Recent content by Berti

If Thailand turns into this kind of perfect surveillance state with overtaxing, then it‘s time to leave anyway. But as already mentioned, you don‘t stand out here wearing a face mask.

Not sure if this was posted here already: https://www.thaienquirer.com/50755/opinion-thailands-ambitious-plan-to-tax-incoming-funds-risks-falling-flat-due-to-lack-of-clarity/ There seems to be a lot of discussion ahead. Everyone including banks were caught on the wrong foot. Interesting though...

Hard to read this face. Surprised?

Typical Thailand. The new rules start 1.Jan 2024. Clarification will come on 10.Jan. Normally there is a lot of discussion until then, each and every politician will give his superb opinion. But I‘m not so sure this time. It‘s more like a tax coup.

For sure. My feeling is, the Thai PM being a porperty tycoon has some problems with rich foreigners, mainly Chinese, who interfere with his business here.

If I understand this correctly, it‘s not about payments but worldwide income. If they want to enforce this, everyone with a longterm visa would be obligated to file a tax return.

So overnight they decided to have no territorial tax system anymore. And people here say you can’t trust UAE monarchy, until they saw Thai democracy.

Of course

I think there is something wrong with this article. Foreign sourced income is never taxed in Thailand when it is brought to Thailand after 1 year. Even when you are tax resident in Thailand. See point 2.9: https://assets.kpmg.com/content/dam/kpmg/xx/pdf/2023/01/TIES-Thailand.pdf

From what I know it is more expensive and more difficult.

Does LIV have multicurrency or Usd account? And if yes, does the card pull from the USD account or only from AED?

I think it is wrong that freezone persons are not eligible for the revenue threshold of 3 mil AED. It is clearly regulated that only „qualifying“ freezone persons are not eligible.

I agree, but you never know if they will find some creative ways to limit currency supply and still keep the system going. So the banks would limit transfers to own accounts outside HK. I‘m aware the probability is low

I think the main threat could be cutoff from international payment systems and limited US-Dollar and Eur supply. So not passport related. I don‘t see why Singapore should be affected.

We have a HK Ltd. with a bank account at HSBC HK, were we also hold our company assets. What is your opinion about the political risk involved holding all assets with a HK bank, especially regarding a possible Taiwan conflict? I know that HSBC is a British bank, but still we are with the HK...