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roderick17

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About roderick17

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  1. EU still open to Britain changing mind on Brexit

    I thought there had been a vote, and the British people decided to leave!!
  2. Hi Jim While the categories of overseas income you mention are exempt,what about other forms of personal exertion type income such as salary and wages or consulting fees earned while working offshore, are they also exempt under Thai Tax law??
  3. Give me his number and I'll give him call!!
  4. Hi Brit I haven't heard the word "fungible" for years. Its very apt though, you cannot separate cash once its deposited into a single account. You make a good point - thanks again !
  5. Hi Naam Transferring money at the beginning of each year sounds like a good idea to me !! Having said that there may probably be a tax trap for the unwary. If you place money in an overseas bank account, pay-in foreign sourced income and then make cash withdrawals through an ATM in Thailand, would each ATM payout represent a cash transfer and by inference make the transaction taxable? I know this is unlikely ever to be investigated, but it would be good to know the correct tax liability if it ever did !! Regards James
  6. Hi Naam Thank you so much for your comments , they are very helpful. I'm slowly coming to grips with Thai tax law !! If I understand you correctly, then income earned overseas in a particular year is only taxable if it is bought into Thailand in the the same year as it was earned. This seems straight forward enough, however there is a slight complication. If I have an overseas bank account with an exiting balance sitting in it of say 100,000 USD ( which has been there for many years) and earn 50,000 USD in the current year, I will end up with a bank balance of 150,000 USD . If I then transfer 25,000 USD to Thailand before December 31st, can I then say that this transfer has come from my exiting balance ( my 100,000 USD capital ) rather than from the income earned in the current year ? It seems to me that trying to differentiate whether a particular transfer was made from my capital or earnings could get very complicated. Has the tax office issued a ruling on this ?
  7. HI Naaam Sorry , one more question. What is the point of getting a TIN, unless you are registering with the tax authorities and lodging tax returns?
  8. HI Naam I agree filing a tax return is fraught with danger - nevertheless my understanding is that overseas sourced income earned by a Thai resident was not subject to local tax . Is this correct ?? I was also told that income tax was only applied when moneys are transferred from an overseas bank to a bank account in the Kingdom. Can you confirm this ??
  9. Greetings I am in the process of applying for a retirement visa for Thailand, where I plan to live for many years. Last year, I bought an apartment in Pattaya ( which will become my primary residence ) and mid-way through this year changed my residential address on a Bank account I operate in Singapore to show my new address in Pattaya. As I mentioned , I have not yet collected my retirement visa. My bank in Singapore has now asked me to produce proof that my income is subject to tax in the place of my tax residency - ie Thailand . I do not have a problem in declaring my overseas income to Thai authorities, because my understanding is my overseas income is not subject to local income tax anyway I thought one solution may be to ask a local accounting firm to prepare a set of tax returns for me and submit them to both the Thai tax authorities and to my Singaporean bank - to confirm I am complying with my tax obligations. I'd be interested to hear any thoughts on this option. Also. does anyone know of a local accounting firm - preferably in Pattaya - that would have the nouse in preparing tax returns for a falang !!
  10. This guy certainly deserves respect for deciding when the time was right for him !!
  11. Is Nambutal readily available in the kingdom??
  12. Hi Jaybird Which International broker would you recommend?
  13. Pattaya Go-Go clubs and bars targeted in new crackdown

    Respectable people - pray tell who are you talking about??
  14. MaCartney has always been known as a great musician and songwriter. He also has a reputation as being a complete tightarse as well!
  15. Is he not rich enough already?
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