My question is what's the advantage of having a Thai bank besides the supposed pay with QR and transferring funds? Doesn't it open you up to tax implications depending on how much you transfer and hold in there? Why not just use a foreign bank that rebates your ATM fees and call it a day? I'm trying to understand the reasoning behind it.
Ok thanks that makes sense. However people always say that even if you have a foreign bank and withdraw from an ATM there, you have to pay taxes. It doesn't make sense, how would they even track it? Or why would that money be taxable.
I wish it was more straightforward. For example say someone doesn't work at all but also doesn't receive any retirement or pension, if they have a bank in the US and withdraw money at an ATM AND stay past 6 months in a calendar year. Do they have to pay taxes???
This is what I don't understand, people are praising the DTV visa but in reality it's just a way to stay for 6 months per year unless you want to be a tax resident. So in theory one must stay 6 months in a calendar year in Thailand and spend the other 6 months elsewhere kinda sucks honestly.