Phulublub

Really don;t know what the problem is. I forgot my extensionw as due, and am going up country tomorrow - so off to the bank on Sunday for letter (I use 800K), to copy shop for photocopies of all needed docs. Down to Jomtien for 0730 Monday morning and there are about 50 ahead of me in the queue. Info desk opens on the dot of 0800 and am through with my number (002) by 0825. Main doors open at 0830 and i am out again by 0850. Under two hours door to door on what is supposed to be a "don't go that day" day. As an aside, helpful chappie at desk said next year need new photo as background needs to be white (my phots are years old, so no real complaints). Also, new requirement is a copy of ALL previous extensions, not just last one - again, very helpfully he merely photocopied the missing ones for me. YMMV. Those who wish to pay 8K+ for an agent to do some copying and skip the queue will have a little less beer money in their wallet. PH

But only one of them suggested injecting bleach PH

This is the point I was trying to highlight a couple of days ago and is potentially even more complicated than that for some. Consider those with both UK Government Pension (exempt) and UK State Pension (not exempt) and other non exempt income (dic=vidends, interest etc) . Will they be able to allocate their personal allowance to their exempt income so that ALL the non-exempt is taxed at 20% thus reducing any potential additional liability here, or must it be pro-rata? PH

There is no "fund" that you contribute to. You pay for current expenditure while working and that includes the pensions being paid at that time. When you come to draw a state pension then, if you have paid sufficeint contributions, you are entitled to a benefit paid for by the then cirrent taxpayers. PH

I read that as you saying that any income (or is it just pension income?) that has been declared in the UK does not need to be declared. If so, since we all submit self assesment returns, then all UK taxpayers (even if they dont have sufficient income to actually pay any tax) are all outside the scope of these regulations and we can all safely ignore them. That's not how I read the rule though...even if declared and taxed then if we remit here more than the 120K (or 190K for 65+) non-exempt income, we should file a return and may be liable to tax if the Thai total is more than that already paid. PH

Is it that simple though? UK ex Military in receipt of Military pension (exempt by DTA) and state pension (assessable Income). Tax is paid...but on which one? Pro rata? Likely under threshhold, but...what if post miltary life, he worked and obtained a further private pension (Assesable Income?)....then it gets muddy. State Pensions are most definitely not "money accumulated while working". Paying NI gives an entitlement to the Pension. There is no pot of money. Not sure the status of private pensions, either defined contribution or defined benefit. PH

To deliberately misquote... "What have the Thai Government ever done for us?" Apart from the sanitation, the medicine, education, wine, public order, irrigation, roads, the fresh water system, and public health ... Oh peace? SHUT UP!!!!! ©️Monty Python 1979

Anyone thinking of dodging a bullet by having one year when they are not Thai tax resident needs to be careful. I have read (but cannot now find the source) that if you were tax resident, spend a year not tax resident and remit funds dirign that year, but then subsequently become tax resident again, the money transferred during your non-tax resident year will be Assessable Income in the year you return. I suspect this is to stop people doing exactly as is being suggested to try and circumvent the law.. PH

Yes. To be pedantic, it is anything earned and remitted after 31 Dec 23. PH

An update has clarified that the new regulation only applies to Assessable Income from 1 Jan 24; this is why you may see several posts advising that statements showing assets and values at 31 Dec 24 should be kept to help prove (if needed) any future transfers of these funds is from exempt assets and is not Assessable Income. PH

Why? Once again, any money earned before the start of this year is NOT liable for any Thai tax. How often does this need repeating? PH

The new regulations are not aimed at retirees. So many think we are vital to the health of Thailand's economy. We are not. The regualtions are aimed at Thais. That some of us may get caught up in it is immaterial in the overall scheme of things; even those who do will, because of the numerouse DTAs, have little or no additional taxes to pay. PH

Slightly off topic, but have you considered that in a global property market downturn, you will get less for your UK property, pay less tax on the profit, but your Thai property(ies) will also cost you less. If you wait until the UK market picks up, you may fuind that Thai prices have risen the same, or more...and there is also the currency risk to consider. The overall difference may be very small and if your long term intention is to sell in UK and buy here, then the best time to do it is "now" subject, of course, to selling your UK property at a reasonable price. PH

Since it is highly unlikely that anyone sending enough money here to buy condos would have earned that money this year, your conclusion is incorrect as such money would not be laible to any tax. I very much doubt anyone who earned enough in Januray to be able to transfer it to Thailand to buy a condo would do that; even if they did, would care about any possible additional tax over that they had already paid, unless they are money laundering, in which case they would happily pay the tax to "clean" those funds. PH

Did you ask them why you did not need to file? Paying tax in home country, or having income that is exempt by DTA, is not (from what I have been able to read) a reason for not filing in Thailand. If you remit above the threshold, then you are to file a return, even if that return will result in zero tax being due. If you can give us clarification of reasons behind why the RD said do not file it would be helpful; otherwise, while what you were told may be believed to be true by the official who told you, it may not, actually, be the correct answer. PH

"Earned Income" is an incorrect term. "Assessable Income" is what should be used and, unless exempt by a DTA, pensions are Assessable Income. PH

Your 800K is a total red herring. Yes, you need to import what you need to live on and that may be more, less or abut 800K. But as has been said many times, much of that income, for many people, will be exempt under a DTA. Other money remitted will also be exempt if it was earned before the start of this year. PH

Wrong. As prevosuly explained, money already held before 1 Jan 24 is outside the scope of this new legislation. Prudent people will make sure they have statements that show balances in case there is later any question about source of funds remitted to Thailand. PH

That is broadly correct. PH

Thus the advce from some to make sure you have evidence of existing funds. There was a recent clarification that all assets held at 31 Dec 23 will not be subject to any Income Tax if transferred here. Only monies earned sicne the start of this year fall under the new regualtions. PH

More incorrect information. The Thai tax year is aligned with the calandar year. If you have to file a tax return, it has to be done by 31 March. Those caught up in the new regualtuons will need to file a tax return by 31 mar 25 for the tax year 1 Jan to 31 Dec 24 PH

Wrong. You only need to bring in 800000 ONCE. If already done, then all you ned is annual living expenses, and many will have exempt pensions, already be paying tax in income in home country and will thus be liable for little or no Thai additioanl taxes. PH

Which could be a link to anywhere for anything....post proper link if you want people to look. PH

Many bars do English breakfasts - Sportsman, Nicky's Witherspoons, CheapCharlies, Kungs. All have their devotees; best you try for yourself! Siamburis has an online shop https://expatfoodsthailand.com/ They delievr throughout Thailand; local delivery is free on orders over THB 1000. PH

Is that a "feeling" or do you have some evidence that will be the case? PH