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RupertIII

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  1. Yes, so my wife tells me, it is assessable income less allowances, including the 150K 0%.
  2. A couple of points:- 1) My wife has spoken again to our previous book keeper who in turn spoke with the accountant/auditor for our previous company who confirmed that if personal income is below the taxable threshold it is not a requirement to submit a tax return and no TIN will therefore be issued. 2) As I have an ATM card with BKK Bank becoming due for renewal my wife telephoned the bank who confirmed that they definitely do not require a TIN for ATM renewal, only a/c passbook and passport. It would seem, as is typical in Thailand, that different branches will make up their own requirements as they see fit!
  3. Not seen this one before. Does this mean that the first THB100k pa of overseas pension rec'd is exempt from tax in addition to the various other allowances? Thanks.
  4. I would imagine that the onus will be on us to prove that the remittance was not into Thailand and no doubt, as someone earlier on in this or another thread mentioned had happened to him in the past, the tax man will request (demand) statements from all bank a/cs inside and outside Thailand.
  5. To avoid confusion this could be referred to as a certificate of residential address. Nothing to do with permanent Thai Residency.
  6. My understanding is that income earned prior to 1 Jan 24, e.g. in the current year, will not be taxed if remitted into Thailand in 24, or thereafter I assume. Income earned in 24 and thereafter will be taxed regardless of when remitted into Thailand.
  7. According to the chart below you would appear to fit into Scenario No. 1, although how they would be able to collect tax if you are not here is a different matter.
  8. So they will not be taxing unrealised capital gains, that's a relief - excuse the pun!
  9. Interesting. The Prachachart Thurakit article refers solely to income (รายได้) as opposed to also capital gains. As Thailand has no CGT as such and taxes capital gains as income I would be interested in knowing if the RD's proposed amendment is purely in respect of global income or would also likely encompass global capital gains, e.g. equities, investment funds, etc. If so if that would be only in respect of realized gains or also unrealized?
  10. This is even more worrying - https://www.prachachat.net/finance/news-1443480 Google translation of the last paragraph, immediately above the copy of the official order:- In the future, the Revenue Department will amend Section 41 of the Revenue Code by immediately calculating tax in the year in which income is earned abroad. Regardless of whether money is brought into the country or not, however, it may take 1-2 years to amend the law.
  11. Thanks Cyclist. There has been so much on different threads it is becoming difficult know what is fact and what is wishful thinking or fear mongering at times. I have found the link to the other thread - https://aseannow.com/topic/1311285-change-in-the-tax-law-does-target-expats-living-in-thailand-and-extends-reporting-obligations/page/19/ which reads, at the start, An article in yesterday's Prachachart Thurakit suggests the RD is starting to walk this back a bit but not giving up on it https://www.prachachat.net/finance/news-1432180?fbclid=IwAR0FtCbDVifNc-atDT8uHGklrCLP5PNOva3VrsaHFX9W_kjEm-bKQBnqEKc . It sounds like they are planning to exempt all foreign source income earned before 1 January 2024. The link also provides a Google translation of the Prachachart Thurakit article which would appear to confirm as does the MS Word translation below and also My Thai wife's reading of it. However, as you point out it is not directly from either the Government or the RD. My wife will be speaking to the accounts lady from our previous company but I rather suspect she is none the wiser! readsStart charging from 2024 However, the latest A report from the Revenue Department has concluded that in the first phase, it will be relieved in the case of income generated abroad before 2024, which, if not imported within the same tax year as the year in which the income was generated, will not be subject to audits as it will be difficult to find evidence. " Income born before 2024 will use the old rule, that is, if it is not imported in the same tax year, the department will not collect it. In the future, Section 41 of the Revenue Code will be amended to charge tax in the year in which income occurs abroad immediately. Whether or not the money is brought into the country. however It could take 1-2 years to amend the law."
  12. According to a post on one of the other threads this has now been deferred by 1 year. i.e. Funds earned in 2023 can now be brought into Thailand in 2024 without tax liability. Can anyone else confirm this as I intend moving some cash from an off-shore investment into a bank a/c outside Thailand and then into Thailand in Jan 2024?
  13. They must have seen my post yesterday, approval arrived 8.03 this morning!
  14. Submitted mine on 3rd in the morning, rec'd automated confirmation and nothing else so far, still pending on the online system! Previous report no approval by the due date, wife went to CW to do manually, they promised her at the time it wouldn't happen again. Can't say I believe a word they say!!
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