Yes. If you are a Thai tax resident and you want to buy a car with funds from overseas that were earned in 2024 and tax free in the place of earning, those funds will be subject to Thai income tax, after TEDAs. The same applies to property purchases. I'm not sure, but I would very much doubt any cost benefit analysis has been made on this new rule interpretation, which will have an (adverse) impact on GDP, retail and property within the kingdom by foreigners who qualify as tax residents with assessable income. If foreigners who are not Thai tax residents buy big ticket retail or property, then they pay no tax. But I do not know how much the Thai property market relies on tax residents or non tax residents. There's already a glut, and maybe when that deteriorates, it will require a reassessment of the tax regime, which has worked pretty well up until this point.
@BurmaBill, wonderful photo. I don't have to teach at the school on Mondays, so I usually walk round the moat (almost 8 KM!), then up and down Mandalay Hill. So your photo location is exactly where I was last Monday?
@Mahseer, I want to try to get to Inle Lake/Nyaung Shwe maybe at Christmas to visit some orphanages that I previously donated to.. There is the home for disabled kids/adults just outside nearby Taunggyi, an orphanage in Taunggyi, one in Nyaung Shwe, Sasana Orphanage just outside the town, yet another poor monastery school at Htet Eian (near the vineyard) and another orphanage at Mine Thaut, by the lake. An Italian charity that I work with supports staff to look after the boys at Sasana, so I will try to visit to report on this. The only practical way to get to Nyaung Shwe from Mandalay is by 6 hour bus journey, but I'll have some holiday time at Xmas to do this 🙂
Please keep the photos and reminiscences (real word?) coming!
The inclusion of the term 'by individuals residing oustide Thailand' is the thing that worries me. I opened my Kasikorn account when I had a Non O based on marriage and have never actually resided in Thailand. Being divorced now I don't have such a visa.
As far as I know, to hold a Thai bank account, you have to actually live in the country (officially), although there are probably thousands of people who like me, don't. I am pretty sure that the local bank staff know I don't reside in Thailand but I worry they may close my account if I actually put pen to paper on this.
Your chats are meaningless, there are big economic, efficiency, corruption deleterious effects ENDEMIC in American and your stupid charts are a joke to Americans who struggle to pay for everyday items due to bidens reckless spending creating inflation and his infatuation with keeping the war going in UA. Give your head a shake and stuff your woke charts. It's not wonder why Trump landslided your beloved but mentally unfit Bidens replacement. Why has he not been sent to a old folks care facility instead of sending more missiles to the grifting UA dwarf! Where is the cackling hyena Kamala....making more stupid charts while Putin gears up for the big showdown. It's all failure, you got NOTHING so you start posting charts nobody cares about
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