JohnnyBD

This is true only if you remit enough assessable income above the threshold. I am a tax resident in 2024, and will not be required to file a tax return next year because I will not remit any assessable income this year.

Then again, not all tax residents are required to file a tax return if they do not remit any assessable income. I am a tax resident in 2024, but I do not have to file a tax return because I will not remit any assessable income this year.

Then again, probably not. Not everyone on an annual extension is a tax resident.

In the US, in my Fidelity account, the normal default is FIFO, but I can also select to use the highest cost basis method resulting in the lowest capital gains which is what my default is set for. I can also select specific shares to sell which is what I always do, that way I can better manage my gains. I'm not sure if there is an option to select LIFO, but it probably does. The IRS doesn't dictate which cost basis method to use, I make that decision.

Sorry forgot to mention. Tax resident in Thailand, but I am a US citizen, so I have to file and pay taxes in the US. All my income is US sourced income.

This Capital Gains thing is making my head spin. If anyone would like to offer their thoughts on some examples below, it would be greatly appreciated. Assume you are a tax resident for all years. See below: 1. If you sold stock or property (owned more than 10 years) in 2024, but didn't remit any of it in 2024. You reported the sale, and paid taxes on the gains on your home country tax return for 2024. Then, in a future year, you remit those monies. Assessable or not? Or, would just the gains you paid tax on in an earlier year be assessable income? 2. Same situation above, but you didn't have any gains. You reported the sale on your home country 2024 tax return, but no taxes were due, because you had no gains. Then, in a future year, you remit those monies. Assessable or not? 3. You have $100k in savings (pre-2024 monies) earning interest monthly, and you transfer the interest out each month and spend it, leaving the original $100k in the account to continue earning interest. Then, in a future year, you remit the $100k. Assessable or not? Thanks for offering your thoughts.

Mr. Dogmatix, This Capital Gains thing is making my head spin. If you wouldn't mind, please share your thoughts on the following: 1. What if you sold stock or property in 2024 (that you bought 10 years ago) but you didn't remit any of it. You claimed any gains on your home country tax return for 2024. After that, it would seem to be savings, right? Then, somewhere down the line, maybe in 2026 or 2027, you remit that savings/money into Thailand. Would all of it be non-assessable or would the gains that you already paid tax on 3 years earlier be assessable income? 2. Same situation above, but you didn't have any gains. You still had to report the sale on your home country 2024 tax return, but no taxes, because no gains. Later you remit those monies to Thailand. Assessable or not? 3. You have $100k in savings (pre-2024 monies), earning interest monthly, and you transfer the interest out each month, and spend it, leaving the original $100k in the account to continue earning interest. Then, you remit the $100k in 2026 or 2027. The $100k was pre-2024 monies, right?. Would it be assessable or not? Thanks.

I don't see where in the Royal Decree it states one needs to wait until the next year to bring their income into Thailand for it to be tax exempt. The way I read the Decree is, that income earned and brought into Thailand this year is exempt when filing your tax return in Mar 2025. No where does it state you have to wait until the next year before bringing in your income for it to be tax exempt. The email I received from BOI LTR Visa Unit backs this up. What am I missing where just a few still argue that you cannot bring income in the same year it was earned?

All foreign monies remitted to Thailand after receiving a LTR visa is tax exempt, no matter when it was earned, even if it was earned 3 years prior, or the previous year, or in the same year it was remitted. That is the offiicial word from the BOI LTR Visa Unit. Do you think they would be promoting the LTR visas to wealthy pensioners and then turn around and say, oops, we forgot to tell you, all your income you remitted to buy a condo and move here is taxable, NOT. You can do whatever you want, but maybe you should contact the BOI LTR Visa Unit, instead of relying on your own interpretation of the tax rules. I guess you could also stay less that 180 days in country to make triple-double sure they won't tax your remittances.

I wish you could find some happiness in your life other than trolling others with your false narrative about LTR annual re-qualifications, just because you cannot afford a LTR visa and are jealous of others who are better off financially. It's very sad...

I hope you can find some happiness in your life. Very sad...

I hope you can find some happiness in your life. Very sad...

It just took me a total of 2 minutes to save my Social Security verification letter, my company pension verification letter and my tax 1099s. If they want to re-check my qualifications, no problem, no hassle. I emailed BOI and they replied that there is NO annual requalification process, so please quit posting false & made-up information. Don't bother replying, because I am signing off and will no longer folllow this thread. I hope you can find some happiness in your life. Very sad...

No, you are wrong. Quit posting false information.

I think Sing and Sig are the same person using different user names. If you follow their posts, they seem to troll this thread trying to antagonize those who can qualify.

You are wrong.

I am on marriage extension now, but the LTR is perfect for me too. With the new tax rules that went into effect on Jan 1, 2024, the LTR (WP) visa will exempt all monies I remit to Thailand after I get my LTR. I love that you can apply online, and the 50k for 10 years is cheaper than what I pay for marriage extension 1,900 + 3,800 for multiple re-entry permit. The multiple re-entry is included with the LTR visa, and I like that you only have to report 1 time per year instead of every 90 days. The additional cost of about 20k THB per year for medical coverage is a turn-off for me. But, I can use the $100k in bank for 12 months method, so I won't need to buy the insurance. This will be less hassle for me, and it won't cost me anymore than I'm paying now.

The cost of living in Bangkok is 44% less expensive than Dubai. And, just so you know, there's no re-checking qualification process each year, just a 1-year reporting, same as the 90-day reporting.

What question remains? I don't understand. A LTR Wealthy Pensioner visa holder is not required to pay taxes on any monies remitted to Thailand, and that's whether the visa holder is in the country for 180 days or not. It makes no differnece to his tax exempt status. It's irrelevant.

Yes, tax exempt even for income earned and remitted in the same year. I have my email from the BOI LTR Visa Unit stating that all income is tax exempt, no matter the source or when it was earned, as long as it was remitted AFTER I obtained my LTR visa. You can get on the BOI website just like I did, and send them a message if you want to confirm. That's what I did. I got tired of reading everyone's opinions, conjecture & speculations.

People can say anything, that doesn't mean it's true. I have my email from the BOI LTR Visa Unit stating that all income is tax exempt, no matter the source or when it was earned, as long as it was remitted AFTER I obtained my LTR visa. You can get on the BOI website just like I did, and send them a message if you want to confirm. That's what I did. I got tired of reading everyone's opinions, conjecture & speculations.

No it's not, as long as you wait until after you get the LTR visa to remiit it. I have my email from the BOI LTR Visa Unit stating that all income is tax exempt, no matter the source or when it was earned, as long as it was remitted AFTER I obtained my LTR visa. You can get on the BOI website just like I did, and send them a message if you want to confirm. That's what I did. I got tired of reading everyone's opinions, conjecture & speculations.

Yes, they said any/all income remitted once you receive your LTR visa is tax exempt. It doesn't mattrer from what foreign source or when it was earned. The Royal Decree 743 states that even if the income was earned in previous year it is still tax exempt. The Decree doesn't state that if you remit monies earned in the same year, that you will have to pay taxes on them. Where are you getting that from?

You are correct. I just received an email from BOI LTR Visa Unit. They confirmed that any/all cash remitted into Thailand by a LTR-WP visa holder is exempt from income taxes. I specifically asked about all of the different sources of my foreign income, pension, dividends, interest, capital gains, etc., and they said it doesn't matter the source as long as it's cash being transferred. That's great news.

I googled it already and couldn't find what i wanted to know, so I emailed the LTR Visa Unit today. I want to know if all income and/or monies remitted to Thailand are tax exempt no matter the source. Specifically, stock dividends, bank interest, company pension, IRA monies, capital gains, etc. I know the qualifications and meet the requirements.