JohnnyBD

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.

This thread has changed from a tax information thread into a tax evasion thread.

I sent the following request to the BOI LTR Visa Unit. I am hoping they send me an email so I have something in writing before applying for my LTR visa. Dear LTR Visa Unit, Would you be so kind as to answer a couple of questions for me about the LTR Weathly Pensioner's visa. Thank you. 1. Are all foreign income and monies exempt from Thai income tax when remitted to Thailand? 2. I have US Social Security, a company pension, stock dividends, bank interest and IRA individual retirement account monies that I will be remitting to Thailand. Are all of those monies exempt from income tax when remitted to Thailand?

I am seriously thinking about getting a LTR visa, but would like to know if all income and/or monies remitted to Thailand is tax exempt. Some of the responses from BOI seem to be a little ambiguous as to what monies are tax exempt and if any are not. Would someone with a LTR visa be so kind as to please email the LTR Visa Unit or BOI and ask them if all monies remitted to Thailand is tax exempt, specifically, monies such as; company pension, annuities, stock dividends, bank interest, 401ks, IRAs, rental income, capital gains, etc. It would very nice if someone with authority would put it in writing to clear up what monies are tax exempt and what monies are not, if some are not.

The only problem I see with their reply is that is still a little ambiguous. It states that income under the 3 mentioned categories (employment, business or property situated abroad), will be exempt from tax when that income is remitted into Thailand if you already have the LTR visa. It was not specific enough to say all income and monies from all sources such as; company pension, annuities, stock dividends, bank interest, 401ks, IRAs, rental income, capital gains, etc. It would have been very nice if they would have just said all income and/or monies transferred into Thailand is exempt from taxes, period. But, no official seems to want to be that specific.

If you have time to share your thoughts on my question, I would appreciate it. Does foreign income (for example in 2024), but not remitted in 2024 or 2025, ever cease to be assessable income for a tax resident? Is there a statute of limitations on this? What if it was remitted in 2026, in 2028, or in 2030? Or, will it always be assessable income whenever it is remitted? What if those 2024 monies were remitted in a year when you were not a tax resident. I guess what I'm thinking is, if someone is not a tax resident and not required to file a tax return, why would TRD ever question them. Are they going to start questioning every non resident/tourist/visitor who remits money. Just thinking of different situations.