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16
Report Pattaya's Long-Delayed 20,000-Seat Stadium Nears Completion
what would i like to see there? maybe the pete tong ibiza classics show with a full orchestra..? Or what about the War of the Worlds stage show...that could be epic..plus a few show case matches in the off season between some premiership football clubs..? -
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Is money sent to family from outside of Thailand subjected to the new foreign income tax?
Anyway Thai government departments and courts can interpret things in ways they feel like and that are inconsistent from case to case. But on the face of it there is nothing to specify that a gift can only be made from income that has already been taxed in Thailand and, even, if it was made from after Thai tax income, it will still be taxable as a gift, if the gift to a spouse is over 20 million. Another thing you could look at is the device used by Ung Ing to avoid paying gift tax on transferring shares well over the gift tax limits to her family members. The transfers were not structured as gifts which would have been taxable over the limits but structured as sales of assets. The purchases were paid for using open ended promissory notes, callable at any time. Ung Ing got the DG of the RD to testify in parliament that that the transfers will only be deemed as taxable events when the promissory notes are cashed which will, of course, never happen. When Ung Ing's time in politics comes to an end the shares will be transferred back to her, either as foreclosures on the repayment of defaulted promissory notes or some other tax avoidance scheme will be set up. The unpaid promissory note tax avoidance scam has the advantage that the DG of the RD has testified in parliament that it is rock solid. However, that doesn't stop the RD or the Tax Court making a completely different ruling on the same scheme presented by a mere mortal. Nothing is rock solid apart from just declaring the transfers as income and pay Thai tax on them which will be gratefully received, even if the income was not strictly speaking assessable, or leaving the country, as your friend did. But IMHO, the gift to spouse window is fairly solid, although I would expect to see the limits reduced at some point. Parliamentarians would not want to see it eliminated completely because it is a handy way for them and their wealthy sponsors pass on chunks of their ill gotten gains to wife and kids whilst still alive tax free. -
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