JohnnyBD

I know. I feel badly for those who meet the requirements but their income is from different sources which BOI doesn't accept. Fortunately, I meet the pension only requirements. I would liked to have used the $100k (seasoned for 1 year), instead of having to buy the medical policy, but all of my cash was in a brokerage account, so I couldn't use it. Maybe I will move my cash now, and next year, ask them if it's ok to self-insure. I submitted my appl. 2 weeks ago and haven't heard anything yet. Just anxious to get it done, becuase my marriage extension is coming up in Sept.

With that high decline rate, I can only assume that many of those didn't really meet the requirements, and since it didn't cost anything to apply, they probably figured, why not roll the dice and give it a try. The only problem with that, is it clogs up the system and slows things down for those who do meet the requirements.

There is no new worldwide system in Thailand. That is just speculation at this point. Not to say it can't happen, but it has not happened yet.

I don't think they send you a tax bill. Like Mike said, when you file your tax return, you pay what you owe at that time.

Agreed. For those who have options, that's great. For those who don't, not so great. Many will be under the income threshold and not need to pay, and many will not even file. I will simply spend more time visiting my loved ones, and traveling more outside of Thailand with my wife so I stay less than 180 days in country.

I'm eagerly awaiting my approval letter. It's been 2 weeks since I submitted. Not sure how long it takes. I submitted everything they could possibly need, so I don't expect any additional docs request. I've been checking my BOI acct, and watching for some kind of notice, either by email or regular mail, but nothing yet.

Yes if would be marvelous... My Thai wife could go back with me to visit the kids & grandkids. We've been married for 7 years and she's never met my kids & grandkids in person.

He said he was married to a Thai. He can get a Non IMM O-visa and 1-year extension based on marriage when he comes on holiday. 400k in the bank, then he can take it back out after he gets his extension. I don't think Thailand offers a 175 day visa, just joking... If he doesn't want to do the paperwork himself, he can pay an agency.

I'm probably wasting my time, but if you are for real and you truly want to retire in Thailand, here's an option. You said you are married to a Thai. You can get a Non IMM O-visa and 1-year extension based on marriage when you come on holiday. 400k in the bank, then you can take it back out after you get your extension. I don't think Thailand offers a 175 day visa, just joking... If you don't want to do the paperwork yourself, just pay an agency, maybe 25k to 30k should cover it.

Sorry Mr. xeniv23, your extension-of-stay is rejected and you have 7 days to leave my country or face arrest...

And, my response would be, I didn't stay in your country for 180 days, therefore I am not a tax resident.

No, you do not need to declare monies remitted into Thailand if you are NOT a tax resident. If you stay less than 180 days in Thailand, you are NOT a tax resident, and you do NOT need to file a tax return. No one really knows what the rules are going to be next year, so it's better to remit any big monies while you are NOT a tax resident, like I'm doing.

No problem if you are still working and are staying less than 180 days in Thailand. You can bring in all the money you want since you are not a tax resident.

You can probably take your financial information to the local RD and ask them to figure your taxes for you. They may even help you file your tax return. Are you referring to new tax laws that don't exist yet?

I agree, some may pay less taxes in Thailand than in their home country, but some will pay much more. For example; in the US if filing married & joint, you can have up to $124,800 in total income before you pay any taxes depending on the types of income. You will get $29,200 married deduction, $1,550 age 65 deduction, and can have long-term qualified dividends up to $94,050 for total income of $124,800 with zero tax liability. In my case, for 2024, I will have $29,200 & $1,550 of ordinary income & $38,386 in LT dividends which will be exempt in the US, but would be assessable income in Thailand. I will pay tax on the rest of my US income. If this worldwide income tax becomes law, I will just stay less than 180 days in Thailand and spend more time back home with my children & grandchildren.

Thanks to whoever invented VPN. I use the VPN in my home country so my financial institutions and any government agencies will not know when I'm out of the country.

I believe you would need to stay less than 180 days not to be a tax resident. If you stay 180 days or more, I believe you would be a tax resident. I will stay less than 180 days if this comes to pass.

Hi All, For those who bank with SCB, did they discontinue internet banking? I can't seem to find how to set up access to my accounts on my laptop. I can only access my new THB acct with my phone using the SCB app. I can't access my new joint THB acct with my phone, because it's linked only to my THB acct. I can only check balances or get cash from an ATM or the bank for my joint THB acct. If I wanted to xfer or pay bills from my joint THB acct, it looks like I will need to go into the bank, or get a second phone to link it to. That's really inconvenient... I didn't ask when they set up my accts last week, I just assumed that any bank would have internet banking. I will check with them next time I go there.

I will just spend less than 180 days in Thailand if that's what it takes. I'm hoping the LTR-WP visa holders will still be exempt, but if not, I wanted to spend more time with my children & grandchildren anyway.

Some do when they need to make big big withdrawals over the 20k ATM limit. I use my ATM card at any machine when I need only 20k. This is 2024, by the way... just joking...

I'm just letting you know that banks other than Krungsri ask for passports too.

KBank always asked me for my passport when I did counter transactions. So did Citibank, now UOB. I've had accounts with each for 7 years.

Thanks for your help. I hope mine goes quickly too. I submitted everything on May 29. I only submitted my 2023 tax return, 1099s, $50k insurance, along with my SS gov't & pension verification letters & 1099s and history printout. I didn't submit any 2022 tax year docs. I tried to go back and submit them after reading your post, but the system was locked, and it wouldn't let me add anything else. I guess if they need my 2022 docs, they will call or email me. I am waiting anxiously...

There must be another order, directive or edict that was issued by the Director-General of the Revenue Dept. or the Minister of Finance that states all income is tax exempt, otherwise BOI would not be telling everyone that. RD 743 cannot be the only order that was issued because it does not state all income is tax exempt. Several tax firms have issued the same opinion & guidance on RD 743 as Deloitte, I just didn't list them all. If RD 743 is the only order or directive on the issue, then whoever drafted it, needs to be fired.

I think you are misunderstanding their legal opinion. Deloitte issued a legal opinion on RD 743 only. They are not saying that any other income that falls outside of RD 743 is not tax exempt. BOI has promoted the LTR visas as tax exempt, so I'm fairly certain that all income is exempt no matter when it was derived and remitted. It's just that RD 743 doesn't address all the different situations. Everyone is entitled to their own opinion. It would be nice if BOI & TRD would issue some further guidance to clarify and/or add to the RD 743.