I agree with most of what Mr. Foulds is saying, but in reality the Visa Extension requirements for retirees really haven't changed that much over the past 20 years or more.
Up until a few years ago the only way you could obtain a retirement visa (extension) was that you had to have a minimum of 65,000 THB annual income as proof of financial stability. Then they provided an additional option for those who couldn't, for whatever reason, prove that they received this income - which is when the 800,000 THB scheme came into play. With the exception of the health insurance mandate which is now being required for retirees holding O-A Type Visas, nothing else has really changed.
The 90 reporting process should be totally abolished...no doubt about it. We have a local visa agent right here in Bang Saray that I pass every single day on my way to the beach who can process the report for me every 90 days if I ever get tired of doing it myself for the price of a hamburger, thus the reason I never even give this a second thought.
As far as the new tax proposals that are being bantered around, you can bet that this has already created tons of confusion and chaos in the Thai Revenue Department and won't result in retired expats having to pay any taxes to begin with.
If in fact a time ever comes (probably not in this epoch) where retired expats are expected to complete annual tax reports - there will be plenty of local accountants around town who would be more-than-happy to submit the tax form to the RD for you for a nominal charge of course.
This is Thailand's problem - not ours.
By Barry Kenyon
Re: By Barry Kenyon
Paying up for a premium visa is less attractive when the country offering it can still stop holders entering on a whimBarry Kenyon wrote: ↑ “It’s as if older retirees in my position are being deliberately squeezed or forced into expensive visa options such as the 10-year Long Term Residence or 5-20 years Elite,” added Mr. Foulds.
Thailand has already done that once.
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Gaybutton
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Re: By Barry Kenyon
Also, they have had no problem about changing the rules in the middle of the game, sometimes without even adequate advance notice.
In my opinion, if they want to change rules, requirements, taxes, or whatever, any of that should apply only to new visa applicants, who have a choice whether to accept the requirements or not. But definitely none of it should apply to those already holding visas such as the retirement visa - people who became expats in Thailand based upon what they were offering and now have made their lives here.
Re: By Barry Kenyon
In 20 years of renting a condo, for several months at a time, I have never seen or been given a TM 30. Is this something new?
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Gaybutton
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Re: By Barry Kenyon
Gay marriage in Thailand will take longer than currently anticipated
By Barry Kenyon
November 27, 2023
Thai premier Srettha Thavisin has promised to fast-track the promise to allow same sex marriage in Thailand with parliamentary debates planned as early as December 2023. A favorable outcome is not seriously in doubt even though conservative backwoodsmen in the House of Representatives will doubtless argue for a diluted form, such as a civil union, or even try to pass a delaying amendment to put the whole subject on hold whilst more “research” is done. But there is substantial support for gay marriage within the military-backed parties which are in Thavisin’s multi-party coalition so, overall, hostility will be spasmodic.
Even so, the job may take many months to see the final light of day. Take for example the thorny issue of adoption which is currently legal in Thailand only for heterosexual married couples, or single females in strictly-defined circumstances. When Taiwan introduced gay marriage in 2019, there was no provision for adoption, although this restriction was removed in May 2013. It will be surprising of the issue of adoption does not cause controversy in Thailand over the next few months. Separately, there are over 50 Thai laws dealing with pensions, taxation, crime and even national security that will need to become gender-neutral.
Then there will likely be provision for religious or civil officials to refuse to participate in gay marriage registration because of conservative personal beliefs. This issue caused trouble in the United States where, eventually, the supreme court earlier this year ruled that a baker was justified in refusing to sell a wedding cake to a gay couple. Many see this decision as a harbinger of more attacks on gay rights in America in future. Although the situation does not mirror the Thai scenario, it does reveal how a law can still sometimes be successfully challenged by the judiciary.
Another complication for Thailand is the role, if any, of foreigners. When Taiwan first passed its gay marriage law, it specified that a foreigner could marry a same sex Thai partner only if gay marriage was allowed in the country of his or her national passport. Again, this ruling was amended in January 2023 so that a foreigner could even hail from a country where homosexuality was illegal, but the controversy had rumbled on for several years. A separate issue is what will happen if two foreigners wish to register their same sex marriage in Thailand. In France, to give one example, this is only possible if at least one partner has a substantial stake in France, for example owing a house.
Still on foreigners, will there be Thai visas for those married to a Thai national? Currently, the so-called marriage visa requires the heterosexual foreigner to show evidence of 400,000 baht in the bank, or a regular income, to justify the visa and the annual extensions of stay. Given all the current rumors about foreigners and taxation, medical insurance and other matters, one imagines the issue of same sex visas might take some time to resolve. Finally, foreigners contemplating same sex marriage should consider Thailand’s divorce laws which can be a minefield if no harmonious end is in sight. If half of Thailand’s heterosexual unions end up in tears, the gay equivalent is not likely to fare any better. A case of look before you leap.
https://www.pattayamail.com/latestnews/ ... ted-446380
By Barry Kenyon
November 27, 2023
Thai premier Srettha Thavisin has promised to fast-track the promise to allow same sex marriage in Thailand with parliamentary debates planned as early as December 2023. A favorable outcome is not seriously in doubt even though conservative backwoodsmen in the House of Representatives will doubtless argue for a diluted form, such as a civil union, or even try to pass a delaying amendment to put the whole subject on hold whilst more “research” is done. But there is substantial support for gay marriage within the military-backed parties which are in Thavisin’s multi-party coalition so, overall, hostility will be spasmodic.
Even so, the job may take many months to see the final light of day. Take for example the thorny issue of adoption which is currently legal in Thailand only for heterosexual married couples, or single females in strictly-defined circumstances. When Taiwan introduced gay marriage in 2019, there was no provision for adoption, although this restriction was removed in May 2013. It will be surprising of the issue of adoption does not cause controversy in Thailand over the next few months. Separately, there are over 50 Thai laws dealing with pensions, taxation, crime and even national security that will need to become gender-neutral.
Then there will likely be provision for religious or civil officials to refuse to participate in gay marriage registration because of conservative personal beliefs. This issue caused trouble in the United States where, eventually, the supreme court earlier this year ruled that a baker was justified in refusing to sell a wedding cake to a gay couple. Many see this decision as a harbinger of more attacks on gay rights in America in future. Although the situation does not mirror the Thai scenario, it does reveal how a law can still sometimes be successfully challenged by the judiciary.
Another complication for Thailand is the role, if any, of foreigners. When Taiwan first passed its gay marriage law, it specified that a foreigner could marry a same sex Thai partner only if gay marriage was allowed in the country of his or her national passport. Again, this ruling was amended in January 2023 so that a foreigner could even hail from a country where homosexuality was illegal, but the controversy had rumbled on for several years. A separate issue is what will happen if two foreigners wish to register their same sex marriage in Thailand. In France, to give one example, this is only possible if at least one partner has a substantial stake in France, for example owing a house.
Still on foreigners, will there be Thai visas for those married to a Thai national? Currently, the so-called marriage visa requires the heterosexual foreigner to show evidence of 400,000 baht in the bank, or a regular income, to justify the visa and the annual extensions of stay. Given all the current rumors about foreigners and taxation, medical insurance and other matters, one imagines the issue of same sex visas might take some time to resolve. Finally, foreigners contemplating same sex marriage should consider Thailand’s divorce laws which can be a minefield if no harmonious end is in sight. If half of Thailand’s heterosexual unions end up in tears, the gay equivalent is not likely to fare any better. A case of look before you leap.
https://www.pattayamail.com/latestnews/ ... ted-446380
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Gaybutton
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Re: By Barry Kenyon
Sex scandal in Pattaya: today’s news is tomorrow’s history
By Barry Kenyon
December 5, 2023
You might need a VPN to watch in Thailand Deutsche Welle’s recent documentary about Sin City, but the theme is hardly new. Fifteen years ago, a European diplomat said she had seen no evidence of child prostitution on a day trip to Pattaya, but then achieved a flurry of publicity after admitting she had never left the confines of her five star hotel on the Naklua Road. Meanwhile, Which? magazine once labeled Pattaya as one of the 10 worst holiday destinations globally because it was dirty in every sense of the word. The News of the World, of forlorn memory, often sent reporters to Pattaya when short of a front page splash involving clerical pederasts on the run or British members of parliament enjoying a golf holiday – even though they had conveniently left their clubs at the airport.
In the last 10 years, Pattaya has been more fortunate in its headlines. The diversification of Pattaya into five star hotel facilities and family entertainment, the growth of the MICE (conventions, exhibitions etc) and the transformation of the city into a concrete jungle all seemed to stifle the sexual undertones. Indeed, the most widely-reported Pattaya crime story of the last decade was probably the arrest of 30 European bridge players in 2016, even though they were never charged with any offence. The importance of Pattaya in the Eastern Economic Corridor, a mammoth investment project which has (for example) brought major road improvements to the area, has been publicized in the quality press but ignored by everybody else in the media.
Pattaya police, acting on orders from above, have made several attempts to clean up the city which continue to the present day. Pedophile-friendly bars, for example in the Sunee Plaza district, were all permanently closed. Sex shows were no longer openly on offer and have been replaced by orthodox cabaret in the nightery districts. City Hall, during and after the covid pandemic, has completely redesigned the famous Walking Street. The number of gogo bars has substantially declined and there are now at least eight Indian clubs and restaurants which reflect the ever-changing tourist population in the city. Why so many Indian and Chinese men come to Pattaya is still an unreported story.
Thus the hostile Deutsche Welle documentary has come as something of a temporary shell shock. Thai authorities have reacted as they always do – institute an inquiry and order a few heads to roll – but a serious attack on Pattaya nightlife is out of the question. The prime minister has made it very clear in recent months that the country needs more and more tourists, so extinguishing the bright lights of Sin City is hardly part of that agenda. In coming weeks, we are going to hear much about the benefits of zoning, making the resort safe for families with children, ending police corruption and introducing waste water treatment systems. Still, as Night Owl columnist Bernard Trink once observed, “Pattaya listens to everybody but doesn’t always hear.”
https://www.pattayamail.com/news/sex-sc ... ory-447012
By Barry Kenyon
December 5, 2023
You might need a VPN to watch in Thailand Deutsche Welle’s recent documentary about Sin City, but the theme is hardly new. Fifteen years ago, a European diplomat said she had seen no evidence of child prostitution on a day trip to Pattaya, but then achieved a flurry of publicity after admitting she had never left the confines of her five star hotel on the Naklua Road. Meanwhile, Which? magazine once labeled Pattaya as one of the 10 worst holiday destinations globally because it was dirty in every sense of the word. The News of the World, of forlorn memory, often sent reporters to Pattaya when short of a front page splash involving clerical pederasts on the run or British members of parliament enjoying a golf holiday – even though they had conveniently left their clubs at the airport.
In the last 10 years, Pattaya has been more fortunate in its headlines. The diversification of Pattaya into five star hotel facilities and family entertainment, the growth of the MICE (conventions, exhibitions etc) and the transformation of the city into a concrete jungle all seemed to stifle the sexual undertones. Indeed, the most widely-reported Pattaya crime story of the last decade was probably the arrest of 30 European bridge players in 2016, even though they were never charged with any offence. The importance of Pattaya in the Eastern Economic Corridor, a mammoth investment project which has (for example) brought major road improvements to the area, has been publicized in the quality press but ignored by everybody else in the media.
Pattaya police, acting on orders from above, have made several attempts to clean up the city which continue to the present day. Pedophile-friendly bars, for example in the Sunee Plaza district, were all permanently closed. Sex shows were no longer openly on offer and have been replaced by orthodox cabaret in the nightery districts. City Hall, during and after the covid pandemic, has completely redesigned the famous Walking Street. The number of gogo bars has substantially declined and there are now at least eight Indian clubs and restaurants which reflect the ever-changing tourist population in the city. Why so many Indian and Chinese men come to Pattaya is still an unreported story.
Thus the hostile Deutsche Welle documentary has come as something of a temporary shell shock. Thai authorities have reacted as they always do – institute an inquiry and order a few heads to roll – but a serious attack on Pattaya nightlife is out of the question. The prime minister has made it very clear in recent months that the country needs more and more tourists, so extinguishing the bright lights of Sin City is hardly part of that agenda. In coming weeks, we are going to hear much about the benefits of zoning, making the resort safe for families with children, ending police corruption and introducing waste water treatment systems. Still, as Night Owl columnist Bernard Trink once observed, “Pattaya listens to everybody but doesn’t always hear.”
https://www.pattayamail.com/news/sex-sc ... ory-447012
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Gaybutton
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Re: By Barry Kenyon
Myths about Thai expats and those income tax changes starting very soon
By Barry Kenyon
December 7, 2023
Most expats in Thailand live on income or capital, or both, built up over many years with tax already paid in the country of passport. They are understandably worried by the imminent change in Thai Revenue practice – it is not a new law passed by parliament – which will potentially tax new and assessable foreign-sourced income beginning in January 2024. Pattaya Mail has received more concerned reader feedback about this issue than any other during 2023. With inauguration day fast approaching, here is our summary for the typical expat who does not indulge in major currency speculation, huge profit-taking from overseas businesses nor off-shore bank accounts hiding their cash.
Has the Thai Revenue clarified the position of typical expats? No. It is commonly assumed that the Revenue is mainly interested in rich Thais and foreigners who have manipulated Thai tax rules in the past to avoid payments from overseas. Typical expats with home-country pensions or social security allowances are not part of this agenda, though in theory they could be caught in the crossfire. Talks are continuing between senior accountancy firms, lobby groups and the Revenue about this and other issues. Don’t expect answers any time soon.
Will my international cash transfers to Thailand from January 1 2024 be reduced on arrival by a Bank of Thailand tax levy? No. There will not be any changes from current practice. You pay tax in arrears in Thailand by registering at the Revenue for a tax identification number and paying tax due, if any, in the next fiscal year. There is no PAYE procedure in Thailand. The misunderstanding that Thailand will tax international transfers as the cash arrives is a widespread misconception
Should I apply for a tax identification number? Not unless you receive an instruction from a government source or the immigration, both very unlikely scenarios. It is almost certain that, at any rate in the early years, tax registration will be voluntary. If you believe you have been taxed already on your cash sent to Thailand, it’s best to do nothing now. There is no need to employ the services of tax accountants if you are a typical expat (unless working here on a work permit which is a separate subject). The tax situation as regards cash sent to Thailand to purchase property is a separate source of ambiguity.
Most countries with expats here have a double taxation treaty with Thailand, so is that relevant? That depends on the exact wording of complex documents which differ substantially one from another. Double taxation treaties are designed to be used only in cases where Thailand and the first country cannot agree on who has the right to tax. If Thai Revenue were to clarify unambiguously that previously taxed income would not be retaxed, the issue would largely die.
If I need to later, how will I prove that my cash transfers to Thailand have already been taxed? This will vary on an individual basis. An expat’s tax return or the response by the internal revenue service of the first country might suffice, or a simple statement on a tax form might be acceptable. Few experts, if any, believe that the Thai Revenue has the staffing or the expertise to deal with more than 300,000 expats who are tax residents because they spend more than 180 days here in a fiscal year. It bears repeating that the registration process will likely be voluntary. The Thai government is looking for the big fish, Thai or foreign, and not the small fry.
How does Thai Revenue know about your international cash transfers? Most countries in the world, around 120 and including Thailand, are now part of the CRS (Common Reporting System) which requires financial institutions worldwide to fight tax evasion and to protect the integrity of tax systems by sharing your banking transactions with partner countries. This means that your international transfers have been/ are/ will be monitored by Thai financial authorities. Some experts believe that Thai Revenue will use CRS as the route to question rich Thais and foreigners about large international transactions. Amongst the countries not registered for CRS are North Korea and the Vatican.
What is the Thai government really up to? The new post-coup government simply wants to raise cash, in part to help pay for its populist policies such as the 10,000 baht give away scheme. One can assume that nobody in authority has yet thought seriously about the effects of the change on the expat market here and the potential unpopularity amongst long-term visa holders including one year retirement extensions, Elite and the 10 year Long Term Residence. If you are an expat living in Thailand for at least half the year, without any major financial secrets to keep from Thai Revenue, then it’s best to do nothing until the situation is clearer. That’ll take several months yet. But no point in packing your bags in disgust and leaving for Cambodia. They are a CRS country too.
https://www.pattayamail.com/latestnews/ ... oon-447262
By Barry Kenyon
December 7, 2023
Most expats in Thailand live on income or capital, or both, built up over many years with tax already paid in the country of passport. They are understandably worried by the imminent change in Thai Revenue practice – it is not a new law passed by parliament – which will potentially tax new and assessable foreign-sourced income beginning in January 2024. Pattaya Mail has received more concerned reader feedback about this issue than any other during 2023. With inauguration day fast approaching, here is our summary for the typical expat who does not indulge in major currency speculation, huge profit-taking from overseas businesses nor off-shore bank accounts hiding their cash.
Has the Thai Revenue clarified the position of typical expats? No. It is commonly assumed that the Revenue is mainly interested in rich Thais and foreigners who have manipulated Thai tax rules in the past to avoid payments from overseas. Typical expats with home-country pensions or social security allowances are not part of this agenda, though in theory they could be caught in the crossfire. Talks are continuing between senior accountancy firms, lobby groups and the Revenue about this and other issues. Don’t expect answers any time soon.
Will my international cash transfers to Thailand from January 1 2024 be reduced on arrival by a Bank of Thailand tax levy? No. There will not be any changes from current practice. You pay tax in arrears in Thailand by registering at the Revenue for a tax identification number and paying tax due, if any, in the next fiscal year. There is no PAYE procedure in Thailand. The misunderstanding that Thailand will tax international transfers as the cash arrives is a widespread misconception
Should I apply for a tax identification number? Not unless you receive an instruction from a government source or the immigration, both very unlikely scenarios. It is almost certain that, at any rate in the early years, tax registration will be voluntary. If you believe you have been taxed already on your cash sent to Thailand, it’s best to do nothing now. There is no need to employ the services of tax accountants if you are a typical expat (unless working here on a work permit which is a separate subject). The tax situation as regards cash sent to Thailand to purchase property is a separate source of ambiguity.
Most countries with expats here have a double taxation treaty with Thailand, so is that relevant? That depends on the exact wording of complex documents which differ substantially one from another. Double taxation treaties are designed to be used only in cases where Thailand and the first country cannot agree on who has the right to tax. If Thai Revenue were to clarify unambiguously that previously taxed income would not be retaxed, the issue would largely die.
If I need to later, how will I prove that my cash transfers to Thailand have already been taxed? This will vary on an individual basis. An expat’s tax return or the response by the internal revenue service of the first country might suffice, or a simple statement on a tax form might be acceptable. Few experts, if any, believe that the Thai Revenue has the staffing or the expertise to deal with more than 300,000 expats who are tax residents because they spend more than 180 days here in a fiscal year. It bears repeating that the registration process will likely be voluntary. The Thai government is looking for the big fish, Thai or foreign, and not the small fry.
How does Thai Revenue know about your international cash transfers? Most countries in the world, around 120 and including Thailand, are now part of the CRS (Common Reporting System) which requires financial institutions worldwide to fight tax evasion and to protect the integrity of tax systems by sharing your banking transactions with partner countries. This means that your international transfers have been/ are/ will be monitored by Thai financial authorities. Some experts believe that Thai Revenue will use CRS as the route to question rich Thais and foreigners about large international transactions. Amongst the countries not registered for CRS are North Korea and the Vatican.
What is the Thai government really up to? The new post-coup government simply wants to raise cash, in part to help pay for its populist policies such as the 10,000 baht give away scheme. One can assume that nobody in authority has yet thought seriously about the effects of the change on the expat market here and the potential unpopularity amongst long-term visa holders including one year retirement extensions, Elite and the 10 year Long Term Residence. If you are an expat living in Thailand for at least half the year, without any major financial secrets to keep from Thai Revenue, then it’s best to do nothing until the situation is clearer. That’ll take several months yet. But no point in packing your bags in disgust and leaving for Cambodia. They are a CRS country too.
https://www.pattayamail.com/latestnews/ ... oon-447262
-
Gaybutton
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Re: By Barry Kenyon
A new health insurance scheme - and you ain't eligible . . .
____________________________________________________________
New Thai health insurance policy for foreigners in border regions only
By Barry Kenyon
December 13, 2023
Press reports that a new registration scheme will help boost access to healthcare for foreign nationals and the stateless is creating confusion in expat circles. Health minister Cholnan Srikaew is launching a new scheme on January 1 2024 to assist non-Thai people and the stateless to get quicker access to public hospital coverage by a computerized registration which will take five minutes as opposed to the old system requiring weeks or months.
However, a ministry spokesman clarified that the new registration operates only in remote regions, notably the border areas with Myanmar, and is available only to nationals from neighboring countries including those stateless persons without any passport. The civil strife in Myanmar has led to a surge in both legitimate workers and refugees in Thailand’s border areas such as Mae Sot, a border-sharing Thai city. The innovation has nothing to do with foreign expats or tourists. The financial data hub of the ministry will allow hospitals to reimburse quickly the medical fees of those non-Thais who are eligible.
In separate news, the health ministry has ordered an inquiry after a Taiwanese national died after being refused significant assistance following a serious traffic accident on a journey to Bangkok. He was denied treatment, other than an initial cardiopulmonary resuscitation, by hospital staff on the grounds that the medical costs might well not be recoverable. They had suggested to volunteer rescuers that “Mr Chen”, already unconscious, be moved to a public hospital. The inquiry will focus on whether there was a breach of the regulations of the National Institute for Emergency Medicine which has sections on critical emergencies.
Most foreign tourists and expats are not currently required to have comprehensive medical treatment, although the exceptions include some retirees with a longterm (OA) visa issued by a Thai embassy, holders of the new 10-year Long Term Residence and expats with work permits who are separately categorized. Suggestions that Thailand would introduce a 300 baht entry tax on foreign arrivals to cover their medical needs have floundered. The tax still awaits introduction and will be largely used to improve tourist sites and for marketing purposes. A small proportion might be diverted to a compensation fund for foreigners who die in tragic circumstances such as unforeseen accidents.
https://www.pattayamail.com/latestnews/ ... nly-447618
____________________________________________________________
New Thai health insurance policy for foreigners in border regions only
By Barry Kenyon
December 13, 2023
Press reports that a new registration scheme will help boost access to healthcare for foreign nationals and the stateless is creating confusion in expat circles. Health minister Cholnan Srikaew is launching a new scheme on January 1 2024 to assist non-Thai people and the stateless to get quicker access to public hospital coverage by a computerized registration which will take five minutes as opposed to the old system requiring weeks or months.
However, a ministry spokesman clarified that the new registration operates only in remote regions, notably the border areas with Myanmar, and is available only to nationals from neighboring countries including those stateless persons without any passport. The civil strife in Myanmar has led to a surge in both legitimate workers and refugees in Thailand’s border areas such as Mae Sot, a border-sharing Thai city. The innovation has nothing to do with foreign expats or tourists. The financial data hub of the ministry will allow hospitals to reimburse quickly the medical fees of those non-Thais who are eligible.
In separate news, the health ministry has ordered an inquiry after a Taiwanese national died after being refused significant assistance following a serious traffic accident on a journey to Bangkok. He was denied treatment, other than an initial cardiopulmonary resuscitation, by hospital staff on the grounds that the medical costs might well not be recoverable. They had suggested to volunteer rescuers that “Mr Chen”, already unconscious, be moved to a public hospital. The inquiry will focus on whether there was a breach of the regulations of the National Institute for Emergency Medicine which has sections on critical emergencies.
Most foreign tourists and expats are not currently required to have comprehensive medical treatment, although the exceptions include some retirees with a longterm (OA) visa issued by a Thai embassy, holders of the new 10-year Long Term Residence and expats with work permits who are separately categorized. Suggestions that Thailand would introduce a 300 baht entry tax on foreign arrivals to cover their medical needs have floundered. The tax still awaits introduction and will be largely used to improve tourist sites and for marketing purposes. A small proportion might be diverted to a compensation fund for foreigners who die in tragic circumstances such as unforeseen accidents.
https://www.pattayamail.com/latestnews/ ... nly-447618
-
Gaybutton
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Re: By Barry Kenyon
2 Barry Kenyons today . . .
_____________________________________________
Thai income tax worries spark interest in 10 year visa
By Barry Kenyon
December 17, 2023
Concerns about the Thai Revenue’s intention to tax foreign income from January 2024 has created a new market for Thailand’s Long Term Resident visa. That’s because those who obtain the 10 year LTR are exempted from paying personal income tax on foreign assets or earnings. The new rules apply to all native and foreign residents of Thailand who spend six months or more here in a year.
The Board of Investment, which controls the LTR, says about 3,000 such visas were issued since the launch in 2022, but the publicity surrounding the new tax regulation has seen a 14 percent rise in applications. LTR has several categories of application including wealthy pensioners, rich global citizens, businessmen and entrepreneurs. The onetime application fee is 50,000 baht (US$1,400) but it is also necessary to invest substantially in Thailand, or in the case of retirees, to have annual income of at least US$80,000.
LTR regulations are complex. There is compulsory medical insurance to be bought although businessmen are entitled to have a work permit without the usual stipulation of needing to have Thai workers. David Myers, a tax consultant in Bangkok, said, “LTR is beyond the financial reach of most expats, but is proving popular with the rich who want to avoid the usual visa and income tax hurdles when investing abroad in foreign stock markets, bonds or property.”
The new tax regulations are still vague on many details, especially position of foreign income such as pensions already taxed before being sent to Thailand. With only two weeks to go before implementation, most specialists are assuming that registration with the Thai tax authority will be initially voluntary. “The intention is to haul in major tax fiddlers who have benefitted from official laxity in the past and not, I think, typical expats who are retired here or supporting Thai spouses or families.” He added that he expected more details to percolate slowly over the next few months. “There is no hurry as any tax for the year 2024 won’t be due until 2025 in any case.”
https://www.pattayamail.com/latestnews/ ... isa-447910
__________________________________________________
Visa-free Indians are flocking to Thailand including Pattaya
By Barry Kenyon
December 17, 2023
The experiment to cancel visas for Indian nationals is bearing more fruit than the similar relaxation for Chinese citizens. Whereas the Chinese seem concerned by media reports that Thailand is unsafe, Indians are flocking here even though airfare costs can be almost double those of the pre-covid era. Rajesh Magow, founder of MakeMyTrip, said the traveller bonus from Indian visa relaxation was at least 30 percent.
Air India has already announced flights from Delhi to Phuket which will be daily from the new year. Charter flights from several Indian cities, such as Mumbai and Hyderabad, to U-tapao airport, near Pattaya, are also under discussion with IndiGo the low-cost airline. The tourist authority of Thailand expects to see 1.6 million Indian tourists in 2023 with around double that number in 2024.
A limiting factor is that Indian airlines are short of aircraft to deploy on new routes to Thailand. Airlines may be unhappy to add too much capacity lest visa-free travel is not renewed on expiry in May 2024 which could exclude the peak summer holiday period. Moreover, Thailand in 2024 will have to compete with Malaysia, Vietnam, Indonesia and Sri Lanka, all of which have beaches as well as different attractions.
https://www.pattayamail.com/latestnews/ ... aya-447913
_____________________________________________
Thai income tax worries spark interest in 10 year visa
By Barry Kenyon
December 17, 2023
Concerns about the Thai Revenue’s intention to tax foreign income from January 2024 has created a new market for Thailand’s Long Term Resident visa. That’s because those who obtain the 10 year LTR are exempted from paying personal income tax on foreign assets or earnings. The new rules apply to all native and foreign residents of Thailand who spend six months or more here in a year.
The Board of Investment, which controls the LTR, says about 3,000 such visas were issued since the launch in 2022, but the publicity surrounding the new tax regulation has seen a 14 percent rise in applications. LTR has several categories of application including wealthy pensioners, rich global citizens, businessmen and entrepreneurs. The onetime application fee is 50,000 baht (US$1,400) but it is also necessary to invest substantially in Thailand, or in the case of retirees, to have annual income of at least US$80,000.
LTR regulations are complex. There is compulsory medical insurance to be bought although businessmen are entitled to have a work permit without the usual stipulation of needing to have Thai workers. David Myers, a tax consultant in Bangkok, said, “LTR is beyond the financial reach of most expats, but is proving popular with the rich who want to avoid the usual visa and income tax hurdles when investing abroad in foreign stock markets, bonds or property.”
The new tax regulations are still vague on many details, especially position of foreign income such as pensions already taxed before being sent to Thailand. With only two weeks to go before implementation, most specialists are assuming that registration with the Thai tax authority will be initially voluntary. “The intention is to haul in major tax fiddlers who have benefitted from official laxity in the past and not, I think, typical expats who are retired here or supporting Thai spouses or families.” He added that he expected more details to percolate slowly over the next few months. “There is no hurry as any tax for the year 2024 won’t be due until 2025 in any case.”
https://www.pattayamail.com/latestnews/ ... isa-447910
__________________________________________________
Visa-free Indians are flocking to Thailand including Pattaya
By Barry Kenyon
December 17, 2023
The experiment to cancel visas for Indian nationals is bearing more fruit than the similar relaxation for Chinese citizens. Whereas the Chinese seem concerned by media reports that Thailand is unsafe, Indians are flocking here even though airfare costs can be almost double those of the pre-covid era. Rajesh Magow, founder of MakeMyTrip, said the traveller bonus from Indian visa relaxation was at least 30 percent.
Air India has already announced flights from Delhi to Phuket which will be daily from the new year. Charter flights from several Indian cities, such as Mumbai and Hyderabad, to U-tapao airport, near Pattaya, are also under discussion with IndiGo the low-cost airline. The tourist authority of Thailand expects to see 1.6 million Indian tourists in 2023 with around double that number in 2024.
A limiting factor is that Indian airlines are short of aircraft to deploy on new routes to Thailand. Airlines may be unhappy to add too much capacity lest visa-free travel is not renewed on expiry in May 2024 which could exclude the peak summer holiday period. Moreover, Thailand in 2024 will have to compete with Malaysia, Vietnam, Indonesia and Sri Lanka, all of which have beaches as well as different attractions.
https://www.pattayamail.com/latestnews/ ... aya-447913
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Re: By Barry Kenyon
Anyone want to give 25% of your income to the Myanmar junta?
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Myanmar junta demands expats pay income tax on their overseas earnings
By Barry Kenyon
December 18, 2023
The cash-strapped military government of Myanmar is demanding that its overseas workers remit part of their monthly wages, no matter how meager, to a junta-controlled bank prior to returning home or trying to obtain a new passport. Separately, foreigners of all nationalities residing within Myanmar for 183 days a year, or more, are expected to pay income tax on their worldwide income amounting in most cases to 25 percent.
Around 1.5 million Myanmar nationals work legally in Thailand on labor permits, mostly earning minimum monthly wages of 7,500 baht or US$200. They must now remit 2 percent or 150 baht to the junta government. The Myanmar embassy in Bangkok says that the payments should be made there or in approved banks before the workers try to return, lest they risk losing the right to travel abroad for three years and are refused mew passports.
Better paid, white-collar overseas workers must give up 10 percent of their wages, whilst the select few on salaries of US$14,200 a year are to be taxed at 25 percent. They are expected to pay their remittances regularly into Myanmar banks which are controlled by the military. Myanmar embassies in Singapore and South Korea have also made similar announcements. The Global New Light of Myanmar, a junta mouthpiece, has not commented widely on the income tax demands but claimed the sliding scale of remittances from 2 to 25 percent was fair.
As regards foreigners living permanent residents in Myanmar, there are believed to be around 2,000 in the country. They are mostly working for international organizations or businesses and include small numbers of Chinese, American and European expats. The demand that they pay taxes on their income or assets is not new, but is apparently now being enforced more strongly. Most will be subject to a rate of 25 percent payable annually or monthly to Myanmar banks. The government website says nothing about exceptions or double taxation iss
The military government, led by senior general Min Aung Hlaing, is believed to be short of money after an incipient civil war which has already ceded swathes of rural territory and at least 30 towns to insurgent forces. China has recently brokered a deal between the junta and its domestic enemies in the areas close to the Chinese border, but there is no sign that the fighting has eased in other areas. Already over a million Myanmar nationals have been forced to flee the violence and many have ended up on the Thai border, particularly in the city of Mae Sot.
https://www.pattayamail.com/latestnews/ ... ngs-447930
_______________________________________________________________
Myanmar junta demands expats pay income tax on their overseas earnings
By Barry Kenyon
December 18, 2023
The cash-strapped military government of Myanmar is demanding that its overseas workers remit part of their monthly wages, no matter how meager, to a junta-controlled bank prior to returning home or trying to obtain a new passport. Separately, foreigners of all nationalities residing within Myanmar for 183 days a year, or more, are expected to pay income tax on their worldwide income amounting in most cases to 25 percent.
Around 1.5 million Myanmar nationals work legally in Thailand on labor permits, mostly earning minimum monthly wages of 7,500 baht or US$200. They must now remit 2 percent or 150 baht to the junta government. The Myanmar embassy in Bangkok says that the payments should be made there or in approved banks before the workers try to return, lest they risk losing the right to travel abroad for three years and are refused mew passports.
Better paid, white-collar overseas workers must give up 10 percent of their wages, whilst the select few on salaries of US$14,200 a year are to be taxed at 25 percent. They are expected to pay their remittances regularly into Myanmar banks which are controlled by the military. Myanmar embassies in Singapore and South Korea have also made similar announcements. The Global New Light of Myanmar, a junta mouthpiece, has not commented widely on the income tax demands but claimed the sliding scale of remittances from 2 to 25 percent was fair.
As regards foreigners living permanent residents in Myanmar, there are believed to be around 2,000 in the country. They are mostly working for international organizations or businesses and include small numbers of Chinese, American and European expats. The demand that they pay taxes on their income or assets is not new, but is apparently now being enforced more strongly. Most will be subject to a rate of 25 percent payable annually or monthly to Myanmar banks. The government website says nothing about exceptions or double taxation iss
The military government, led by senior general Min Aung Hlaing, is believed to be short of money after an incipient civil war which has already ceded swathes of rural territory and at least 30 towns to insurgent forces. China has recently brokered a deal between the junta and its domestic enemies in the areas close to the Chinese border, but there is no sign that the fighting has eased in other areas. Already over a million Myanmar nationals have been forced to flee the violence and many have ended up on the Thai border, particularly in the city of Mae Sot.
https://www.pattayamail.com/latestnews/ ... ngs-447930