Is Sam Altman actually a woman?
-
Recently Browsing 0 members
- No registered users viewing this page.
-
Topics
-
Popular Contributors
-
Latest posts...
-
673
-
1,006
Thai tax tangle: Expats warned of new rules on overseas income
The last one on that list. My concern is that ultimately I wll be drawing a UK state pension, but that is still a few years off so hopefully the mud will have settled by then. -
0
You wanted it, Now its Here ! Buy & Sell Marketplace
In December and January, we ran a poll asking if members would like a dedicated Buy & Sell Marketplace. The response was fantastic, with overwhelming support for the idea. Thanks to your enthusiasm, we’re thrilled to announce that the marketplace is now live! The Buy & Sell Marketplace is completely FREE for members to list their personal items. With a variety of categories to choose from, you’ll have no trouble finding the perfect place to post your items. And as demand grows, we’re happy to add new categories to meet your needs. Now it’s over to you—start using the marketplace today, and we hope it becomes a valuable and well-loved addition to the forum! https://aseannow.com/forum/467-buy-sell-marketplace/ -
91
CT125 Winter Tour
Today I rode to Huai Pla Duk Beautiful Water Forest Park, here. https://maps.app.goo.gl/pkQAkwARpTSJpymu9 There is a reservoir here of the same name and there is a lot of commercial logging in the area. Which means tracks to ride! Here are a few waypoints, there are more tracks than shown on the maps. https://maps.app.goo.gl/zcr<deleted>MUZXRzfhA9 https://maps.app.goo.gl/TvgxPwuTcVdi6mkz8 https://maps.app.goo.gl/jzTrsEL5ZkmZkeQp6 https://maps.app.goo.gl/R7FEx8pSiecrpRge8 From the last waypoint I returned to Loei. Another enjoyable ride today. https://www.relive.cc/view/vZqNEGmyR36 -
1,006
Thai tax tangle: Expats warned of new rules on overseas income
It is the residents responsibility in my opinion to make sure they are protected. They won't remember you, so did you get the full name, phone number, and all contact information for the TRD employee? Hope so. -
0
Thai Tax Laws for Expats: the Practical Implications versus the Realities
There has been a lot of confusion and speculation regarding the recent changes to income tax laws and filing requirements in Thailand. However, in practice, the actual impact of these changes is likely to be much less burdensome than many expect. It’s possible that the authorities won’t begin actively enforcing tax laws on foreigners for at least a few years, and even then, it would likely be only if those foreigners are living in Thailand as full-time residents and fail to file tax returns altogether. For the first few years, it’s likely that nothing will happen, as the authorities will probably give it some time to see how well people are complying and whether or not they need to start enforcing any aspects of the tax laws or not on foreign residents who aren’t working. The most likely scenario is this: if foreigners don’t get their tax filings in order after a few years, they may find themselves unable to renew their long-stay visas until they do. But even this is speculative. There’s no guarantee that the immigration and revenue departments will link their systems in such a way that one triggers the other. While the immigration and revenue departments theoretically have access to each other’s systems, the idea that they will actively use this access to block visa renewals is still highly questionable. As long as you file a tax return each year, you should be fine. By doing so, you demonstrate your intention to comply with the law, which is all they really expect. It’s doubtful they have the resources to start auditing individuals or scrutinizing bank accounts to track overseas transfers. File your return on time each year, and you’re unlikely to face any issues. Even if someone were audited, it seems highly unlikely that the authorities would investigate overseas credit or debit card spending in Thailand, this is in regards to foreigners who aren’t transferring money into the country and are simply making digital payments for everything in Thailand. Those foreigners could refuse to hand over overseas banking documents, and there would be no way for the authorities to force them to do so. For local bank accounts, the Thai Revenue Department could request statements from the banks, but they have no access to overseas banking or credit card records. Realistically, they’d likely never even bother trying to obtain overseas bank statements. So in my view, the whole debate about spending in Thailand using mainly an overseas debit card, and having to pay personal income tax on that money in Thailand is moot. Legally, yes, there are rules, but in practice, it’s straightforward: file a tax return, show that you’re playing by the rules, and you should be fine. If you’re bringing in a small or reasonable sum each year, you’re unlikely to raise any red flags regarding unpaid taxes, money laundering, or anything else. The government has limited resources and much bigger fish to fry when it comes to enforcement. One crucial point that many seem to be overlooking is that for money to be taxable in Thailand, it must have been earned either in 2024 or sometime after that year. So, even if you transferred ฿10 million into Thailand in 2024, if you can provide an overseas bank statement from 2023 showing a balance of ฿10 million, that money wouldn’t technically be taxable anyway because it was part of your savings earned prior to 2024.
-
-
Popular in The Pub
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now