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Smart people who tell the truth are not fun at parties, but fun to talk to. 🙂

Fully agree! Paying 20K USD in taxes while PH charges nothing is not a good deal.

Utter nightmare! They will never understand a crs report and why you have so much money and spend so little of it... Setting my sails for the Philippines, however not sure if I will like it there.

I am a big fan of low tax taxes! However thai taxes are still way lower then in the rest of the world especially as they "only" tax your remitance.

Swiss law and Thai law however can and will have opposing views about residency and neither country does care what the others view is. For example Germany stipulates 1 day with an abode in GER and you are liable to pay worldwide taxes. Why should anybody other then swiss care for how the swiss determine residency? What is the link with the thai law? There is none sorry.

Happy for you that you think you have a clear idea about taxes in general and especially about the new directive! You are the only one then who knows what will happen and I am happy that Thai RD will not tax your remittance.

You can of course wait till you receive a final notice of how much tax you have to pay in 2025.

There is no worldwide rule... Every country has its own laws. So your focal point of life as a tie breaker is not correct.

They do not have to figure out anyting. They just state everyting you remit is taxable. You have to prove that everything has been taxed. Thai RD will only accept an affidavit signed by the pope and your head of state. Apparently you have never dealt with a tax authority in any country, no offense my friend.

It does not solve the problem how to prove which funds have been taxed and which have not. As an example pls find attached a German Einkommensteuerbescheid. How will Somchai determine which funds have been taxed? Not even a German Wirtschaftsprüfer could tell because there are only cummulated resulted and taxes are not on an account or financial instrument level. Never mind that Somchai does not speak German or has the faintest idea of German tax law. As cyclist has correctly stated it is next to impossible to prove which funds have been taxed. However Thai RD could make some amends like in MY that if you ever had 100K USD in taxed income that would suffice to bring in 100K tax free. Einkommensteuerbescheid_2019.pdf

https://www.thaiexaminer.com/thai-news-foreigners/2023/11/04/tax-change-for-expats-living-in-thailand/

For Mike Lister: Ok you we can agree peanuts in this case but it stretches throughout the thai economy. Claiming one has never seen dual pricing and living in LOS is weird though.

Sir why you post in a thread that you want to be closed?

you must japanese then. EUR is 3.4% at a reputable brokerage over 10K ... But agreed if something in the area of 20K USD no biggie. Just do a quick calculation and then decide.

Do not forget that you lose interest while your money does not earn income in TH instaead of 5% in USD funds

Taxable ONLY WHEN REMITTED. You can make a lot of money on interest and not transfer to Thailand and do not have to pay a penny in TH.

The problem remains if the government will also save "the farangs" if push comes to shove. My guess is no.

Thanks for your post! I was talking about additional 5K USD financial needs to relocate instead of staying in TH the whole year. While you live somewhere else you do spend your money in the other country NOT in TH. Hard to understand huh bike lover? For the rest of us do not feed the trolls i.e. a certain guy who pretends to have a bike. PS: Cyclict save your breath you are on ignore since ages but I have to add citations also. Talk to the hand you know the drill I am sure.

Trust me on this there are some rich expats for this specific reason in TH. However I had to google Nut street so different clientele then 🙂

Glad we are on the same page now. Yes MY and TH will apparently start taxing remitted income only. So for remitted income there should "only" be the differnence in tax brackets. Glad you mentioned the 40 year old tax declarations. This of course would be a big plus.

There are expats with 7 figures investment income per year who are way better off traveling which will cost them 5K USD per year more instead of paying 300K USD in taxes. And now pls no comment if one would have that amount of income etc, thx!

https://www.ey.com/en_my/tax-alerts/tax-treatment-of-income-that-is-received-from-outside-malaysia#:~:text=With this development%2C a flat,in Malaysia by Malaysian residents. If you have a source stating that no foreign income will be taxed in MY pls let us know, thanks! My understanding is that MY will or has started to tax foreign income, but I am happy to learn otherwise.

To my understanding Malaysia will start to tax your pension as well... If possible just do not transfer your pension to Thailand and keep it offshore and transfer other monies.

According to several sources you would pay taxes on remittance in Malaysia then instead of Thailand. What is it you hope to gain? One tax year out of TH and then transfer 5 years worth of monies? I would rather spend 170 days in each country and the rest in a 3rd country. You do not need a tax certificate to circumvent TH taxes just staying below 180 is sufficient.

According to the current law (including the new directive from 01.01.2024) you are not a tax resident in TH if you are not in TH for more then 180 days in a calendar year, so no tax payment on remitted funds in that year and no payment on those transferred funds in any future year (if law will not be changed again in the future).