowledge of the Thai tax system built up over 30 years here, since my efforts are not appreciated.

[Presnock]

Suggest AN users read the 15 October Thai Examiner which says just the opposite.  That ALL ADULTS including expats will be included in the new tax schemes.   I am not sure everyone has seen this but it is about the negative income tax and to support the aging citizens of this country.  This article is under the "LIVING" category.  Just saying as this indicates that expats specifically are targetted in the NIT scheme.   oh well, nothing new, just more confirmation but certainly sounds more like they want it to happen sooner rather than years later.  My opinion only

[BritScot]

10 hours ago, bigt3116 said:

 

And your evidence of this is?

Yes, Rose Coloured Glasses cleared decades ago!

[BritScot]

1 hour ago, hunkidori said:

And yet all the scaremongers amongst us would have us all believe we were to be taxed for this and need to declare that. What a load of crap, I've thought all along it will all come to nothing and I still do.

 

We all know why some of the self proclaimed experts would have us believe the nonsense. Wouldn't trust any of them.

Keep shining your rose coloured glasses! I remember when the 400k/800k was first mentioned some on here saying: "They can never do that", well they did! Have a good hard think. How easy will it be for immigration to ask "where is your Tax form"? As part of your annual renewal. They already know you have 800k/400k you brought into the country. They have your bank accounts to check any money coming in. Advice: suck it up and pay or have an exit plan in place. I did in 2018 and left in 2019. When I retire, Thailand will be off our radar as full time residency. 

[bkk6060]

10 hours ago, bigt3116 said:

This will be for Thai nationals only, so why on earth would any expat worry?

 

This really is a non-news item.

Some Expats will complain that they deserve it.  Just like they stood in free food lines during Covid.

[Karma80]

The only genuine concern is uncertainty. Investment, whether personal or corporate, requires a stable tax environment. Open discussions about tax reforms after the last PM of the moment instructed the RD to interpret the code regarding remittances has created quicksand under the feet of anyone standing on the Thai tax laws. Thailand needs to stop generating this speculation by having civil servants and ministers just shoot their mouth off.

[Yumthai]

32 minutes ago, BritScot said:

Keep shining your rose coloured glasses! I remember when the 400k/800k was first mentioned some on here saying: "They can never do that", well they did! Have a good hard think. How easy will it be for immigration to ask "where is your Tax form"? As part of your annual renewal. They already know you have 800k/400k you brought into the country. They have your bank accounts to check any money coming in. Advice: suck it up and pay or have an exit plan in place. I did in 2018 and left in 2019. When I retire, Thailand will be off our radar as full time residency. 

How about the dozen maybe hundreds of foreigners who pay an agent to get a 1 year extension stamp in their passport bypassing all financials requirements since years? Should they worry?

[WDSmart]

Sounds good to me!

[redwood1]

9 hours ago, kuzmabruk said:

Many of you are talking about the new tax laws, which have nothing to do with NIT.

But I thought I would share some Thai tax laws with you, for those who are planning to not file their tax return next March or fudge the numbers on their Thai tax return.  I am working with two of the largest tax accountants in Thailand (still undecided as to who will be my accountant) and they advise, file your tax return or possibly pay some large and painful penalties, as shown below.

 

1. Late Filing Penalty - 1,000 to 2,000 THB

 

2. Late Payment Penalty - penalty of 1.5% of unpaid taxes per month until paid - max 100%, possible for an additional penalty of up to 20% of the outstanding tax amount.

 

3. Failure to File Penalty - fine of up to 200% of the unpaid tax if it’s determined that the failure to file was intentional or involved fraud or evasion.

 

4. Additional Penalties - If they find that you have under-reported your income, they may impose penalties ranging from 100% to 200% of the unreported income.

 

5. Tax Evasion: Deliberate tax evasion or fraud can result in criminal charges, which may include imprisonment, fines, or both.

 

 

Bla Bla Bla Bla Bla......Put a sock in it with your udder nonsense..

[redwood1]

1 hour ago, Dogmatix said:

My post giving my opinions on NIT in the Thai context seems to have mysteriously disappeared without explanation. I will no longer share my extensive knowledge of the Thai tax system built up over 30 years here, since my efforts are not appreciated.

 

Hey I read all your posts and I think they are fantastic.......Just because one post disappears thats no reason to throw in the towel........I have had posts removed too... 

[Presnock]

9 hours ago, chiang mai said:

Once again, if negative income tax is implemented, everyone in the country will be required to file a return, including expats. Expats will not see any benefit from that but many of Thailand's poor people will. Many Thai people are exactly the same as foreigners in so much as they do not understand how much tax they will pay on their income. If they would figure out the answer to that question, they would understand that negative income tax will increase their earnings.

just additional paperwork for all!

 

[chiang mai]

4 minutes ago, redwood1 said:

 

Hey I read all your posts and I think they are fantastic.......Just because one post disappears thats no reason to throw in the towel........I have had posts removed too... 

Hey, I read all your posts too and I think they're all, well, I wouldn't say fantastic but I understand why they get removed. 🙂