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Thai tax tangle: Expats warned of new rules on overseas income
Photo courtesy of Expatica By Puntid Tantivangphaisal A packed meeting of the Pattaya City Expat Club turned into a lively debate as members received crucial updates on Thailand’s controversial new tax policy regarding overseas income transfers. Hosted by Thomas Carden, director of American International Tax Advisers, and tax attorney Patcha Inkudanonda, the session offered clarity, and raised fresh concerns, about the Thai Revenue Department’s evolving guidelines. Patcha explained that not all expats are required to file Thai tax returns. Exemptions apply to those in Thailand for less than 180 days in 2024, individuals who haven’t transferred money from abroad, those who only moved income earned before December 31, 2023, and holders of the 10-year Long Term Residence (LTR) Visa. For others, the advice is clear: obtain a tax identification number and file a return by March 2025. “All foreign income must be declared but this doesn’t always mean a tax liability.” In a surprise revelation, it was disclosed that foreign credit card usage in Thailand, if converted to Thai baht, is now considered taxable income. Carden urged expats to carefully review double taxation treaties between Thailand and their home countries but noted these are not blanket exemptions. “Each treaty has unique terms, referencing them in tax submissions could help as a caveat.” Attendees raised questions about investment transfers, such as using overseas funds to buy a Thai condominium, but Carden admitted such matters remain unclear. He acknowledged the Revenue Department’s intent to widen the tax base, with small earners inadvertently caught in policies aimed at wealthy Thais, reported Pattaya Mail. Concerns about enforcement were addressed, with Patcha citing international agreements like the Global Forum on Transparency, enabling Thai officials to request banking information globally. Both experts urged expats to retain detailed records of foreign transactions to avoid audits and potential penalties. Source: The Thaiger -- 2025-01-15 -
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Retirement Visa renewal
You joined over 18 years ago and still need to ask this question? 1) There is no such thing as a Retirement Visa, it is an Extension. 2) 3 months after, when then half of it can be spent on whatever you desire. But then put back two months before you go to re-new it again.. -
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Photos of destruction as a result of the incompetent world leader & his party
I've raised the point about variables below. It's a fair question, and it needs to be accounted for. It's only too well known that a single piece of new information can completely invalidate a theory. Or, what was once considered Fact. With a capital F, of course. Which is why, in my humble estimation, it's is not prudent to fall into a paradigm in which questions need no longer apply. I understand you're making a distinction between beliefs and facts. So I'll once again repost one of my favourite Samuel Clemens quotes: “What gets us into trouble is not what we don't know. It's what we know for sure that just ain't so.” ― Mark Twain Therein lies the rub. Once convinced that a thing is true then questioning what you believe to be true is nothing short of lunacy. Right? But how could you ever know whether something you think is true really isn't? Questioning. Anyone and everyone has their beliefs which they consider to be true. And a plethora of facts to back that truth up with. I wish things were truly black and white but my experience taught me that it's rarely the case. My advice? When you find yourself stopping any questioning you know you're in trouble. -
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The abrupt welcome on my 3rd Visa Exempt
No problem, Icame 3 VE the year before and the year before that, be doing it consistent for more than 20 years except for Covid, first time this has happen . Kind Regards Popa -
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Do Thais Ever Really Say That They Are Sorry?
If you want to reach or balance the western version of sorry, with regret or emotional aspect you move to "Sia jai" imho
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