I am leaving Thailand - yes taxes!!!

[Airalee]

5 minutes ago, atpeace said:

You don't know this and you stating your beliefs as fact is what make these threads so entertaining. 

 

This law is not new and I assume you are also back filing past returns where you didn't pay the difference.  It was due by your definition and you are going to have a big tax bill. 

Up until now, I was remitting only savings.

[JonnyF]

1 minute ago, Airalee said:

Non-O retirement extension.  It can be extended indefinitely.

 

I’m not willing to take the risk that they will want a lot more money stuck in the bank here in order to get a new non-o based on retirement when history has shown that people at lower levels (they used to require 400k before it went up to 800k) are grandfathered in.

 

So you are on a visa that needs renewing annually and 90 day reporting but don't like the idea of a 10 year visa with 365 day reporting that also gives tax benefits, fast track at the airport etc.?

[Airalee]

7 minutes ago, atpeace said:

You don't know this and you stating your beliefs as fact is what make these threads so entertaining. 

You should educate yourself on how the tax treaties work.

[Airalee]

1 minute ago, JonnyF said:

 

So you are on a visa that needs renewing annually and 90 day reporting but don't like the idea of a 10 year visa with 365 day reporting that also gives tax benefits, fast track at the airport etc.?

Nope.  Not interested.

[cdemundo]

May I be the first to say... who cares?

(Or maybe I am already too late to be the first.)

[atpeace]

3 minutes ago, Airalee said:

I’m referring to long term capital gains.  Short term (for a trader) are taxed at income tax levels in the US.  Higher than the 15% I will pay for the long term  In Thailand, those gains will be taxed at 25-30% for me so I would be responsible for the difference between what I pay in the US and what Thailand wants.

 

Tax treaties don’t mean that you pay 0% taxes here on income taxed already in the US if the tax rates are different.  You are responsible for the difference.

 

I don’t know why you are having such a difficult time understanding that.

 

 

What ever. You know exactly how capital gains taxes that were paid in America will be handled here in Thailand.  Keep at - it is entertaining.

[Patong2021]

11 minutes ago, Airalee said:

Nonsense

Rubbish, because you cannot offer one intelligent counter argument. 

[JonnyF]

6 minutes ago, Airalee said:

Nope.  Not interested.

 

Up to you.

 

But it seems strange logic to reject a 10 year visa on the basis it is not long enough when you currently have to do annual extensions whereby the rules could change from year to year. 

 

A bit like saying a Ferrari isn't fast enough so I'm just going to keep my Suzuki Swift. 

[Airalee]

5 minutes ago, atpeace said:

What ever. You know exactly how capital gains taxes that were paid in America will be handled here in Thailand.  Keep at - it is entertaining.

https://assets.kpmg.com/content/dam/kpmgsites/xx/pdf/2023/01/TIES-Thailand.pdf.coredownload.inline.pdf
 

Section 2.10

[Airalee]

2 minutes ago, Patong2021 said:

Rubbish, because you cannot offer one intelligent counter argument. 

I pay for my healthcare at a private hospital.  It is not subsidized by the government.

 

The infrastructure is crap.  The roads are crap.  I barely drive and instead use taxis.

 

What you wrote was nonsense.   But to be expected from a leftist such as yourself.

 

I’m quite content to have Thailand as a temporary residence from now on.  It’s not worth hundreds of thousands of baht annually in taxes to live there full time.

 

Thanks, but no thanks.

[atpeace]

13 minutes ago, Airalee said:

Up until now, I was remitting only savings.

Hmm, and for some reason those saving have disappeared?  Is there a reason you can't keep sending prior years savings?  

[Airalee]

6 minutes ago, JonnyF said:

 

Up to you.

 

But it seems strange logic to reject a 10 year visa on the basis it is not long enough when you currently have to do annual extensions whereby the rules could change from year to year. 

 

A bit like saying a Ferrari isn't fast enough so I'm just going to keep my Suzuki Swift. 

How long has the non-o visa program been running so far?  I expect it will continue.  I’m quite happy with it.

 

With regards to the taxes, I’m fine being out of Thailand for half the year for the time being.

[Airalee]

3 minutes ago, atpeace said:

Hmm, and for some reason those saving have disappeared?  Is there a reason you can't keep sending prior years savings?  

I never said they disappeared.  I just wanted to replenish them and pay capital gains tax at 15% and not have to pay the extra 15%.

 

Be thankful you are in a lower tax bracket.

 

How much do you keep in cash?

[Dan O]

5 hours ago, Celsius said:

I know already ... no need to announce my departure. Hear me out!!!!

 

I was chatting with my friend from Serbia who came to visit, and she basically looked at me like I was an idiot and asked, "Why on earth are you declaring your Toronto condo rental to Canada?!" (And that was just the tip of the iceberg.) She was like, "Why bother filing taxes in Canada when you don’t even live there?!" It was a rapid-fire "Why this?" and "Why that?" like I had just invented a new form of self-sabotage.

 

Then I realized I'm surrounded by the same woke individuals who are desperately scrambling to file a tax return here in Thailand out of all places.

 

I hope Thailand implements 8 million baht retirement extension and 15 day report. You deserve it.

 

I'm out and I'll be watching that door thanx in advance.

 

 

Well generally reporting income in the country earned is expected unless you have an exception that's valid. Avoiding taxes anywhere they are owed can come with some very unpleasant results. I don't know that I would be relying on a Serbian friend to give tax advice on other countries if they are qualified in tax law.  Make yourself knowledgeable first then decide what to do 

[Dan O]

5 hours ago, Celsius said:

 

It is. It's not your country. You have zero rights and zero say. It all started with those retarded hippies complaining about 7/11 bags.

 

Enjoy more paperwork for literally nothing.

 

Fortunately what I think is happening is that all the woke wokensteins have actually moved out of Canada to spread their gospel. It might be a decent place to live now.

That's ridiculous 

[atpeace]

19 minutes ago, Airalee said:

https://assets.kpmg.com/content/dam/kpmgsites/xx/pdf/2023/01/TIES-Thailand.pdf.coredownload.inline.pdf
 

Section 2.10

Really! That is not an official Thai document but simply a guide to help international execs in Thailand file taxes. 

 

In the three examples for 3 tax years there is no mention of cap gains -555. They do quickly go over cap gain but simply state it isn't taxable unless you bring those cap gains into Thailand or they are earned locally.  How would you conclude that all cap gains earned will also be taxed at 30% vs the USA cap of 15% is nothing but insanity. 

 

Calm down and re-read the article.  Is that article  the reason for your fear?

[Airalee]

4 minutes ago, atpeace said:

Really! That is not an official Thai document but simply a guide to help international execs in Thailand file taxes. 

 

In the three examples for 3 tax years there is no mention of cap gains -555. They do quickly go over cap gain but simply state it isn't taxable unless you bring those cap gains into Thailand or they are earned locally.  How would you conclude that all cap gains earned will also be taxed at 30% vs the USA cap of 15% is nothing but insanity. 

 

Calm down and re-read the article.  Is that article  the reason for your fear?

No.  And it’s not an “article” like the slop we have been fed by independent tax advisors here on AseanNow.  I trust KPMG a little more than what I read here.

 

And when the government clears things up so that there are no questions, I will reassess where I want to spend the majority of my time.

 

I’m quite enjoying Danang this year however 😁

[marin]

34 minutes ago, Airalee said:

What you wrote was nonsense.   But to be expected from a leftist such as yourself.

 

There it is the catch phrase, lost all credibility big time. 

[atpeace]

3 minutes ago, Airalee said:

No.  And it’s not an “article” like the slop we have been fed by independent tax advisors here on AseanNow.  I trust KPMG a little more than what I read here.

 

And when the government clears things up so that there are no questions, I will reassess where I want to spend the majority of my time.

 

I’m quite enjoying Danang this year however 😁

Enjoy Danang 🙂 Nice to have  options.

[Sandboxer]

Buh bye^^

[Airalee]

9 minutes ago, atpeace said:

Enjoy Danang 🙂 Nice to have  options.

Yes, it is.

 

I’m not sure why it bothers people so much that some of us are deciding to pull up roots until the government makes things crystal clear.  

[Airalee]

14 minutes ago, marin said:

There it is the catch phrase, lost all credibility big time. 

Lost credibility?

 

LOL.

 

Leftists are disingenuous people.  Own it.

[marin]

3 minutes ago, Airalee said:

Leftists are disingenuous people.  Own it.

You are being aggressively disingenuous right now, fact!  

 

To have even brought this up shows something. We are discussing a Serbian immigrant to Canada and his trolling and you come up with "disingenuous."

 

Who has an agenda? Only you.... 

[mogandave]

Go with God brother. Write if you find work.

[KannikaP]

5 hours ago, atpeace said:

2k a year isn't bad and I don't have to find a 7 year old. 

Sounds like you have the appropriate brain power to do it yourself!

[Airalee]

2 minutes ago, marin said:

You are being aggressively disingenuous right now, fact!  

 

To have even brought this up shows something. We are discussing a Serbian immigrant to Canada and his trolling and you come up with "disingenuous."

 

Who has an agenda? Only you.... 

no.  Telling me that taxes are covering my healthcare is disingenuous.

 

Telling me that I should pay taxes to pay for potholed roads that never get fixed, dangerous sidewalks that never get fixed, schools that can’t even provide decent educations, even bringing the “street food seller” into the argument is disingenuous.

 

It’s leftist nonsense.

 

If Thailand wants us to pay the same taxes as other Thais, then we should get the same benefits as other Thais.  Period.

[Lacessit]

A quite sour OP.

 

IMO the whole tax thing is overblown nonsense. I can have about 500K baht in exemptions, or choose to transfer pre-2024 savings for 5-6 years.

 

Right wingers ( whingers? ) posting on this thread seem to think they have a patent on logic, intelligence and rationality. Leftists are woke and dumb.

 

Patents expire in 15 years. It's going to be a lot faster than that in politics.

 

 

[NorthernRyland]

2 hours ago, Dmaxdan said:

I think it's sad that people are jumping ship because of this. Especially when you bear in mind that the Thai revenue department aren't even enforcing this "new tax law". The only people that are, are the English speaking media and unscrupulous foreigners trying to sell you a service that you don't need. 

I was worried about the tax issue briefly until l realized we were always required to pay taxes on money imported within the same year (which we all do) yet it was never enforced. Never once did they ask me or anyone else when the money I was spending was earned. When that changes we'll know.

[KhunLA]

I can almost see taxes as the only reason for someone to leave, if having no other reason to stay.  Thinking most, I would imagine, leaning that way, having a -0- visa for retirement.

 

So if brought in the minimum, 800k, w/60k exemption, puts one it the 15% tax bracket, if having no other deductions.

 

That's a bit of money, ฿112,500, (฿9,375 monthly) just for the privilege of staying in TH.

 

If they tie your tax return to your visa extension, and you're one of the one's using an agent, to skirt the financials, then that could royally screw many, if not having the ฿800k required.

 

Only thing to think about, would living elsewhere, cost you more than 15% to live.  And any income tax burden at that location.

 

Those married and settled, probably wouldn't be going anywhere, as with exemptions & deductions, may not owe any taxes, and not enough to be concerned about.

 

That's if your home countries DTA doesn't exempt some or all your income, to begin with.

 

For those not here, and thinking about it, single, visa for retirement, no deductions planned, then that ฿112.5k would be enough for me to scratch TH off the list of retirement places.

[Lacessit]

15 minutes ago, KhunLA said:

I can almost see taxes as the only reason for someone to leave, if having no other reason to stay.  Thinking most, I would imagine, leaning that way, having a -0- visa for retirement.

 

So if brought in the minimum, 800k, w/60k exemption, puts one it the 15% tax bracket, if having no other deductions.

 

That's a bit of money, ฿112,500, (฿9,375 monthly) just for the privilege of staying in TH.

 

If they tie your tax return to your visa extension, and you're one of the one's using an agent, to skirt the financials, then that could royally screw many, if not having the ฿800k required.

 

Only thing to think about, would living elsewhere, cost you more than 15% to live.  And any income tax burden at that location.

 

Those married and settled, probably wouldn't be going anywhere, as with exemptions & deductions, may not owe any taxes, and not enough to be concerned about.

 

That's if your home countries DTA doesn't exempt some or all your income, to begin with.

 

For those not here, and thinking about it, single, visa for retirement, no deductions planned, then that ฿112.5k would be enough for me to scratch TH off the list of retirement places.

IMO you may not have the numbers right. Assuming, of course, you are transferring post 2023 income, and not savings.

 

Over 70, married to a Thai, 600K baht of transferred money is tax exempt.

 

If you transfer 800K per year, 200K is taxable at 15%.

 

That's 30K baht/year, 2500 baht/month.