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Man you explictly talked about the pattaya motorway so why you talk then about other motorways! In absolute terms expats pay vat like 10 or 20 thais as you spend that amount more then average thais. You seen to have a lot of time on your hands to write so much ... BTW if you enjoy paying tax move to Germany ! A whooping 70% answered they want higher taxes in a poll 2 years ago.

Before you move to Thailand or before 2024 you transfer a cash amount to a new account. Money in this account has been taxed as you lived in the jurisdiction of an DTA country. All cash balances have been taxed in your DTA jurisdiction. Again if they want to they can demand endless notarized proof of some nonsense that no one can deliver but this sceems to me the way to go forward in setting up isolated accounts with enough money for your stay. If you want to stay for several years this will be tricky and costly (opportunity costs etc).

To my understanding all the money I have as principal i.e. cash is covered by DTA as it is existing and all gains have been realized before entering Thailand and so has been taxed in my home country (cash). Different scenario is if I have the money invested in stocks then I am liable to pay income tax on my profit from these holdings. Of course they can demand some nonsense proof which I cannot deliver but in my opinion this should be a safe route.

There seems to be some confussion in this thread about how much of a remitance is taxable. It is my understanding that ONLY gains are taxed. So if I have a separate account with 40K USD in it end of 2023 NO income tax should arise if I transfer to Thailand. I am only liable for the interest on these 40K when I transmit. The main point beeing it should be an account that is filled end of 2023 and only movement of funds is to Thailand to prevent any mixture of funds. My other preferred option is to simply state that I have transmitted only very limited funds to Thailand like 10K Baht a months and withdraw the rest with cc from brother, sister, etc.

You do realize that the motorway to Pattaya is a toll motorway and so no tax money is involved? Not to mention that there was a long dispute between the German construction company and at first the Thais did not pay up and only did after they lost their case in a court. https://www.pattayamail.com/thailandnews/german-court-rules-royal-jet-doesnt-belong-to-thai-government-thai-foreign-ministry-4913 I agree taxes are necessary but again you pay (a lot of) VAT taxes and very high import taxes on a lot stuff us expats use+ Visa costs+ 10 times entrance fee at national parks etc

I think the problem could show much much later like mid 2025 when your tax report is overedue but you did not hand in one...

It is my understanding that US citizens that earn under 100K USD a year do not pay taxes to Uncle Sam, at least that is what a US guy told me.

Fully agree, however I suspect there will not be a 100% clarification before June 2024 so one has to make plans in advance. Maybe wait until march and have the plans ready to leave as the 180 days close in. Better to leave at day 170 in case you have to visit TH for some days later in the year.

"It's also worth noting that YouTube takes a cut of the revenue generated by ads, which is around 45%. So, a YouTuber with 10,000 subscribers may earn an average of $1 to $2 per thousand views. Therefore, assuming a YouTuber gets around 1000 views per video and uploads two videos per week, they could earn approximately $8 to $16 per week, or $32 to $64 per month, solely from YouTube ads. However, this is just an estimate, and the actual earnings can be lower or higher, depending on the factors mentioned above.Reed More" So really really big money to be made...????

I am glad you realized that regardless of a royal degree etc everyone COULD be in danger of having to pay taxes on every penny they ever earned before the LTR visa and maybe even after.

No one knows how this tax will be calculated exactly but I suppose if you open a separate bank account it SHOULD work. But maybe they ask where did the 100K come from...

To put the importance of the LTR Visa for Thailand in perspective. A programme by the last government which targeted one million high-spending foreigners coming to live in Thailand over 5 years by offering long-term visas to the ultra wealthy and high earners was launched in 2022. Figures released this March show that it only drew a limited response with 2,920 applicants including 195 high-net-worth individuals, 1,011 foreign retirees with a level of assets and income, 771 working executives who moved to Thailand and 943 individuals who qualified through having specialist skills or sponsored employment in Thailand. https://www.thaiexaminer.com/thai-news-foreigners/2023/09/25/calls-for-clarification-of-new-regime-income-tax-foreigners-overseas-income/

https://en.wikipedia.org/wiki/International_taxation

Article 2: In line with the issuance of this order, all existing rules, regulations, orders, responses to inquiries, or any practices that contradict or oppose the provisions laid out in Order No. 16/2023 shall be void. This directive represents a significant change in the tax obligations of residents in Thailand who earn income abroad or possess overseas assets. Affected individuals are now required to ensure that their foreign earnings are accurately reported and appropriately taxed in accordance with Thai tax laws. The order aims to enhance transparency and compliance with tax regulations among residents in Thailand who engage in international economic activities. https://franklegaltax.com/thailands-new-tax-rules-reporting-foreign-income-for-residents/?lang=de Thanks for validly pointing out that the order is not a law. However it does not change much IMHO (with the possible exception of the LTR visa) if it is a law or a directive. The end result could be that you are getting taxed on your remittance if this directive holds.

Great post pointing out a vital difference!

Thailand (up to 2023), Philippines, Malaysia,Costa Rica etc all countries with a territorial tax system.

20 Mil per family member is still enough, if you do not want to buy a top end villa or condo. Can you name a source for the 20 Mil limit gift tax, much obliged!

Vietnam taxes your capital gains as regular income, you would likely be much better off in Thailand even under the new directive.

To be honest I never understood why people bought condos here. You can never be sure that you will be allowed to take your money out of Thailand again. Granted the same applies to every country but TH strikes me as more risky then other countries, but this is just my opinion.

Interesting post! Can you elaborate pls on the 2 Million threshold, thanks!

I side with you and the probability is like 90% they will drop it altogether and 99% they will postpone at least for a year. Nevertheless I will closely follow the development.

Already posted several links before. Boi has answered and confirmed that LTR holders according to their view should be excempt from income tax, but they also stated that they were waiting for clarification from RD. Royal degrees can get changed by royal degrees, at last that is my understanding.

You get the same rate as you use your credit card inside the bank. I have done it without any problems ever. Just do not use a Visa at yellow bank or pay additional 200 Baht fee. Another plus is a higher limit if your card allows for it.

100% correct no one knows, but some people here (not you) pretend to know for sure. The BOI is just a small player vs the governement. The BOI cannot give you a guarantee at all. Now we know why they raised the cost of the elite visa; in order to sell as many elite visas before releasing this devasting blow to "rich" expats in Thailand with the effect that the elite visa will cease to be attractive to a lot of people.

I read 14 sites of tax advidors all agreed that this could change everything even for LTR visas. I already asked the BoI explicitly on income remitted, no answer yet. Pls post a source of some tax advisors staating LTR is definitly tax exempt in the future, I bet you will not come up with a single one! Already posted the exact wording of LTR and it is clearly stated income from another year is exempted. That was exempted under any visa in the past. My tax professor always said: Do not rely on planing taxes to detailled as the laws will change. Do not get me wrong I hope LTR is exempt.