KhunHeineken

I am well aware of the occupations reserved for Thai's only. A lot of those occupations are 300 baht minimum wage jobs. I would hardly call such a thing an "investment" that makes "good money."

That's great for your kids, when you pass, but what about using the proceeds in Thailand? Either some of the sale money, or the interest earned? It becomes remitted funds.

Looks like just a flat fee income tax deduction.

Many use the hawala banking system. https://www.investopedia.com/terms/h/hawala.asp Widely used in many South East Asian countries, also western countries with illegal immigrants. You really need to stop looking at effort and manpower and infrastructure reasons as to why this will not come in. There's money involved, the Thai's will get something in place to get that money flowing.

So do I, but how does using a VPN get around immigration records that show you are not in the country?

And if what you tell your bank doesn't match up with immigration records???????? You just made a false declaration. Those days are coming to an end.

I mentioned in a few other posts, for many, maybe it's like the Certificate of Residence. It's supposed to be free, but you pay 300 baht for it. If you have to pay tax, then you pay tax, but if you don't have to pay tax, I would not be surprised if you have to pay 300, 500, or 1000 baht for a document from the TRD for your annual extension. Of course, there will be no receipt issued for that payment. I'm sure you know what I mean. So, they make money from the taxed, and money from the untaxed. This is small money for each foreigner, even a pensioner, but a nice backhander for the TRD, in the same way immigration get the backhanders for the Certificate of Residence, and through agents for people who don't have the 800k. . Is it little wonder the TRD want to put their snout in the trough in the same way? Maybe we are all reading too much into it, and that's all the system will be. Pay X amount for the TRD document in order to get your extension. For high net worth Thai's, they may actually apply the law.

The proceeds from the sale of the UK property earns interest. That interest is "income" and you are living overseas. I wish you well on your search. There's a short list of countries that many are considering for either a permanent move, or a 6 months of the year relocation.

If it becomes a loophole for many, they will surely close it.

So, you believe they will walk away from all that money, and lose "face." I disagree with you, and have given my reasons, but I really do hope you are right.

If it all goes ahead, the property market here will tank, and those who either can't afford the tax bill to stay, or want to sell up and leave in order to pay the tax bill will not be able to liquidate without a fire sale and accepting heavily losses.

Interesting theory. We all hope it just goes away, but do you really think it will? There's a lot of money at stake.

As I have said, TIT, and anything is possible. For all we know, there could be another military coup next week. Thailand is unstable, and foreigners have no rights. I have often said, the 1 year retirement visa / extension is nothing more than a 12 month tourist visa. It gives you no more rights than someone on a 30 day visa exemption stamp. If the Thai government says jump, foreigners ask how high. They will give you a tax bill, pay it, or no extension. Try to leave Thailand without paying it, and it will flag up at the airport. This is not scaremongering. We have seen it for tourists who have trashed hotel rooms and head to the airport. They are detained until they pay for the damage.

You have to produce a bank document for the 800k to immigration. What's stopping the TRD demanding you show them a bank document showing the total of deposits in your bank account/s for the calendar year, and based on those totals, minus some allowances, is what you pay in tax in order for them to give you the document you need for your extension? I know everyone wants to go on about what's "assessable" income, savings etc etc blah blah. They will not care because they haven't got a clue. They will throw a figure at you, based on bank deposits. Pay it, or no extension. They know foreigners will pay. It will be messy, possibly unjust for some, and some tax evasion for others, but they will make money out of it, whereas, they never did before, and that's all they care about, the extra money coming in. TIT.

Probably a greedy Minister decided to finally milk the cash cow that's been in the paddock for all these years.

Well said. Those thinking of purchasing property here should reconsider their position. You may only get to live in it for 179 days of the year, or, pay a lot of tax and receive absolutely zero back in public services for the money.

My opinion on it is a foreigner will need to make contact with the TRD between 1st Jan and 31st March for paper returns, and the 8th April for online returns. You will have to declare your income / remittances. You will then pay your tax bill, if you have one, and then the TRD will issue a document. You will need this document for your annual extension. I envisage you will also need this document to leave Thailand if one has been here for more than 180 days in the calendar year. I have posted airports and boarders may have a "tax desk" similar to the "overstay desk" where you will have to pay before you can leave, but this is for another thread. You don't produce a document from the TRD, no extension granted. You don't seek an extension because you are leaving Thailand, you may be directed to the tax desk at the airport because immigration will know you are a resident of Thailand for tax purposes. You may not pay the right amount of tax, but they will make you pay something, and that's all this is about. Just another earner for them. I also expect "agents" will offer to deal with the TRD as well.

I agree. They'll bring something in that turns a baht, even if it's an absolute mess and causes chaos. They'll tweak it by making up the rules as they go along, but to totally back flip on it would mean walking away from a lot of money, and losing a lot of "face." In my opinion, something's coming around the corner. Best be prepared for it with some options.

Good to see you have a Plan B. If the tax forces you to become a non resident of Thailand for tax purposes, what countries have you considered for the other 6 months of the year?

So, the pig farm was such a great investment you didn't bother getting a work permit. Yes, back on topic. A foreigner should never use the words "investment" and "Thailand" the same sentence. Eg. your pig farm.

If that's the case, why the need to "liquidate?" Your word, not mine. If it's not much, leave it here. Walk away. Right? As for the rest of your post, no, I am not lying. It's in your posts.

I have a feeling we will see Thailand, a developing nation, try to emulate the established tax systems of developed western nations, in too quicker time, and there will be chaos. That said, in my opinion, foreigners will have to pay something. It may not be the correct amount of tax, but foreigners will have to pay some tax. That's Thailand. Time will tell.

Some call pig and rice farms in Issan an "investment." No need to look at the Fed and China.

As another member suggests, surely you would have made more investing that money in Thailand.

The IP address is not the issue. I can VPN back to my own house in Australia. It's where the transfers are going, and who to. Also, possibly for Australians in the near future, in a similar way to Thailand, immigration will know an Australian is outside of Australia for 183 days and inform the Australian Tax Office. As discussed in the Australia forum, those chances are on their way.