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If you do not have any money, Germany is the place to be, if you have money you pay taxes big time.

Pls elaborate how you did a thai tax return in 15 minutes and if any remitted income was part of it. For some reason you did not like my inital post so I rephrase that you do not get offended every time I question a post of yours.

There are quite a lot of (european) countries that tax worldwide income even if you are not a citizen or "full" resident, actually in this part of the world it is the norm. However as long as there are other options taxwise in Asia TH will lose out on the "rich" expats. As usually Germany takes the cake as from the first second you want to stay for longer then 3 Months in GER or have an abode BAM you pay German taxes on every penny of your ww income.

If you stayed in TH until now you are already a tax resident for 2024 and fully liable to comply with the tax laws. So any planing needs to have been done by now

Apparently you were in the right part of governement. Usually Parkinson's law applies: Parkinson's law can refer to either of two observations, published in 1955 by the naval historian C. Northcote Parkinson as an essay in The Economist:[1] "work expands so as to fill the time available for its completion", the number of workers within public administration, bureaucracy or officialdom tends to grow, regardless of the amount of work to be done. This was attributed mainly to two factors: that officials want subordinates, not rivals, and that officials make work for each other. The first paragraph of the essay mentioned the first meaning above as a "commonplace observation", and the rest of the essay was devoted to the latter observation, terming it "Parkinson's Law".

Only true if you do not have any income or IRA account or etc...

It is fairly obvious why no official memorandum will be put out by the big 4 stating that there is no need for a tax declaration. To be on the safe side To generate more income for the company

This reminds me of my home country Germany where the first thing you get as a new born is a letter with your tax-ID. 2-5 days after you are born you are already in the tax system, the tax ID will stay active even 10 years after your death. Thailand the land of the free, at least until now.

Thx for your post! Do you get any interest on your deposit or can you do any brokerage with your deposit? Thanks!

If ww income tax would come into effect I would not live in TH anymore ever and I think a lot of "asset rich" LTR guys would do the same (in case LTR is not sheltering from PIT).

There is no such thing as evidence based bias... Because if your finding is based only on evidence it is not biased.

Valid point, that is a plus for filing. However you increase the risk of being audited in the 3 years and you would have to spend a great amount of time and money on filing.

If you think that you do not have confirmation bias then you have not understood the concept. Every human being has a confirmation bias (me included of course) "The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Tolstoy NB: You would be the intelligent man in this analogy

Tax consultancies can never be cought on the wrong side of the law, so they will always tell you "does not work; it not allowed, you must file" etc. The key question to ask is what would you do if you were in my shoes? I agree with you however there is a risk in not filling but apparently the draconian fine of 2000 Baht is the max you could get if I am not mistaken. So it would make perfect sense (current knowledge) to not file. For 2000 Baht I would work half an hour 😉 BTW: Confirmation bias works in both ways, me included. As long as ww taxation (without remittance to TH) is off the table I think for people who can structure their remittance and send money from pre 2024 all is swell.

Everyone is paying taxes already in the form of vat and other taxes.

Maybe TRD wants lot of tax declaration even when zero taxes have to be paid. TRD bigwigs can then hire new people. The more people they command, the more important they are. Immigration is another example where things get complicated to the absurd in order to justify more people working in immigration. In the end we both do not know.

Thanks for posting this document! The conditions mentioned seemed to be straightforward and easy (having an LTR visa that is still valid etc). However it is also stated that you would have to file an income tax statement. I have no idea how to fill in a thai tax statement that encompasses several accounts with highly complex financial instruments such as futures, options, capital changes etc. Maybe this income is not reportable anyway as it will not be remitted to Thailand anyway. Question to the guys with a WP LTR: Did you file an income tax statement? Did you file all zeros because of no or low remittance? Thanks!

Apologies thankfully accepted! I have also monies from before 2024 but the declaration and sorting out could be a nightmare or it could be very easy (I suspect the latter).

Thanks for your post! Can anyone clarify in simple words what rules, procedures and conditions need to be met in order to have foreign investment income be tax exempted as an LTR visa holder? I fear you are in the right and TRD can change the tax exemption of the LTR if they want to without canceling the Royal Degree. I have absolutely no idea if they want to.

If you suceed in obtaining a tax ID online pls let us know if it is possible, much obliged!

Please ask BOI and or TRD about this. I highly doubt you will get an answer but then you know that there is no real gurantee. I agree the royal decree (seems to) exempt remitted income, but what about non remitted income? The final arbiter is TRD, even according to BOI.

You are correct the BOI statement has at least the one error in it that you pointed out! I agree that TRD has the final word on this but I was highly criticized for mentioning this some days ago and was pointed to the (possible) tax exemption by the royal degree (again today). Apparently the tax exemption could be only wishful thinking by all of us, me included. Anyway I would hope that when a tax exemption is proclaimed on an official governement website for the LTR Visa, all relevant departments including the TRD have been involved and agreed beforehand. Maybe they have been and now things have changed. I strongly believe that the tax exemption should be valid for the complete duration of the visa i.e. 10 years as promised. I sincerly hope that more people inquire BOI and TRD about the tax exemption status, so that we get an answer, even if the answer is BOI does not know if and which monies will be taxed. This would help the LTR holders to decide if they want to stay 180 days plus in Thailand, how to structure their remittances and also help the potential applicants to decide if they want to apply for the LTR visa. Guys I am hoping for all of us that I am wrong and that it was just one person with BOI who missunderstood the royal degree .

I could not believe it myself that is what BOI is posting I copy and pasted it.

Did you bother to follow the link and read for yourself? How can I be wrong if I am relaying information provided by BOI via FB?

Answer on Facebook from BOI to a question (not mine) "LTR Long-term Resident Visa Dave Goodman If you stay in Thailand for 180 days or more in tax year and bring income into the country, you are considered a tax resident and are required to file an individual income tax return. Additionally, if you generate income in Thailand, regardless of your residency status, you are also required to file an individual income tax return. For foreign-sourced income, there may be tax exemptions available under LTR visa benefits. While LTR visa already provides this exemption, we recommend confirming your eligibility with the Revenue Department. Please contact them directly for detailed information and verification, as they have the final authority to grant these exemptions." https://www.facebook.com/LTRVisaThailand under comments So basically BOI is saying they do not have any (final) authority regarding tax exemption that is the way I read it. I am really suprised as I thought at least the 2024 foreign income should be safe under any circumstances via the royal degree. According to the BOI you are required to file a tax return if you transfer monies to TH while being a tax resident even if you have an LTR! Don't shoot the messenger🫣