yeh pretty much that. the qr is then displayed on the terminal or printed out the receipt.
Other countries have the same ux with that.
Other countries have the same ux with that.
Thailand 0% tax
- Thread starter yngmind
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HKT...
Route your transactions via UnionPay... strong national support for...
Banking in Thailand is above the US/West in general from what︁ i've seen, been times where withdrawn from an ATM just using the application... could never︂ do that in Europe when i was last there.
Yeah the 10k free CBDC ->︃ entrap the masses (poors) into the digital world so they can confiscate the wealth of︄ the wealthy or debase over the next 25 yrs.
Use QR all the time, then shamefully recognise i should︇ use Cash instead.
Route your transactions via UnionPay... strong national support for...
Banking in Thailand is above the US/West in general from what︁ i've seen, been times where withdrawn from an ATM just using the application... could never︂ do that in Europe when i was last there.
Yeah the 10k free CBDC ->︃ entrap the masses (poors) into the digital world so they can confiscate the wealth of︄ the wealthy or debase over the next 25 yrs.
Use QR all the time, then shamefully recognise i should︇ use Cash instead.
Gov(s) like QR payments because it enables them to bypass a lot of restrictions on information gathering as the QR includes the information in it whereas before they'd have to enquire via the banks to release information.
Any tips for this? Besides banking in HK.
The best innovation is indeed as you say this cardless cash withdrawal function. I dont think banking there is that great otherwise tbh.
If they leave one alone with this compliance bs and dont expropriate falangs, than yeah Im more than willing︀ to give extra points.
Yeah. Sounds like thats in the︃ making.
its a highly cumbersome ux and takes quite some time to︅ execute.
a card on apple pay is way above in easiness than fiddling around with︆ these apps.
Indeed, they copy the eu, but this︉ will take so long in asean which is even more diverse than eu.
I doubt︊ i will outlive this. 😉
The best innovation is indeed as you say this cardless cash withdrawal function. I dont think banking there is that great otherwise tbh.
If they leave one alone with this compliance bs and dont expropriate falangs, than yeah Im more than willing︀ to give extra points.
Yeah. Sounds like thats in the︃ making.
its a highly cumbersome ux and takes quite some time to︅ execute.
a card on apple pay is way above in easiness than fiddling around with︆ these apps.
Indeed, they copy the eu, but this︉ will take so long in asean which is even more diverse than eu.
I doubt︊ i will outlive this. 😉
Crypto Related ? -> Advcash which is Union Card (currently non-working) which is a white-lable card issued by a US card processor to NiBank.com and then issued under Advcah branding.
Non-Crypto Related? -> Nibank.com, Bank of China, Various Malaysian/Singapore Banks.
In all the years i've dealt with the Thai banking system, I've never experienced issues.
Having said that, today there's so many digital scams︀ and even automated reporting is occurring.
Unfortunately a lot of people are needlessly caught up︁ in that, and the criminals are outside of it, for example i know of a︂ house not far away up the road, that is worth about 200mb and has stunning︃ sea-views, inside said house is a room, it's full to the brim with cash.
The cash comes from tours from China where the plebs are given a stack of cash︄ up to the 10k limit, and then when they arrive (their trip is paid for)︅ they hand over the cash (tours) the funds are then converted in to THB (or︆ SGD, etc wherever these operations exist) and slowly invested into the local economies... capital control(s)︇ violations, laundering etc.
However like a well oiled machines... compared to the days where money︈ used to be airdropped over the border(s) lol.
Likewise as mentioned today/yesterday here or elsewhere︉ on the forum, there are indians trying to offload this said cash (working in conjunction︊ with the Chinese) who got spooked in the Anti-Chinese-Grey-Market-Money-Influx to move these funds from Cash︋ into USDT and move it elsewhere.
However they go un-noticed and are on-going, meanwhile the︌ chap that has a small business overseas or transfers a small amount of money is︍ now processed by AMOL and reporting/SARS.
etc.
Never used apple pay so can't comment (think its more an American thing). Would keep phone IMEI separate from finances etc...
But will say never had issues with the QR... sometimes slow... otherwise convenient - too convenient.
I got a TIN 10 yrs ago... just give that if asked for anything offshore as its reported but not taxed.
UK equivalent (NI number) is irrelevant because UK Citizens do not pay tax when living overseas and have low or zero touchpoints with the UK and no income from︀ or via the UK.
Also don't touch pounds as my financial advisor years ago suggested︁ such.
**NOTE TRC**
I'd imagine it was hard to achieve this previously unless you had︂ a TIN and paid some tax....
In future you likely will have a TIN and︃ pay some tax... therefore should easily get this in the future 2024 onwards.
What will︄ be interesting is if you can add income/dividends overseas on the form (as un-taxable) but︅ 'get them into the system' so later you have a clean clear bill of source︆ of wealth and tax history for said funds.
This is the current issue with HK︇ PR people that can't show how/when they earned said funds except bank statements because 0%︈ tax income is tax free and non-reportable.
Same applies to those previously earning money in︉ Dubai (not sure about now) or other tax havens (an area i had contention).
Non-Crypto Related? -> Nibank.com, Bank of China, Various Malaysian/Singapore Banks.
In all the years i've dealt with the Thai banking system, I've never experienced issues.
Having said that, today there's so many digital scams︀ and even automated reporting is occurring.
Unfortunately a lot of people are needlessly caught up︁ in that, and the criminals are outside of it, for example i know of a︂ house not far away up the road, that is worth about 200mb and has stunning︃ sea-views, inside said house is a room, it's full to the brim with cash.
The cash comes from tours from China where the plebs are given a stack of cash︄ up to the 10k limit, and then when they arrive (their trip is paid for)︅ they hand over the cash (tours) the funds are then converted in to THB (or︆ SGD, etc wherever these operations exist) and slowly invested into the local economies... capital control(s)︇ violations, laundering etc.
However like a well oiled machines... compared to the days where money︈ used to be airdropped over the border(s) lol.
Likewise as mentioned today/yesterday here or elsewhere︉ on the forum, there are indians trying to offload this said cash (working in conjunction︊ with the Chinese) who got spooked in the Anti-Chinese-Grey-Market-Money-Influx to move these funds from Cash︋ into USDT and move it elsewhere.
However they go un-noticed and are on-going, meanwhile the︌ chap that has a small business overseas or transfers a small amount of money is︍ now processed by AMOL and reporting/SARS.
etc.
Never used apple pay so can't comment (think its more an American thing). Would keep phone IMEI separate from finances etc...
But will say never had issues with the QR... sometimes slow... otherwise convenient - too convenient.
I got a TIN 10 yrs ago... just give that if asked for anything offshore as its reported but not taxed.
UK equivalent (NI number) is irrelevant because UK Citizens do not pay tax when living overseas and have low or zero touchpoints with the UK and no income from︀ or via the UK.
Also don't touch pounds as my financial advisor years ago suggested︁ such.
**NOTE TRC**
I'd imagine it was hard to achieve this previously unless you had︂ a TIN and paid some tax....
In future you likely will have a TIN and︃ pay some tax... therefore should easily get this in the future 2024 onwards.
What will︄ be interesting is if you can add income/dividends overseas on the form (as un-taxable) but︅ 'get them into the system' so later you have a clean clear bill of source︆ of wealth and tax history for said funds.
This is the current issue with HK︇ PR people that can't show how/when they earned said funds except bank statements because 0%︈ tax income is tax free and non-reportable.
Same applies to those previously earning money in︉ Dubai (not sure about now) or other tax havens (an area i had contention).
Yeah, it's sad︄ that you can't provide proof of funds if you lived in the tax heaven, in︅ Dubai it's still 0% personal tax.
In that case, I would provide some statements from︆ a home country if I paid any taxes there, buy and sell real estate can︇ also be a good options for source of funds, invest in stock market or just︈ provide tax returns for your company, could work.
For TRC I think I would open︉ a Thai brokerage account with some small amount let's say 10k and pay taxes from︊ income
Hey, I just had a call with my lawyer and what he told me is that if︀ you paid for any services with your foreign card or bank account considered a remittance,︁ that's how it works everywhere in the world.
That's how non Dom regime works in︂ the UK for example.
In that case, I would provide some statements from︆ a home country if I paid any taxes there, buy and sell real estate can︇ also be a good options for source of funds, invest in stock market or just︈ provide tax returns for your company, could work.
For TRC I think I would open︉ a Thai brokerage account with some small amount let's say 10k and pay taxes from︊ income
Hey, I just had a call with my lawyer and what he told me is that if︀ you paid for any services with your foreign card or bank account considered a remittance,︁ that's how it works everywhere in the world.
That's how non Dom regime works in︂ the UK for example.
you dont need to do anything︀ then, its being auto deducted at 10% and no need for filing anything. But you︁ can file for this, get the tax credit back and settle the difference.
good stuff right here.
good stuff right here.
I think this was already mentioned before, but just in case, here's an update from 20th November:
https://vialtopartners.com/regional...axation-of-offshore-source-income-in-thailand
https://vialtopartners.com/regional...axation-of-offshore-source-income-in-thailand
So basically if you have already a good amount of money earned through bank statements in the previous years before 2024 you can remit tax free?
Imagine I earned 1 000 000 in the X years before 01 Jan 24. As long I do not remit more than 1 000 000 you can remit them tax free whilst Resident?
Everything remitted above that is taxable?
Imagine I earned 1 000 000 in the X years before 01 Jan 24. As long I do not remit more than 1 000 000 you can remit them tax free whilst Resident?
Everything remitted above that is taxable?
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