Always tell taxman
Re: “Expat exploitation”, (PostBag, Feb 15).
Eric Bahrt and others rage against the supposed iniquities visited upon expatriate retirees by the immigration authorities, but in recent decades there has been a huge increase in the number of foreigners choosing to spend their retirement in Thailand. Some may not have made adequate provision for the medical assistance that will probably be needed as they age, and the Immigration Department are no doubt well aware of this.
The changes recently brought in regarding the income/wealth requirements for renewing a retirement visa might well seem muddled and confusing, but I assume the authorities are simply trying to ensure that expatriate retirees have enough financial means to support themselves, or to cover medical costs.
Confirmation letters from embassies did not, for obvious reasons, confirm that income was actually remitted into Thailand. Income credited to a bank account overseas clearly isn’t of any interest to the Immigration Department until it actually arrives in Thailand. That may seem harsh, ignoring useful things such as credit cards, but I can see their point.
Mr Bahrt claims that we would be fools if we assumed transferring funds monthly to Thailand would not attract the attention of the Revenue Department.
My understanding is that it would not, but I hope he is not advocating tax evasion. Trying to hoodwink the taxman is a ploy which often ends up very badly, so if in any doubt get advice from a tax adviser. ROBIN GRANT