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If you think there will be no problems from a tax audit you have no experience whatsoever of a tax audit. All tax audits I was part of (professionally and personal) were a big surprise show where usually the parts I thought were tricky went without any problems but in other areas they "invented" problems.

The only reason I can think if that they only issued 5500 LTR visa and were hoping for a lot more.

1 M. USD needed for some of the LTR visa + 2 years 80K passive income is not middleclass according to the usual definitions neither in TH nor in the west. I do not see any reason to opt for an elite visa over a LTR visa.

Thanks for the update and corrections. I am not in this topic so I thought it was helpful and up to date. If one can chose per year Lifo or Fifo that would be great. At least they are familiar with the different accounting mechanisms on the higher echolons of TRD.

Great post! Thanks! This is the stuff and info we need!

This is an interesting question. It cannot hold true according to my western logic as it would imply once you have filled a TH tax return you would have to file until your death or until you are no longer a thai tax resident.

Interesting, so maybe we should stop using a thai credit card for grab usage.

Fully agree! However it is beyond me why they cut the price of LTR https://www.thaiembassy.com/thailand-visa/thailand-long-term-resident-ltr-visa

Remember you can (maybe) never comeback to Thailand. In addition if you have an unforseen stop over in TH somewhere in the future you may be in trouble. I would rather ensure that you receive "gifts" in 2024. But up to you and yes the risk may be minimal.

If you think this issue is solved you are sadly mistaken as the whole amount of problems will start to surface in March 2025. Thai RD will not put anything clear out as that would involve hundreds of pages which translates to work and possible loss of face. TRD is quite happy with the opaqueness for a variety of reasons.

All the banks that I know of are compliant once they are provided with the correct information from the OECD. Did you provide the OECD information? There are a lot people in the compliance department who do not have a clue and just stick to the usual process. Any bank can close the account if they wish to without any specific reason. Nothing you can do if the bank does not want to have foreign residence customers.

As long as you do not transfer a lot of money into TH, Thai RD has nothing on you legally as they only tax remittances. If you transfer money then indeed they could come after you with or without a TIN. This is why I highly recommend to not remit substantial monies in 2024 if possible.

No update to my knowledge so Point 5 still stands IMHO and was/is accepted by several banks.

5. Requirement to collect TINs Paragraph 30 of the Commentary on Section I provides that a TIN is not required to be reported with respect to a Reportable Account held by a Reportable Person with respect to whom a TIN has not been issued. Should a Financial Institution request a Reportable Person to obtain and provide a TIN, in case such Reportable Person is or may be eligible to obtain a TIN (or the functional equivalent) in its jurisdiction of residence, but is not required to obtain a TIN and has not obtained a TIN?Answer: No You are not required to get a TIN in TH and therefore the bank in your jurisdiction cannot force you to get a TIN.

There is no consensus because no one knows. They have changed the application of a law with a directive so no one knows how they will handle the 2024 tax declaration. In the past they did not care that is for sure.

Mike there is no opposing team, stop spreading conspiracy theories.

Just provide your bank with the following official document that no tin is needed for Thailand (Point 5). Worked for me with several banks. CRSno tin required.pdf

Stating that "most others members have been able to understand this" is an insult to me and Grumpy. Every member who has an other understanding then you does not understand the topic (pathetic). I am in contact with several members who severly disagree with 90% of your statements, but because of recent "events" do not dare to voice their concern.

The questions and comments from TroubleandGrumpy are very helpfull and touch the very basic problem of who has to lodge a tax return. So far you have not provided an RD link that states that. The PwC link is good and points in your direction, however there a tons of people who are a tax resident in this country and have NEVER lodged a tax return me included. PwC of course has an interest that millions of expats need to file a tax return.

No one knows currently if Lifo, Fifo or any other accounting method will be used. I would also love to know which method they intend to use but I think they are not even aware that they need to specify it.

I think capital gains should be included c) Passive or property income (interest, dividends, capital gains, rental income, goodwill, pension etc.) based on Article 41 paragraph 2 of the Revenue Code.

There is no way via CRS to "approximate your income" with the home country tax authority as CRS only provides gross proceeds.

Great exchange of ideas and risks! From a general standpoint even if we get the understanding correct how has TH RD trackrecord been in the past regarding a coherent interpretation of for example the gift tax or PIT? I have no understanding nor experience in dealing with TH RD thanks for some information.

To my understanding you are a tax resident of Cambodia after 182 days and they tax your worldwide income, so take care. There even is a country that considers you a resident after only 90 days if you are a nomad. Can't remember if it is Vietnam or Cambodia. CG Tax rate is 20% in Cambodia! https://www.aseanbriefing.com/news/cambodia-delays-capital-gains-tax-to-2024/ Watch out to burn all bridges in the UK as you may need a passport from them in the future in case you are british. Godspeed!

There is also the option of moving to the PH. Tax wise you are tax free there with your worldwide income. I cannot comment on quality of life in the phils, but taxwise it is a better solution compared to moving around as you can present your banks with a bona fide tax residency. Would love to hear from people that have made the move. I would rather not move around 3 times a year but I am a serious homebody 😉