Presnock

Yeah, I think that too many officials here or writers of articles don't fully understand what ALL means instead of "all tax residents with assessable income" whether one gets a refund or not or probably many will not even have to pay any tax on their assessable income

that was in a Thai Examiner article quoting the trd official and specifically mentins expats and foreign tax residents! advises foreign tax residents to file by 31st March deadline. Link is inclued in another claim that expats or foreigners are never mentioned when in fact they are. I realize this is an opinion forum but when one states facts that are incorrect we need to advise them.

https://www.thaiexaminer.com/thai-news-foreigners/2025/01/03/revenue-department-boss-calls-om-tax-residents-in-thailand-to-file-2024-runs-by-the march-31st-deadline yes it is about filing this year but refers to the plans to tax ALL tax resident foreigners and add them to the thai tax programs

earlier thsi month, an officIAL of the trd or finance ministry said all folks need to file income taxes he specifically mentioned expats and foreign tax residents will need to file for taxes

Your remitted foreign income is exempt by royal decree -can check that out in the TRD English pages if you are not sure. I am sure though.

The lower tax rate is if you are an LTR holder working in and earnng money in Thailand You would be working with a work permit of course but limited on amount of tax taken out. The others LTR folks we are exempt from being taxed on any foreiign income earned/remitted into Thailand. can easily check by going to BOI LTR benefits and all are spelled out clearly.

I completely agree with your assessement of the lack of any need to get a tax ID here or to file a tax form. I will not have any SS but my civil service pension by the DTA can only be taxed by the US govt. Also have an LTR so exemt there too.

Did you notice that there is a news item that Spain is taxing homes bought by foreigners at 100% of the value! I note too some of the golden passport countries have cancelled their offers. Seems more and more countries are going with new tax rules due to the OECD agreement.

well, not planning on linking any of them but many of the articles quoting the Finance folks and the TRD folks have mentioned having expate and foreigners included in the filing for taxes. Too many articles but remember clearly.

Oky okay, you could probably join the Philippine forum and they too exchange a lot of useful info for folks contemplating change of locations. As of now I am completely protected from Thai taxes so don't plan on any changes yet. Bur, good luck to all...maybe someday the TRD will provide us with some answers and understandable tax forms.

well, I thought it iwas different so googled the PI and retirement funds - they do exempt basic retirement funds - look it up. I note on their forum that for the most part retirees don't pay taxes there.

well, if the TRD can't ome up with forms in some readable languages for expats, then I really fail to understand why the govt is so insistent about expats filing. Here we have been informed over a year ago, so why have forms in relevent languages not available for the expats? There is no excuse in my opinion anyway unless, they plan to do as the pI, not require retirees to file tax forms nor taxes at all on their retirement. Good luck on filing as I am not planning to do any filing this year for sure.

But there was a bit on the fact that they thought that the 80K minimum for 2 years for the wealthy pensioner might be altered too Maybe sometime in the 9+ years I have left on the LTR, the govt will advise us on all that is happening. My only guess based on what I have seen since late December is that some parliament of cabinet members might still not agree to all the changes under the worldwide income taxation scheme which the finance leaders said that the govt wanted it approved by 1 Jan 2025 or they might not be able to implement it until 2026. Who know what evil lurks in hearts of the TRD?

well, the govt just announced easing of the wealthy pensioner of the LTR scheme - but they included in the benefits, that foreign income was still tax free, nowhere have I seen any indication other than from expats on this forum that the TRD will not be giving tax free to foreign earned income remitted or not.

you must be dreaming if you think that they will give us all the info within 3 months.

in the long run, can be cheaper than locking your money up in a Thai bank. Plus, no 90-day reports, in and out of the country free as much as you want, easier return at the airport...no need to obtain bank letters, etc every year. just saying, I was on a retirement o for 20 years and after reading the benefits of the LTR, changed as it fits me much better.

You need to check your country's DTA carefully - my US DTA says specifically that my civil service pension can ONLY be taxed by the US govt. Same with social security and if too low, the ss might below taxable income in US but still by virtue of the wording in the DTA it still is not taxable by Thailand, only the US.

sounds like he is guessing just like the TRD folks are guessing! That is the biggest problem here, no actual individuals including those of the TRD don't get any info either...have to wait until the politicians finish their search for money.

would depend on who did it and their connections - might just be a fine or limitation of crime prior to legal judgement

Yeah, but he could have gotten that many years prior and even once learning he suffered from this, could just not told the local govt when he got a renewal. Scary anyway as here one can get away with all kinds of violations of local laws very easily it seems.

yeah, but I don't worry about that as I just consider it as anything else on this forum, BTW as I mentioned I do worry about the current tax situation here but if they change the tax laws IAW the commen by Deputy Finance Minister Julapun Amornvivat on 10 January, that they are studying "negative income tax which REQUIRES EVERYONE in the country , regardless of income level, to file personal income tax." Then, even with exemptions, each of us might have to get a Tax ID number and the tax forms here. Then I will follow those new rules.... https://www.bangkokpost.com/business/general/2936711/panel-seeks-reform-tax-structure-state-welfare-system

probably because although the LTR has been around longer than this year, anyone having exempt foreign income would probably not have reported any. But the work permit LTR has local income so the TRD should have seen the LTR previously when that person filed for the local taxes.

Well I don't know about other countries govt but the US OPM who pays my pension provides yearly as ell as monthly documentaton of my annuity and my stateside bank provides me with a monthly message stating from what office my pension was received. So if necessarfy I can easily provide a copy of those as I keep them for my tax records of at leat 5 years.

Glad that the US at least if not other countries, specifically says in the DTA taxable "only in contractng country" and in my case, my pension is already taxed by the US govt

sounds more like complication of oneself as the TRD is only doing what they get paid to do