RupertIII

17 minutes ago, Jingthing said:

I have no idea. 

I do have a legal question though.
They are technically POLICE after all.

Would they have the legal right to search homes?

In theory I believe they need a search warrant. In reality.........

Is this the "revenge tax" being discussed here? https://www.aljazeera.com/economy/2025/6/4/what-is-the-revenge-tax-in-the-us-tax-bill

19 hours ago, UWEB said:

Have tried it twice, both times I have got the same answer that you have to change at first o THB to transfer out of Thailand.

I have a GBP a/c with BKK Bank and on a couple of occasions have transfered GBP to my UK health insurance company without having to convert first to THB. However this has to be done in person at either at the branch you opened the a/c at or HO. I was hoping to be able to transfer direct from my online a/c but I would then, so I was told, have to convert first into THB.

12 hours ago, Jingthing said:

"ONLY CAPITAL FOR BANK ACCOUNTS OR CASH ACCOUNTS" 

"YOU CAN NOT APPLY THIS FOR INVESTMENTS OR PENSIONS"

Am I correct in assuming that an offshore investment, equities, sold in 23, transferred to Wise in the UK and then remitted to Thailand in 24 is not assessable?

What is the problem, why do you require this confirmation? The only reason I can think of is for Thai tax purposes, if so I would think the the TRD should by fully aware that UK state pensions do not increase in Thailand, if not they should be.

1 hour ago, blaze master said:

 

Not sure why you got cry baby emojis to this truth.

 

If it wasn't why was the policy backed by the courts.

I recall reading on AN that in Court it was proven that it was against Thai law based on discrimination by nationality (I believe this is also against international law) but the judgement was that as he was a foreigner he could afford the inflated price plus it was to Thailand's benefit.

Thai justice!

2 hours ago, Purdey said:

I am interested to know how one finds out what locals pay as opposed to foreigners. Is there a dual language price list?

A few yeas back I was referred by my hospital to another hospital for a test. My wife Thai phoned the second hospital asking for a price without mentioning who it was for, quoted THB15,000.

At the hospital waiting room a nurse approached us just to let me know the cost is THB25000! I think after a lot of haggling and toing and froing by the nurse I believe it did come down somewhat although with all the other bits they manage to add on not sure how much I actually paid for the test.

25 minutes ago, Eudaimonia said:

 

PwC has published an updated Thai Tax 2024/25 Booklet. A valuable free resource.

 

https://www.pwc.com/th/en/tax/thai-tax-booklet-2024.html

Thanks for that.

It was, I think, Mike Lister in one of the forums stated that expenses of up to 50%, subject to a max 100K, could be deducted against income which, at the time, I took to include pension income.

However the above booklet quotes:-

The amount of personal expenses that may be deducted depends on
the category of assessable income, as follows:
• Income under the above categories of assessable income (1) and
(2), including goodwill, copyright and other rights under (3), a
deduction of 50% is allowed subject to a maximum of Baht
100,000.
• Income under (5), the rates of deduction vary from 10% to 30%
depending on the type of rented property.
• Income under (6), (7) and (8), the rates of deduction vary from
30% to 60% depending on the type of income or type of business.

Income under categories 1, 2, and 3 are listed as:-

Assessable income is classified into eight categories:
1. Salaries and wages (including income from stock options, house
rent allowance and other fringe benefits)
2. Hire of work, office of employment or service rendered
3. Goodwill, copyright, franchise, patent, other rights, annuity, etc.

Could any of these be interpreted as pension, possibly other fringe benefits?

I am wondering if anyone has ever been put this to the test by previously successfully submitting a return including this expense deduction  in respect of pension income? 

20 minutes ago, ukrules said:

To me it means if you were tax resident in 2024 and earned foreign sourced income but remitted zero and then became non resident in 2025 and even subsequent years and at some point remit some or all of it they will tax you in the year of remittance regardless of whether you are a tax resident during the year the year of remittance which would obviously be a future year.

 

The liability is triggered based on residency at the time of making what I'm going to call 'the capital gain'.

 

This is how I've been working it out  - make a load of money in a year when you're tax resident then that money is always taxable when remitted - for the rest of your life, even if you're a non resident - because it was earned when you were a resident.

 

I assume this refers only to realised capital gains, not unrealised.

51 minutes ago, richard_smith237 said:

Another silly issue - I have terrible handwriting... Its also a lot quicker for me to just type out the form on the computer and print it, rather than fill out the form directly. 

VFS would not accept a 'computer filled form' it all had to be filled out by hand, which I found somewhat odd, as it was harder to read than 'clear unambiguous font'...   I just had to re-fill out the form, not hardship, I just considered it silly.

Thanks Richard, as my handwriting is also awful nowadays was going to use the computer to complete all passport forms so lucky for me you mentioned this! 

Looking at the form for completion to pay for passport renewal it strikes me as having quite a serious security issue. It requires, amongst other info, the 3 digit security number as shown on the reverse side of the card, Anyone with access to this info could use it to clear out the a/c and having divulged the CVV number I can't imagine the bank being particularly sympathetic. Anyone had any previous issues with this?

Does anyone know if VHS Global Bangkok can offer a more secure method of payment or will they accept cash? 

Failing which I suppose the only answer is to transfer out the balance of the a/c apart from whatever the required passport fee is and then, after it the fee has been deducted, go through the hassle and cost of replacing the card.

Thanks.

21 minutes ago, chiang mai said:

I believe gross for both and then show separately the tax already paid. Your bank letter will show the right gross amount s

Thanks Chiang Mai. In any event probably better below rather than over, less hassle and bureaucracy I would guess. I believe the online bank statements also show gross and also w/h tax deducted

My bank interest payments from Thai banks has w/h deducted, my wife's, I believe, is paid gross. 

I don't want to produce an annual income for this year in excess (nor much below) of the non-taxable amount (565K in my instance) so when adding interest rec'd into the total should I use net figures for mine and gross for my wife's or net or gross for both?  I can then calculate how much I can remit from overseas just prior to year end. Thanks.

2 minutes ago, Lorry said:

BTW the  Siam Legal guy also explained, that the new rules are not law.

The law is ambiguous (this has been discussed on AN at the very beginning of all this). He said,  if the law is ambiguous it should be interpreted in the way most favorable to the tax payer. He thinks,  if the new rules are challenged in court, the tax payer would win.

 

If the tax payer is Thai.

16 minutes ago, aussienam said:

Imagine a loved one passing away to leave you inheritance? In Australia inheritance is tax-exempt. Let's say $200,000 AUD.  And I decided to bank that and keep it in Australia.  Thailand could tax me on my inheritance.  Wow.  And the money never left the Australia. A big risk is therefore having a family member, alive, who has you in their Will for a substantial inheritance and you are a Thai tax resident. You cannot predict the timing of someone's passing normally (awful to think about).

Unless it has changed very recently you are ok up to 100m THB.

The Inheritance Tax Act B.E. 2558 (2015) (“ITA”) took effect on 1^st of February 2016. It stipulates the following:

1. Inheritance Tax

a. Tax Base

The inheritance tax base shall be calculated from the inheritance, which an inheritor received from each testator, whether it is received once or several times, above 100 Million THB. (Section 12, ITA). The value of the inheritance subject to tax means the value of the asset received as an inheritance offset by the liabilities inherited.

The tax is levied on inheritors who are:

1.    Thai individuals or Thai juristic persons or foreign individuals who are resident in Thailand according to the immigration law, which inheriting assets located in Thailand and outside the country.

2.    Foreign individuals or foreign juristic persons, which inherit assets located in Thailand. (Section 11, ITA)

The spouse of the testator is exempted from inheritance tax. (Section 3(2), ITA)

Foreigners who are resident in Thailand, shall be liable to pay Inheritance Tax in the portion which exceed 100 million THB, calculated from the inherited assets in Thailand and foreign countries. Foreigner who are non-resident in Thailand, shall be liable to pay Inheritance Tax in the portion which exceed 100 million THB, calculated from only inheriting asset in Thailand.

The inheritance tax rate is 10%, except in the case of heirs who are ascendants or descendants of the testator, where the rate is 5%. Legacies received by the spouse of a testator are exempt from the tax.

The inheritance tax applies to registered assets, including residential properties, land, vehicles, bonds, equities, and deposits at financial institutions. (Section 14, ITA)

29 minutes ago, Thailand J said:

Happy to see this.

This is new.

If this is true, plus the DTA which exempts US SSA benefits, and my LTR visa, I will have no tax to pay here.

I picked this up some time ago and assumed that a mutual fund was the USA term for an investment fund. However not so in Thailand - Mutual fund means a body of persons who participate in a fund that is established and operated by an investment management company for a project under the law governing the control of trading activities that affect public safety and welfare.

You can find out further from https://www.rd.go.th/english/37749.html#section40 and search for mutual in your browser.

43 minutes ago, KhunHeineken said:

Another one to consider is medical.  One could have a medical episode that require immediate major medical intervention.  It could cost hundreds of thousands of baht, or into the millions.  The money remitted to pay for it MAY attract tax the next year, thus, basically making the operation / treatment more expensive for the foreigner than the Thai. 

And don't forget that the PM under the last military coup dictated that western foreigners have to pay 3x for treatment at a Government hospital and 2x at a private hospital. For a 1 million baht treatment at a Govt hospital  and assuming a 35% tax rate that would cost a little in excess of 4.5 million!