All this system was initially developed to oblige the Thai citizens having revenue abroad to declare it and pay tax on it. That was a fair move looking at the very low number of tax payers in Thailand. Nevertheless the real rich have organized themselves via foreign companies or financial arrangement and they will pay ZERO additional tax. We, long term expats will be the collateral damages of this law. Based upon what I could identify with my tax consultant, I will pay 2.5 times more tax than in my mother country. Although there is a no double taxing agreement with my country of origin, I will have to pay my full tax in advance here and HOPE to be reimbursed of the difference by the RD. I say I'm hoping because after 10 years in Thailand I know how easy they are with getting the money and how difficult they also are to give it back. So I expect an administrative nightmare and never ending battles to get my money back. I just believe this law will be voted and enforced via two easy control ways. Immigration with visas and exiting the country only if you have a tax declaration, law which already exists and could be applied in one day. We already had the insurance on OA visas, the forthcoming one on O visas, the visa types revision this year end etc...etc....This without speaking about the various costs in tax advisors, attorneys etc etc...No way to spend a fortune living in two countries for 6 months or any other headache...
I have worked hard to get what I have and there is no way to have a never ending Damocles sword over my head asking myself what will be the next hurdles in whatever. I love Thailand but I above all love my retirement peace of mind. So my decision is made, I will leave the country soon. I'm just sorry for the people who have families there or cannot afford changing country, they will be the real victim of an idiot system thought by idiot people. And all this for not getting a single additional right in exchange...
It wont change the world for Thailand but you will not get a single penny from me anymore.