JohnnyBD

Just a question, do we really have to show anyone anything, unless we're audited? First, we are not tax residents if we don't meet the 180 day in-country threshold. Then, we are suppose to self-assess our remittances to determine if any of them meet the assessable income criteria. If we fall under the 120k threshold or the remittances are not assessable income because of the DTA or they were from prior savings, or prior assets, then we do not need a TIN and do not need to file a tax return. I guess if the 1 in 100,000 chance the TRD tax man comes knocking at our door, then we will need to show him that our remittances were not assessable income. Isn't that pretty much correct?

Mike, can you please explain. Are you saying that money I have in savings from 2014, before I ever set foot in Thailand is assessable income if remitted to Thailand now in 2024, or in future years? Seems like savings from prior years should be exempt since it's not income. Same for investments, if I sold some property or stocks that I held for many years and only remitted the original cost basis amount and didn't remit any capital gains. Your thoughts on this would be appreciated.

As far as I know, expats will still need the old school Thai bank accounts for Immigration, to get their yearly extensions.

I read where Malaysia is one of the no income tax countries for expats with overseas income.

I agree with your comments. It seems to me, Thailand finally recognized there are lots of expats living in Thailand that have not been paying any income taxes on monies earned overseas, like those working in Saudi or the digital nomads working in Thailand. I don't know how successful Thaialnd will be collecting those taxes since it is by self-reporting on the honor system. Will the banks report all remittances to the Thai Revenue Dept? How will the Thai RD know how much someone brings into the country either by bank xfers, ATM withdrawals, etc.? My guess is that many expats will just continue not reporting their incomes.

If your scheme involves income earned when you were a tax resident, but remitted in a year when you stayed out of the country just long enough not to be a tax resident, then I guess it could be viewed as a scheme to avoid paying Thai income taxes. After all, it's supposed to be on the honor system and it's up to you to report your assessable income. I'm sure there are many expats who legitimately are not tax residents every year, so they will need to decide for themselves if the monies they remit when they are not a tax resident are assessable or not.

Thank you. I appreciate your reply.

I agree with you, that the spirit and intent of the law is important, but if someone is not in Thailand for at least 180 days, and that person is required to pay taxes to the US government on their US sourced income regardless of where that person lives, then that meets the sniff test and any other test. That person is not cheating the system, because he is paying taxes on his US income as required by law. Thailand has no moral or legal right to tax that person. Luckily for me, I can stay longer in the US and spend more time with my children & grandchildren, that way I don't have to worry about the Thai tax man and the double taxation problem. At least Thailand will still benefit from me spending my US sourced income in Thailand and by supporting my Thai wife & her family. My conscience is clear on this issue. Good luck to all.

Hi Jim, (Mike said you may could help answer my questions below) Thanks... I am a US ciitizen, married to a Thai and living in Bangkok. I am required to file tax returns in USA and pay taxes on my US sourced income (SS, company pension, dividends, interest, capital gains, etc.) My questions. If I don't transfer any money into Thailand in 2024, then I shouldn't need to file a Thai tax return, even if I'm here more than 180 days. Is that correct? I have enough money here to live on. In 2025, I won't be in Thailand for 180 days, so I shouldn't be a tax-resident and can transfer as much money as I want in 2025, right? Also, what if I have some money in my US accounts at the end of Dec 31, 2023 and want to transfer those monies to Thailand in the future. Do I need to report that to Thai RD, and how? I don't think the USA is going to give me a tax credit for paying Thai income taxes on my US income. What do you think? Yes, they will give me a tax credit for paying taxes on my Thai income or interest. Thanks again for your time.

Mike, Thanks so much for posting and answering everyone's questions. That's a ton of work. I am a US ciitizen, married to a Thai and living in Bangkok. I am required to file tax returns in USA and required to pay taxes on all of my US sourced income (SS, pension, dividends, interest, capital gains, etc.) If I don't transfer any money into Thailand in 2024, then I shouldn't need to file a Thai tax return, even if I'm here more than 180 days. Is that correct? I have enough here already to live on. In 2025, I won't be in Thailand for 180 days, so I shouldn't be a tax-resident and can then transfer as much money as I want in 2025, right? Also, what if I have money in my US accounts at the end of Dec 31, 2023 and want to transfer those monies to Thailand in the future. Do I need to report that to Thai RD, how? Thanks again for your time.