Presnock

Seminar I listened too said that they were checking out what to do about credit card use and ATM withdrawals too. That they are looking at all income earned for the year whether it is within THailand or not as long as you are a resident in their country and whether or not you sent it all into Thailand that year or kept part of it in your home country. Until the final version is out the final version will not be complete

Check out your country's DTA with Thailand for what they could charge as payble in Thailand

Wold be wise to check your country's DTA status with thailand as that is where one ould find out what will be taxed. Fm the seminar I listened to, the Thai side wishes to taX ALL income be it earned or not and they will supposedly be exchanging data with one's native country as well for ALL income reporting.

actually since the gen X Y and Z have gotten their voting rights' age and it seems to be going downhill too rapidly. Now we have such polarized political views around the world, it seems very few people are not only not happy with life but appear to be very belligerent and too often just attack! A sorry state of affairs. Glad I am in Thailand but it even seems to be showing up here. Hope everyone has a healthy and happy holiday season.

if your pension is not taxed in Canada but does meet Thai tax table then the Thais will probably tax any money you send beginning Jan 1 2024, But like I said above, they are still trying to finalize the law. Based on what I heard on the 15th, the Thais are meeting regularly to work out all the details on this tax. Also, since 61 countries have a DTA with Thailnd, they didn't go into anything about those but advised that individuals should check out their country's DTA for details. Just google "DTA between your country and Thailand." As for the USA our DTA indicates that the Thais will most likely provide a "tax credit" for any taxes we pay on our income of all types. This most likely means that at the end of the Tax Year, we will have to provide a W2 showing income received and taxes paid on that amount. BUT as I and others plus these 3 Embassy seminar speakers continue to advise that nothing is final until the final is written and signed off by a Royal Decree.

also, on the embassy web page about new passport applications, one of the qualifying questions asked is do you hae 6 months or less left on your current passport? Not sure if you have over a year left on your passport, if they will process it or not. Won't hurt to asked them first.

As mentioned above, I do and have done the 65K monthly for years since the EMB dropped the letter of verificaton, you will have to have your bank provide a letter giving 12 monthly transfers from overseas of 65K, never less but can do more but EVERY month must be at least 65K. The bank will verify your account, plus at CM they want a copy of EVERY page of your bank book too.

Well, they will most likely, keep a count of funds coming into the country unless immigration is going to change amounts and then at the end of the year (first will be 01 Jan 2025, you will get a tax bill on the funds brought into the country. However, they are still working on the new law and NOONE really knows that the final will say so...

USA passport has to be done through the consular section of the embassy. Their web site says 6-8 weeks for the renewal - I just did mine and it took less than a month. very quick and efficient now I guess. Best to get it sooner rather than too late so that when you go to immigration to hem extend the long stay, take old passport and new passport, have them transfer the visa, and any pertinent data into the new passport plus your new expension.

I sat through the seminar on the up coming 2024 tax on income remitted into Thailand Based on the speakers, this is still in the discussion mode of the Thai Government so whatever was mentioned today, could change. What the speakers did say is that the local banks and the other banks around the world are using the "common Reporting Standard" meaning that if you have a Thai bank account, your country can share anything dealing with your account and Thailand can share your local account with your home country. Starting in 2024, any money remitted into Thailand, be it via foreign bank to local bank, foreign govt offices to Thai bank, pension funds, retirement funds etc, could be considered for Thai income tax if you are incountry 180 days or more of the calendar year. However, if one wants to bring/send money to buy a condo for example, and that money was earned prior to 2024, then it would not be taxed. The speakers said several times to keep copies of all documentation dealing with your foreign and local banks and money transactions. The Thai side reportedly is still working on foreign credit cards and ATM use but seemed by the speakers that those too will eventually be taxable. They mentioned Digital Nomads need work permits and that their earnings will probably be taxed, no matter where they send the money earned since they are earning it in Thailand. They mentioned DTA's with 51 other countries and every one could be different and one needs to study their particular home country DTA to actually find out what that might mean with taxes and tax exemptions. They said that pensions from abroad could probably be given "tax credit" in Thailand but that documentation of earnings/payments will be needed. Money sent via Wise or other services will need to pay taxes on all sent unless it falls into some other category. Even bringing in cash could be taxed. Basically, what I got from the hour-long seminar was that the Thai government is still meeting regularly and that nothing is totally concrete yet except ANY income from employment, pensions, pers services, contracts whether paid outside or inside Thailand by a person considered as a tax resident willl be considered to be earned income. Basically, I don't feel that I learned exactly what will happen beginning next year as the committee dealing with all this meets regularly and discusses whatever they learned during the break time. I am on a government pension, and at the very least, I can get reimbursed if the Thais do tax the money I send here but would rather they just give me a tax credit after I show the yearly/monthly payments and taxes already paid out. So, I guess like the rest of you, I will just have to wait to see what the final version will be. They mentioned that if you are a tax resident then you should get a Thai tax id number and that everyone should keep records of all their financial dealings. Good luck!

Actually even with a DTA, countries including the US indicate that the residence country can charge tax on earned income and most of those countries also reimburse their citizen for the same amount charged by the residence country on money already taxed by the citizen's country. Usually, pensions are not included in the earned income...though I have read that some pensions do fall under the"earned" income bracket. BUT, we still do not know the exact thing that the Thai government is going to do. Tomorrow the Thai American Chamber of Commerce will be at the US Embassy and via ZOOM will respond to questions and give what they know to date about the roll out of this tax. I will listen in, and afterwards will send a note telling what was said about this tax and how it might affect ex-pats.

besides that, the air pollution is getting bad already. The govt issued a warning due to the pollution for folks to wear masks

When I left high school in '64, joined the military in June, then Gulf of Tonkin, so instead of computers which I didn't have an idea what they were, the military decided I would be a Vietnamese Linguist and I spent most of 3 years in that area including 2 within VN 66-69. When the country called, I went without a complaint. Would do it again if I thought it would make a difference and that the military wouldn't be ignored by the politicians, most of them have never been anywhere near combat nor do they plan to do it themselves. Other high ranking politicians let their children join the military but keep them away from the bad areas.

not a global problem, but a regional one - South Asia and SEAsia burning fields forests sugar cane, etc from India, Indonesia, Malaysia, Myanmar, Laos,Cambodia, China and yeah Thailand. NASA has a satellite that scans for open fires - look at North and South America, then look at Asia = from India east to the South China Sea is is bright red while the western hemisphere is green. I know even with the forest fires in the northern Americas, the red is still only a small portion of that area.

Yeah I used to get them due to the air pollution and running on sidewalks next to busy roads. After the 2nd or third time I went to the hospital and the doctor informed me that the eyelid had several tiny infections close together. After some drops in the eye, she cut out the infections and told me to keep the bandage on for a few hours. That was ove 10 years ago and after that treatment I haven't had any more problems with the eye infections. Like above, for eyes, best to have a doctor look at it.

I agree, any earned income here in Thailand should pay income tax. My money was earned over 40 years working in other countries but I paid the income tax to the USA. Now I get a pension from the USA govt and they tax that money too. They have a DTA with Thailand and if Thailand decides to tax my pension then the US govt will pay me back those funds paid to the Thais. What do you think a Double tax avoidance agreement between governments means?

I also realize that tghe host country (where one has 180+days of residence) IAW the DTA can charge income taxes - therefore at least the USA reimburses those taxes paid to the host govt.

yes, if I didn't already pay tax on all that I receive (already paid tax when I originally earned it) and to avoid making people pay double tax, the sole purpose of the 59 countries that signed such an agreement with Thailand. If I was "earning" any income here I would gladly pay a tax on that money. I spend over 3 million baht per year here in Thailand, including tuition for schools from middle school through college. I paid for my house including taxes and for the yearly muban fee.

As a US cit, I worked overseas for many years, had several houses which an agent took care of. Great renters paying for my houses but after I retired, I sold all because I was a resident of Maryland, a state that charged a fairly high state tax on any pension, property taxes, etc and even if I went back, then they would claim that since I returned to MD, I should pay state taxes for those years gone so I sold everything or gave it to my family there so, if I was to decide to leave Thailand (very doubtful) then I sure wouldn't ever return to MD and that is why I got rid of everything tying me to that state. Agents are okay sometimes which we learned over the years and finally had one that took care of our property the same as if we were there but not having to even think about storms there or other problems, makes it much easier and glad that I got rid of everything.

Even though if they were not exempt, I as a US citizen would be reimbursed for any amount taken out by the Thais, just the additional hassle of having to do the added paper work would just be another unneeded reason for some to leave. There is not much that the Thais could alter in the immigration status that would drive me out but, who knows just how far they might go for the chance at another baht/dollar. Anxious to listen to the 15 Dec presentation of the Thai American Chamber of Commerce to see if anyone has the final plan coming out in Jan.

In mid November, I decided to renew my US passport which was due to expire in May 2024. Went on the embassy website, filled out the necessary documents, and forwarded everything including current passport to the Consular section of the US embassy. Today 9 December, I received my new (and old cancelled passports. Much better than the predicted 6-8 weeks from start to receipt of new passport. Thank you consular section and State Dept.

Also some pensions are considered earned income, federal pensions not so.

There are other monies that are considered earned income - read the definition of same. Or to a US govt webb site and ask what is included in "earned" income. Easy to find and understand.

how can it reduce? tax office in home country will only reimburse that money taken by the Thais

you need to read the definition of "earned" income. A US govt pension is not considered earned income. The Tax agreement says that Thailand could still tax me too but that the US IRS would then adjust my US tax bill for the same amount taken by the Thais. Only the hassle of filing that crap, no loss of money.