Olddaddy Posted June 20 Posted June 20 What's the bars like in Jomtien complex for socialising with other farangs? I did think the Scottish owned bar was friendly and very sociable. Cocka2 bar also seems to have a lot of expats Personally I'm more a introvert type but I guess it can get very lonely if you have just moved to Pattaya and have no other farangs to socialise with. I find many of the places in the straight areas much better Canterbury Tales bookshop is great Quote
reader Posted June 21 Posted June 21 7 hours ago, Olddaddy said: Canterbury Tales bookshop is great This shop has been very favorably reviewed in the local media on several occasions. Good to hear you found it. Quote
bkkmfj2648 Posted June 21 Posted June 21 Speaking of the Canterbury Tales bookshop - the PCEC - Pattaya City Expat Club will have a presentation by its founder, Mr David Collier at their next meeting on Wednesday 26 June 2024 at 10:30 am at the Holiday Inn in Pattaya City. https://pcec.club/MEETING-INFORMATION vinapu, Olddaddy and reader 1 2 Quote
Keithambrose Posted June 21 Posted June 21 12 hours ago, bkkmfj2648 said: Speaking of the Canterbury Tales bookshop - the PCEC - Pattaya City Expat Club will have a presentation by its founder, Mr David Collier at their next meeting on Wednesday 26 June 2024 at 10:30 am at the Holiday Inn in Pattaya City. https://pcec.club/MEETING-INFORMATION A really interesting guy! On 6/18/2024 at 6:15 AM, reader said: I’m not a Pattaya visitor but have read consistently on the forums about the shrinking expat community there. Part of it is obviously by choice but the government must accept that its unpredictable—and often onerous—policies discourage rather than encourage foreigners to retire to Thailand. I was among those westerners who weighed the option for years. Just when I was giving it greater consideration, the emerging possibility of dual state taxation has pretty much sealed any hopes I was considering. I think I could manage the health care issue but not the taxation one. Even if authorities decided against the idea, I believe future administrations would go on to seek new revenue streams from retirees, introducing more uncertainty. The logical—and economically proven—approach is to gain revenue from the spending of retirees on goods and services. It’s another altogether to try to wring the source dry before it can spend funds on those goods and services. I'm not an expert but I though that if your 'home' country has a double taxation treaty with Thailand, all is well? That was suggested in earlier posts. I have a friend in Bangkok who used to be a tax partner in an NY firm, and he has just bought a condo. I can ask him. He has also acquired a good looking young Burmese live in companion, though I don't think that affects the tax position!! vinapu 1 Quote
Keithambrose Posted June 21 Posted June 21 Just now, Keithambrose said: A really interesting guy! I'm not an expert but I though that if your 'home' country has a double taxation treaty with Thailand, all is well? That was suggested in earlier posts. I have a friend in Bangkok who used to be a tax partner in an NY firm, and he has just bought a condo. I can ask him. He has also acquired a good looking young Burmese live in companion, though I don't think that affects the tax position!! I discussed the tax situation with my friend, ex tax lawyer in NY. He confirmed that with a double tax treaty in existence, there should be no issues, but get your own advice. He has what he calls a 'wealthy foreigner' visa, whatever that is, which he says, means that these tax issues do not affect him. Quote
siriusBE Posted June 22 Posted June 22 I think it's complicated. Switzerland, for example, has a double taxation agreement with Thailand. However, this only covers income from savings (e.g. pension fund). Other income must be taxed again. It makes sense to clarify the situation carefully because there are high penalties if you try to fly under the radar in terms of tax. Quote
bkkmfj2648 Posted June 22 Posted June 22 1 hour ago, siriusBE said: It makes sense to clarify the situation carefully because there are high penalties if you try to fly under the radar in terms of tax. or you "strategically" make sure that Thailand is not your "tax residence" (by avoiding to stay in the Kingdom more than 180 days) and live somewhere else that has a more tax friendly taxation. When I chose my to-be retirement destination country back in 2020 - The friendly taxation status of "tax residents" in Thailand helped to put it at the top of the list. But now the current government wishes to change this "social contract" - so, consequently, where to live is now up for grabs..... Quote
Olddaddy Posted June 22 Posted June 22 1 hour ago, bkkmfj2648 said: or you "strategically" make sure that Thailand is not your "tax residence" (by avoiding to stay in the Kingdom more than 180 days) and live somewhere else that has a more tax friendly taxation. When I chose my to-be retirement destination country back in 2020 - The friendly taxation status of "tax residents" in Thailand helped to put it at the top of the list. But now the current government wishes to change this "social contract" - so, consequently, where to live is now up for grabs..... Also I note that UK residents don't get a increase in their pensions if they are living in Thailand unlike Philippines Quote
Keithambrose Posted June 22 Posted June 22 2 hours ago, Olddaddy said: Also I note that UK residents don't get a increase in their pensions if they are living in Thailand unlike Philippines Yes, that's very unfair. They paid for 40 years, and are not a burden on the NHS, etc! Quote
vinapu Posted June 22 Posted June 22 when one is thinking about moving permanently to another country and considers tax issues as one of primary importance, my first advice would be to re-examine his priorities. Taxation should be not primary , not even secondary consideration, tertiary at the best if not even further down. My comment is not directed at anybody but comes from well rehearsed personal experience in both areas as those who know me can attest. Quote
bkkmfj2648 Posted June 22 Posted June 22 2 hours ago, vinapu said: when one is thinking about moving permanently to another country and considers tax issues as one of primary importance, my first advice would be to re-examine his priorities. Taxation should be not primary , not even secondary consideration, tertiary at the best if not even further down. hmm - this an interesting perspective because at my previous employer this was one of our BIGGEST topics of conversation (hours and hours): Where will you retire? What is the taxation policy in the desired country? Does this country respect the United Nations tax treaties after you stop working and go into retirement status? Choose your retirement country wisely if you are a USA citizen - because they have a "Citizenship based global taxation" which does not honor the United Nations non taxable income rules - because then you can find yourself paying tax twice on your UN income if your designated retirement tax country implements a "Global taxation" based on tax residency regime. So, for me and for my former work colleagues at the UN, this was of primary or secondary importance because of UN tax treaties - which are in addition to our Citizenship and/or tax residency status. vinapu and JimmyJoe 1 1 Quote
reader Posted June 22 Posted June 22 18 hours ago, Keithambrose said: I discussed the tax situation with my friend, ex tax lawyer in NY. He confirmed that with a double tax treaty in existence, there should be no issues, but get your own advice. He has what he calls a 'wealthy foreigner' visa, whatever that is, which he says, means that these tax issues do not affect him. Thank you, Keith. If anyone would know, your friend certainly would. For the time being, my plan is to stay just under 180 days. I feel very much at home here. Wish I had discovered it much sooner but I’ve enjoyed a good run and have no complaints. vinapu 1 Quote
Keithambrose Posted June 22 Posted June 22 4 hours ago, reader said: Thank you, Keith. If anyone would know, your friend certainly would. For the time being, my plan is to stay just under 180 days. I feel very much at home here. Wish I had discovered it much sooner but I’ve enjoyed a good run and have no complaints. I'm glad you enjoy Thailand. I love visiting. But have, not yet, had the desire to live there! Quote
floridarob Posted June 22 Posted June 22 16 minutes ago, Keithambrose said: I'm glad you enjoy Thailand. I love visiting. But have, not yet, had the desire to live there! As @vinapu so wisely said about the problem living in Thailand....you don't get to "Visit" Thailand 😉 reader, vinapu and Olddaddy 3 Quote
bkkmfj2648 Posted June 27 Posted June 27 Posted today in the Bangkok Post regarding some further clarifications about the Thai government wanting to tax our global income, as foreigners who are deemed to be "tax residents" (living in Thailand in excess of 180 days in a year). https://www.bangkokpost.com/business/general/2818689/navigating-new-foreign-income-rules vinapu 1 Quote
vinapu Posted June 27 Posted June 27 On 6/22/2024 at 11:37 AM, bkkmfj2648 said: hmm - this an interesting perspective because at my previous employer this was one of our BIGGEST topics of conversation (hours and hours): Where will you retire? What is the taxation policy in the desired country? Does this country respect the United Nations tax treaties after you stop working and go into retirement status? Choose your retirement country wisely if you are a USA citizen - because they have a "Citizenship based global taxation" which does not honor the United Nations non taxable income rules - because then you can find yourself paying tax twice on your UN income if your designated retirement tax country implements a "Global taxation" based on tax residency regime. So, for me and for my former work colleagues at the UN, this was of primary or secondary importance because of UN tax treaties - which are in addition to our Citizenship and/or tax residency status. I stand my ground. When you retired you want to be living with country with proper health care, senior services , transportation and easy links to the world , preferably blessed with temperate climate and predictable political situation with reliable legal system. Few people would like to move to Somalia, Syria, Myanmar , North Korea or some remote Pacific island, just to name a few just to avoid paying taxes. Nice to have but certainly not priority of sane person approaching twilight years. Olddaddy 1 Quote
vinapu Posted June 27 Posted June 27 4 hours ago, bkkmfj2648 said: Posted today in the Bangkok Post regarding some further clarifications about the Thai government wanting to tax our global income, as foreigners who are deemed to be "tax residents" (living in Thailand in excess of 180 days in a year). https://www.bangkokpost.com/business/general/2818689/navigating-new-foreign-income-rules no compassion from me as those rules are mirroring situation where I live, residents are supposed to pay tax on worldwide income, non residents by source i.e. only on income earned from the country ( subject of some exceptions, of course made by rich for the rich ) Quote
bkkmfj2648 Posted June 28 Posted June 28 Probably will become the most popular tax minimalization strategy for us expat tax residents in Thailand. vinapu 1 Quote
bkkmfj2648 Posted June 30 Posted June 30 Another update regarding the Thai tax situation as prepared by the famous Youtube star, Chris Parker's channel = Retired Working for You. Quote
Olddaddy Posted June 30 Posted June 30 On 6/28/2024 at 1:27 AM, vinapu said: I stand my ground. When you retired you want to be living with country with proper health care, senior services , transportation and easy links to the world , preferably blessed with temperate climate and predictable political situation with reliable legal system. Few people would like to move to Somalia, Syria, Myanmar , North Korea or some remote Pacific island, just to name a few just to avoid paying taxes. Nice to have but certainly not priority of sane person approaching twilight years. Easy links to the World 🌍 Forget Australia Quote
bkkmfj2648 Posted July 1 Posted July 1 Ben Hart, from Integrity Legal - just put out this short 4 minute video about a new Immigration Form being requested when renewing your long stay visa (Retirement and/or Marriage) regarding your bank account details. Ben is worried that this new form is the first step towards eventually wanting to see our Thai tax return and/or tax payment in order for our long term stay visa to be renewed? One of the Youtube comments is VERY interesting for us retirees living here in Thailand: Ben, my question is. I have 800,000. Baht in a Thai Bank account to keep a Retirement Visa. If they decide to Tax it. It now drops below the 800,000. Baht. Do I no longer qualify for the Retirement Visa? Your thoughts please. I see fun times ahead :>)) partial screenshot of NEW immigration form regarding our bank details: reader 1 Quote
