Thailand tax situation

[drpreobrazhensky]

In fact, all legal crypto exchanges and money changers keep track record of IDs (online KYC docs or photocopy of ID card/passport).
The only real potential issue in Thailand remains the same: audits and law enforcement. For now, it's close to none.

The owner of this particular exchange specifically told me that there's no record keeping of any kind.

They seem to deal mostly with Russians, maybe that's a factor.

Not paying 55% tax is also stone age in the most developed countries of the world. Beware of certain advances and what you wish for...

I hear you.

But you won't stop progress and you probably won't become an Amish.

I'm a big fan of Bitcoin Cash for that reason, it just lacks widespread adoption but seems to have a decent head start as decentralized, p2p cash.

The more draconian all the govs become the more it will push people into parallel economies, anonym crypto payments / gold, etc.

 

[scooterguy]

I hear you.

But you won't stop progress and you probably won't become an Amish.

I'm a big fan of Bitcoin Cash for that reason, it just lacks widespread adoption but seems to have a decent head start as decentralized, p2p cash.

The more draconian all the govs become the more it will push people into parallel economies, anonym crypto payments / gold, etc.

I agree.

 

[MagicMatt]

I was on a flight in December with Ursula von de Leyen..

It was clear from my couple of hours chatting with her (Dubai to Brussels) that the EU is a basket case.

Move your money to the Caribbean where privacy laws still protect clients.

 

[JackAlabama]

I was on a flight in December with Ursula von de Leyen..

It was clear from my couple of hours chatting with her (Dubai to Brussels) that the EU is a basket case.

Move your money to the Caribbean where privacy laws still protect clients.

what has ursula done in Dubai?

 

[MagicMatt]

She was returning from that COP24 thing.

 

[wellington]

It’s not enough moving your funds - you need to move yourself and you need to obtain citizenship from an irrelevant country that has half decent taxes or no taxes and has a young demographic makeup.

 

[JackieTsan]

As it stands you can still own a offshore company and the company isn’t brought onshore into Thailand unless it
Does business in Thailand for tax purposes.

Reference remittance tax as income this is true unless you can provide evidence this money was earned before 2023-2024 and then you are grandfathered in if currently resident.

What about PE? I met one of the tax experts and they insisted that PE is active if you manage (or you own) an offshore and you’re base in Thailand (even if you you have a director there and get profits/dividends always offshore, nothing never ever remitted in t Thailand (I.e. from an0% offshore move your income to Europe). He insisted it’s PE and he advised to use a company in Thailand which will be paid for using me doing the job (so Thai company will invoice the 0%). I believe they will. Create more problems than make it properly. So my decision is that moving to an other country is the best option

As it stands you can still own a offshore company and the company isn’t brought onshore into Thailand unless it
Does business in Thailand for tax purposes.

Reference remittance tax as income this is true unless you can provide evidence this money was earned before 2023-2024 and then you are grandfathered in if currently resident.

What about PE? I met one of the tax experts and they insisted that PE is active if you manage (or you own) an offshore and you’re base in Thailand (even if you get profits/dividends always offshore, nothing never ever remitted in t Thailand (I.e. from an0% offshore move your income to Europe). He insisted it’s PE and he advised to use a company in Thailand which will be paid for using me doing the job (so Thai company will invoice the 0%). I believe they will. Create more problems than make it properly. So my decision is that moving to another country is the best and safest option. Am I correct?

 

[JackAlabama]

What about PE? I met one of the tax experts and they insisted that PE is active if you manage (or you own) an offshore and you’re base in Thailand (even if you you have a director there and get profits/dividends always offshore, nothing never ever remitted in t Thailand (I.e. from an0% offshore move your income to Europe). He insisted it’s PE and he advised to use a company in Thailand which will be paid for using me doing the job (so Thai company will invoice the 0%). I believe they will. Create more problems than make it properly. So my decision is that moving to an other country is the best option


What about PE? I met one of the tax experts and they insisted that PE is active if you manage (or you own) an offshore and you’re base in Thailand (even if you get profits/dividends always offshore, nothing never ever remitted in t Thailand (I.e. from an0% offshore move your income to Europe). He insisted it’s PE and he advised to use a company in Thailand which will be paid for using me doing the job (so Thai company will invoice the 0%). I believe they will. Create more problems than make it properly. So my decision is that moving to another country is the best and safest option. Am I correct?

which country are you going to?

 

[JackieTsan]

which country are you going to?

Hi Jack I’m talking about Thailand here, is this valid?
Plan to go to Georgia or Cyprus (but still unclear about the 2.87% for GESY which is the mandatory tax in every worldwide income dividends). Also still researching about possible PE considerations there

 

[JackieTsan]

Yes, in theory it is a permanent establishment. But that's not something new. It was already like that before.

But what actually? According to what @wellington gave as feedback from the revenue dept it’s not PE. According to a tax expert I’m discussing with last days, it is. What is the right?

 

[JackAlabama]

Hi Jack I’m talking about Thailand here, is this valid?
Plan to go to Georgia or Cyprus (but still unclear about the 2.87% for GESY which is the mandatory tax in every worldwide income dividends). Also still researching about possible PE considerations there

idk about georgia or so, but you can solve it by adding substance to your company or pick 2 places where you spend 170 days each and the rest is a holiday.
One of these two options will make it better.