stat

Simple question but no answer... But hey that is the answer.

So Mr Chiang Mai then please provide the law you presented as fact.

You think you speak for everyone in this forum now, interesting.

So it is a low level detail that FIFO leads to zero PIT and LIFO to having to pay PIT on every penny transfered to TH in the majority of cases with one bank account with monies from before 2024 on actual income?

There will be no answer only insults from ChinagMai.

Your own words " I don't understand why people try to overcomplicate things, the basic process is this: 1 - The Taxpayer spends time in Thailand, becomes tax resident and spends money here, derived from a potential variety of sources. 2 - The Taxpayer self determines whether the money that was spent is assessable and either files a tax return and reports the income or decides it isn't necessary. 3 - The TRD examines data from a variety of in country and potentially overseas sources and initiates investigations based on what it sees. Nowhere in the above is a step that eliminates income because it's too difficult to determine if funds are assessable or not. Nowhere in the above is a step that eliminates funds or people just because TRD can't immediately see all the detailed information they might want or need." You claim that the whole process of PIT is not complicated in your own post just a day ago. 24 hrs later your post: "Nobody ever suggested that there aren't unknowns and unclear issues," Lost for words here as the whole income determination depends on several unknowns such as the accouting method.

Another wild guess presented as fact.

It is not that simple and this was pointed out to you several times. Accounting method is one of the open questions. For whatever reason you want to see everything simple and clear but it is not and you are not willing or able to answer a simple question of accounting method that is paramount to the calculation of the due income tax and the decission to stay in TH at all (for some). If you really believe you stand a fair chance in a thai tax tribunal then I do not know what to say. I

If you have ever visited a german IRS office you would think you are in the 1950s yet it was 2020 the last time I saw IRS clerks submerged in mountains of paper so I guess TH is still paper based. Best example there is no way to get a TIN by applying online.

Spot on! This is what some people here fail to understand that there are others who would pay 6 or 7 digits p.a. instead of zero tax currently.

You really seem to care more about me then I care about you 🙂 I simply answered your question why some people are concerned about thai tax changes it is because they could lose a lot of money. Why you care remains a mystery to me as most of your funds will already be taxed (rental income, pensions etc) somewhere else so Th taxes do not make any difference. Why do you feel the need to insult people who have more money then yourself? What would you think of me if I insulted you about not having any investment income? Bad style my friend. "So exactly why you even bother to log onto this thread, especially given that you live full time over 8,500 kms away. is extraordinary, to say the least!" Also you wrote" did a lot of my tax planning over twenty years ago, just before I moved to Thailand and whilst I was still earning income from work." The decission where I move next is important to me and a lot of my clients. Only a complete fool would move to another country without following closely the changes in tax law BEFORE they moved. Can you understand this?

I fully agree. The story about the Thais loughing reminds me of the Germans back in the day when interest income became taxable for the first time in Germany. Everyone had a good lough and simply moved their account to Luxemburg. Years later they all got busted and paid a hefty toll, some went to jail like Boris Becker, Hoeness, Zumwinkel etc.

You fail to understand that for some (not for me) the risk of being taxed on ww income is in the Millions of USD. If I look at the Excel sheet you provided with your income and possible tax payment, frankly I would not bother to spend more then 1 hour per week in this thread, agreed.

Good to know that you know where it is in this thread, that really helps a lot. Will keep this in mind if ever you have question I could answer.

Ok I stand to be corrected, can you or the OP pls elaborate on the circumstances why he was audited in the first place?

This forum is also about the real life impacts of the new law and in the real world there might be a big difference. It could even happen that they deem ATM withdrawals tax free in principal or turn a blind eye like they did with the income remitted in the same year clause. I never heard of any tax audit that checked if really the income was from another year.

Anyway only the gain or income part is taxable on the withdrawal. So if you transfer 200K USD from a loss making trade the tax rate is supposedly zero if TRD accepts your paper work. Same for funds from before 2024 etc or income that has already been taxed.

This is very interesting and thanks for posting it! Could you elaborate if the accounting method they used was mandatory or up to debate? Usually there is no withholding tax on interest on an offshore account or for that matter not even Germany has a witholding tax on interest, so how come you paid wht? Again much obliged because the whole thing will be about the accounting method at least for the majority of people. Why was there an audit in the first please if you do not mind me asking.

Uk dividends come without a withholding tax, one of the few countries without WHT like Singapore, Ireland and some Aussie shares.

I am not allowed to post sources in German here that confirm my statement, sorry.

Just try to make sure you do not remit the German gov. pension to TH. Best keep the pension aside in a different account if possible. So as long as they do not change to ww taxation you should be tax free. I do not know anything about the other pensions you mentioned, sorry.

TH has currently the right to tax the gov. pension and I assume they will IF you remit to TH. Are you getting gov. pension or company pension? The German IRS will sometimes try to tax all pensions but when you write to the German IRS in Neubrandenburg that deals with all expats they will relent in the end. That was the consensus of several German expats I dealt with. Do only contact German IRS if they already tax you 😉

German gov. pensions are not taxed in Germany and are supposed to be taxed in TH, but TH never used its right up to now. I know numerous people that have not been taxed neither in GER nor in TH in the past. Anyway the German gov. penion was/is paid to a high percentage out of already taxed income (was changed in 2005) so basically you are getting back the money you have paid 30 years ago.

For example the German government pension is taxable and asseable in Thailand according to DTA, so IMHO a lot of people are over 560K per year, maybe not in the case of us or uk penions agreed. There was a respectable German YT who reported that no taxes will be levied for holders of the Elite Visa.

This is also the way I understand it. Reminds me of the power of discretion of the IO officer that could deny entry even if you had a perfectly valid visa. If the wording is applied correctly one should always get the exemption as long as one has enough income 80K USD per year so SHOULD be fine I hope.