pluto_manibo
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Posts posted by pluto_manibo
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19 minutes ago, georgegeorgia said:
I hate the village dogs
They attacked me in Isaan last time I was there
Groups of absolutely mutts
Next time if there is a next time I will go to the village up there near sisaket I will take poison
Animal cruelty is a punishable offence. Discussing your intentions to break the law(premeditation) and cause harm to animals in a country in which you are a guest is not a very intelligent move! Tough guy, maybe you should do everyone a favor and take the poison yourself!
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18 minutes ago, stat said:
Thailand (up to 2023), Philippines, Malaysia,Costa Rica etc all countries with a territorial tax system.
List of Foreign source income tax free country for Expat
Angola
Anguilla
Belize
Bermuda
Bhutan
Bolivia
Botswana
British Virgin Islands
Costa Rica
Democratic Republic of the Congo
Djibouti
Eswatini
Georgia
Guatemala
Guinea-Bissau
Hong Kong
Lebanon
Libya
Macau
Malawi
Malaysia
Marshall Islands
Micronesia
Namibia
Nauru
Nicaragua
Palau
Palestine
Panama
Paraguay
Saint Helena,
Seychelles
Singapore
Somalia
Syria
Tokelau
Tuvalu
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28 minutes ago, flexomike said:
you are comparing dollars to baht, no way would you be paying 17,000 dollars tax in Thailand
Without allowances calculated;
[email protected] baht= Baht 2,892,800
First Million( 5% for 150k-300k, 10% for 300k-500k, 15% for 500k-750k, 20% for 750k-1M)= Baht 115k
Second Million(25% for 1M-2M) = Baht 250k
892,000(30% for 2M-4M) = Baht 267,600
Tax to be paid= Baht 632,0000
Baht 632,[email protected]/$= $17,494
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The article is a bit misleading and xenophobic. The law is not only aimed at foreigners, all the Thai people who work abroad, invest abroad and want to remit funds, trying to survive in this difficult economic climate are the main targets. Unfortunately, foreigners are caught within the net. The majority of Thai people are not concerned about this law, their income is domestic, falls below the "heavy Tax " brackets or as most is not declared(numbers hover around 10% of population paying taxes). The foreign elements on fixed incomes/pensions seem to feel sheltered by the DTA(Double Tax Agreement) they might have and most fall to under the category of the heavier tax brackets. However, what the higher ups have not considered is that there is a whole economy reliant on these foreign remitted incomes which have been repatriated under the full structure of the law(income remitted not within the same year earned is not taxable, not a loophole!).
To impose such drastic changes, while the world is still suffering from important inflation, market volatility, declining investment possibilities, repercussions of the "Epidemic", loss of confidence in the economic, political climate and societal views; will not inspire confidence in the future. Neither will it induce spending! Some might fall in the ranks, complain and just accept it. However, many will look for greener pastures, value for money, more stable environments and better investments abroad. It will destroy families, communities which have developed an ecosystem from these remitted incomes, which outweighs by far any of the perceived benefits of future taxation of these foreign injected funds.
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15 minutes ago, Mike Teavee said:I also think I'll be caught up on this as I do the same with Dividend Income in that as a Non-UK Resident it is treated as Disregarded/Excluded Income on my Tax Return so I do not have to pay anything (above the already Withheld Tax) on it.
I am supposed to declare/pay it in the country I am resident in but as I don't bring the money over in same Tax Year there is nothing to declare/pay.
This new rule could see me having to declare/pay tax on the Dividend when I eventually bring the money over (Which given I typically re-invest the Dividend could be several years later when I sell whatever investment I bought with it).
Going to be a nightmare to try & keep track of it ????
Oh and Capital Gains Tax will also be a problem, currently don't need to pay anything on profits from share sales, now going to have to try to keep track of when I bought each individual share, what money (Savings, Dividend, Income from House) I used to pay for it & how much I made/loss on it ????
Thailand for < 180 days pa is looking better & better all the time.
I am planning on sucking it up for a few years and bring in the minimum in an acceptable tax bracket to add to the funds in Thailand. However my plans for the future have drastically changed. Having lived here since 1995, it will be a painful adjustment. I have been to all the neighboring countries and they do not appeal to me at all. I would hate to live there on standby for 183 days.
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2 hours ago, Dogmatix said:The difference is that they have made people frantic wondering how they are going to survive in Thailand with their overseas savings taxed as income by some greedy boneheads trying to make others pay for their vote buying, so they can stay in power enriching themselves with corruption.
I think this might cause;
- Thai investors to not repatriate their funds
- Foreigners to limit their time and spending in the country. More importantly forego any big expenditures(cars, surgeries, house purchase, medical expenses etc...)
- Foreigners to abandon their applications for LTR or Elite visa(as has been testified on Reddit by a handful of people)
- Real estate market to suffer
However, this has not been elaborated on and they might want to instill a sense of urgency in repatriating funds before the Tax comes into effect, to boost the economy. I think this will discourage future investments and spending.
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I would be interested in hearing what the Thai people investing abroad have to think about this sudden change of events.
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3 minutes ago, clearance said:
So, for example, if I'm a foreigner who lives in Thailand on an Elite visa. In 2024 I'm planning to buy a house or apartment there. I will transfer money from my savings abroad. And they will tax me for 35%?
Yes, you will pay 0% from 0-150k, 5% from 150k-300k(Baht7500),10% from300k-500k(Baht20,000),15% from 500k-750k(Baht37,500),20% from750k-1 million(Baht50,000),25% from 1million-2million, 30% from 2 million-5million and 35% on anything over 5Million. This is what we know so far.
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The scenario changes if you have a normal life with wife and family, pets, etc... Jumping around from country to country does not become a viable option. In the event of big purchases such as a new car, home repairs, a medical emergency outside the realms of your health insurance policy, etc....These would easily bring you into the 20-35% bracket(1 million-5 million) if funds were to be brought in from abroad.
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On 9/20/2023 at 6:13 AM, pluto_manibo said:Where would you relocate to?
Philippines....
Looks like alternating between Philippines and Thailand is the most budget friendly option. If taxing savings, not receiving any services in return but the privilege of breathing on Thai soil and doing the visa dance every year, I will have to make drastic adjustments as well.
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26 minutes ago, JimTripper said:The other options I saw (if I did not want to keep moving around every several months) were Cambodia, Mexico, Philippines or moving out into cheaper areas in the USA.
For Cambodia and the Philippines you will have to make adjustments to your living conditions, imported products are more expensive. You must also factor the costs of health issues. You probably will need to fly to Thailand or abroad for treatment. In regards to Mexico, residents are liable to Mexican income taxes on worldwide income.
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Taking into consideration;
- Inflation on products and services have become quite important in the last year
- Exchange rates have hovered at a sub par level for the last ten years
- The supposedly increased financial requirements for long term visas(Based on marriage or retirement)
- The restructuring and increased costs of the Elite visas
- New taxes on income earned abroad to be implemented from January 2024
I know that everyone's situation is different. Some believe that the double tax treaties will shelter them, some are not subject to double tax treaties, others do not have many obligations and can pick up and leave. However most of us, have established a life here(hopefully! Unless you want to live your life like Robert Deniro in Heat!); families, friends, real estate assets, businesses, pets etc....Leaving would be an option but not a popular one. The alternatives in this geographic area are also problematic in terms of changing requirements (Malaysia, Indonesia) and the other popular options are not so appealing in comparison to Thailand. It is too early to make drastic changes but nice to prepare an alternative in order to maintain a reasonable living standard. It seems that either you either make a major change to your standard of living in "developing countries", restructuring your finances and move to a tax haven or bite the bullet and hope for the best as your purchasing power/ savings/ pensions are eroded at an alarming rate. Where would you relocate to?
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To clarify, Lets' say you renew your yearly extension on January 1st 2024, would you need to have a Passport valid until June 2025 or would you be able to apply without any isues? I know you need to travel with a passport with nothing less than 6 months before expiration. Does this apply to marriage or retirement extensions? The passport would be valid during the whole period of the visa extension but does it need to have six months validity beyond that? Thank you.
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RIP Ubon Joe! You will be missed.
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11 minutes ago, GreasyFingers said:
Normally dry season in the south in those months, good luck.
Wet season has started now in Southern Thailand. June and July are never dry on the Andaman coast!
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5 hours ago, Phuketshrew said:
I can recommend the dentistry section at Mission hospital. First class and inexpensive.
Thank you for your reply! I am looking for the best quality, experience, care, standards in Phuket. Being such a popular tourist destination, I would have imagined more people have had dental implants in Phuket and could share their experiences and advice.
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I guess not! Well as an update for further reference. I have gone to both places for an evaluation and treatment plan. The doctor, Dr. Supachai at Bkk-Phuket Hospital, seems to be well recommended. The Phuket Cosmetic dental clinic has amazing facilities and very friendly, well spoken, patient approach. However their website was lacking and there seemed to be nobody at their clinic. Still debating, if going to Bangkok for treatment is a better option. Any experience or recommendations in regards to treatment and implants, would be most welcome. Thank you.
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Does anyone have a good address for the best care for cosmetic dentistry on Phuket? Scheduled for an appointment at Bangkok-Phuket Hospital but also booked in Phuket Cosmetic dental clinic. I have no experience with either. Just cracked and lost a bridge and looking into tooth removal and implants. Thank you.
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The airport departure lounge!
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Can not open, wikipedia, lazada and many other websites. Mail accounts can not open from mailbox on Mac OS as well. This seems to be a TOT issue, all seems fine if I switch to AIS hotspot through phone. Anyone else having these issues still?
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Same problem, with TOT right now. Can not open a few sites, outlook included.
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You can look on One2car.com.
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I just spoke to my local IO and they told me, I can do the report online, while reporting my current address or in person and their would be no issues at all. I will update within one month. If this is true, it is contrary to all the information online. Thank you.
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8 minutes ago, Peter Denis said:
When doing your 90-day report on-line, you need to use the address in the province where you are registered (which is Chonburi, in your case as it is the Chonburi IO that has to approve the 90-day notification).
But there is no problem doing it from your present location, as Chonburi is your 'official' IO address and it doesn't matter where you are staying at the moment when doing the 90-day report on-line, as that report simply confirms that Chonburi is still your official address.Would the conflicting current address in my TM30 report be an issue?
Thai's Cutting In Line
in ASEAN NOW Community Pub
Posted
Don't get frustrated! Just dump all your items on the counter and walk out! They will catch the drift.