SHA 2 BKK

Good on ya cobber. Welcome to the LTR Club. Sorry it took so long for you matey but like you said look to the future not the past. Well done

Oh that’s a bugger mate. Sorry to hear some cove ripped you off. Don’t know if this will get scrubbed by admin but email Kundun and Partners. Tell them the Australian LTR sent you. KhunThanyaluck Thong-rompo Partner Kudun and Partners M: (66) 98 119 8418 | T: (66) 2838 1750 ext. 1997 | [email protected] Good luck matey.

Agree. Don’t know where you’re based mate but get to the BOI One Stop Service Centre at Chamchuri Square. I had my Pensioner LTR in two weeks but my wife daughter got “frozen” somehow in the system. It was Christmas/New Year and we were overseas. When we got back I visited the Centre and things were done in 72 hours. 2. Yes I think your LTR is cancelled unless you find a new Employer who you qualify with - Misty will know. 3. No you can’t claim any privileges until you have your LTR. I’d get a Thai accountant to maximize allowances etc. Seriously cobber I’d go to Chamchuri Square with all your paperwork.

“Where would that leave the "Elite" people? Rich enough to cough up the Tax ? Or will they just adjust the number of days the spend in Thailand?” I came off the Elite to the LTR and by golly in hindsight I am glad I did. At least there is some protection afforded to LTR a through the Royal Decree (743). Though I am sure DTAs will (should) protect me from extra Tax the LTR does give me an extra level of comfort. As for Elite Visas, after jacking up the price, there might be some nervous nellies, especially among some groups with untaxed income. Those Elite Visa greeting staff with the little golf buggy at Swampy might get extra busy as Elite Visa holders make more trips abroad to avoid the 183 day test.

Hi all. Got this from a Law/Tax firm I use in Bangkok. I didn’t use them for my LTR Visa as I did it online with the BOI but used them some years ago on some other matters. Their clear advice is no Tax Changes for LTR Visa holders with the recent RD Direction on overseas remittance. “Thank you for interested in our article and services.We are pleased to inform you that the latest Revenue Department Order No.Por 161/2566 on Income Tax (the “Revenue Department Order”) does not extendto the Royal Decree issued under the Revenue Code Governing the Reduction ofTax Rates and Exemption of Taxes (No. 743) B.E. 2565 (2022) (the “RoyalDecree”). Therefore, any foreigner who wish to apply the LTR still enjoysthe privileges from the personal income tax exemptions under the RoyalDecree.”

In Australia you can file and research taxes in Thai and many other languages. But hey, “we ain’t in Kansas anymore Toto”. Tax time resources in languages other than English To help you prepare and lodge your tax return we have translated resources available. You can download the resources from the ATO publications ordering service. The collection includes: Help for your first tax time – information if you're new to Australia to help with your first tax time. How to get ready to do your tax return – a checklist of the information you might need for your tax return. Steps to make doing your tax return easier – a guide to help you do your tax return. Important information for your tax return - key topics for your tax return this year. Get free help to do your tax return – information about our Tax Help service. Good recordkeeping makes tax time easier – tips for keeping good tax records. Occupation and work-related expense guides – to help you work out what expenses you can claim as a deduction on your tax return. We encourage you to keep checking this page as we'll continue to provide new information. Select your language from the list below. EnglishExternal Link / English اللغة العربيةExternal Link / Arabic 简体中文External Link / Chinese – simplified 繁體中文External Link / Chinese – traditional دریExternal Link / Dari EλλŋνıĸaExternal Link / Greek Bahasa IndonesiaExternal Link / Indonesian ItalianoExternal Link / Italian هزاره گیExternal Link / Hazaragi हिन्दीExternal Link / Hindi 日本語External Link / Japanese ភាសាខ្មែរExternal Link / Khmer 한국어External Link / Korean नेपालीExternal Link / Nepali پښتوExternal Link / Pashto فارسیExternal Link / Persian (Farsi) PolskiExternal Link / Polish ਪੰਜਾਬੀExternal Link / Punjabi EspañolExternal Link / Spanish ภาษาไทยExternal Link / Thai Tiềng ViệtExternal Link / Vietnamese

I will see if Austcham can get him along (we are right down on the pecking order however). Follow his visit to our “Yankee” cousins.

No apologies needed and excellent response. Yes. Let’s see how this plays out. Hope the BOIs assertion there won’t be any change for we humble pensioners hold up!! Thanks again for the response.

I’m sure George Soros and Bill Gates are behind all this. And this Crows I saw this morning were not real. Robots sent to spy on us. No more birds left I am afraid. Also I guess I shouldn’t worry about my Aussie taxes anymore because apparently Australia doesn’t exist. The internet has made the ramblings of nutters de rigueur unfortunately.

I parked most of my liquid assets in Australia. 4.7% return. I will have to pay Australian income tax on that but it’s far better than Thai Bank rates (which are also taxed). The money is at call and has some Government Guarantees.

This has always been the case and is the currently case for most tax residents until midnight 31 December 2023. LTR Pensioners will continue to be free from paying income taxes on remittances of income (not only pensions) as long as was received in the previous tax (calendar) year.

Sorry for those not used to the Westminster System of Government. A “line Minister” is one that has specific “carriage” of a project. Whilst the BOI might sit under aegis of the Prime Minister’s’ Department, one of the Deputy PM’s is Chairman and therefore the “line Minister” - NB yes Thailand is not a Westminster System of Government (unfortunately) but I think it’s a good analogy. This from their Facebook. “BOI revealed that on october 10, 2023, the first BOI board meeting chaired by Mr.Panpree Bahiddha-Nukara, Deputy Prime Minister, and newly appointed Chairman of the BOI, also fine-tuned the 5-year investment promotion strategy that became effective in January this year.”

BOI still bullish about the LTR Visa. Including the tax benefits. This is their Facebook October 5. Apparently one of the new Deputy PM’s is the BOI line Minister. “Thailand is gaining global recognition as a favorable work destination. According to the Expat Insider 2023 report by InterNations, a website with a global Expat network exceeding 5 million members, Thailand ranks 6th among 53 countries as the most desirable destination for foreigners to work. This is a significant leap from its 8th position in 2022 and 12th in 2021. This metric testifies to Thailand's successful policies in attracting foreign professionals. ???? The global investment scene is rapidly pivoting towards Asia. Countries like Singapore, Malaysia, the Philippines, and Indonesia are devising long-term visa strategies to allure prospective talents and investors. Within this evolving landscape, Thailand emerges distinctively with its Long-Term Resident (LTR) Visa initiative. The Thai government has introduced the Long-Term Resident (LTR) Visa program to attract high-potential individuals a year ago. This 10-year visa offers a range of tax and non-tax benefits, making Thailand an attractive regional hub for living and doing business. ???? A Look at the Data Since its official launch on September 1, 2022, the LTR Visa program has witnessed a surge of 4,842 applications in just a span of one year. The applicants primarily come from Europe (2,179), the United States (810), and China (507), and are categorized into 5 main groups: ▶️ Retirees with an income of at least $80,000 per year: 30% ▶️ Remote Workers: 25.4% ▶️ High-Skilled Professionals: 15.6% ▶️ High-Net-Worth Individuals with an annual income of at least $1 million: 6.3% ▶️ Spouses and Dependents: 22.8% ???? Economic Impact This initiative is more than just a visa program; it's a strategy of Thailand's economy. The Thailand Board of Investment (BOI) estimates that each LTR visa holder will contribute around 1 million Thai Baht per year to the economy. With over 4,000 applicants already, that's a prospective economic value of over 4 billion Baht!! ???? Talent and Business Synergy The LTR visa is a magnet for top-tier global organizations such as Seagate Technology (Thailand), IHI Power Systems (Thailand), Robert Bosch Automotive Technologies (Thailand), Murata Electronics (Thailand), Delta Electronics (Thailand), Ducati Motor (Thailand), and Newly Weds Foods (Thailand) This also includes Thai companies seeking highly skilled foreign personnel, such as SCB DataX. This not only enhances Thailand's talent pool but also fosters skills transfer, potentially upskilling the domestic workforce. This diversity can result in a society that's not just economically robust, but also culturally rich. ✨ The Bigger Picture Thailand isn't just offering residency; it's building a talent and investment ecosystem. It's transforming from a competitive nation to a technological and innovative hub of the region. The LTR visa program is more than a pathway for long-term stay; it's an integral part of Thailand's long-term vision. By offering opportunities for economic investment, professional development, and cultural enrichment, Thailand is not just opening its doors wider but is also elevating its standing on the global stage. Be part of this revolutionary moment. ✨✨✨✨✨✨✨✨✨✨✨✨✨✨✨✨ #BOI #LTR #LongTermResident #VISA #Thailand ???? 0 2553 8111 ???? [email protected] ???? www.boi.go.th ???? all contacts are free of charge

Interesting on Pensions. I read the Australian Thai DTA last night. It’s on the Thai RD Website and Pensions and Annuities paid by either country can only be taxed by the Country that paid it. So if your Australian and your only income is a Pension or Annuity my reading is no need to lodge a tax return in Thailand. Article 18 Pensions and annuities 1. Subject to the provisions of Article 19, pensions and annuities paid to a resident of one of the Contracting States shall be taxable only in that State. 2. The term "annuity" means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money

Yes cobber your not Robinson Crusoe in wanting final Regulations! I reckon we LTR will be ok (I'm keeping that email from LTR saying we are in the clear) and the RD won't want thousands of Farangs on the other Visas in their office at tax time arguing the toss over DTAs et al. But I think we may never get that final Regulation we all seek and deliberately so. As Churchill said : "It's a riddle wrapped in a mystery inside an enigma" They will want voluntary tax returns from most and only go after the ones that are remitting a lot of coin into Thailand on non LTR Visas. I may be wrong but I may be right!

Good point cobber. I’ve had my LTR over a year so am covered but newbies should wait until next year.

Here is the relevant section of the Royal Decree (743) Section 5 Income tax under Part 2 of Chapter 3 in Title 2 of the Revenue Code shall be exempted for a foreigner categorised as Wealthy Global Citizen, Wealthy Pensioner, or Work- from-Thailand Professional who is granted a Long-Term Resident Visa under immigration law for assessable income under section 40 of the Revenue Code derived in the previous tax year from an employment, or from business carried on abroad, or from a property situated abroad, and brought into Thailand.

Sorry mate. “…. only exempt for income that does not come into Thailand”? Shouldn’t that be “only exempt for overseas income that does come into Thailand”? I know any Thai income will be taxed at at the usual rate in Thailand but the Pensioner LTR proclaims that overseas income can be brought in Tax Free as long as it’s the following Tax year (as per Royal Decree 743). Can you clarify matey?

THAI! Count your blessings cobber. My better half is from Singapore! Stone the bloody crows they are tough bloody work. Enough to drive a man to drink but it's Buddhist Lent and I promised to be good. Anyway I've been impressed with this LTR Visa - let's hope they don't change it.

Apart the missus keeping me on me toes it's very good to live here and have done so for 8 years. It's a good base to travel (In Australia half the trip is just getting out of the place). My kids go to International school here and we have seen much of Asia. Good luck for your travels mate.

Understand matey. I did my whole family online. Finished in two weeks! But I don’t want any work visa in Thailand. Retirement now and live off my pension and investments. Personally I’m kind of happy not to be in the Thai Tax system (yet)!

No. The Pension LTR is Tax Free on Foreign Remittances (as long as earned the previous year) Highly Skilled LTRs pay 17% tax on income earned in Thailand. I don’t think they can claim the tax free for Overseas Remittance. This is from the BOI to me. I wouldn’t use an agent personally. “ Thank you for your inquiry. On the note of the recent Revenue Department announcement on the new conditions for oversea income that generate from business/ asset or work abroad to be subject for personal income tax. We would like to address that for the LTR tax benefits: the revenue department has already announced a royal decree to exempt the LTR- Wealthy Global/ Wealthy Pension/ Work from Thailand from paying the income tax derived from oversea business/ work and assets. Therefore the change in conditions will not effect the exemption of the LTR mentioned group. Therefore, we can assure you that the incentive of the LTR visa is still the same. We also believe the revenue department will shortly give an official clarification also as it is their main responsibility and we will work with them to get the procedure for future assistance i.e. to address when you wire in the money that it is from the work remotely (same as in LTR application)- the revenue can cross check with us if they want, don't worry. If you have any further inquiry or find any obstacles, please let us know so we can address the issue with revenue department on your behalf.”

Some bloke on the main “2024 Tax Thread” said the LTR was a hangover from the previous Government and a pet project of some out of favour ex Minister. The gist was there will be a new Royal Decree to get rid of the LTR Visa. Proper “chicken little thinking”. Anyway I will have to enough coin here by December to see me through the whole of next year and keep my dollars parked offshore to see how this plays out. Yes most Thais see Farngs as easy marks with lots of money but to get rid of the LTR will hurt their EEC project and certainly see me finding a new Tax Domicile post. TIT.

Don’t use an agent. Just go through BOI. Yes no 90 day report just annually if you don’t leave the country. I only stayed one year and that during COVID. 0% Tax on remittances from Overseas (as long as earned the year before) for three types of Visas. If you work in Thailand as a Highly Skilled LTR 17% Tax. Some “chicken littles” saying the Government is going to get rid of this Visa but I think after Farangs stop sending so much coin after January 1 they wont dare. Time will tell. Anyway it’s far better than the Elite Visa (I had one before this). No 90 reports. https://ltr.boi.go.th/

Because the LTR Pensioner Visa allows me to bring in income earned in the previous year tax free (as per currently everyone else - but this will change 1 January 2024 for non LTR Visa holders - thus this long thread). I figure I don’t and won’t have to lodge a Thai tax return if I continue with this method. I have asked BOI for their clarification and they have advised this will continue to be the case and the RD will make an announcement re. Though I am not holding my breath waiting! Some on here predict that this tax exemption will end for LTR Visa holders. If so I have enough savings from previous years to remit and not lodge a tax return as I gather savings are exempt. Time as always will tell.