Where did you read that specifically?Yes, Thailand follows residence based taxation so starting Jan 1, 2024 all Thai tax residents will be taxed on worldwide income remitted in Thailand or not.
Exchanges? Are you all still using exchanges? For what?I will not trust local KYCed exchanges to keep your data safe from the Revenue Department if they require it.
I can only imagine the tax agencies reading this and focusing on their new targetbook flights to Philippines and get SIRV
If I understand this correctly, it‘s not about payments but worldwide income.Anyone knows if it's possible to live in Thailand and never bring any money, just paying everything with a foreign debit or credit card?
What happens if you withdraw money from an ATM, with your foreign debit or credit card?
Correct..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.
I'm so confused here. I'm talking about using e.g. USDt to pay for products & services like here:Problem with P2P is if you interact with dirty money, in Thailand that could be very nasty as a Russian found out recently.
I think of lightning networks and other crypto payments as circumvention to credit card fees and 100% avoidance of banks who can freeze, question, or just steal my money.Best to OTC overseas (dependent on your size), onshore via legitimate exchanges...
But how? If I pay everything with USDt or any other crypto (ANALogous to credit card payments without the "reverse LANA"), who is going to report this?The problem with the new rulings is that a lot of people increasingly use stablecoins as its not easy to retain a bank account in the West as a non resident... these people will now be looking at 35% (dependent) tax on those assets.
If you need a larger amount of money to buy for instance property/a car.Exchanges? Are you all still using exchanges? For what?
I'm sort of "OK" with sending $500 to a crypto address linked to a crypto debit card, and buying groceries or eating at a restaurant because the supermarket or restaurant won't accept crypto directly
Thailand has always imposed tax on worldwide income.
https://en.wikipedia.org/wiki/International_taxation
If they remove the remittance loophole it will become residence based taxation for all.
CRS on the card supplier theres a exchange mechanism there.I'm so confused here. I'm talking about using e.g. USDt to pay for products & services like here:
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I haven't done P2P since localbitcoins started doing KYC.
I have STOPPED thinking about this since I've been following this: GitHub - jlopp/physical-bitcoin-attacks: A list of known attacks against Bitcoin / crypto asset owning entities that occurred in meatspace.
I think of lightning networks and other crypto payments as circumvention to credit card fees and 100% avoidance of banks who can freeze, question, or just steal my money.
But how? If I pay everything with USDt or any other crypto (ANALogous to credit card payments without the "reverse LANA"), who is going to report this?
I feel like I am missing something important. What is it?
Thailand has always imposed tax on worldwide income.
Not for resident foreigners who remitted income in the the subsequent year of when income was earned.
Elite Visa however was sold as tax free in this circumstance
Ahhh..... OK.... In my personal case, I don't want to purchase a home in Thailand or most other jurisdictions, but this is a personal choice. If I indeed wanted to, we could go this route: https://www.thailand-property.com/blog/can-really-buy-thailand-property-using-cryptocurrencyIf you need a larger amount of money to buy for instance property/a car.
Agreed!I agree that a crypto card will do the trick for daily living expenses, however as a Thai (only) resident you will mostly need to fake a EU/US residency to get one of these cards.
That's it! We're dealing with some very disingenuous amoral people! Can't trust them with anything! Not even their weather channel.Note the f*****s have removed their wayback archive : https://web.archive.org/web/20230000000000*/https://www.thailandprivilege.co.th
Some agents still list it : Top 4 Benefits Retirees Can Enjoy With Thailand Elite Visa Program
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