stat

Fully agree" could potentially be taxable" but far from certain as was stated before. Maybe also likely to be taxed ,but all depends on the wording in the original thai law and the implementation of the law by TRD. Reading several articles TRD seems to be hellbend to increase the tax take. Is a credit card a different beast then a debit card (credit involved)? We will see, IMHO therefore a transaction with a credit card is "safer" then a bank transfer because a transfer seems to be 99.99% to be a remittance.

https://www.thaiexaminer.com/thai-news-foreigners/2024/07/15/economy-in-bad-shape-as-revenue-department-ramps-up-demands-for-more-taxpayers-to-pay-up/ Here the link to the article in the Thaiexaminer.

Same topic but I read it from another source that examines 🙂 Thai news, thanks!

Again it is not clear cut if an ATM transaction is considered a remittance. If you accuse another forum member to commit tax avoidance you are overstepping, as there are currently diverging views.

Some people chose their living place according to the tax laws so it makes perfect sense to discuss other options.

It it not yet decided if an ATM withdrawal is a remittance. At least one tax partner stated it is not a remittance. So therefore Mike Lister statement is wrong.

According to a report in a newspaper TRD has send out letters to 100.000 people and entities to report to pay tax . Sp apparently they have not filed for taxes before. It is my understanding that links are not allowed here. "Economy in bad shape as the Revenue Department ramps up demands for more taxpayers to pay up"

Great info! Problems start to arise on numerous issues such as tax certificates need to be from foreign tax authority. If you receive a dividend you simply do not get a tax certificate from the tax authority, but from the bank only (withholding tax). If that leaflet is everything they provide good riddance we are in some deep s... I know this is Thailand so I am sure this is all we will get. Explanation on a primary school level with pictures instead of a definition of the allowed accounting standards.

I cannot remember how many times I heard the slogan Thailand will become the hub for (fill in anything). Apparently the Thai government thinks just aspiring to something is enough and all other countries stand back in awe 🙂

I tend to agree but then TiT. Maybe they decide they would get much more in taxes and only a hadfull of expats will leave. Our western logic does not really work in TH. BTW France also imposed a 75% income tax only to realise later that it was a mistake

Apparently you do not care for the difference between whining and careful consideration in a huge financial decission. Also you are making lots of assumptions which are just that assumptions and wrong in my case. Why would I pay taxes in TH if other countries offer me to be tax free? NB: I have read my Incerto series which I am sure you have not 😉

English speakers are paying more taxes in Thailand then a million of laotian construction worker.

My home country does provide the tax declaration in English. Kind of funny that I have to explain to an UK expat that english is the No1 language.

Because "those people" questioning the tax exempt staus think about getting an LTR 😉. I will only get an LTR if the tax exemption is valid and ideally confirmed by TRD (not much hope though this will happen). Did you kindly ask BOI explicitly if TRD has confirmed their view and or why their offical FB page states all is dependant on TRD? I know loss of face issue etc but this is business we are talking about serious money. Thanks!

IMHO BOI is not checking mid year if you still have 80K pension. AFAIK they will check after 5 years again and then maybe only the last year. Do not know about Health insurance but I would assume the same. I understand that the folks who already have the LTR do not want to hear any doubts about the tax exemption status but there also the folks like me who are thinking about getting an LTR. BTW even if you have an LTR you should be very interested in any developments for example if you have capital income and can "time" your income as in the case of capital gains. It strikes me as odd that some people get the feedback from individual BOI staff that all is swell but the "official" FB posts and the written responses are somehow elusive. Nevertheless the BOI page is very sure about the tax exempt status.

Thx for asking the question! Did one of you guys ask why on the internet they are not stating the same and are instead pointing to the TRD?

Thanks for the info! Apparently BOI themselfes now think differently about tax exemption. When reading the "exemption" the question come to my mind what about investment income? It is not mentioned at all in the RD. Again I hope you are right and everything is exempt!

What BOI is basically saying is that the exemption they are posting on their website is worth nada as it is not up to BOI do decide anything regarding PIT. So either TRD is posting out a blanket statement regarding tax exemption or there is no guranteed tax exemption for LTR holders just a higher chance that maybe remitted income is tax exempt. I hope I am wrong.

Spot on! In Germany there are very few tax consultants who understand brokerage accounts and know the rules. Thailand does not even have rules regarding treatment of complicated instruments/accounting methods which could be good or bad.

You seem to have a lot of times at your hands writting long posts without answering a simple question. Reminds of a politician that talks for hours without saying anything.

I have never encountered a single German pensioner that paid taxes on their government pension so far. It was all "covered" under the assumption that they would transfer the monies in another year. I have heard numerous accounts (hearsay) that they were told to leave the premise by TRD if they tried to file a tax declaration. Apparently things (might) change in 2024. https://www.anwalt.de/rechtstipps/steuerreform-in-thailand-sind-deutsche-rentner-betroffen-221715.html

Thanks for your post! All would be swell if TRD accepts that your remittance is savings only! However if they change to ww income things would look close to impossible to declare correctly in case of a brokerage account with lots of complicated trades and capital messures.

Th for some reason does not tax German government pension. In the DTA, TH has the sole right to tax, but they don't do it.

Did they demand any proof? I guess it was not a mingled account? Thanks!

I posted a friendly question. Every time someone has a question that differs from your view you call their post argumentative. It seems obvious that your tax declaration was fairly simple and so is different from most other people here. When you post questionable advise you get a feedback. If you lack arguments you write something unrelated to the inital argument. You still behave as if you are the absolute authority on anything tax related for whatever reason.