Thailand Live Saturday 24 May 2014
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330
Thai tax tangle: Expats warned of new rules on overseas income
I wonder if a foreign bank, asked to hand out data to Thailand or elsewhere, will not at least need proof of a criminal investigation. Even then I guess they would first check back with their home tax department if the credit card holder has paid his taxes. And if so, why would they comply, knowing of double tax treaties? -
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Irish diver’s fate revealed on Thailand’s ‘Death Island’
Koh Tao is a 'holiday island' and lots of young people having a good time. Possibly easily available dink and drugs; local 'home -brew alcohol ' a potent drink is on sale in many shops at low cost, and possibly drugs availabl as well. Too much partying with strong drink and drugs, yabba (speed) and Ice (crack cocaine0, magic mushrooms, and even heroin. Ganga is now legal in Thailand. So, youth free from any parental control just might indulge to excess, with fatal circumstances. It is not unknown for young people on holiday in UK to drink themselves senseless, so would it be any different in Thailand with the local firewater so strong and so cheap?. Locals are veryt tolerant of such bhaviour and local plod is not going to waste effort with D&D charges. Local mafia will rejoice in the booming market for drugs. -
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Thai tax tangle: Expats warned of new rules on overseas income
Thai tax tangle: Expats warned of new rules on overseas income. Tax tangle alright, Wy do they have to know what ones income is abroad? It's bad enough that they want to tax expats on the money that one bring into the country . Everything that one buys here one has to pay tax on. -
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330
Thai tax tangle: Expats warned of new rules on overseas income
I think it was use of a foreign credit card which is de facto remitting of funds to Thailand just as withdrawing cash using a foreign debit card would be. It is the remitting of funds which is key to any liability. However, I repeat my point that very few retirees here will have need to file a return let alone pay any tax due as i) most will be remitting funds derived from income paid in previous tax years and ii) the Double Taxation Agreement will credit the Thai tax due down to zero if any was owing in the first place. That is why whenever anyone on here asks the Revenue Dept, they tell them they don't need to file if their income was taxed overseas. They know it is a waste of their time as very few will have untaxed foreign income that they remitted to Thailand in the same tax year as it was paid to them. All a fuss about nothing with the tax lawyers trying to get everybody to panic. -
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90 days report pending
I would rather have it rejected next day after reporting than no reply at all and wait till due date.
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