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Michael ******
This is a summary of
Michael ******
's contributions to the platform. They have posed 12 questions and added 725 comments.

QUESTIONS

COMMENTS

Michael *******
Yip got my tax ID last year very straightforward I have done a return for last two years as I earned interest on deposit account which had tax deducted at source - it was refunded as my income fell below threshold , under old rules - new regime next year, unclear at the moment how they will deal with DTA when tax years don’t match - my UK tax year is April-April - all will be revealed in Jan I guess
Michael *******
@Christopher ************
that’s correct, effectively income will be taxed here, or in your home country, not much different to other countries I have lived, with exception of Dubai.
Michael *******
@Christopher ************
only if you are not paying tax in your home country, or there is no DTA in place .
Michael *******
@Frank-Steven **********
what’s the 90 day reporting got to do with tourist visas ? 90 day reporting is for long term residents 🤔 don’t see any reason for them to waive this
Michael *******
@Ross *******
we are not compelled to buy insurance for our Non OA as we arrived before it became necessary - but we kept our policies anyway, and with 4 years no claims we pay less than B40k a year with Pacific Cross….it’s reassuring to have it especially for major issues……
Michael *******
That’s the issue Andy, it’s a pain in the butt to do backdated returns, especially if there is a DTA , will be challenging enough next Jan as it is, for many. Yanks will find it easier as they have to file every year anyway so they will have all the data. As with any country ignore the tax man at your peril. At least here there will be the “agent” option.
Michael *******
@Dirk *************
no issue for the single sexpats, they can scurry off to Philippines or Cambodia, for families different story especially if kids involved.
Michael *******
@Dirk *************
they certainly knew when I did my 2023 tax return - very knowledgeable , even refunded tax deducted by my bank on interest paid. Perhaps they will suffer complete memory loss by next January, I guess i will find out when I submit my 2024 tax return - keep you posted. The worry will be when they work with immig and a tax clearance is required for retirement visa renewal - then we will see a lot of scurrying either to the airport or local tax office.
Michael *******
Tax advisors and consultants are crawling out of the woodwork on this , there’s gold in them there hills.