Presnock

Chiang Mai - Inoted today, that Pichai says that the parliament passed the taxation bill for the corporate tax earlier in December, and that it has been printed in the GAZETTE ... I also noted several times that he and others in the taxing business mentioned that the worldwide income taxation scheme was part of the corporate tax bill to be implemented just about now. Have you heard anything about this new tax law as I found info on it - "Additional Tax Act B.E. 2567" in today's newspapers. Just wondering as I haven't been able to find anything additional.

yessir as a true narcissist, he only blames others for his faults as he is Mr. Perfect in his mind

You got that right! big busineses had record profits once the pandemic subsided - govt financial folks inidcate that inflation has subsided yet pharmas and big stores have yet to lower their prices so...while the rich pumped millions into Trump's campaign when he promised for tax relief for the rich, they would rather give the millions to Trump than to the government or to their working stiffs so now we see strikes where the workers are hoping to garner some of those profits. The really poor and many previously in the middle class now can never achieve the so-called life dream (home ownership) as housing is way overpriced for the regular hourly earner and the homeless numbers increase yearly in double digits one natl news channel said that in 2024 homeless number increased 18%. Meantime, taxes have to be raised to take care of the open-border illegal immigration hordes since the government pays for their housing, food, clothing and schooling.

sounds right...but I am no tax expert and I know Iwon't have to pay anything in thailand but what I do realize, is that even if we don't have to pay any taxes, the odds are that we all will have more trees to be killed due to the paperwork that will be necessary for us to fill out probably every year!

not only the DTA exemptions but LTR or low paying pensions that are not assessable

over 200 years ago, Benjamin Franklin a co-signer of the US Declaration of Independence, was qoted as saying the only thingsconstant in life are death and taxes (or words to that effect) Governments' budgets need an income source - TAXES unless they have an abundance of oil or precious minierals. So while I do not like taxes, I realize their necessity - my dislike stems from how the rich could afford to pay more at least in the US. They make record profits but as one can see, their workers making money for them don't always get to share those profits thus strikes affecting even other folks.

Where in the taxation plan of the Thai govt does it say tourists' income is taxable? If a touris stays here 180 days in a calendar year, then they would be taxed as they ceased to be tourists and should be here under some other visa. Even on the worldwide scheme of things, tourists would not be taxed as that would be a death knell for tourism By doing the digital nomad and chnaging country every 179 or some other key numbers for different countries in order to never becoming a tax resident in any country, is a "legal" way to avoid paying taxes but eventually I think that countries will also change their meaning of tax resident and that everyone will have to have a tax ID number from some country which will then have to be provided when obtaining a visa. I have had to pay taxes my entire working life as an American as well as on my pension yearly. The reason all these tax schemes which has caused worries for some people is due to the fact that some people just haven't paid taxes somewhere. Is it right? I don't know but I understand why a country like this one has no money in the govt coffers since so few of the citizens actually pay taxes here. If one wants to avoid ever paying taxes anywhere, that is a personal problem maybe.

yes the OECD agreement, plus CRS and FACTA have all come about they say to stop people from not paying taxes on their income to some country. And Thailand which signed onto that agreement and looked closely at their tax situation while looking at empty govt coffers has begun changing their tax system and from what we have seen, they plan to further change to the worldwide income tax scheme which many countries too have changed to. Eventually, I think that very few countries will ignore those that avoid paying taxes anywhere.

you certainly hit the nail on the head so to speak. Just look at how rich the "normal" elected offiials end up their careers as rich! they couldn't even floor an "anti-insider-trading" bill for themselve earlier this year, But they is a state by state group making the rounds and collecting votes to do just that, put term limits on the Congress folks and I thought I noted a Trump call for that too. Could always hope for it - they might pass such a bill but "grandfather" all current officials to protect their assets.

yeah, need a third political party but trying to find honest, hard working people willing to serve the country is in my opinion impossible. The US isbroke throwing money at every problem thinking that more dollars will fix every problem when all it seems to do is attract more people wanting more benefits and freebies without having to earn them.

N95 masks and 2.5micron masks reportedly filter out most of the pollutants. There may be more up to date on particular masks, but if one looks for them, read the labels to determine quality. https://ellessco.com/blog/2022/07/pm25-mask-different-n95

yep, another error....glad you saw it and corrected it!

FYI: 3 days later but looks like the information from that ASEAN Briefing article but if anyone is inerested, since it being disseminated by different news, hopefully the TRD or Govt Finance Ministry might give all a heads up too: https://asianafrican.org/thailand-2025-global-income-tax-key-impacts-for-residents-investors/

I guess any money you remit this year anyway, will be reported to the local TRD by wherever you send the money to so, probably if over a certain amount determined by the TRD, they may want to audit you or at least ask you to provide proof of the source of those funds forwarded and they will determine if assessable or not. BUt like I said, anything I write here is a guess unless I link the reporting source.

I am not an expert but the DTA's usually cover civil pensions in writing but not always so... I think everyone should be checking their DTA carefully. If your govt ignores civil service pensions then if they are not taxed nor covered in the DTA then you might be taxed or maybe not..Again, only guesses until we see what the Thai's say. They too may have checckd the PI tax program which basically ignores retirees. And I am sure that the Thai's know full well how much money is "spent" by expats here.

maybe, maybe not as the DTA's were done via treaty between Thailand and other countries. I recall if one party wanted to change/drop it, they are required to give 6 months notice. I may be wrong but I do think that since the Thai government wants to join several international groups, they may wish to just keep the DTA's but again only a guess on my part. Either way, not everyone will be happy but good luck to all if any new scheme surfaces soon.

AS has been mentioned way too many times to count - who knows what the Thai govt will come out with the new tax scheme and when? They seem to be including the new worldwide scheme with the 15% corporate tax as the OECD seems to like. We have also heard from the agents or those with folks seemingly working on the new interpretation/law change that there are a lot of dissension among those in the finance dept so no one outside really has any idea of what will be the final plan nor how it will affect expat retirees and/other farangs as well as Thai folks being affected. It still remains anybody's guess only - after all it announces at the beginning of this forum - users opinions only!

Also, I read earlier this past week that they hoped to get the 15% corporate tax out by January so that they could implement it in 2025 but earlier there wasn't any mention about the worldwide income tax as part of the same bill. I thought they meant that they needed to have the parliament pass the bill by 1 January - then the print in the Gaxette prior to starting but now i am not sure what they plan to do... standing by, checking different areas to see if someone is talking about it. Good luck to all.

maybe because I dropped the first e in residents..try that thanks, fingers at 78 just don't pay attention to spelling..

I wonder why we see about the 15% corporate tax and 2025 start but nothiing about the worldwide income taxation as part of the same bill

FYI: on 16 dec, a briefing of ASEAN about the world wide income taxation was given which indicates that the Thai govt is "set to overhaul its tax sysem by 2025 proposing the taxation of residents' worlwide income and introducing a 15 percent global minimum corporate tax". https://www.aseanbriefing.com/news/thailands-global-income-tax-overhaul-implications-for-rsidents-and-investors/

fyi

believe that this is the definition of a politician uh or is it that politician is the definition of a corrupt liar or.....

Drjack54 is totally correct. I was on a Retirement O for 20+ years, never did the bank deposit, originally used Embassy letter but when that ceased, I did the 65K monthly until I then saw the benefits/cost of the LTR, switched and believe it to be the best for my money.