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@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"

Thanks man! This whole tax on remitted funds saga reminds of my tax professor at business school who only half jokingly said: "Any long term tax planing is futile as the laws will be changing every year"🙂

There is zero! indication that Thailand plans to introduce a ww income tax on unremitted income. ZERO!

Your are missing some vital distinctions. All the examples have to pay TH PIT no matter what they do with their money afterwards.

Of course one can not be liable for PIT, as seen by the numerous examples given in the press who only did not pass as gifts because there was a 2 year gap between wedding and gift. Your arguments are non existing as the other loophole remitting earned income in another year was far bigger and no one cared for decades.

The point being made is that I received the gift beforehand in my overseas account or that my dad is actually paying the rent for HIS rented villa. I am also living in this villa (rent free) and he ocassionally plans to visit HIS rented villa. I fully agree that the landlord has to pay tax on the rental income, though.

This is a fine line and it is not up to you (or me) to decide. Sometimes it takes courts ten years to decide which is which. Just google cum/ex Germany. NB: Latin cum not the other sort

If the remittance is a gift it should not be taxible so IMHO the purpose (gift or loan or transfer) should be important to TRD, but maybe I am missing some nuances in the english language here. Thanks for clarification!

Great post, thanks for the clarification! The situation 2 is well described! I was not aware of the customary aspect , so I assume it would help to receive the gift around xmas or my birthday etc? Any ideas if 1-5 M Baht is customary and how it would be judged? I was also planing of receiving the gifts in my offshore account and then use foreign cc in Thailand. Maybe I will use Thai account but unlikely. I am still hoping for an e-wallet like GCash or other accesible for falangs in TH that I would transfer money to.

Never heard of certified account statements neither in Germany or US. All in .pdf format.

This is a very interesting topic! Let me formulate positive: **Baiting phrase removed by moderator Jim thanks for bringing this up! Pls elaborate: 1. What would it take to be designated and accepted as a gift by TRD according to your view? In my understanding if I receive 5 Mio baht in my Thai bank account designated as gift from my father that should be taxfree. But I am no expert in this area. 2. How would TRD tax the remittance beforehand? I know they could but I never heard of anything like this before. Thanks!

If possible why not gift the money from your siblings or parents? I would not feel good in gifting my wife a lot of money via transferring it to her account, neither taxwise nor otherwise if you know what I mean 😉 Rather buy here some nice stuff from time to time, just my 2 cents.

Spot on! The best we and anyone can do is risk minimisation in using as much layers of risk protection as possible. TRD can read a lot into their laws as can any RD. In Thailand you will have a very hard time to win your case in a thai court, so there is not much you can if you disagree with TRD.

Amazing that you "write" a tax guide after posting "we will follow the rules to the letter" when no foreigner is allowed to give tax advice in Thailand.

This is because you do not understand what several layers of portections entails. The more layers you have the better.

Another post from you where you do not explain why exactly gifts are not working when coming from close relatives.

Maybe you only know small retired Expats but there are others with 5M USD in the bank; I know quite a lot.

Exactly this is why IMHO you can live without tax in TH by receiving gifts and neither paying in TH or GER or any other country that does impose a gift tax on their side.

*** Off topic sniping comment removed*** TRD would need to change to law and there is no indication whatsoever this is going to happen, especially not in 2025. But then again maybe they will impose a wealth tax of 100% on ww assets on all farangs starting July first 2024. Every foreigner in the country for one day will have to pay. Maybe also applied retroactively...

Again Germany takes the cake as it taxes either the giftor or receiver. However gifts are feasible on the foreign site at least as Germany and many other countries have high limits at least to cover your daily living. (German 400 K EUR or 430K USD per 10 years if gifted by your parents)

Maybe you should mention a source for "TRD will probably set up a system to tap the broader tax base after the the following year remittance loophole has been closed". Otherwise pls label your view as gut feeling. Nothing, absolutley nothing points in the direction you mentioned. If they wanted to go to ww income they could have done that this year already.

Again nothing written about a yearly check. NADA. It was pointed out several time that to maintain your 10 year visa you must satify the requirements after 5! years. If in the meantime for whatever reason (I cannot imagine one) you get another visa your LTR visa goes up in smoke. The only thing you have to do is do a 1 year report similar to the 90 day report and this only if you have not left the country. Fairly easy I would say and very little hassle.

What makes you wonder about UNDER 180 days you are liable for tax? There is not a single law or directive. In fact the law is clear that under 180 days you are not liable for thai tax.

There must a yearly report. What makes you think there is a yearly check? Pls provide a link to the latest posts that a yearly check is due.