News Forum - Thailand banks team up for digital revolution: Collaboration to launch retail CBDC
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News Forum - Thai elderly to soon receive 10,000 baht cash aid: Finance Ministry
The Ministry of Finance is poised to introduce a one-time cash payment initiative targeting the elderly, as confirmed by Deputy Finance Minister Paopoom Rojanasakul. This proposal, amounting to 10,000 baht, will be presented during the upcoming economic stimulus policy committee meeting scheduled for Tuesday, November 19. This new measure specifically excludes state welfare cardholders and … … The story Thai elderly to soon receive 10,000 baht cash aid: Finance Ministry as seen on Thaiger News. Read the full story -
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News Forum - Gambling addict arrested for cash theft after disguising as monk
A young man addicted to gambling has been apprehended after stealing his relative’s ATM card and withdrawing nearly 500,000 baht until the account was empty. He used the money for gambling and later fled to become a monk, hoping for forgiveness. However, the relative reported the theft to the police, leading to his arrest yesterday, … … The story Gambling addict arrested for cash theft after disguising as monk as seen on Thaiger News. Read the full story -
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News Forum - Thai tax riddle: Elite Visa holders off the hook?
Quote:- A group member claimed, after attending a webinar, that Elite members might be exempt from needing a tax number or filing tax forms, potentially aligning them with the tax-friendly Long Term Residence (LTR) visa holders, who enjoy no personal taxation on overseas income sent to Thailand. Thailand thinks it is OK to implement a new taxation regime, as required under their implementation of the CRS requirements and in order for preferential trade with EU and to join OECD one day. BUT then they provide an exemption to those Expats who are wealthy enough to buy an expensive long term Visa? Well if that is true, they can go fornicate themselves if they expect 'ordinary' Expats like me to pay any income taxes in Thailand under any circumstances. Australia is a member of the OECD and if Thailand ever hits us with an income taxation bill, we will be moving back to Australia and lodging a formal complaint seeking re-imbursement of any taxes paid to Thailand. I am retired, but I will put in the effort to seek others to lodge a 'group case' against TRD Thailand, and I will kick up the biggest stink I can make (never to return obviously). Judging by how this place works - anything on social media that causes them embarrassment or potential damage to their tourism, does get addressed by the Thai authorities. -
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News Forum - Thief caught after stealing historic sword from Bangkok temple
A notorious thief was apprehended after stealing a revered sword belonging to King Taksin from a renowned temple in Thonburi, Bangkok. The suspect, claiming self-defence intentions, was not believed by police who suspected a different motive. The incident occurred at Wat Intharam Worawihan, situated in Bang Yi Ruea, Thonburi, where the sword went missing on … … The story Thief caught after stealing historic sword from Bangkok temple as seen on Thaiger News. Read the full story -
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News Forum - Thailand to tax residents’ foreign income irrespective of remittance
It is now November and Thai Tax Office (TRD) has still not released clarifications or details, nor have they released their annual 'How to complete PIT Tax Guides'. Talk about incompetent and disorganised - the biggest change to income taxation is this country for many decades, and they still have not provided what in every western country would be mandatory BEFORE the new taxation rule was changed - details on how the change will impact people, and training for the tax professionals, and detailed Q&A for all. A mate I know in Pattaya is planning a move with some friends there, to Cambodia or Vietnam. They want to spend time in Pattaya, because they are all very 'comfortable' there - lots of Expats and services and they know what is where and when etc.. So what they plan to do, if this goes ahead and Expats are 'nailed to the cross', is to base themselves over there and visit Thailand 2 times a year (maybe 3 if OK) for 3 months at a time. They reckon and I agree, that if you come in as a Tourist they cannot hit you with income taxes - under the Income Taxation Act Tourists are not subject to income taxation - only residents living here. It looks like how it will work is that if TRD is made aware (by Thai banks) of a Foreigner receiving over X Million Baht is foreign deposits (X = 2, 5, 10?) and they have no tax return/s in that name, they will verify with Immigration if they are a long-stay Expat (retired, married, working, etc). If they are on a long-stay Non-Immigration Visa then they may get in contact and ask why do tax return/s. Many people think it is all too hard and TRD will just continue to 'let it go' for Expats, but there is also the concern that the Govt is hammering the TRD to introduce a new taxation system and to enforce compliance a lot more. They need more taxation in order to meet the Budget shortfall due to a declining economy, ageing population, and the need to pay for all the 'stimulus programs' (vote buying) they have been doing and will do it the future. Reducing the public service and slowing waste and corruption is never mentioned of course. Unfortunately, Expats would be caught up in that new system and new enforcement. No one knows for sure what will happen (still) but I do know this, any retired/married Expat who willingly raises their heads so TRD can see them (lodges a tax return) is IMO risking a lot of trouble. Wait and watch is my plan - wait and watch.
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