Presnock

https://www.bangkokpost.com/business/genral/s89466s/board-of-investment-eager-to-dull-minimum-tax-pain. most of the article deals with investment but the opening paragraphs mention tax residents having to pay tax on all income whether remitted or not to Thailand and bill being drafted now.

BTW: there is a 2 November BP article saying that the government is drawing up a draft law on the worldwide income tax scheme which they plan to implement next year. Not much in the article other than this info that the BOI needs to come up with something to dull the pain on Tax resident foreigners having to pay taxes on income earned whether the income is remitted or not. Good luck.

2 November dateline: BP has an article that does not add a lot to the worldwide income taxation scheme but does mention they are now drafting the law which will tax all foreign income of Tax residents beginning next year whether or not that income is remitted into Thailand so, BOI needs to find a way to dull the "PAIN" of that new tax scheme. No a whole lot more except on corporate taxes. Looking more and more definite. But then again, not even sure this govt will be around next month even. Welcome winter as prediction is this week, temperatures in BKK might drop 1-3 degrees! However, for three straight days the pollution has been over the healthy level in Prawet district anyway (where we have a lot of greenery/trees)!

The article that I read indicated that they were unsure of what they might offer once they decide on the next tax scheme so maybe they will provide something in return for the taxes they collect. good luck

Unless those funds are specifically mentioned in the DTA between he UK and Thailand, I do believe that Thailand will tax any of those funds remitted into Thailand. If the UK had taxed them, then you could get a tax credit but since you say the UK doesn't tax those funds, Thailand probably will. I am not a tax expert but from what I have read and heard this is what will happen. If those funds were in your account prior to 01 January 2024, then you might get by with no taxes but like I say, I am not an expert on any taxes other than my own. Good luck anyway.

Not on this FORUM! every day is a new day and amazing at some of the choices as folks have run out of the "normal" ones.IMHO

If planning to relocate to Thailand, if one has children or plans ot have them, the education system is entirely different than that in most western nations. International schools which are taught English or other foreign tongues, can be expensive but good ones can properly educate one's children that wish to go to western colleges upon graduation from HS. Before settling on any particular location within Thailand if one has or plans to have children with schools in mind as proper education is not available everywhere here. Both of my daughters graduated from International HS's - the elder one is a super computer software teacher and an asst CEO of a successful comany in the US, while the younger one is a college sophomore (in the top 1%) of her class, speaks reads and writes in 4 different languages and has even taught basic Chinese and Korean languages while being a native English and Thai speaker. We have some experience in the Thai education system too in case anyone has any questions but there are numerous reports avaialable too. Best of luck - continue watching the future of Thailand if you plan to come here - they plan to join BRICS next year, are warming up to China and Russia already. The govt's seem to rotate styles regularly - might want to check that out too. But the Thai people for the most part are great, the weather though changing is still good though some flooding during a wet rainy season. to some of us it is still paradise.

Yeah, life goes on in Thailand - now today even here, we read how Thailand is chomping at the bit to get in the trade bed with Russia! and they are reportedly thinking about the import and export of agricultural goods. If they think that Russia will gladly take all that they have to offer, my personal feeling is that Russia is smiling at another country that will be taking their oversupply of everything. But, I wish only the best for Thailand, as I have read the propaganda on Russia and Chinese communists for as many years as I have been able to read.

Basically, if one has been following the researchers, it is metabolism. We have been led to believe that once one hits 50-60 years of age it is time one is already fatter or getting fatter, doing less exercise as it might be dangerous (heart wise as one has been sedentary too long already, but in reality the research clearly shows humans have the same basic metablistic stages no matter what country or race or whatever on might be. there is a smaller group of humans that yeah they are faced with some gene (DNA) problems and need to take other measures to compensate. But the majority of people basically suffer from a poor (health) lifestyle which brings on the major death causing health issues. All one needs to do to see proof of this is to google disease/health statistics of different countries. Take the US for instance - biggest spender of health care yet over 50% of the citizens are overweight - not just by a few pounds either and 42% are diabetics and those figures grow regularly. Foods now are loaded with chemicals which are alien to the human body and which sure as hell do not foster good health but just the opposite. I am not a "health nut" or maybe I am but I am approaching 78 years of age this month, have had health insurance my whole adult life and have never used it as I haven't had any bad health issues. I did contract COVID from my wife and daughter - (slight sore throat for 2 days like my daughter but wife did spend 5 days in the hospital. I have exercised (running a couple of marathons (UGH!) probably 20 half marathons, hundreds of races below that and 6-10 miles daily until 65 and thought my knees might give out as only sidewalks or paved roads were available so beban walking 8-16 kilometers a day (last couple of years 5-6 kilometers a day, plus lift weights several times per week, do core exercises 45-60 minutes on the non-lifting days and have continued this routine for over a decade. I avoid eating/drinking alcohol and sugary drinks/food, don't do drugs of any type, not even aspirin as I haven't even had a headache in over 30 years. I eat foods recommended by researchers that studies have shown help prevent those killers - Heart disease, diabetes/obesity, Alzheimer's, cancer and stroke. I realize too that I am at the mercy of my parents DNA (both were affected by one or more of the above health issues) but hopefully my diet will help me last a while longer. Many doctors are now beginning to recognize that lifestyle and diets affect the lives of their patients and some have begun to change their diagnosis and treatments. Hopefully everyone reading this verbiage by me will think about their own lives and those in need take the necessary steps to improve their own health. I wish only the best for all as it is really up to YOU and just as you are thinking, whatever you want to do! Have a great day!

The very documentation bit hit me quickly! I was on a retirement O for 20 plus years so understand about documentation though some things now can be done online, some things have only began that were never there, but the LTR is to me just so easy now on paperwork. No having to go elsewhere to get a document - can do everything from you computer in your house! A lot less paperwork by far. Plus, the folks at the BOI are super helpful and speak and understand English well. The only time one might have a problem is not having the specific documentation that will be accepted. Once one decides to go for it, keep in mind that those of us that have that visa might have had the same problem area and we might be able to steer one's document to what that person needs. We too are willing to pass on our process situations - some people took longer than others but prevailed. I myself at first had some document problem probably due to ENGLISH document for those that do the final approval but I was able to eventually get my LTR just over 2 weeks from start to finish! Good luck. For me I realize this is absolutely the best for me.

Many of the problems self inflicted IMHO. Basically when one makes the decision to retire in Thailand, some testing of the "waters" needs to be done. Also, if one does any studying about Thailand they would note the quickly changing situations in just about every category that also affect the expats that do come here and stay. Just about all have some pet peeves - but as for me, after more than 20 years here, I still love it as much as the first time I came here in the 1970's era. Lovely country, lovely people, great food choices and weather more or less great too as it NEVER gets cold (except on Doi Intanon in "winter").

You might need to check some of the countries that the US does provide monies and other considerations too!

True, this is why the US has traditionally be one of the countries allowing the most immigrants every year. After all, almost all the US citizens are descendants of foreigners!

You may have shortchanged yourself on that number!

I was assigned here in the early 70's with US military fighting in the VN conflict. After that, once that conflict was over, I convinced my family to come here - my office agreed and we were assigned to Bangkok. My family loved the touring and great things about Thailand in the days of the late '70 era, I came back in the '90 era with just my wife, we both continued to enjoy Bangkok even with some of the negative "progress". So, after my wife passed away, I retired here in Bangkok. Did plan on marriage but guess it was in my blood by then so did get married. Now we have a 21-year old young college girl of whom we are very proud. I still love Thailand, realizing after living in many different countries, some with different cultures entirely, that nowhere is perfect, no even where I grew up in the US but Thailand certainly checks most of the areas of which I am primarily concerned. Will it remain even for the short period remaining of my life as I am 78 this month so sure hope it remains such a pleasure to face each day. I could easily live in the US but I have an older daughter there plus friends with whom I chat regularly and see that a lot more of negative changes there too so will hope any change is slower to occur here. Thailand is still that "paradise" to me.

yes, Sunni vs <deleted>e fighting and killing each other since the 600's and insisting that ALL people recongize theirs as the one true religion while spitting on any other religion. I have lived and work in MUSLIM fundamenalist city for a couple of years, had what I considered "friends" claimed to be devout Muslims tell me horror stories besides the ones openly reported in the local newspapers daily, so my feelings about them are well founded IMHO. I have also spent some time in another MUSLIM countries that for the most part, in the big cities are not so fundamentalist nor unaccepting of other non-MUSLIMS, at least in the time that I was interacting with them. I agree that the extremism is due to insecurity from within the people that are teaching the citizens from a very young age 4 years old to HATE the western countries. This was explained to me, however, I still fail to understand it.

Yeah, we have seen the Chinese version of "free trade" for a long time, noting how it is almost always a one way street, from Chinese factories to the rest of the world. Yet, immediately, Thai leaders continue to strive to become members of BRICS, thinking that it just opens up the markets of the other countries. If anyone here thinks that Russia, China, India, Saudi, etc will open their markets fully to Thailand - dream on. Those countries are only looking for more votes against the traditional Western countries. I will admit that many of the western countries have done their fair share of taking from the poorer countries for a long time. But, I still believe that the western countries treat weaker countries a lot better than many of the BRICS leaders. IMHO having read much about all these issues for over 70 years.

That would mean that with an LTR one might possibly have to file as remitted foreign income is exempt...but if it is from a DTA such as mine, civil service pension which is taxable only by US govt, that might not be "exempt" by the revenue dept, that is why they need to be more specific on what is or not - maybe the new tas forms will spell it out for us. Watched a webinar from a tax agency todsy and they specifically said I would not have to get a tax ID number nor file taxes but they might not know any more than the rest of us.

FYI I watched a webinar today - they said if one does not have assessable income one is not required to get a Tax ID number, in fact he said the revenue dept won't even issue you a tax ID number if you have no assessable income remitted. But he also said that under the CSR (I haVE HEARD THAT THIS IS NOT POSSIBLE) the Thai revenue department will be able to get one's ATM and credit card charges but since others say that is not possible, then if one thing is false then other things he said might be false too. just saying, even if one is from a tax agency it doesn equate to knowing all the facts current or future. Therefore as always, we just have to wait for clearer guidance from the Revenue Department.

I agree with you. WE continue to see articles with "hints' that these issues are being at least discussed and from the writers comments it appears like most things here have different issues with different others so they have a difficult time coming up with agreeable new laws. I think that they are in such dire economic straits at this time that if this govt remains in power, we will see some progress on the taxation schemes. Like the casino bill - they indicate that even if the cabinet passes it, it would take another 6 months to begin such activity. If they do plan to change the tax situation to a worldwide income taxed then it probably could not take effect until 2026 or so for filing in 2027. But, the bottom line is TIT! a Thai tax return is required for one with assessable income. IAW the revenue dept, they will not even issue a tax ID number if you do not have any assessable income. That of course under any new guidance might change to require EVERY tax resident must get a tax ID number and file a tax form even if no assessable income. But unless the revenue department spells out these new rules, we should only have to abide by those rules they have written on their webpage - in English too. As of now, unless some new guidance is provided, I will not get a tax ID number nor a tax form as I will never have any ASSESSABLE income (US govt civil service pension taxed only by US govt) and I also have a LTR visa. I am relaxed right now but am just looking for any changes to the current rules. I have read them several times as well as the DTA so understand. Hopefully new tax forms along with wider tax rules will be coming out this month or next month. Good luck

If you know exactly when she came into Thailand, from what I have read, ThaI Immigration keeps a log of Passporr numbers so you may be able to get the passport number anyway. But you should also report immediately to the UK authorities about the passport for your daughter has been lost.

That is 180 or more days in a calendar near, not 183!

That is pretty much like the LTR, instead of having to provide BOI with residence once a year, if the LTR holder exits Thailand anytime less than that year, upon re-entering Thailand he doesn't have to notify BOI of his residence until 1-year later. I guess immigration upon his entering reports it or something.

happening more and more in too many countries - and with negative birth rates in many countries, yeah the immigrants will outnumber the native born citizens in the not too distant future IMHO.

these stories seem to repeat over and over regularly. The one following this on about the monk - those stories too. I guess the western countries sure don't have a lock on horrible supposedly responsible people. Parents and guardians, religious or not!