beammeup

But she says "This principle taxes individuals based on their residency within the country, irrespective of whether the income is sourced domestically or internationally". So I am a little confused. Will this affect individuals or just platform(whatever that is)?

So this only affects individuals with income over 1 billion Baht?

They are not making it easy for digital nomads.

What if its from savings, and cant prove tax was paid? No visa? FFS!

Avoiding is legal, Evading is not. Therefore clarity is needed.

I think this whole thing is the New governments half harted effort to show the UN and other institutions that they are willing to go along with their global sustainability development goals. Perhaps to drum up new global investment to Thailand, or to borrow large sums from the IMF or world bank. Whether they follow through on enforcing strict taxation or not is yet to be seen. I suspect by their non reaction that they are not going to be very pro-active on this at first. Might take a few years before they really get moving on this. By then a lot can change.

My understanding is that as long as you are out of Thailand for 180 days Y is tax free if remitted.

The thing is we don't know if credit cards is income. Its a loan so grey area until they clarify it.

Looks like we are going to have to play chicken with the RD as far as credit cards and ATM withdrawals go.

As far as ATM withdrawals, You guys seem to think there is someone in a back room looking through the data. No. There is this new thing called AI. Can go through all the data in seconds. The world is changing fast.

If you are not worried about it fine. What are you hanging around this thread like a bad smell for?

As I said 100 pages ago, this gift thing needs more clarity. As does credit cards.

For the people who are bringing in pensions, Your tax liability hasn't changes. Its just the people who were using the loophole who's liability may have changed. I suspect that this is more about showing some globalist institution that they are making efforts to comply with their agenda. They might target a few unlucky peeps but my guess is that most can just carry on as usual and probably nothing will happen.

What about cash advance using a offshore credit card? Is credit assessable income?

So my take is, have a clean account offshore with zero deposits after Jan 1 2024 = zero tax when remitted. use bank statements for that account as proof if required.

So I guess the thing to do would be to sell your offshore assets and remit to Thailand on a year you you are not a resident. Kind of inconvenient!

This started out to be a small issue seems to be growing arms and legs.

where does the 15% come from? I thought it was considered income so is taxed the same? Progressive from 0% to 35%.

Question: If you have foreign income in 2024 and are tax resident but do not remit the money until 2025 at which time you are not tax resident, Is it taxable?

They need to realize that if they tax expats, they will not stay. Paying tax in the west usually means free heath care, school for kids, safe roads and highways, Beautiful parks and recreation areas. A welfare system to fall back on if needed. Free tennis courts football fields playgrounds etc...

Why? maybe you have sufficient savings in your Thai account. Or you have a stash of gold bars.

Just ignore him. My plan is very similar.

This gifting thing needs clarification, my understanding is that when you send the money you will be taxed but she is not liable for tax. You will be remitting the money so you pay tax.??

So loans, tax credits etc... is this not the same as a credit card? Can I just use my offshore credit card to remit money?

This is pretty much the question I was asking earlier, although more thoroughly laid out. You better hope they have some very smart people working at the RD, and that they are all on the same page. Bottom line is that we need much more clarity. Like quickly!!