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wordchild

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About wordchild

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  1. Exactly the case; the foreign quota is an ownership restriction that applies too the totality of the condo ie foreign owners cannot own more than 49% of the freehold of the entire condo; if a condo owned by a foreigner is purchased by a Thai then it simply no longer forms part of the foreign quota.
  2. Many companies offer to do this on behalf of their investors, as a shareholder in eg HSBC you can elect to receive your dividends in extra shares rather than cash. It is usually termed as receiving a “scrip dividend “ . Not all companies offer this so need to check.
  3. So your relative knows now that he received the incorrect amount. So he understands ( I assume) that the right thing to do would be to go back to the shop , and return the excess amount. It’s simple isn’t it. That is what he should do. if he can’t do it then he can easily get you or someone else to do on his behalf. Why the problem?
  4. In English, which says a lot: home of a local farang nutter I would guess. There are one or two of these in most towns of any size in Thailand. Someone to stay away from!
  5. 1) do not remit (significant) funds to Thailand in baht, this can cause a red flag , and, at the least, subject you to questions. Exactly as Blackcab says above, remitting foreign currency will cause no issues. 2)to (legally) avoid tax do NOT remit money as you earn it every month. hold your earnings offshore outside Thailand until Jan 1 of the year following the year in which you earned the money. Frankly, for the amounts you are talking about , you would be well below the radar anyway and almost certainly no one would ask questions. But if you want to be completely safe and also completely legal bringing money into Thailand in the year after you earned it would ensure that you would have no (Thai ) tax liability even if the Tax people found out about it and questioned you.
  6. Tax rates would scale in a similar way to other countries, probably less than Germany more than USA ( depending on state). but you have NO legal obligation to pay tax in Thailand if your earnings are offshore as you suggested in your first post. what you should do, to be safe, is simply hold your earnings in a bank offshore until sometime after the end of the calendar year, then you can legally and safely bring them into country completely tax free.
  7. Why on earth would you want to pay tax?
  8. I would avoid transferring money from outside Thailand into Thailand in baht, firstly rates for baht purchase offshore are significantly worse , generally, than you would get in Thailand. And secondly, it may trigger extra questions from your bank, (to satisfy Bank of Thailand requirements ) eg where/why did you obtain baht outside Thailand? On taxation the answer is yes, your income brought in monthly, in the way you describe, from outside Thailand, could be subject to Thai income tax. As a general rule current year income ( even if earned outside )transferred into Thailand, is subject to Thai tax. If you hold income offshore until after December 31 in any given year, then ( under current guidance) you would be regarded as transferring in your savings or capital and this would then not be subject to Thai tax.
  9. Car import - worth an attempt?

    I am sorry to say this but, to be frank, I have read other posters on this subject , on this forum, and it’s clear to me that some people who have tried to import their cars into Thailand did not really fully research or understand the process and how all the various calculations work. I have seen posters complain about being let down because rules/ duty rates were changed at the last minute when, really, it is obvious from what they say, that it was their lack of understanding that created the problem. And all the Thai customs did was apply their normal rules and scales of duty. There was a long running thread on this forum ,a few years ago , started by a guy who was trying to import his “special” car into Thailand. From memory he lived in Cha Am. He ended up ( as I remember)“ donating “ his car to the Thai customs. I was importing my own car at around the same time and, luckily I had some help and advice with this. So I had a good idea about what needed to be done. I remember reading his posts about how unfair everything was and how he was badly let down by the whole process. But really it was clear , to me ,from what I had learned and from what he said, that he did not have the first clue about what he was doing and that he was totally confused about how the duty calculations worked. As I said above,it’s perfectly possible, as a Thai citizen, or resident (with WP) to import a car into Thailand , BUT, it’s expensive and there are a number of hoops to jump through. And it seems like it has got more difficult in recent years. In general, I would say, it’s not worth the effort.
  10. Car import - worth an attempt?

    I did it, 2009: and posted on this forum about my experience. I know of 2 other people who have also imported cars into Thailand for personal use. For me, it was/is a very special car and ,for a number of reasons , very well suited to Thai road conditions. So I have been very happy to have done it. As i have said before on this forum, my advice would be that ,in general, the costs and hassle mean that, for most people , it would not be worth the bother. And I believe that, as others have commented, it’s become much more difficult in the last few years.
  11. AIS Fibre Down?

    It’s very very slow loading on certain sites and some won’t open. I suspect there is a problem with one of the international links, as, for me, local sites seem to be fine.
  12. not relevant, don't waste your time; mostly this thread is about the Thailand/UK double taxation treaty; completely different situation for a US citizen residing in Thailand
  13. What I said was correct, however do your own research. Maybe start by reading the actual treaty, ie as regards taxation between the U.K. and Thailand, rather than quoting from some generic comment. Many taxation treaties ,that the U.K. has with other countries, cover private pensions, however the current one (with Thailand) does not. Most pensions and ALL private pensions are not covered by the existing U.K. Thailand tax treaty, that is a fact. If you doubt what I say get reading. The existing treaty is somewhat dated and is lacking coverage in many important areas. Not only pensions, but in other somewhat more significant, commercial areas. There has been a new treaty in the works for a number of years now, but it keeps getting delayed, for one reason or another. Maybe when the new one is duly signed off it will include a reference to the mutual treatment of pensions.
  14. Withholding tax, deduction on transfer at the land office. No need to declare it they will deduct from your proceeds. No escape, sorry! Just one of the (hidden) costs of property ownership inThailand that the property bulls here often forget to mention.
  15. I am sorry but this is just tosh, you obviously have not read the treaty. As others have correctly commented above, pensions (other than certain government employee schemes) are not covered by the current UK/Thailand treaty. So there is a (maybe remote) possibility of pension payments credited into Thailand from the U.K. being taxed again in Thailand.
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