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New tax rules for foreign-sourced income

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Posted
On 10/31/2024 at 11:19 AM, vinapu said:

I was told he retired to a seaside beach resort in Laos

I though it was a seaside resort  in Uzbekistan?

Posted
45 minutes ago, Keithambrose said:

I though it was a seaside resort  in Uzbekistan?

When we went to school Aral lake was actually called Aral Sea and was 5 times bigger than now. Then Soviets started to change river courses and sea become pond

Posted
7 hours ago, vinapu said:

When we went to school Aral lake was actually called Aral Sea and was 5 times bigger than now. Then Soviets started to change river courses and sea become pond

Also using the water from the rivers to grow cotton, I believe. 

Posted
5 hours ago, Keithambrose said:

Also using the water from the rivers to grow cotton, I believe. 

Indeed. That was reason for whole exercise and turned disaster. 

Posted
3 hours ago, thaiophilus said:

... or one in Liechtenstein? 🌴🏖️🌴

Bolivia?  San Marino, etc....

Posted
7 hours ago, 10tazione said:

not seaside, but at least it has sea view!

There's always the Vatican, if of a religious persuasion! May be sea view there from top of St Peters.

Posted
15 hours ago, Keithambrose said:

Bolivia?  San Marino, etc....

No.

It has to be Uzbekistan or Liechtenstein because they are the world's only doubly-landlocked countries 🌴🏖️🌴

Posted
6 hours ago, Keithambrose said:

There's always the Vatican, if of a religious persuasion! May be sea view there from top of St Peters.

and even if there's no view it holds the record for papal density with 5.2 popes per square mile (2.0 popes per square km).

Posted
10 hours ago, thaiophilus said:

and even if there's no view it holds the record for papal density with 5.2 popes per square mile (2.0 popes per square km).

It's only one. Benedict died already 

Posted
17 hours ago, thaiophilus said:

No.

It has to be Uzbekistan or Liechtenstein because they are the world's only doubly-landlocked countries 🌴🏖️🌴

Shame Austria  lost its coastline  after 1918!

Posted
On 11/4/2024 at 10:16 AM, Keithambrose said:

Shame Austria  lost its coastline  after 1918!

That is what usually happens when you are at losing end of war. You lose territory and  plenty of nice views. 

Posted
3 hours ago, vinapu said:

That is what usually happens when you are at losing end of war. You lose territory and  plenty of nice views. 

Or the winner, ie Russia, decides to move the borders and shift a country, Poland, to the West!  

Mind you, Italy made a sound strategic decision in 1915, to dump their allies, Germany  and Austria, in return for a promise from the Allies that they would be able  to hoover up large parts of south Austria/Hungary!

Posted

From Pattaya Mail

All Thailand’s expatriates should register with TRD says tax expert

By Barry Kenyon


All foreigners clocking up 180 days residence here, or more, during the calendar year 2024 should obtain a tax identification number from the Thai Revenue Department. They should also fill in the requisite tax form and submit it in the first three months of 2025, according to Thomas Carden the Bangkok-based founder and director of American International Tax Advisors. He accepted that the majority of expats would need the help of a tax professional to complete the bureaucracy.

Mr Carden emphasized that only overseas income actually transmitted to Thailand was relevant. “Issues such as pre-taxed pensions, non-assessable income and double taxation treaties are all important,” but our advice is to register even if you don’t believe you have anything to pay,” he told 100-plus members of the  Pattaya City Expat Club. “If you don’t register, then you risk audit at a later date, maybe years away, and have to prove your immunity. If you delay, the financial penalty screws can become tighter and tighter.”
 

He admitted that the TRD head office in Bangkok had failed to keep the provincial offices up to date. “That’s why expats turning up at local revenue offices have often been told to go away even if accompanied by their wife or a Thai speaker.” He added that there was bound to be initial administrative chaos, but the safest course of action was to register via a professional tax company. “Most pensioner expats living on savings and pensions will have nothing, or little, to pay and supporting bank or tax documentation is not required when submitting the form.”

Answering questions, Mr Carden said that taxing foreign residents was common to many countries these days, not just Thailand. He told one British audience member that it was best to register even though the guy had not remitted any income to Thailand in 2024 and would be unlikely to do so in 2025 either. “Registration doesn’t mean you have to pay,” Mr Carden repeated. In a brighter piece of news, he stated that TRD was not, for now anyway, investigating credit or debit card transactions.

Posted
On 10/31/2024 at 11:19 AM, vinapu said:

I was told he retired to a seaside beach resort in Laos

Not Pattaya, then?

Posted

Compliments to the TNT (Tim Newton Today) YouTube channel, as they posted yesterday a NEW (in English) .pdf document published by the official Thai Revenue Department about the new tax situation effective 01-Jan-2024.  I found it VERY helpful and it is about time that the Revenue Department start to publish information in English to help calm down the hornet's nest that has developed by their silence with the void being filled by foreign "tax specialists"; expat clubs, gossips, YouTube feeds, etcetra.

https://www.rd.go.th/fileadmin/user_upload/lorkhor/newspr/2024/FOREIGNERS_PAY_TAX2024.pdf

image.png.98e3b3eca436937ba42dbc1cde4cacb7.png

Posted

Things are definitely heating up in the foreigners giving Thai tax advice space.

I already advised the person at  PCEC (Pattaya City Expat Club) who organizes the weekly guest speaker space about the below YouTube video that was released today because they were specifically named in said video.

Once the below Thai article was published back in September - all hell has been let loose.

https://pantip.com/topic/42949323

Consequently, the void (silence) left by the Thai government about this issue is unfortunately being filled by various people with vested interests to perhaps gain something from the expats that they have frightened in Thailand.

 

 

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