Commuting in BKK
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62
What's the point talking to anyone with less than a GENIUS IQ?
Back of the net....555 -
26
Report Thailand Moves to Legalise Poker as a Sport
A sport where you don't need to get off your fat lazy ass is my kind of sport. -
8
Travel Thailand's Flight Boom: The New Routes of 2025
Next week it will be all doom and gloom. -
66
Finance Tax Break Bonanza: Thais to Benefit from New Foreign Income Rule
"For those residing in Thailand for 180 days or more in a tax year, the Resident Rule applies, making them liable for income tax on international earnings. This upcoming legislation aims to refine these rules, providing much-needed tax relief for many." NOTE - IF your country has a Tax Treaty with Thailand then it is more than likely it includes a clause to prevent double taxation, especially on Pension Income. HOWEVER -that does NOT mean you don't have to file a tax return if you've been "resident" in the country for over 180 days. And NO - the "clock" doesn't "reset" if you leave the country - unless it's for MORE than 185 days. It's based on how many days you were "resident" in Thailand during a Calendar (or Fiscal/Tax) year. And it is NOT dependent on the type of Visa you hold. So even if you are getting by using 60 Day Visa Exemption stamps and doing border runs every 2-3 months, you would STILL be considered "resident for tax purposes" if your total time in Thailand equals 180 days or more in the "year". IF your sole source of income is Pension and IF it is already taxed in your home country, then you have NOTHING to worry about. You would still be expected to do a tax return to show how much Pension money you received in the year, but as it wouldn't be taxable, it wouldn't matter the amount. But IF you are receiving Pension Income AND additional income from other sources - it would have to be reported on a tax return. And if they do what other gov'ts do, they would total ALL your income to determine which tax bracket you fit into. THEN they would deduct "non-taxable" income from the total (i.e. your Pension income) and THEN tax the remainder at whatever rate you were in. (Unless you could prove that other income was also already taxed back home.) So for most expats - this won't affect them at all. Assuming they are honest about their income that is. And most of your home countries do exactly the same thing as well. For example, when I was working in Afghanistan and had declared Thailand as my home address - I was still taxed (by Canada) as though I was living next door to the Canada Revenue Agency's head office. IF I had been in Thailand for more than 180 days in a year, I would have been expected to include the income earned in Afghanistan as well as my pension income on a Thai tax return. However, as both were already taxed in Canada, they wouldn't have been taxed again in Thailand (as per the Tax Treaty). IF you are unsure about whether or not your country has a tax treaty with Thailand - simply Google it. UK Tax Treaties. Australia Tax Treaties. Nigeria Tax Treaties. Your gov't's website should have a list of all the tax treaties in effect. Most of them are literally the exact same. Article 18 deals with Pensions. Article 11 deals with Interest. Article 10 is regarding Dividends. You should familiarize yourself with the details (they aren't that difficult once you get past the "contracting state" and "other contracting state" legalese. I'd suggest finding your country's tax treaty page and bookmarking it for future reference. For Canadians it's: https://www.canada.ca/en/department-finance/programs/tax-policy/tax-treaties/in-force.html#Thailand -
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Will Trump's "war on facts" eventually catch up with him?
Yes, this is your president speaking, should ring a bell or two
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