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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.

It is where you (and I) come from but in TH it is 180 days.

So far farangs have not been screwed by the tax authorities at all! But this is maybe going to change, but still TH is a very good deal as they "only" potentially tax your remittances which in my case is very little in comparision to my worldwide capital gains and dividends. However the Philippines tax is zero so in that regard a big difference. Dealing with the RD could be a potential nightmare and show stoper at least for me.

and again the new directive could impact even a royal degree. That is what I am saying along with EVERY tax advisor. The situation is unclear. Let's hope you are in the right and LTR visa holders are exempt.

"income under section 40 of the Revenue Code derived in the previous tax year..."

Not stated in the conditions or royal degree as far as I know.

Thanks for your post! Pls provide source of: a.) LTR visa holders are exempt of taxes even if remitted to Thailand (NOT stated in LTR visa conditions, just stated income that is generated abroad) b.) Royal degree trumps all laws and directive orders (maybe yes, maybe no, maybe royal degrees change) I have no clue but apparently you do so pls elaborate. I simply care for a solution on how to live tax free in Thailand, no matter on which visa, as most of us do. Why you call it a fixation of mine is beyond me and offensive.

Missunderstanding: Where was it stated that Gift tax is an income tax? I brought gift tax up for a workaround. It might be a work around to reveice gifts from abroad in order to not pay income tax and gifts are not taxable (up to 100M).

You are correct that it is not a law but a directive, my apologies! But as mentioned in the directive, all older directives are void as is also stated by a very reputable law firm. According to the New Order, if Thai tax resident individuals derive offshore-sourced income and bring offshore-sourced income into Thailand, they will have to pay Thai personal income tax, regardless of whether such income is brought into Thailand in the calendar year of receipt or in subsequent calendar years. The New Order will apply to any taxable income that is brought into Thailand from 1 January 2024 onward. Any regulation, instruction, revenue ruling or practice which is contrary to or inconsistent with this New Order shall be repealed. It is noteworthy that if the offshore-sourced income is not a taxable income (e.g., proceeds from the sale of offshore securities or assets with no gain) or income that is exempted from Thai personal income tax under the Revenue Code, such as income from insurance, Thai tax residents will not have to pay Thai personal income tax when they bring that income into Thailand. Source: https://insightplus.bakermckenzie.com/bm/tax/thailand-offshore-sourced-income-brought-into-thailand-from-1-january-2024-onward-will-be-subject-to-thai-personal-income-tax/ Also here: 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. https://franklegaltax.com/thailands-new-tax-rules-reporting-foreign-income-for-residents/?lang=de

Nope, you are best off transferring a lot of your money into Thailand this year if you intent to stay here and are confident that you can withdraw your money later. The "gifts" should be send in later ????

This is a big big plus, however you have to transfer money inside Thailand to pay your expenses. Now how to determine if 100% of you remittance is taxable or "only" the 5% profit you made.

Thanks a lot of the link. Capital income falls under which chapter in the Thai law? I do not know It is mentioned previous tax year only. In addition as is mentioned in the new law all other laws are null and void if I remember correctly; IMHO this could imply that also a potential tax exemption in the LTR is void. However I hope you are in the right on this subject, but just can't read it out of the laws.

I am not an expert on this subject matter, but in general the gift in itself is tax free. However if you then proceed to use the funds yourself then yes this could be tax avoidance...

Pls show me the exact wording where it is stipulated that income transferred is tax exempt. It is only stated that income generated from overseas is tax exempt, no mentioning of transfered income to Thailand IMHO. Thanks!

That is what the tax code for Thailand stipulates. However you could be liable for gift tax in the other country.

I just checked about gift tax in TH. Up to 100 Million Baht in gifts that they our relatives send us we are on the safe side. That should be sufficient for most of us folks here ???? https://www.mazars.co.th/Home/Insights/Doing-Business-in-Thailand/Tax/Introduction-of-Inheritance-and-Gift-Tax

You can use cash withdrawal at the counter with BKK Bank without any 220 Baht charge. Check with your CC company some demand a 2% mark up. You can withdraw 500K baht if your bank allows it per day. Also work with yellow bank Krungsri but only for mastercard. Drawdown they make a copy of your passport so maybe a con in regards to 100% identification regarding the new law. If your name is Joe Miller on credit card it will be more diificult to identify the correct Joe Miller.

Maybe expicitly ask if income send to Thailand in the same year is exempted with LTR visa or only income generated outside TH. That is the key. Income not send to Thailand will not be taxed with any type of visa, even under the new law. Thanks!

Fully agree. The RD is not capable of handling more than i guess 1000 tax declarations from foreigen countries. If I have to submit my 500 page broker tax declarations in englishor maybe my german bank tax declarations how are they going to process it? No way they have or can find the manpower. But maybe they decide then to tax every cent of my trading revenue as a profit... Current solution should be to receive only gifts from abroad donated via a used credit card only applicable for guys that do not use the visa that demands foreigen remittances.

Still paying more vat +visa fees+ ... as 10 average thai people do pay in total taxes, so no offense but your argument does not hold up

Thanks for your post! That is the reason why I never applied for an Thai TIN. Are you in TH with a working visa?

No LTR does not change anyting as it "only" exempts income earned abroad NOT income transfered into TH.

CRS just google it...

In case of Germany correct with some exceptions.