stat

Even if translated not sure if they will accept it, as a German tax document is very complicated and even for a native speaker and tax professional like me difficult to understand if you do not know where each line item came from and what it entails. For example capital profit will be in different line items and charged with losses from previous years etc.

It was and is my understanding that capital gains will be counted towards the 80K and this was confirmed by BOI. However I have no idea if they will accept my documents, especially the ones coming from a German bank (in German). Translation and notarization can be very expensive. In continental Europe there are no pension funds similar to a 401K plan as only the anglo saxons "understand" the compounding of interest and working of free market companies. For your typical German the stock market is just a casino where you are bound to lose everything, therefore no 401K plans. However in the last 5-10 years this is changing with the younger folks.

I explictly asked them if bank statements would be OK, their answer was we will have to see, so I guess up to BOI . Also in my country Germany cap gains, dividends etc do not show in my tax return if from a German bank. It would be interesting to know if they accept an abundance of monies i.e. 1-3 Millions Plus USD as enough, even if you can only show 60K USD passive income as this video with a BOI official suggested at 14:05 following. She stressed it should be in an 401K plan but there is no such thing in a lot of countries. Any experiences? Thanks!

There is always the option to self insure and prove 100K USD in a bank account if unable to get a health insurance. Only recommended in some cases IMHO.

So what exactly do you propose instead? Using the malay ringit, russian ruble etc? You are always at risk from the issuing government. EUR and USD appear to be the safest hand in terms of usability. There is a risk even in those currencies.

Is is possible to get the LTR visa as an evisa for a German i.e. without visiting a consulate or BOI office? Thanks!

I agree, highly unlikely that a withholding will be implemented on short notice.

I was talking German cc withdrawing from Thai ATM. There is a very good thread here at Aseannow about creditcard withdrawals. You absolutley have to check or test your cc conditions and get a good cc, preferably mc as they offer slightly better rates then visa on average.

I was only refering to a relative easy and cheap way to get cash. They even take a photocopy of your passport which you have to sign so it is very clear who is withdrawing the money. At an ATM as a John Smith it would be far more difficult to find the one and only John Smith from Birminghan for TRD.

Most people use "bad" credit cards with 2% mark up. Only if one has the right cc it is a viable option like schwab checking account credit card or dkb cc etc. Using the cash withdrawal at the teller is the icing on the cake to not pay the 220 Baht per transaction. Always use BKK or yellow bank to get 30K baht or above per transaction if you want to use ATM.

Fully agree with Mike here! The risk may be low to get cought but if you get cought your in a real <deleted> show.

A question from my side: Are most of you guys still a tax resident in your home country? For me one of the allures of Thailand is A that I do not have to do a tax report and B that I do not have to pay any German taxes besides withholding taxes. I was under the impression that most are only liable to Thai Tax with their international income.

Exchange rates are actually not that bad with a 0% comission mastercard. I found them a bit worse compared to superrich Bangkok but at par with good cash money exchanges in the Hua Hin area also at par with money swift transfer including all swift cost. Wise and Revolut offer better rates but difficult to use their cards at ATM to get 100K Baht a month and above as they charge extra.

I used cash withdrawal at the bank counter and saved the 220 Baht per ATM transaction. Just walk up with your passport and credit card. Limit at Bangkok Bank is around 150.000 baht per transaction. NB you need a cc that does not change extra for cash withdrawal. Works like a charm at Bangkok Bank and yellow bank Krungsri usually 2-5mins if you come at the right time. Yellow bank charges a little extra if you use a Visa Card but free with Mastercard.

Like I said in my post: If they accept your documentation... No one knows, even in 2026 you could have another tax inspector and everything changes again.

Answer 1: it was my humble understanding that Thailand only wants to tax those remittances that were not taxed somewhere else. If they would accept the documentation no one knows. I agree not so clear cut in case 1 but still my gut feeling tells me no CGT. Can someone confirm that already taxed money will not be taxed again. I remember that somewhere I read if taxed already no additional tax in TH.

Immovable objects like real estate is a different beast as it is situated fixed in a country and some countries can charge whatever tax they want. CGT of shares are usually only taxed in the residence country, however dividends are taxed in the country of tax residence of the company. We simply do not have to care about share CGT calculation of other countries as it can only be an indication. As long as we do not know what accounting method TRD will use, we cannot calculate any thai CGT. If you are only tax resident in TH it is of no help to us what other countries calculate as we are not paying those taxes anyway and TRD maybe has another method. The easy solution is to have a completly segregated account that was filled with cash beginning of the year before 2024 or before one becomes Thai tax resident.

Tax resident where: in TH only, or double residence? My gut feeling: 1. No Thai CGT as you paid taxes in your home country not assesable 2.No Thai CGT not assesable 3. We will see maybe not assesable This all is heavly dependant if Thai RD accepts your documents. In case they do not, you have to pay tax.

Fully agree. On a sidenote Thailand has the right to tax german state pensions but never (at least to my knowledge) used that right for whatever reason. Germans are happy because they neither pay tax in GER nor in TH. Germany assumes that TH uses its rights but does not verify or ask.

CGT arises in the tax residence country of the individual! If you have sole residence in TH then TH CGT rules apply (some exceptions maybe for real estate i.e. house in the UK immovable object you could be liable for UK CGT I frankly do not know, no CGT in this case for a german house if I live in TH). For share transactions like you mentioned i.e. you sold german shares then no German CGT tax is applied if you are not a resident of Germany! I have been buying and selling US and UK shares my whole life without ever paying CGT in the US or UK nor have I ever seen a client that paid CGT on shares without a tax residence (exception maybe US guys that live abroad as the US taxes the ww income for its citizens even if they are not linving in the US). Maybe explain what made you think that you had to use the CGT rule of the asset home country? NB: I work as a consultant in the international tax industry

No there is no need for a different country thread. It is enough to know that Germans may have to pay and UK/US guys do most likely not have to pay and if you are Norwegian you need to check your own DTA to get an answer.

That is because the topic is very complicated. That is why Mike Lister has written the introduction to PIT for, to help people who do not want the deep dive. The thread should be for the deep dive. Cheers!

German pensions are 100% taxable by the Thai government according to the T/GER DTA. So there is no scaremongering here, at least not for Germans who represent a sizeable proportion of the expat community.

@Mike Teavee Regarding the calculation of CGT: what makes you think the TRD calculation is based on tax laws of other countries? Which country laws should be used (asset sitiu i.e. bank, nationality of owner, tax residence of owner, jurisdiction of management of the company) ? This would be an absolute first for any country tax I ever heard of. I am pretty sure TRD will (and have every right) to use their own calculation independant of other laws. If they codify their MO is another big question. My gut feeling tells me they will use Fifo but no one knows, however I am pretty sure the "tax laws of the asset" will not play into the calculation.

Just reading the heading, a question to the admins: Is it possible and does it make sense to change the heading of this thread? IMHO it shoud read "Thai government to tax all remitted income from abroad for tax residents starting 2024"