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Set up Thai Company and hiring worker from Laos
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152
British woman jailed after collecting debt from Thai millionaire
In Thailand you thing you gotta learn: don't mess or piss off people with money or with police connections! your life can become very miserable, a friend in the police force told me many times and still tell me today. I can also say from own experience -
159
Minimum required to live comfortably at a young retirement age
"Italian style" pizza consists of the base plus mozzarella, basil and tomato sauce. The rest, you just made that up. -
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Western Food - when only this will do !
The longer I live here (nearly 20 years) the more western food I eat. Most weeks I'll cook a roast dinner, pasta dish, fish or steak, and a curry. There are loads of choices for eating out too - pizzas, burgers, steaks, fish n chips, Sunday roast and the good old English breakfast. -
1,720
Thai tax tangle: Expats warned of new rules on overseas income
Banks are diligent about monitoring and reporting large, unusual, or suspicious transactions to help prevent money laundering. This is under 2 million baht so they are under no obligation to give this information to the RD. -
1,720
Thai tax tangle: Expats warned of new rules on overseas income
https://www.pwc.com/th/en/tax/assets/thai-tax/thai-tax-booklet-2024-25.pdf Under this instruction, A person who resides in Thailand at one or more times for an aggregate period of 180 days or more in any tax year and has assessable income due to work duties or activities performed abroad or assets that are located abroad according to Section 41 paragraph two of the Revenue Code in that tax year and has brought that assessable income into Thailand in any tax year, has a duty to include that assessable income in calculating income tax under Section 48 of the Revenue Code in the tax year in which the assessable income is brought into Thailand. This PWC statement refers to tax residents only. -
1,720
Thai tax tangle: Expats warned of new rules on overseas income
Thanks, but hang on, I'm confused with what you've described, I hope you don't mind if I ask you to clarify, if this is too long to reply to, feel free to PM? What do you mean by this? Do you mean you sold all of your stocks prior to 31/12/2023 and held it in cash? Remembering, investments are comprised of capital + gains anyway. Every cent of your balance, regardless of what that balance was comprised of, as at 31/12/2023, consisted of income prior to 31/12/23. Sorry, can I clarify your example please? : 31/12/2023- you have a brokerage account with $1m USD worth of stocks in it Sometime in 2024 - you sold all of these stocks ( what did you sell them for? $1M, $1.2M, 900K???) So, you don't need to pay any tax on remittance of funds up to $1M.......? ( in fact, your $1M of stocks may have been purchased for $600K 5 years ago and grown via capital gains to $1M as of 31/12/2023) Remittance of original capital of an asset is definitely not taxable. The idea of 'savings' doesn't actually exist. The only lack of clarity is what constitutes the figure of the 'original capital' , and how the value of that capital on the 31/12/2023 is seen by the TRD. I don't hold with the view that it needs to be in cash, it doesn't pass a logic test, many stocks and funds are almost equally liquid. OK, so what you did confirm is that cash as of 31/12/2023 would be exempt, if it is held in a bank or a brokerage account, in cash.
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