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Fund transfer from Mr A in England to Mr B. in Thailand not a remittance and not taxable. "If it is not remitted it is not taxable in 2024" what is wrong with this statement?

I agree to most of your statements however with the exception of capital gains where the tax would climb from ZERO to over 35%! in case of 200K USD cap gains per year = maybe 300K assesable income (as losses cannot be offset). This would be a tax difference of 90.000 USD + cost of compliance per year not exactly non-existent. If however you "only" reveive a pension the impact will be minimal. I have my doubts that there are many LTR visa holders with 80K passive income that do have low capital gains. The comparision is not LTR with Non O it is rather PH or nomad lifestyle vs TH.

No one knows for sure, besides some people who claim to know. My guess is no.

An english dictionary does not help at all as I am sure the tax code in Thailand is not written in Thai. "If the funds were sent from A to B they were remitted, ergo the funds are a remittance." this is wrong on many levels and is a simplification.

Where do you see the discrepancy? If it is not remitted it is not taxable in 2024. That is what he has stated IMHO.

Thai RD would like to tax it agreed. If I got loaned money from a relative and transmitted the loan to Thailand IMHO no tax is due. Same logic could apply with CC transaction. There are some people here who think they know for sure but this is a grey area. Al I am saying is no one knows currently and a TRD representative stating taxable income (profit part) while a tax partner stating not taxable shows exactly that.

A tax partner is stating that foreign ATM credit cards withdrawal are not assessable income, period. Pls specify the law that says it is remittance if you believe otherwise. There is some serious doubt about if it is a remittance or not.

https://youtu.be/ljy7qdhy4VU Interview with a tax professional, some interesting statements

I very much like that you mention the financial disclosure aspect! I really hate to disclose part of my finances and will only provide the needed 80K not a penny more per account segregation. However in the end they will get the CRS report and in addition every concierge in TH will see the stamp WP...

Valid point that the option is low priced with 50K, however I think there will be 99.9% no grand fathering as only remitted income is mentioned in the royal degree AFAIK.

Fully agree if you want to stay in TH below 180 days per year! I would rather stay in one country long term as I am not a travel guy. So if ww income taxation in TH will get legislated I will likely stay full year in another country.

Why do you assume I have money in a thai bank account? Stated several times this is not the case.😉 Apparently there is the option to either pay tax voluntarily or to pretend that you transfered 100% profit to TH via several ATM transactions. Not sure if that works on the thai RD side and not sure if the German RD will accept the RO 22 in the end. Was hoping that someone had already done this whole ordeal... Thanks! Thanks!

Talking about 2022 not the present or future 😉

No taxes paid in TH...

I am suggesting that there is a real possibility of that happening i.e. unremitted income will be taxable and remitted income will be taxfree. RD states explicitly "(only) remitted income is tax free". Remember one of BOI goals is to strenghten the thai economy and so they could be quite happy of forcing you to send money to Thailand. Again it would be very simple to state that the LTR visa will be providing tax shelter for all worldwide income, no matter what. BTW the same happens when a foreign company builds a power plant in the other country. The receiving state confirms that no additional taxes or levies will be implemented, otherwise no investment would take place. Germany just lost one of the cases versus a foreign power plant operator, because Germany changed the rules. I am simply amazed that a lot of people seem OK with the way they are treated and are not even posing a simple question to BOI about their potential tax bill. If BOI answers "we do not know, anything could happen" then at least everyone knows what maybe to expect. I will not apply for an LTR if the tax issue is not solved, as for me taxes are paramount in my living location. I fully understand that for other people taxes are just a side issue so each to their own. Have a good day everyone!

Thanks for your post! I am however talking about unremitted income.

Did anyone actually get their money back from the German Bundeszentralamt für Steuern when handing in a R.O. 22? Did someone manage to get a r.o. 22 without having paid TH income tax? The Bundeszentralamt has their own document they want to have filled in but Thai RD will only fill in their own R.O. 22. I still keep wondering if there really is no agent in the whole of Thailand that has some contacts within TRD so that I get a simple document stamped that I have lived 183 plus days in Thailand. Thanks!

2025 is 5 monthy away and we are talking about a 10 year visa... No offense but if a pictogram is good enough for you, there is no basis for an exchange of arguments. I agree for the rest of 2024 the LTR visa should be OK taxwise.

In my country Germany I am one of the very few asset rich and pension "poor", but I agree with you no one really knows about the distribution of wealth vs pensions but I always got the feeling on ASEAN I am the outlier and most people have a pension + some rental income from back home with cap gains a distant 3rd. I would never go above 179 days in TH if I had to pay like 50% tax on my ww income. Do not forget losses are not counted AFAIK, so you could end up paying more taxes then you actually earned in a year. In addition I doubt they would understand a US brokerage statement at least outside of BKK.

MM2H is on my radar, thanks for mentioning it! Malaysia is a very nice country, however I find the pool villa options are very limited or non existent in Malaysia so Malaysia is behind the PH on my list where to go to next.

You are correct I missed the part about most of the LTR holders being pension rich! Some pensions being exempted by DBA so people with those pensions do not care much about change of law, thanks for pointing it out!

I am fully aware of the "loss of face" issue at play here and mentioned it in one of my posts before. This is why I am thinking the "not answering" of BOI is the answer we were afraid of. As long as the issue is not solved the LTR is seriously lacking IMHO. It is like asking immigration can I enter TH with the LTR visa that I paid 50000 baht for and the answer is we do not know and we do not care to answer as you arrive in the future. What strikes me is that some posters here think that this is perfectly normal and acceptable (not you). I know fully well that every TH visa comes with the caveat that the entry is at the discretion of the IO officer 😉. In the case of the LTR visa we are not talking about a 2 week trip and 1000USD loss we are talking about planing to live 10 years abroad and paying hundred of thousands USD in taxes and having clear conditions at least when applying. I love Thailand and the interaction with BOI was pleasant but paying 50.000 Baht for a visa just to pay more tax then back home does not make economic sense.

It is not exactly a "what if" question it is a simple question if the existing 50.000 Baht LTR visa will shelter unremitted income no matter what (royal degree). Further more it is maybe the most important point of the LTR visa for most people. BOI could also answer "we do not know" which would imply there is a real risk. BTW they already answered the question for remitted incomeso it is not that they are not answering what you called a "what if" question. That they are not answering the question about unremitted income (so far) shows already that the risk is very real. Frankly I do not fully understand your post as I read into your kind answer that you do not really care if you are taxed to the hilt with 35%! on capital gains or not at all come 2025. This tax change amounts to a MINIMUM tax of about 25.000K USD p.a. in case you only have the minimum 80K USD for passive income for LTR and stay 179 days plus in TH. But maybe I am misinterpreting your post or I am overlooking something.

You can "invest" some "play" money in cambodia but not your nestegg.

BOI is not answering my email about tax exemption of unremitted income in 2025. So I guess there will be no gurantee that unremitted income will be tax free if ww taxation comes into existence. I would highly appreciate it if others were to ask BOI about tax exemption of unremitted income for LTR visa holders.