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SCOTT FITZGERSLD

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About SCOTT FITZGERSLD

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  1. YES THERE IS a global income tax requirement in thailand. maybe you want to check for updates on line. and yes there is capital gain tax in thailand. a thai tax resident will pay 37% on his profits from stock trading, but limits apply. seems like you dont know what you are talking about. thailand tax laws are ever changing, like in most other countries. Thailand taxes worldwide income, just as the US does. But unlike the US, only residents are taxed on their worldwide income while non-residents are taxed only on the income earned in Thailand.
  2. define PEOPLE... a friend of mine came back from a trip to china and said "the people there are very nice". his girlfriend complained: " what people? all you did was looking at young pretty woman". my friend replied: "that's my definition of "people" ".
  3. i guess you miss one word here - OUT. otherwise, all you say does not make sense
  4. problem is, as you mentioned, that banks abroad report foreign accounts to the country where i am tax resident. Banks abroad demand to know where i am tax resident and than report my account to that country. Thailand does not report. not yet. that is why i prepfer to move to thailand, to register thailand as my tax residency and than to feel more free about my bank accounts abroad. it is not me who make things complicated, it is the global system who becomes more and more like financial concentration camp. even using your card to pay in another country might be considered, technically, money laundry.
  5. THAT is indeed the problem, how do they decide / search if it was earned the same year it was sent? from what i read, a tax resident in thailand must pay taxes on income earned ALL OVER THE WORLD, besides capital gains . so the question is, what is defined as capital gains? say i hold a stock for two years, than sell at a profit and transfer to thailand the same year i sold - will it be considered taxable income? AND how will they decide if it was earned the same year? ohhh, thailand, so easy, and yet so blurry.
  6. what mean? as a foreigner / local, all i should care about are the taxes and comisions i have to pay. and of course, if i trade the right way, than i don't have to care about anything anymore... it is very unlikely that thailand will see some crazy north korean style military government that will steal all foreigners accounts (we saw it recently in EU country like cyprus, where the EU taxed all bank deposits as they liked...) so the only question, for a foreign trader, is...what are the visas neccasary to open a trading account in thailand? http://www.scbs.com/en/product/product-offshore/
  7. how about buying foreign investment / securities via thai banks? i saw that SCB offer offshore investment account, with quite god fees, and access to stock markets in many countries. does anyone know if those foreign trading accounts are allowed also for foreigners on retirement extention? and if other thai banks offer them? http://www.scbs.com/en/product/product-offshore/
  8. how about buying foreign investment / securities via thai banks? i own shares in SHELL company, which pays 6.5% annual dividend. i saw that SCB offer offshore investment account, with quite god fees, and access to stock markets in many countries. does anyone know if those foreign trading accounts are allowed also for foreigners on retirement extention? and if other thai banks offer them? http://www.scbs.com/en/product/product-offshore/
  9. from time to time, people post here about how they were "deported / stopped / denied entry" in thai airports, telling us how well they behaved all those years and the advanced degrees they hold from several universities. i must come to the deffence of thai immigration , based on my experience. i was also told by immigration officers in thailand that i come to thailand too many times on tourist /waiver visas, and that if i will continue to do so, they will deny my entry. so i kept on doing so and i was warned again and again, until i understood...the nice way. that is, i understood i better issue the right kind of visa. so it must be mentioned, to the deffence of thai immigration authorities, that they do give all the right warnings on time, nobody is denied entry just like that out of the blue. all the people who come to complain here about how they were denied entry and how "thailand no like falang anymore" are just talking nonsense. The thai immigration authorities are quite fair when dealing with most visitors and give them the right - and kind - amount of warnings before denying their entry.
  10. you can read about this story if you search "dutch man 100 years thai jail". it was 100's of millions of baht, not dollars. he propably brought all this money to thailand to save it from confiscation by EU atax authorities (he had some tax problems in his home country), but thai law say that tax evasion is not a reason for money laundry. the bottom line of this story is that the verdict this dutch man got was not according to the thai law. later his 100 years sentence was reduced to 70 years, and later to 20 years. why? because that is how the "senior officers" felt like. that is the problem with flexible rule of law like thailand's. it might feel nice to get shortcuts like those semi legal visa agents, but it can get nasty when the unsystematic system turns it's table on you.
  11. i don't care if it's illegal or imoral. all i care about is if it will not get ME into trouble.
  12. i don't feel comfortable transfering money into thailand, after some horror stories i've heard, that happaned to people with "TOO MUT" money in their thai bank. a recent story that was published on this board was that of a dutch man who was sentenced to 100 years (!!) in jail for "money laundry" by thai court, while his crime was only tax issues in this home EU country. his mistake was transfering hundreads of millions of baht to thai bank accounts, the thai banks allowed the payments no problem, and years later he lost it all. just like any senior immigration officer can issue or cancell visas as much as he likes, so the authorities here or in other countries can, for the right amounts, arrest you or confiscate your bank money , with and without the help of this or that agent. so better keep your thai bank account thin and slim.
  13. THANKS for your reply. i guess that explain it all. that is the explanation to the legality of those agents and i guess this is how they do it. maybe twisted, unjust, inconsistent, but i don't mind, as long as it will not get me into troubles.
  14. really? that is interesting...but how will they know when i made it? will they demand to show them all the bank records? AND what if i open a trading account in a thai bank, will the same ONE YEAR = TAX apply?
  15. my fear is what will happan to me, if i used such an agent, legal or not, in case he gets caugth?
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