🍄 MUSHROOMS: Discounted Fruiting Body Mushroom Supplements - Thailand & Worldwide Shipping: bit.ly/3Vu8Hp3 Please Note: Some suggested that it’s best not to disclose or pay tax in Thailand but I will say that taxes are not high in Thailand like the west and it is peace of mind to be 100% legal. I also owe Thailand for everything I have and have always paid tax including working in corporate. Also paying your correct taxes gives many benefits towards long term stay. This is not advice but sharing what I do because I’m often asked.
Am a retired welder, and sorry to say, that's bloody atrocious, hardly been welded at all.. Most likely because whoever did it wore a pair of plastic sunglasses instead of a headshield. So may aswell have been done by a blind man. And as for the somewhat peculiar thai tax system., Back when i had a bar, was given permission by the chinese/thai lease owner to put in another toilet, an improvement in order to gain a separate ladies & gents. All went to plan & 50,000 bht later the job was a goodun! Then came a call from the owners lawyer explaining, I had to pay another 15000 bht 'Betterment Tax' That was it for me., Sold business, back to blighty, & back to welding.
I thought I should share my own experience when it comes to Thai taxes, so maybe some foreigners would stop worrying so much about the future. First, I am Thai, and have paid my taxes for 18 years here. But more interesting (I hope), I also filed taxes for my late Norwegian husband, for over a decade. He willingly paid taxes to Thailand because he saved money doing so. Norway have a double tax agreement with Thailand, like I guess all of you who read this, have (I suggest everyone reads what yours exactly states). But Norwegian laws is a little different, the law states that you must pay taxes in the country you live more than half the year in. Anyways, after deductions, he ended up paying between 6 to 9% taxes here in Thailand (his income and deductions varied a little). In Norway he would have to pay between 15-18% of this amount he brought in to Thailand. In the first year, he paid taxes to both countries (before he was registered emigrated from Norway). But the DTA made sure that he was reimbursed all paid taxes from Norway the same year as he filed in Thailand. The DTA worked, no one will have to pay double tax (without being reimbursed). Even if you technically do that the first year, since taxes might automatically been withdrawn in your home country in the switching process. The following years, he would only have to file taxes in one country, Thailand, and as mentioned, he saved a lot doing that. I hope this clarifies a little for some out there. Depending on your own situation and the country you are from, you might actually be better off being taxed in Thailand 😊😊
@@John-G You`re probably right. Some expatriates choose anyway to not officially emigrate, and instead use a home address with a relative or such (and breaking their own law..). It might be more correct to say that Americans are the different ones here, but it seems most of the tax videos from Thailand have a lot of Americans in the comment sections. Maybe not Ryan`s videos though, they probably have mostly Brits, which have similar laws as Norwegians, I believe. Except that you DO get yearly inflation (or other) increases to your state pension from Norway, living in Thailand 😊
@John-G Right 👍 How about if you stay less than 180 days in Thailand (to avoid Thai taxes), and the rest of the year you frequent between two other neighboring countries, let's say Malaysia and Indonesia, that will still make you a UK tax resident, right? Even if you are not spending one day in the UK, maybe for many years? It's an interesting topic these days.
@@John-G But the US does have tax treaties with most countries so that if you pay tax to another country that is basically not double taxed (it is a little more complicated than that basic sentence sounds and a lot of paperwork).
We are a couple both have Norwegian citizenship and my wife (for over 40 years) also have Thai citizenship. We have come to the understanding likewise as mention by sarina1 that it taxwise beneficial for us retired as we both are to pay tax to Thailand.
You are doing something right if you are turning a profit in your first year. Very informative vlog backed up by references makes you a rarity among expat UA-camrs. Cheers.
I too live in Isaan, not far from you. While i don't have a registered business here the tax situation for many in my position is very unclear. Farang bring a huge amount of money into thailand already and many businesses would fall over if not for us. for one example, the four big shopping complexes on Samui, where I used to live, would be gone if it wasn't for their foreign resident clients. Not such a big problem in the less tourist sensitive areas of course. I do love Thailand, but if they seriously try and tax retiremennt income from abroad, they will ultimately lose more than they gain
I have paid tax for 10 years now in Thailand on my pension due to the double tax agreement with Thailand. Never had a problem, Revenue Department is always helpful and I pay A LOT less here than back home. I get a lot of deductions because I am disabled and have a big family here. But everyone have to do their research as every situation will be different. It can in most cases be done online now, all forms and information is in English. I use Korat Tax Revenue Department because I like to be there in person.
Great video, Ryan, and I am pleased to see you are looking better. I much appreciate that you emphasise that you are not giving legal advice, only passing on your own experiences. I also watch Integrity Legal Thailand and admire his passion for Thailand and doing things the right way. 🙏
Veryvhelpful vlog so thanks. The tax issue is beyond maddening. A lot of us are looking at the easy out; making sure we're out of the country 6 months a year.
Something I didn't realise until recently was that anything tax exempt in your citizen country is up for grabs in your host country, even with a double taxation treaty. In March my income will increase because I start getting a small company pension from UK. I will still be below the income tax threshold in UK but here in Croatia the personal allowance is much lower, so I will have to start paying tax. I was offered the option of taking part of the pension as a tax free lump sum but again, only tax free in UK. If I take it I will be taxed on it in Croatia.
I paid full tax for all the years I worked here (30). I have obviously a Tax ID number .I worry now about bringing monies into Thailand. Inheritance monies and invested savings. I completed the forms sent by my Thai Bank in December. It seems they wanted to Identify Americans living here as a 'priority' as the forms were almost copies of US Revenue Dept. Forms. I wait in hope! As I would only be spending money here and providing for my kids later in life-I'd hate to pay Tax again on money I've already paid Tax on! Ugh! Not nice!
Inheritance is exempt from taxation provided you can prove it's inheritance. A letter from your lawyer stipulating such, with a copy of the Will and death certificate should do the job.
America has a very aggressive tax system. It is one of only two countries in the world that require you to report income from anywhere you earn it. They also require you to disclose assets anywhere in the world, which is probably why you saw all those forms from the bank.
@@jenniferwithey6443 say it all about the USA and now that fat lying felon goose in charge who will destroy the dumb that’s why all,out families sold up and left the rat hole
I ran a company in Cambodia. The paper work was crazy. Like anywhere really unless you're try to fly unnder the radar. Do you have to submit monthly returns as well? Best advice I can give is to read and understand the local tax laws yourself. Not all accountants are created equal. Beware of the phrase "no problem", anywhere.
I asked a local lawyer in Chiang Mai to refer me to a tax specific tax agent, he had one in mind but said she would have no idea what to do for crypto taxes. The search goes on
You buy an investment house 1 million, u not sell you not pay tax, you sell 2 million you pay tax on 1 million (added to whatever income you had that year) minus costs to own property. You buy crypto1 million, u not sell you not pay tax, you sell 2 million you pay tax on 1 million (added to whatever income you had that year) minus costs to own the crypto. If a tax agent doesn't understand this then they ain't really a tax agent.
What is the cost and time of setting up a business in Thailand? Also, about the initial capital for the business is too high, is there a work around or you have to deposit that amount in bank?
Agree completely with doing everything strictly above board. Smart decision. No one likes paying taxes. But it is never worth the risk to screw around with anything government-related, especially taxes, when the potential penalties typically far outweigh the benefits. In the US, special agents of the Internal Revenue Service (IRS) carry badges & guns. Needless to say, it is not too smart to mess with any government agency that has guys who carry badges & guns. And, it was the IRS which famously took down gangster Al Capone, when all other authorities failed to do so, by getting him convicted of tax evasion and thrown in prison for more than 7 years. Just a little something for folks to keep in mind, when considering too much creativity in filing & paying taxes. :)
Importance of Family Support as for provide a positive and peacefull environment to your child! Building a strong support system for yourself and your family. Encouraging open communication and understanding within the family unit. Working together as a team to advocate for your child's needs. This is better to declare the tax situations by your own including with Damo ides is the best way to solve the information that you had info about it few minutes ago.
little bit complicated but most stocks are held in an ISA which is tax free and based in the UK Crypto is also on a UK exchange which is not subject to tax if you are a non resident - however if you bring it to thailand it could be subject to tax, unless say it was a gift. This is my understanding. Not fact.
@@thenakedguru That's interesting, I trade futures markets in the USA, so I am wondering about my situation here when I order money from my trading account! I am also wondering about an account in Singapore and using a multi national gold card to access money?
Good video - clear and simple. I bring into Thailand my Pension which is not assessable income under the Aust-Thai DTA, plus a little of my savings, but the total amount less our deductions (joint income return) is under the amount I would pay taxes on. In addition I gift tax-free direct to my Thai wife's bank account additional monies she needs needed (buy house, car, medicals, etc etc). Things may change if Thailand implements a global based income tax system, not just on income monies earned in Thailand and overseas (whether brought into the country or not). Until then all is fine - and my savings and pension will be covered under the DTA anyway (I hope).
As a UK domiciled, qualified Chartered Accountant, living in both the UK and Thailand., consider your company which pays you 50k bht a month to pay a salary to your spouse such that she incurs a lower marginal income tax rate!
Hi, Ryan! Maybe you should take a look at the tax brackets again, from 300k to 500k is 10%, and from 500k to 750k is 15%. Your last 100k (you wrote 300k-600k at 10%) would fall into the 15% bracket. Just nitpicking from me (sorry..), thanks for this video 😊
As a former Naval trained metalworker and retired metal fabrication business owner of twenty five years, the welding is good enough as a temporary fix for Thailand. Life is better without over-regulation and endless certification.
For me, my main concern is bringing in a large sum ( say 5 to 6 mil. baht) to buy or build a home. How to do that without paying taxes using money from either (1) savings/investments that have already been taxed, or (2) money from the sale of my house in Canada which is tax free for capital gains.
You need professional advice. However as a last resort my understanding is that you could ensure you spend less than 180 days total in Thailand during calendar year 2025, so you are not tax resident in Thailand for this year, and meanwhile transfer the money from Canada or wherever into Thailand, then go back to living full time in Thailand from 1 Jan 2026. But seek professional advice.
This is only my idea. Since you are not taxed on money that was in savings before 01/01/2024. Get a bank statement from that date. Open another saving account and move any extra you may have put it since to that account. Take the money for the house from the old account and keep a paper trail.
It appears that savings accumulated prior to Jan2024 is not subject to Thai tax when remitted. Income from investments (like the sale of your house) will be subject to taxation after Jan2024 if remitted. How you establish which funds are which is unclear so a Thai tax advisor should be consulted at least initially if you are deemed a tax resident. A vexing issue for sure. Personally, I would never buy any property in Thailand let alone build one but to each his own.
firstly I wouldnt sell my house in Canada as its only going up in price, better than money in the bank, and second I would not waste 6m baht on a house in thailand..Even if you left it to the wife within a couple of years it will be a wreck due to her not having the income to maintain it..spend 3m and save the other 3mil, and if you should need to head back to Canada, you have your house there..dont burn all your bridges
Dang man! It's now "Dr Guru". Good for the chicken. Granted, a small victory and which really didn't make much of a difference for the world but it most definitely made a difference for the chicken and I bet the family.
Do an experiment Rice husk doesn't decompose even after 3 years in the soil It contains high percentage of silica It is useless in farming in my opinion
Rice husk is commonly used in Thailand for starting seeds due to its abundance, affordability, and agricultural benefits. Farmers often mix rice husk, either raw or charred, with soil or compost to create a light, well-aerated medium ideal for seed germination. The husks improve water retention, ensuring seeds remain moist while also enhancing drainage to prevent waterlogging. As the husks decompose, they release silica and potassium, enriching the soil with essential nutrients. This sustainable practice aligns with Thailand’s status as a major rice producer, providing an eco-friendly and cost-effective solution for farming.
We bought a couple of bags of local compost in Nakhon Nayok, very different quality to UK compost, light and black like a charcoal. Let’s see the results in a couple of weeks 🌱
I think you'll find you will be liable to tax on your crypto and investments in the UK when you withdraw from the ISA. Best thing to do before you make more profit would be to move it offshore and cut ties with the UK. What I do in Thailand is use an EoR here to get a work permit and pay taxes here on all money I bring into Thailand. It is a bit costly in terms of the EoR fees but makes the most sense in my position as you do need a tax base. The EoR handle all the paperwork and I effectively pay the tax before I recieve my wages, like PAYE in the UK
Regarding declaring income from UA-cam, I’ve always wondered about that. There are so many retirees with UA-cam channels who receive income. Whether they should be paying tax or not is unclear, but is there the potential that Thai authorities might consider this to be work, in which case, without a work permit, they’re in breach of the conditions of their retirement visa?
They are obviously breaching the law, but so are many other retirees who still conduct occasional business by phone, in person meetings to discuss deals and so one. If they ever go after retirees who do UA-cam it will end up just pissing people off. These youtubers, for better, or worse attract people to the country.
@ It feels like most of the UA-camrs in Thailand are in Pattaya and I suspect the people who visit Pattaya will go there whether or not it’s ‘promoted’ on UA-cam. Beyond that, there were 35 million tourists to Thailand last year and I’d suggests tiny minority were attracted there because of UA-cam. The government are making a concerted effort to attract wealthy tourists and promote family friendly attractions, so I suspect they won’t care about some guys looking to enjoy bars and women, deciding to go somewhere else. Ironically, for many of the Pattaya/Patong visitors, the UA-camrs in the entertainment areas are often as unpopular with them as they are with the women working in those areas, as most of the people there want to go about their business in some sort of anonymity. Equally, the government have brought expats’ income into the spotlight as far as potential tax liability is concerned. Whether expats ultimately need to pay tax or not will depend on individual circumstances, but clearly the government don’t mind the risk of upsetting foreigners.
I am not a tax expert , in fact rather a nerd on the subject. However, my home bank closed my accounts and ATM cards yesterday, because I missed an email from them some weeks ago re Updating my Tax residency status...I have $5.50 to my name and are 70yrs old and in a foreign country with no airfare home, but she'll be right.The ghist of my story is I am always confused when asked ' where are you a resident of '..Thailand is 180 days, my own country is 45 days, and I qualify for both, but this confuses the govt departments and banks, as all are in cahoots with each other..Immigration have me down on a retirement visa to Thailand, Customs have me moving between three countries every year, and the bank has me down as a resident of home..My theory was that my income is generated in my home country,, and goes to my home country bank and I live off an ATM card, so therefore my home country bank can tax me as they do..My cards came back on line within 30hrs..every time I travel I have these problems..The bank even said they had seen I had travelled
Well said. When you start to understand the complexities of what the Thai government created with this remittance based tax system, you understand how deeply deeply flawed it is. Terrible policies that you can drive a truck through, but just as easily a tax official in the government could determine you owe a lot of taxes. Terrible situation. The domestic taxes seem very straightforward, but for expats 🤮
Thanks. So, as a newbie, can anyone from the UK tell me clearly what taxes are payable on pension income and how these taxes are levied: For example how can the Thai authorities know when UK funds are accessed in Thailand through, eg., an ATM.. Second, would these putative taxes on pension wealth contribute towards eligibility for Thai citizenship..? I'm still bamboozled..
I’ve been watching your videos as of late. I have a chronic illness and my wife is divorcing me. What I need medically is mostly medications. Is it true that I can get meds in Thailand without a prescription? Can you direct me to someone/somewhere that I can find out more about this topic? Thanks.
You can get anything Sometimes it takes contacting many pharmacies and distributors but you can buy 95% of meds direct and have them posted to your door 👍
I take a lot of medication so mid 2000s when I lived in Thailand for a few years I brought all my medication ( well mainly just the empty boxes) to Thailand and went to several pharmacies who checked availability and quoted on them. Surprisingly it was a small private pharmacy who came up with the best deal and I used them for the 3 years I was there.
The easiest and cheapest way I found to get my meds is by going to the government hospital and getting 3 or 6 months which they give easy. They are cheaper than the high street pharmacy and way cheaper than private hospitals who get 35% of their revenue from medicine sales. Vachira government hospital in Phuket and general government general hospitals in Hua Hin, Chiang Mai, Udon Thani, Khon Kaen all have Foreigner/VIP offices (The following will take you to a YT Vid showing the one in Udon Thani - Hospitals & Info ISAAN FARANG). I use the one in Udon Thani. The Foreigner/VIP service costs me 810 THB and it’s 240 THB to see the Doctor but it’s still cheaper than the high street. I had heart stents put in so I take tablets for stopping blood clots, blood thinners, blood pressure and for my diabetes 2. All in with the Foreign Office service charge, doctor fee and 3 months supply of meds my bill comes out about 6,000 THB.
Would not touch any of that money making garbage . Eat healthy I am 83 and still working part time . Don't drink smoke or any bad habits and you will be ok .. Don't listen to shonks ..
I'm wondering if it would be a cost saving only transferring minimal amounts then travelling home once a year and bringing back a pocket full of cash? Food for thought i suppose
I'm pretty sure they cannot police/monitor atm withdrawals or even credit card purchases, there's a law about carrying large sums of cash in and out of countries 🙈. So if and when this new law does come in, transfer 300k through your bank, pay them the 7500bt to keep em sweet, then live off credit cards and ATM withdrawals
❤ Hi guy's. Do you give your animals honey for antibiotics when they're a bit off. My cats, poultry and any animals get 3 little doses a day, if they aren't feeling the best. Saved many vet bills. Cats lick it off their front paw. Can water it down to use in an eyedropper to quirt at side of mouth or beak. Aussie farmers also put it on cows ears for antibiotics through the skin. Fly bites etc. xo❤
Whats is the expression: Death and taxes are a certainty in life. Most countries are strict with tax. Thus i will be going to the tax office, get a TIN and fill in a tax return. My tax affairs are simple, fall into double taxation regime, and should be fairly simple to fill in the return.
Before you file a tax return, I would suggest you seek professional advice. You may not need to file at all. Could be a headache of you didn’t need to file, but did anyway, and later had to go through an unnecessary audit.
I used to have an Ebay business when I lived in Bangkok, but all money was paid into my Paypal Account and, from there, into my UK bank. At the time, there was no problem bringing money into Thailand, so there was no reason to register the income. Out here in the sticks, I don't know of anyone paying income tax.
Really? I get an income from 3 different countries in total about $102,500, (pensions, investments and savings interest) , as at today after paying tax in 3 countries. One of those countries taxes me at 5%. Thailand wants another 30% on that. Why should I pay tax to a county that give me nothing in return for the tax it takes?
@@jeh1333 because you are in that country for more than 180 days meaning you are benefiting from their infrastructure and everything else. It is only fair you contribute. If you don't want to, don't spend so much time there. Simple really. And you only pay on what is brought into Thailand
@@nickwhite4010 he is contributing to the infrastructure cost by consuming in Thailand. This is what the infrastructure was built for. Ultimately consumption becomes a 100% tax.
@@jeh1333 Isn't it great to retire and then spend a lot of your time managing your investment portfolio. That's work too, it's hardly recreational. Retired but not dead is the way successful retirees live.
Zero tax would be better. In the US, a family of four would actually receive a refund from the government. I find the tax brackets in Thailand way way too low. They should starting taxing income at a much higher level of income,especially for a family.
@@Mark-yo5ue AND. Your point is? Now go and Live a quality of life in the west compared to Thailand, sorry, wait what, you cant??!! Family of four with tax refund living in a tent behind Cosco, rummaging in the BINS.Trying to pay off CC's / Student Loans, and Health schemes. Now check out Thai National Debt vs US state debt , right DOH, end of. Meaning all the pieces of paper shuffling around are leading to an ineffective economy in USA 120% of GDP vs. Thailand 62% of GDP, basically TAX collected or not applied or not. Yeah, .....
Maybe this year, next year dobble and so on. Taxes are going in one direction only. If politicans see they come through with this, the tighten the screws next year.
You’re the man to ask then. What do reckon to the 2 pack epoxy cold weld stuff especially on thin metal and simple stuff like his trike were you just want to stick 2 pieces of metal together as you can buy plenty of that here.
@@John-G Why it’s not like your welding a pressure pipe, stick welding is not the best method for joining thin tubing which was probably done by TIG or MIG welding in the factory. There are plenty of 2 pack cold weld products designed for joining metals available in DIY’s stores here in Thailand.
@@IsaanMan I have Zero idea about the 2 pack epoxy that your speaking of. If you’re in Thailand you’ll always find someone that can just do very quick stuff like this. I wouldn’t say it’s the best welding in the slightest but the steel is so thin anyway. By all means try the epoxy stuff and let me know how you get on 👌🏼😅
@@John-G you have seen what he’s welding together right??? It’s not a Rolex 😅 this is rural Thailand and I’m certain it will be welded again in the future regardless.
Hey Ryan, is there a shroom that could help with sleep? I’m getting on average 4 hours a night, and I’m very active with work during the day. I’m bloody knackered 😂
I bought some of these mushroom supplements from your shop and to be honest I found them to be useless and expensive. Regarding your other blog about depression and stuff I would recommend magic mushrooms. They can really improve your outlook on life and they are dirt cheap if not free.
ive spoken psilocybin for years on the channels, in fact its how the channels started, i refer to this as ceremony these days however which fruiting body supplements did you try, at what dose and for how long?
surprised to hear actually, though it is true different mushrooms affect people differently If you ever feel experimental, try 4 lionsmane after no alcohol, coffee or medications for a few consecutive days
Sounds good. I'm thinking the government there is doing better for their citizens than Australia. I have only ever paid for my tax to be done twice in my life and both times it was to help a friend. Doing personal tax is relatively easy. But our government is always trying to screw the citizens. I'll try to give an example, okay so back in 1986/7 the government made a rule that you could claim $300 no questions asked. It has never increased. Unlike everything else that has increased. This is a typical scenario for our government. At the time 1986/7 I was claiming $1200 and this was a reasonable amount and they agreed. So for the many people who fell into this deliberately set trap, they have been suffering. No doubt in my mind that the Australian government is definitely harming it's citizens deliberately. There is a UA-cam channel I subscribe to that is constantly putting out content that shows how the Australian government is raping our country.
I Moved out from Thailand 8 months ago to Philippines and don’t regret it at all, I lived in Thailand for +20 years but I started to get to the point I start calling Thailand the land of nonsense! Good luck with your life over there but I am out 😊
There was a reinterpretation of an existing Tax Law and it was published in the Royal Gazette on the 6th October, 2023. See - Mazar’s In Thailand To Advise Thai Tax Payers On New Taxation Rules For Foreign Income BANGKOK POST.
@@OsianLedger Are you saying the reinterpretation of the existing tax rule was not in the Royal Gazette on the 6th October, 2023 because if so I give other sources that says it was.
My country has a deal with Thailand from 2003 to NOT tax double. I already pay tax on my pension and will not be taxed again when moving that pension to Thailand.
A key word in the Thai personal tax law is "accessible". In my case I only bring in what I make with my Social Security check which can't be taxed here due to the Thai/US agreement. I make money outside of Thailand that I don't bring in, so none of that is "accessible". There isn't a line on the tax form for "non accessible" income so you just don't add it. The Thai personal tax law works on an honor system. No proof is sent in, or if you didn't make an "accessible" 60,000 bht, you don't need to file. But if you get audited and are found to misrepresented your status, the fines are quite high. This is ofcourse my understanding. There is something I heard that savings you had outside the country before 01/01/2024 also isn't taxable---- but I can't figure how the Tax department would separate that from other savings. AGAIN, this is only my understanding at this point.
I went and spoke with my local tax office late last year but I haven’t got a TIN or filed yet as I was hoping that maybe they would say retirees don’t need to as it looks like it will cost them more to process us than they collect. Anyway they had people who were there to explain everything and the link below explains who should file and deductibles & allowances etc. so you will see it is Singles/Couples with income above 120K/220K THB who should file. Any money you had before 1st January 2024 is not taxable in Thailand but if you are audited the onus is on you prove that was the case not the tax office to prove it was after the 1st January date. See - How To File Your Income Tax In Thailand In 2024 EXPATICA.
@@John-G In the past if you was not working legally in Thailand and went to the tax office asking for a TIN they would tell you that you didn’t need a TIN and to go away. This gave us the perfect excuse for not filing and defense against penalties for not filing though they never enforced them. The only thing that has changed is the interpretation of an existing tax rule. So I was hoping the tax office would continue to tell us we didn’t need a TIM and to go away. However this no longer seems to be the case retirees are reporting that have gone to a tax office and walked out 15 minutes later with a TIN.
@ 1) In Thailand TIN stands for Tax Identification Number look it up. 2) I spent 8 months in Thailand in 1999 and when I left I never had to file a tax return when I left. 3) If as in the past the tax office wouldn’t give you a TIN telling you that you didn’t need to file then it was a the perfect excuse for not filing as you can’t file without a TIN. I also said they never enforced penalties for not filing and nowhere did I mention working illegally. 4) There is a new interpretation and it was published in the Royal Gazette on the 6th of October, 2023. See - Mazar’s In Thailand To Advise Thai Tax Payers On New Taxation Rules For Foreign Income BANGKOK POST. 5) Singles/Couples with income over 120K/220K THB who are tax residents should file tax returns regardless of if they have tax to pay or not. See - How To File Your Income Tax In Thailand In 2024 EXPATICA. If you’re going to reply to this comment please put sources to support what you saying.
Death and Taxes, only 2 sure things in life. I hate paying Tax too anyone. If I had to pay Tax if I lived there on a retirement visa i would be very pissed off and would probably choose not to retire there if that was the circumstance. Cheers Ryan
Don't pay tax in Thailand unless you can vote. This is fundamental human right. You live in Thailand you are paying taxes without representation. Think about that.
You need to show yoi have paid tax for 3 consecutive years (along with some other criteria) After this you apply for citizen ship then you can vote Which is why I pay tax, along with the right to hold a valid work permit
Did i say that? I said like every business in the world "there is alot of paperwork", considering my family have a company in Dubai I can tell you there is still alot of paperwork
You mean the corrupt mafia called politicans? What services? Look what taxes are spend for! Only 10% is spend on things which makes sense. 90% is fraud.
Surprisingly too many people voluntarily reach out to the Department of Revenue when tax laws are unclear and undefined. Tax experts only make money when they tell you, that taxes are owed. Unless the Revenue Department gives you a tax number, you hold a work permit or own a business, leave well enough alone. I have very many Thai relatives and none pay income taxes!
Next vlog I show our PM 2.5 reading which are perfectly safe for 99% of the year in our location (under 5kg/m3) - Air purifiers in every room to monitor and clean anyway 👍
We got a 5000 bhat fine for selling beer without a license after renewal was refused a few months ago After paying the fine the new license was granted Nothing makes sense here 😂😂😂
Paying taxes in Thailand ? You've got to be stupid if you do that. Park Bt800k in the bank for a visa and the job is done. No need to declare anything else.
Not stupid if A. You have a company and want a work permit B. You want permanent residency and citizenship If you don’t want these fine but if you do then it is the opposite of stupid 👍
Thailand government need more money so foreigners have to pay, especially if you make money from UA-cam or any media platforms in Thailand and the taxes will only increase, that is thai way
🍄 MUSHROOMS: Discounted Fruiting Body Mushroom Supplements - Thailand & Worldwide Shipping: bit.ly/3Vu8Hp3
Please Note: Some suggested that it’s best not to disclose or pay tax in Thailand but I will say that taxes are not high in Thailand like the west and it is peace of mind to be 100% legal. I also owe Thailand for everything I have and have always paid tax including working in corporate. Also paying your correct taxes gives many benefits towards long term stay. This is not advice but sharing what I do because I’m often asked.
Yes! Another great video and a shout out for Ben, too. He is a gem in the expat community in Thailand. Keep up the great work!
Have you used his service?
Am a retired welder, and sorry to say, that's bloody atrocious, hardly been welded at all..
Most likely because whoever did it wore a pair of plastic sunglasses instead of a headshield. So may aswell have been done by a blind man.
And as for the somewhat peculiar thai tax system., Back when i had a bar, was given permission by the chinese/thai lease owner to put in another toilet, an improvement in order to gain a separate ladies & gents.
All went to plan & 50,000 bht later the job was a goodun!
Then came a call from the owners lawyer explaining, I had to pay another 15000 bht 'Betterment Tax'
That was it for me., Sold business, back to blighty, & back to welding.
yes that weld was broken. or just missed the actual groove.
I thought I should share my own experience when it comes to Thai taxes, so maybe some foreigners would stop worrying so much about the future. First, I am Thai, and have paid my taxes for 18 years here. But more interesting (I hope), I also filed taxes for my late Norwegian husband, for over a decade. He willingly paid taxes to Thailand because he saved money doing so. Norway have a double tax agreement with Thailand, like I guess all of you who read this, have (I suggest everyone reads what yours exactly states).
But Norwegian laws is a little different, the law states that you must pay taxes in the country you live more than half the year in. Anyways, after deductions, he ended up paying between 6 to 9% taxes here in Thailand (his income and deductions varied a little). In Norway he would have to pay between 15-18% of this amount he brought in to Thailand.
In the first year, he paid taxes to both countries (before he was registered emigrated from Norway). But the DTA made sure that he was reimbursed all paid taxes from Norway the same year as he filed in Thailand. The DTA worked, no one will have to pay double tax (without being reimbursed). Even if you technically do that the first year, since taxes might automatically been withdrawn in your home country in the switching process.
The following years, he would only have to file taxes in one country, Thailand, and as mentioned, he saved a lot doing that.
I hope this clarifies a little for some out there. Depending on your own situation and the country you are from, you might actually be better off being taxed in Thailand 😊😊
Thanks for sharing!
@@John-G You`re probably right. Some expatriates choose anyway to not officially emigrate, and instead use a home address with a relative or such (and breaking their own law..). It might be more correct to say that Americans are the different ones here, but it seems most of the tax videos from Thailand have a lot of Americans in the comment sections. Maybe not Ryan`s videos though, they probably have mostly Brits, which have similar laws as Norwegians, I believe. Except that you DO get yearly inflation (or other) increases to your state pension from Norway, living in Thailand 😊
@John-G Right 👍 How about if you stay less than 180 days in Thailand (to avoid Thai taxes), and the rest of the year you frequent between two other neighboring countries, let's say Malaysia and Indonesia, that will still make you a UK tax resident, right? Even if you are not spending one day in the UK, maybe for many years? It's an interesting topic these days.
@@John-G But the US does have tax treaties with most countries so that if you pay tax to another country that is basically not double taxed (it is a little more complicated than that basic sentence sounds and a lot of paperwork).
We are a couple both have Norwegian citizenship and my wife (for over 40 years) also have Thai citizenship. We have come to the understanding likewise as mention by sarina1 that it taxwise beneficial for us retired as we both are to pay tax to Thailand.
You are doing something right if you are turning a profit in your first year. Very informative vlog backed up by references makes you a rarity among expat UA-camrs. Cheers.
I too live in Isaan, not far from you. While i don't have a registered business here the tax situation for many in my position is very unclear. Farang bring a huge amount of money into thailand already and many businesses would fall over if not for us.
for one example, the four big shopping complexes on Samui, where I used to live, would be gone if it wasn't for their foreign resident clients.
Not such a big problem in the less tourist sensitive areas of course.
I do love Thailand, but if they seriously try and tax retiremennt income from abroad, they will ultimately lose more than they gain
I have paid tax for 10 years now in Thailand on my pension due to the double tax agreement with Thailand. Never had a problem, Revenue Department is always helpful and I pay A LOT less here than back home. I get a lot of deductions because I am disabled and have a big family here. But everyone have to do their research as every situation will be different. It can in most cases be done online now, all forms and information is in English. I use Korat Tax Revenue Department because I like to be there in person.
Thanks for sharing
But u can't vote
@@patrick54847 why do I want to vote? I don't even vote in my own country. 😂
Very informative. Thanks
Great video, Ryan, and I am pleased to see you are looking better. I much appreciate that you emphasise that you are not giving legal advice, only passing on your own experiences. I also watch Integrity Legal Thailand and admire his passion for Thailand and doing things the right way. 🙏
Veryvhelpful vlog so thanks. The tax issue is beyond maddening. A lot of us are looking at the easy out; making sure we're out of the country 6 months a year.
That’s your opinion looking fro an easy way out just a ridiculous statement do your tax return is the easy way out not leave how dumb is that
@conthrust I agree. People like you should just do as you're told.
@@John-G No tax obligation at all if you stay less than 160 days.
Something I didn't realise until recently was that anything tax exempt in your citizen country is up for grabs in your host country, even with a double taxation treaty. In March my income will increase because I start getting a small company pension from UK. I will still be below the income tax threshold in UK but here in Croatia the personal allowance is much lower, so I will have to start paying tax. I was offered the option of taking part of the pension as a tax free lump sum but again, only tax free in UK. If I take it I will be taxed on it in Croatia.
Exactly the reason for forward tax planning!
Great information.... thank you Rayan for the video 👍
I paid full tax for all the years I worked here (30). I have obviously a Tax ID number .I worry now about bringing monies into Thailand. Inheritance monies and invested savings. I completed the forms sent by my Thai Bank in December. It seems they wanted to Identify Americans living here as a 'priority' as the forms were almost copies of US Revenue Dept. Forms. I wait in hope! As I would only be spending money here and providing for my kids later in life-I'd hate to pay Tax again on money I've already paid Tax on! Ugh! Not nice!
Inheritance is exempt from taxation provided you can prove it's inheritance. A letter from your lawyer stipulating such, with a copy of the Will and death certificate should do the job.
@@John-G For sure ! IRS format.
@@timbimjim514 Just to spend my own money here in Thailand that is what I need to do?? Unreal.
America has a very aggressive tax system. It is one of only two countries in the world that require you to report income from anywhere you earn it. They also require you to disclose assets anywhere in the world, which is probably why you saw all those forms from the bank.
@@jenniferwithey6443 say it all about the USA and now that fat lying felon goose in charge who will destroy the dumb that’s why all,out families sold up and left the rat hole
Hopefully you are doing all the right things to be eligible for Thai citizenship at some point. You have the specific set of skills!
I ran a company in Cambodia. The paper work was crazy. Like anywhere really unless you're try to fly unnder the radar.
Do you have to submit monthly returns as well?
Best advice I can give is to read and understand the local tax laws yourself. Not all accountants are created equal. Beware of the phrase "no problem", anywhere.
We can file the monthly ourself and just use an accountant for the yearly -
Agree with what you said 👍
If you are not a Thai national stop providing illegal tax advice period
or what?
I asked a local lawyer in Chiang Mai to refer me to a tax specific tax agent, he had one in mind but said she would have no idea what to do for crypto taxes.
The search goes on
the joys!
Crypto is on the tax form.
You buy an investment house 1 million, u not sell you not pay tax, you sell 2 million you pay tax on 1 million (added to whatever income you had that year) minus costs to own property.
You buy crypto1 million, u not sell you not pay tax, you sell 2 million you pay tax on 1 million (added to whatever income you had that year) minus costs to own the crypto.
If a tax agent doesn't understand this then they ain't really a tax agent.
It's still much less than we pay in the Uk.. I would happily pay taxes in Thailand at these rates!
What is the cost and time of setting up a business in Thailand? Also, about the initial capital for the business is too high, is there a work around or you have to deposit that amount in bank?
Please update us in the future this is very helpful. I am driving my Thai wife crazy talking about tax everyday.
What health insurance company for 20k / year do you use ? Thanks
Managed to shoehorn the word "fastidious" in there. Go on my son.
Very informative mate
Thank you M8, great information, very appreciated cheers 👍
Agree completely with doing everything strictly above board. Smart decision.
No one likes paying taxes. But it is never worth the risk to screw around with anything government-related, especially taxes, when the potential penalties typically far outweigh the benefits.
In the US, special agents of the Internal Revenue Service (IRS) carry badges & guns. Needless to say, it is not too smart to mess with any government agency that has guys who carry badges & guns. And, it was the IRS which famously took down gangster Al Capone, when all other authorities failed to do so, by getting him convicted of tax evasion and thrown in prison for more than 7 years.
Just a little something for folks to keep in mind, when considering too much creativity in filing & paying taxes. :)
Importance of Family Support as
for provide a positive and peacefull environment to your child! Building a strong support system for yourself and your family.
Encouraging open communication and understanding within the family unit.
Working together as a team to advocate for your child's needs. This is better to declare the tax situations by your own including with Damo ides is the best way to solve the information that you had info about it few minutes ago.
May I ask who you have your health insurance with and if you're happy with it? Thank you. If you have a video on this please share.
What about taxes from stock trading and crypto? Do you declare these in Thailand too?
little bit complicated but most stocks are held in an ISA which is tax free and based in the UK
Crypto is also on a UK exchange which is not subject to tax if you are a non resident - however if you bring it to thailand it could be subject to tax, unless say it was a gift. This is my understanding. Not fact.
@@thenakedguru That's interesting, I trade futures markets in the USA, so I am wondering about my situation here when I order money from my trading account! I am also wondering about an account in Singapore and using a multi national gold card to access money?
Good video - clear and simple. I bring into Thailand my Pension which is not assessable income under the Aust-Thai DTA, plus a little of my savings, but the total amount less our deductions (joint income return) is under the amount I would pay taxes on. In addition I gift tax-free direct to my Thai wife's bank account additional monies she needs needed (buy house, car, medicals, etc etc).
Things may change if Thailand implements a global based income tax system, not just on income monies earned in Thailand and overseas (whether brought into the country or not). Until then all is fine - and my savings and pension will be covered under the DTA anyway (I hope).
Very informative Ryan 👍
At what stage would I start to declare tax. Would it be as soon as my Retirement Visa and Bank account is activated.
Above 30mil annually company rate jumps to 40% as default 😢
Don’t make too much money! 😁🙏
Make the 30 million and gift 20 of it to your wife😅
As a UK domiciled, qualified Chartered Accountant, living in both the UK and Thailand., consider your company which pays you 50k bht a month to pay a salary to your spouse such that she incurs a lower marginal income tax rate!
By law he must pay himself that as a minimum in order to obtain his work permit/visa
Hi, Ryan! Maybe you should take a look at the tax brackets again, from 300k to 500k is 10%, and from 500k to 750k is 15%. Your last 100k (you wrote 300k-600k at 10%) would fall into the 15% bracket.
Just nitpicking from me (sorry..), thanks for this video 😊
i blame chat GPT haha, but thanks for pointing out! :)
So if you bring in money from homecountry you have to pay 5% tax on already 50% paid tax on it?
As a former Naval trained metalworker and retired metal fabrication business owner of twenty five years, the welding is good enough as a temporary fix for Thailand. Life is better without over-regulation and endless certification.
Be careful with the UK ISA. Once you're non UK resident you cannot keep contributing to it.
For me, my main concern is bringing in a large sum ( say 5 to 6 mil. baht) to buy or build a home.
How to do that without paying taxes using money from either (1) savings/investments that have already been taxed, or (2) money from the sale of my house in Canada which is tax free for capital gains.
You need professional advice. However as a last resort my understanding is that you could ensure you spend less than 180 days total in Thailand during calendar year 2025, so you are not tax resident in Thailand for this year, and meanwhile transfer the money from Canada or wherever into Thailand, then go back to living full time in Thailand from 1 Jan 2026. But seek professional advice.
This is only my idea. Since you are not taxed on money that was in savings before 01/01/2024. Get a bank statement from that date. Open another saving account and move any extra you may have put it since to that account. Take the money for the house from the old account and keep a paper trail.
It appears that savings accumulated prior to Jan2024 is not subject to Thai tax when remitted. Income from investments (like the sale of your house) will be subject to taxation after Jan2024 if remitted. How you establish which funds are which is unclear so a Thai tax advisor should be consulted at least initially if you are deemed a tax resident. A vexing issue for sure. Personally, I would never buy any property in Thailand let alone build one but to each his own.
firstly I wouldnt sell my house in Canada as its only going up in price, better than money in the bank, and second I would not waste 6m baht on a house in thailand..Even if you left it to the wife within a couple of years it will be a wreck due to her not having the income to maintain it..spend 3m and save the other 3mil, and if you should need to head back to Canada, you have your house there..dont burn all your bridges
Dang man! It's now "Dr Guru". Good for the chicken. Granted, a small victory and which really didn't make much of a difference for the world but it most definitely made a difference for the chicken and I bet the family.
Do an experiment
Rice husk doesn't decompose even after 3 years in the soil
It contains high percentage of silica
It is useless in farming in my opinion
Rice husk is commonly used in Thailand for starting seeds due to its abundance, affordability, and agricultural benefits. Farmers often mix rice husk, either raw or charred, with soil or compost to create a light, well-aerated medium ideal for seed germination. The husks improve water retention, ensuring seeds remain moist while also enhancing drainage to prevent waterlogging. As the husks decompose, they release silica and potassium, enriching the soil with essential nutrients. This sustainable practice aligns with Thailand’s status as a major rice producer, providing an eco-friendly and cost-effective solution for farming.
We bought a couple of bags of local compost in Nakhon Nayok, very different quality to UK compost, light and black like a charcoal. Let’s see the results in a couple of weeks 🌱
My son is a tradesman in Australia, his gross is 160k , AUD , his tax is about $40;000 a year
Still too high.
Australian tax is ridiculous!
He must have deductions
Nuttsy , NO deductions old mate PAYE
Who cares what happens in Australia we don’t
All the people that love socialism. Will now experience firsthand what they vote for. Tax on everything.
I think you'll find you will be liable to tax on your crypto and investments in the UK when you withdraw from the ISA. Best thing to do before you make more profit would be to move it offshore and cut ties with the UK.
What I do in Thailand is use an EoR here to get a work permit and pay taxes here on all money I bring into Thailand. It is a bit costly in terms of the EoR fees but makes the most sense in my position as you do need a tax base. The EoR handle all the paperwork and I effectively pay the tax before I recieve my wages, like PAYE in the UK
Interesting point about the ISA. how do you trade offshore though, if you are holding shares long I mean
@@thenakedguru find a offshore trading platform like Swissquote
Same here in france mate. They’ve got us by the bollox what ever you do.
Regarding declaring income from UA-cam, I’ve always wondered about that. There are so many retirees with UA-cam channels who receive income. Whether they should be paying tax or not is unclear, but is there the potential that Thai authorities might consider this to be work, in which case, without a work permit, they’re in breach of the conditions of their retirement visa?
They are obviously breaching the law, but so are many other retirees who still conduct occasional business by phone, in person meetings to discuss deals and so one.
If they ever go after retirees who do UA-cam it will end up just pissing people off. These youtubers, for better, or worse attract people to the country.
@ It feels like most of the UA-camrs in Thailand are in Pattaya and I suspect the people who visit Pattaya will go there whether or not it’s ‘promoted’ on UA-cam. Beyond that, there were 35 million tourists to Thailand last year and I’d suggests tiny minority were attracted there because of UA-cam. The government are making a concerted effort to attract wealthy tourists and promote family friendly attractions, so I suspect they won’t care about some guys looking to enjoy bars and women, deciding to go somewhere else. Ironically, for many of the Pattaya/Patong visitors, the UA-camrs in the entertainment areas are often as unpopular with them as they are with the women working in those areas, as most of the people there want to go about their business in some sort of anonymity.
Equally, the government have brought expats’ income into the spotlight as far as potential tax liability is concerned. Whether expats ultimately need to pay tax or not will depend on individual circumstances, but clearly the government don’t mind the risk of upsetting foreigners.
I am not a tax expert , in fact rather a nerd on the subject. However, my home bank closed my accounts and ATM cards yesterday, because I missed an email from them some weeks ago re Updating my Tax residency status...I have $5.50 to my name and are 70yrs old and in a foreign country with no airfare home, but she'll be right.The ghist of my story is I am always confused when asked ' where are you a resident of '..Thailand is 180 days, my own country is 45 days, and I qualify for both, but this confuses the govt departments and banks, as all are in cahoots with each other..Immigration have me down on a retirement visa to Thailand, Customs have me moving between three countries every year, and the bank has me down as a resident of home..My theory was that my income is generated in my home country,, and goes to my home country bank and I live off an ATM card, so therefore my home country bank can tax me as they do..My cards came back on line within 30hrs..every time I travel I have these problems..The bank even said they had seen I had travelled
Is that welding being covered under warranty?
🤣 no never in rural thailabd
I think it cost 50 baht
Thai Tax Laws ; A enigma, inside a riddle, inside a Puzzle:
Well said. When you start to understand the complexities of what the Thai government created with this remittance based tax system, you understand how deeply deeply flawed it is. Terrible policies that you can drive a truck through, but just as easily a tax official in the government could determine you owe a lot of taxes. Terrible situation. The domestic taxes seem very straightforward, but for expats 🤮
Thanks. So, as a newbie, can anyone from the UK tell me clearly what taxes are payable on pension income and how these taxes are levied: For example how can the Thai authorities know when UK funds are accessed in Thailand through, eg., an ATM.. Second, would these putative taxes on pension wealth contribute towards eligibility for Thai citizenship..? I'm still bamboozled..
I’ve been watching your videos as of late. I have a chronic illness and my wife is divorcing me. What I need medically is mostly medications. Is it true that I can get meds in Thailand without a prescription? Can you direct me to someone/somewhere that I can find out more about this topic?
Thanks.
You can get anything
Sometimes it takes contacting many pharmacies and distributors but you can buy 95% of meds direct and have them posted to your door 👍
I take a lot of medication so mid 2000s when I lived in Thailand for a few years I brought all my medication ( well mainly just the empty boxes) to Thailand and went to several pharmacies who checked availability and quoted on them. Surprisingly it was a small private pharmacy who came up with the best deal and I used them for the 3 years I was there.
The easiest and cheapest way I found to get my meds is by going to the government hospital and getting 3 or 6 months which they give easy. They are cheaper than the high street pharmacy and way cheaper than private hospitals who get 35% of their revenue from medicine sales. Vachira government hospital in Phuket and general government general hospitals in Hua Hin, Chiang Mai, Udon Thani, Khon Kaen all have Foreigner/VIP offices (The following will take you to a YT Vid showing the one in Udon Thani - Hospitals & Info ISAAN FARANG). I use the one in Udon Thani. The Foreigner/VIP service costs me 810 THB and it’s 240 THB to see the Doctor but it’s still cheaper than the high street. I had heart stents put in so I take tablets for stopping blood clots, blood thinners, blood pressure and for my diabetes 2. All in with the Foreign Office service charge, doctor fee and 3 months supply of meds my bill comes out about 6,000 THB.
Would not touch any of that money making garbage . Eat healthy I am 83 and still working part time . Don't drink smoke or any bad habits and you will be ok .. Don't listen to shonks ..
I am SO SAD! I am allergic to mushrooms!!! :(
I'm wondering if it would be a cost saving only transferring minimal amounts then travelling home once a year and bringing back a pocket full of cash? Food for thought i suppose
I'm pretty sure they cannot police/monitor atm withdrawals or even credit card purchases, there's a law about carrying large sums of cash in and out of countries 🙈. So if and when this new law does come in, transfer 300k through your bank, pay them the 7500bt to keep em sweet, then live off credit cards and ATM withdrawals
❤ Hi guy's. Do you give your animals honey for antibiotics when they're a bit off. My cats, poultry and any animals get 3 little doses a day, if they aren't feeling the best. Saved many vet bills. Cats lick it off their front paw. Can water it down to use in an eyedropper to quirt at side of mouth or beak. Aussie farmers also put it on cows ears for antibiotics through the skin. Fly bites etc. xo❤
Whats is the expression: Death and taxes are a certainty in life. Most countries are strict with tax. Thus i will be going to the tax office, get a TIN and fill in a tax return. My tax affairs are simple, fall into double taxation regime, and should be fairly simple to fill in the return.
Before you file a tax return, I would suggest you seek professional advice. You may not need to file at all. Could be a headache of you didn’t need to file, but did anyway, and later had to go through an unnecessary audit.
I used to have an Ebay business when I lived in Bangkok, but all money was paid into my Paypal Account and, from there, into my UK bank. At the time, there was no problem bringing money into Thailand, so there was no reason to register the income. Out here in the sticks, I don't know of anyone paying income tax.
Farangs are worrying about nothing
Really?
I get an income from 3 different countries in total about $102,500, (pensions, investments and savings interest) , as at today after paying tax in 3 countries. One of those countries taxes me at 5%. Thailand wants another 30% on that.
Why should I pay tax to a county that give me nothing in return for the tax it takes?
@@jeh1333 because you are in that country for more than 180 days meaning you are benefiting from their infrastructure and everything else. It is only fair you contribute. If you don't want to, don't spend so much time there. Simple really. And you only pay on what is brought into Thailand
@@nickwhite4010 he is contributing to the infrastructure cost by consuming in Thailand. This is what the infrastructure was built for.
Ultimately consumption becomes a 100% tax.
@@jeh1333 Isn't it great to retire and then spend a lot of your time managing your investment portfolio. That's work too, it's hardly recreational. Retired but not dead is the way successful retirees live.
Land of Confusion - Genesis. Disturbed covered this song too.
20k tax on 600k income is a 3.3% tax, I mean lets all be honest, whats NOT to like.
bingo
Zero tax would be better. In the US, a family of four would actually receive a refund from the government. I find the tax brackets in Thailand way way too low. They should starting taxing income at a much higher level of income,especially for a family.
@@Mark-yo5ue AND. Your point is? Now go and Live a quality of life in the west compared to Thailand, sorry, wait what, you cant??!!
Family of four with tax refund living in a tent behind Cosco, rummaging in the BINS.Trying to pay off CC's / Student Loans, and Health schemes.
Now check out Thai National Debt vs US state debt , right DOH, end of. Meaning all the pieces of paper shuffling around are leading to an ineffective economy in USA 120% of GDP vs. Thailand 62% of GDP, basically TAX collected or not applied or not. Yeah, .....
@@Sammyli99 Taxes on his example, 600k baht income, is 42500 baht, 7.08%, before any deductions. But Ryan has a few of those 😊👍
Maybe this year, next year dobble and so on. Taxes are going in one direction only. If politicans see they come through with this, the tighten the screws next year.
As a welder it will do the job for now. You’ll likely weld more places as time goes on 👌🏼😅
You’re the man to ask then. What do reckon to the 2 pack epoxy cold weld stuff especially on thin metal and simple stuff like his trike were you just want to stick 2 pieces of metal together as you can buy plenty of that here.
@@John-G Why it’s not like your welding a pressure pipe, stick welding is not the best method for joining thin tubing which was probably done by TIG or MIG welding in the factory. There are plenty of 2 pack cold weld products designed for joining metals available in DIY’s stores here in Thailand.
@@IsaanMan I have Zero idea about the 2 pack epoxy that your speaking of.
If you’re in Thailand you’ll always find someone that can just do very quick stuff like this. I wouldn’t say it’s the best welding in the slightest but the steel is so thin anyway.
By all means try the epoxy stuff and let me know how you get on 👌🏼😅
@@John-G you have seen what he’s welding together right??? It’s not a Rolex 😅 this is rural Thailand and I’m certain it will be welded again in the future regardless.
@@IsaanMan man knows right here. 👌🏼🤝🏼
Hey Ryan, is there a shroom that could help with sleep? I’m getting on average 4 hours a night, and I’m very active with work during the day. I’m bloody knackered 😂
I use reishi for a deeper REM doesn’t get you to sleep but can help you stay there if you are like me. 👍
pmc.ncbi.nlm.nih.gov/articles/PMC8555286/
Reishi: fruitingbody.co.th/product/reishi-mushrooms/
Nice one mate. Falling asleep is not the problem. I’ll have a hunt for it, not sure I’ll be able to get it in China
Thanks. Fellow insomniac. 4 hours is about my average, too.
Lyrica
That weld is temporary i hope because it doesn’t look too good.
that weld looks temporary
Hi Ryan been trying to ring met you at lahan sai buy Nookie food.
I bought some of these mushroom supplements from your shop and to be honest I found them to be useless and expensive. Regarding your other blog about depression and stuff I would recommend magic mushrooms. They can really improve your outlook on life and they are dirt cheap if not free.
ive spoken psilocybin for years on the channels, in fact its how the channels started, i refer to this as ceremony these days however
which fruiting body supplements did you try, at what dose and for how long?
@@thenakedguru The lions mane supplements
surprised to hear actually, though it is true different mushrooms affect people differently
If you ever feel experimental, try 4 lionsmane after no alcohol, coffee or medications for a few consecutive days
@@thenakedguru I did up the dose at one stage but then gave up. I wanted to get something from them but alas nothing.
How about Sea Moss?
Also here: bit.ly/3Vu8Hp3 👍👍
How much you make?
Sounds good. I'm thinking the government there is doing better for their citizens than Australia. I have only ever paid for my tax to be done twice in my life and both times it was to help a friend. Doing personal tax is relatively easy. But our government is always trying to screw the citizens. I'll try to give an example, okay so back in 1986/7 the government made a rule that you could claim $300 no questions asked. It has never increased. Unlike everything else that has increased. This is a typical scenario for our government. At the time 1986/7 I was claiming $1200 and this was a reasonable amount and they agreed. So for the many people who fell into this deliberately set trap, they have been suffering. No doubt in my mind that the Australian government is definitely harming it's citizens deliberately. There is a UA-cam channel I subscribe to that is constantly putting out content that shows how the Australian government is raping our country.
I am in Vietnam Can you ship Mushrooms here Ryan.?
Hey Michael - you can check in the checkout on the visits if DHL will cover your address 🙏
All above board except for the building regs and permission for your home 😅 luckily t.i.t
yea not required so long have you have local village permissions :)
👍🏻👍🏻
I Moved out from Thailand 8 months ago to Philippines and don’t regret it at all, I lived in Thailand for +20 years but I started to get to the point I start calling Thailand the land of nonsense! Good luck with your life over there but I am out 😊
Thank you
nothing has been put into law so all these are assumptions by people and ranting on about what they know nothing about
There was a reinterpretation of an existing Tax Law and it was published in the Royal Gazette on the 6th October, 2023. See - Mazar’s In Thailand To Advise Thai Tax Payers On New Taxation Rules For Foreign Income BANGKOK POST.
@@IsaanManfrom what I remember that article was rubbished as simply scaremongering and disinformation, Bangkok post is not gospel
@@OsianLedger Are you saying the reinterpretation of the existing tax rule was not in the Royal Gazette on the 6th October, 2023 because if so I give other sources that says it was.
My country has a deal with Thailand from 2003 to NOT tax double. I already pay tax on my pension and will not be taxed again when moving that pension to Thailand.
If there will be Tax- I will not buy any propety.
Biggest con on planet earth. A tax on your sweat equity.
👑
A key word in the Thai personal tax law is "accessible". In my case I only bring in what I make with my Social Security check which can't be taxed here due to the Thai/US agreement. I make money outside of Thailand that I don't bring in, so none of that is "accessible". There isn't a line on the tax form for "non accessible" income so you just don't add it. The Thai personal tax law works on an honor system. No proof is sent in, or if you didn't make an "accessible" 60,000 bht, you don't need to file. But if you get audited and are found to misrepresented your status, the fines are quite high. This is ofcourse my understanding. There is something I heard that savings you had outside the country before 01/01/2024 also isn't taxable---- but I can't figure how the Tax department would separate that from other savings. AGAIN, this is only my understanding at this point.
I went and spoke with my local tax office late last year but I haven’t got a TIN or filed yet as I was hoping that maybe they would say retirees don’t need to as it looks like it will cost them more to process us than they collect. Anyway they had people who were there to explain everything and the link below explains who should file and deductibles & allowances etc. so you will see it is Singles/Couples with income above 120K/220K THB who should file. Any money you had before 1st January 2024 is not taxable in Thailand but if you are audited the onus is on you prove that was the case not the tax office to prove it was after the 1st January date. See - How To File Your Income Tax In Thailand In 2024 EXPATICA.
@@John-G In the past if you was not working legally in Thailand and went to the tax office asking for a TIN they would tell you that you didn’t need a TIN and to go away. This gave us the perfect excuse for not filing and defense against penalties for not filing though they never enforced them. The only thing that has changed is the interpretation of an existing tax rule. So I was hoping the tax office would continue to tell us we didn’t need a TIM and to go away. However this no longer seems to be the case retirees are reporting that have gone to a tax office and walked out 15 minutes later with a TIN.
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1) In Thailand TIN stands for Tax Identification Number look it up.
2) I spent 8 months in Thailand in 1999 and when I left I never had to file a tax return when I left.
3) If as in the past the tax office wouldn’t give you a TIN telling you that you didn’t need to file then it was a the perfect excuse for not filing as you can’t file without a TIN. I also said they never enforced penalties for not filing and nowhere did I mention working illegally.
4) There is a new interpretation and it was published in the Royal Gazette on the 6th of October, 2023. See - Mazar’s In Thailand To Advise Thai Tax Payers On New Taxation Rules For Foreign Income BANGKOK POST.
5) Singles/Couples with income over 120K/220K THB who are tax residents should file tax returns regardless of if they have tax to pay or not. See - How To File Your Income Tax In Thailand In 2024 EXPATICA.
If you’re going to reply to this comment please put sources to support what you saying.
Death and Taxes, only 2 sure things in life.
I hate paying Tax too anyone.
If I had to pay Tax if I lived there on a retirement visa i would be very pissed off and would probably choose not to retire there if that was the circumstance.
Cheers Ryan
Bingo 😁
Don't pay tax in Thailand unless you can vote. This is fundamental human right. You live in Thailand you are paying taxes without representation. Think about that.
You have to pay tax first in order to vote
@thenakedguru I don't get it sorry. U paying tax right ?
You need to show yoi have paid tax for 3 consecutive years (along with some other criteria)
After this you apply for citizen ship then you can vote
Which is why I pay tax, along with the right to hold a valid work permit
@@thenakedguru ok great, I hope u get the citizenship
@@thenakedguru the other criteria, having a Thai wife ?
That is a really bad welding job.
I love your tuk tuk. Have your welder guy look over your tuk tuk and look for any other problems bro. Peace
Give unto Caesar what is Caesar's and unto the lord what is the lords. In other words, Mei Pen Rai with taxes.
Every business in the world? Do you think you have to file taxes in Dubai?
Did i say that?
I said like every business in the world "there is alot of paperwork", considering my family have a company in Dubai I can tell you there is still alot of paperwork
not a welder , but that looks sloppy
You use their services. You pay taxes. Period
You mean the corrupt mafia called politicans? What services? Look what taxes are spend for! Only 10% is spend on things which makes sense. 90% is fraud.
I have never heard you speak Thai. Are you trying to learn the local language? It's good for assimilation.
Here: ua-cam.com/video/Y12GgAqZ4zY/v-deo.htmlsi=wJ31-F-Mp7U3dVSC
And
Here: ua-cam.com/video/A3XZ_n4ApKk/v-deo.htmlsi=sv1B5fyeSxpOO2kX
@@thenakedguru You send your kids to a Thai school too?
Private Thai school with EP but yes 👍
Then you haven't watched alot of his videos.
Ryan speaks Thai all the Time and very well
Surprisingly too many people voluntarily reach out to the Department of Revenue when tax laws are unclear and undefined. Tax experts only make money when they tell you, that taxes are owed. Unless the Revenue Department gives you a tax number, you hold a work permit or own a business, leave well enough alone. I have very many Thai relatives and none pay income taxes!
I'm leaving Thailand due to taxes
thats a LOL, and the worst reason to LEAVE, lived in 10 countries inc TAX FEE and this is simply the best VALUE for MID RANGE NET INCOME end of.
I doubt it
@Mark-yo5ue I paid 33k for an Elite visa for my family. Now they want to tax my credit card transactions and remittance, fuck that.
how is that toxic air treating your lungs ? perhaps paying tax for that helps .
Next vlog I show our PM 2.5 reading which are perfectly safe for 99% of the year in our location (under 5kg/m3) - Air purifiers in every room to monitor and clean anyway 👍
Mushrooms! Cannabis is a more healthy and lucrative business venture in Thailand!
Mushrooms have specific benefits, not present in cannabis. Besides, recreational use is illegal, and for medicinal use, it has to be prescribed.
We got a 5000 bhat fine for selling beer without a license after renewal was refused a few months ago
After paying the fine the new license was granted
Nothing makes sense here 😂😂😂
Paying taxes in Thailand ? You've got to be stupid if you do that.
Park Bt800k in the bank for a visa and the job is done. No need to declare anything else.
you have to be stupid not to if you have a business here, as explained in the video
But are they going to tax that 800k baht you transferred into Thailand to park in the bank ?
Lived here for 8 years and never paid tax - like 90% of Thais... seems like a stupid thing to do.
Not stupid if A. You have a company and want a work permit B. You want permanent residency and citizenship
If you don’t want these fine but if you do then it is the opposite of stupid 👍
Thailand government need more money so foreigners have to pay, especially if you make money from UA-cam or any media platforms in Thailand and the taxes will only increase, that is thai way
what is lasada?
Lazada is Thailand's Amazon.