Presnock

But don't forget, while the US may tax one on foreign-earned income, the US govt also gives an foreign earned exclusion of up to $I23,000 US if you qualify.

well, I agree that the pain will be felt by us long-termers with family here and schooling here but I am already taxed by the US govt on my pension and others probably too - hopefully our DTA with Thailand will protect us or give the US govt some incentive to assist us. But at the very least, we can get a US tax credit if Thailand does tax monies before we get it here. Hopefully all a moot point and some Thai folks will come to their senses that these efforts are in vain.

yessir and as they become tax residents, how are the Thai govt going to be able to entice them to stay or more to come...still very few getting non-taxed ... aren't the govt agencies working together or what?

google "thailand applies for OECD membership" and see the articles there - late March 2024...easy enough for ANYONE to see

Read on this forum that thailand had applied and that they were hoping to do it in 5 years while normally takes up to 7 years for membership. Article said that Thailand already was on some committees of the OECD.

security on personal info is definitely at risk here. Due to being poor, seems workers who do have access through their jobs are more than willing to release that info.

definitely hard to argue with you on this issue. They will learn one reaps what one sows (maybe).

Thailand has applied for membership in the OECD but it takes years and they need to meet all the qualifications...odds are the govt will change and the new one might not want to join the OECD though they do have some agreements currently with the OECD. Once the final bill(s) are published, then we will see what we as expats need to do to be happy.

Maybe they think this and blv they will reap big $$$ from those having to leave sooner rather than later but, if there is a mass exodus now, you can bet there will not be any replacements coming from the free world that would buy condos, houses, cars, local hospitalization, visa renewals etc. Costly for the current govt for sure in my opinion.

I blv one must pay tax somewhere, if not in country of citizenship then in country of tax residency. Problems exist if DTA is not clear from about taxes. Need to have govts agree and citizens to inform their govt of being unfair or not.

but don't ignore the fact that the US also has an exclusion on foreign-earned income when filing US taxes each year. We don't get penalized twice unless one is earning very much.

that's why campaign promises in order to win elections should look at the coffers prior to making such announcements...now getting the funds together for those promises is difficult to say the least.

Yes the US taxes on worldwide income but if you earn a salary overseas, the US govt allows a deduction on the taxes for that salary if I am not mistaken...Called foreign earned income reduction!

You need to read it more carefully. The 1 billion baht platform is a Thai based platform and has nothing to do with expats unless they work there and they were supposed to be paying taxes already. This new bit is saying that all tax residents (180+ days a calendar) year, no matter where they are from, the Thais want to tax all of their income, not just that money remitted to Thailand. This seems totally absurd to me for them to even consider it. I thought that they had not even totally come to terms with the original new tax interpretation and then to come up with this...some strange ideas and I really don't think it is workable and if approved will drive many folks away instead of garnering more taxes from expats in my opinion only of course as I am not any kind of financial wizard. Good luck to us all

In the city of San Francisco, Calf I heard on the news that there are NO HOUSES for sale under ONE MILLION US DOLLARS! I believe that means most of the citizens there!

One difference on the USA taxation - It is for any tax resident earning in the US and for ALL US citizens worldwide. US IRS would not try to tax Thai earned income on Thai citizens.

just like information on the other tax interpretation...we will be notified when (you don't have a need to know yet!) and if or not.

Who knows what evil lurks in the hearts of the TRD folks when it comes to finding another possible source of income. Seems unworkable and the 1 billion baht is for local industries...they seem to be looking at the funds overseas of all THAI TAX RESIDENTS. We will be watching this closely for sure....

not if the water is sold in plastic bottles...read that plastic particles permeate that water. almost as bad as ocean water nowadays...pretty soon we will be advised not to eat any seafood as the plastic exists throughout their system/skin/meat etc.

WELL, I was always told by those that did retire that the saying is "the first thing one must think about upon waking is "whether today will be a Saturday or a Sunday"" I realize if one practices certain religions, the actual day of the week might change. To me, I always refer to the dictionary if I am uncertain about the meaning of a word - retire/retirement is defined as quit work/no work! and I believe in that!

well I retired at 58 as I maxed out...if I continued working, I would be earning about 25 cents an hour... I had seen others hang around even in that situation and recalled how they everntually regretted not leaving earlier. If one wishes to continue working go for it...I loved my job but some of my co-workers were of the younger generations and I am not a particular fan of those groups. Wonder how the changing society of many western countries affects the younger generations in such a negative way - one may disagree with my opinion but if so please advise me why people are no longer happy and want to violently disagree with us older folks. Peace to all, be happy, be healthy, SMILE

Hopefully the Thai RD will advise us sooner rather than later if at all about the taxes next year

well at 77, got the LTR so odds are this is my last home stand. If not, then hopefully there will be another LTR. Love my life in Thailand. Miss my other daughter in the US. Miss one or two others but not enough to make me want to go back to the US. It is a different country than that in which I was born and raised. Life goes on and luckily Thailand may change but hope not for the worse.

That is why governors of various states have taken up the issue of squatters in their state to change laws to protect the owners as too many liberal judges/lawyers bend towards the squatters and other criminals.

I agree wholeheartedly and as mentioned previously one daughter graduated from IS in Rome - successful highly paid CEO asst in US, younger daughter graduated from CMIS 2 years ago speaking, reading, translating, etc in 4 languages - Thai/US native, Chinese (11th grade after hours taught basic Chinese at another HS) Korean - has passed level 4l of the international Korean test - also very high level math and computer skills. CMIS students usually love learning and the school is very supportive of that issue.