JohnnyBD

He was talking about work from home category, if he needed a work permit. That is why he went to the labour department. Not about LTR Wealthy Pensioners visa. See the previous post where he asked me about work permits. There is no issue with tax exemption status for LTR-WP visa holders. The law is clear on that point.

I'm not sure about the right to work online or work permit rules. You can contact the LTR visa unit directly at the following to ask them questions: LTR Visa Thailand - Long Term Resident Program (boi.go.th)

Is this what you are looking for? The Thai version is No. 9, English version No. 10. LTR Visa Thailand - Laws & Regulations (boi.go.th) Royal Decree issued under the Revenue Code No.743 (EN).pdf (boi.go.th)

I read through both threads already, but didn't see any other legal options than what I listed. There were some things mentioned like; gifting, or using CCs & debit cards at ATMs and not reporting those as remittances, but that seems to me to be questionable options rather than solid legal options. Thanks again.

I was thinking about several ways one can avoid paying PIT in Thailand, regardless of the type of visa you have. I will certainly use some of the options below. If anyone can think of any other options, please share them. Thanks... 1. Stay less than 180 days in-country (non-tax resident), remit as much money as you want tax free for future year's spending when you are a tax resident. 2. Stay 180 days (tax resident), remit less than the TEDA threshold, so as not to owe any taxes, can use previously remitted monies if needed. 3. Stay 180 days (tax resident), remit only pre-2024 monies 4. Stay 180 days (tax resident), remit only tax-exempt monies as per DTA such as; your US Social Security, gov't pensions, etc. 5. Stay 180 days (tax resident), get a LTR visa if one can qualify

I was thinking about several ways one can avoid paying PIT in Thailand, regardless of the type of visa you have. I will certainly use some of the options below. If anyone can think of any other options, please share them. Thanks... 1. Stay less than 180 days in-country (non-tax resident), remit as much money as you want tax free for future year's spending when you are a tax resident. 2. Stay 180 days (tax resident), remit less than the TEDA threshold, so as not to owe any taxes, can use previously remitted monies if needed. 3. Stay 180 days (tax resident), remit only pre-2024 monies 4. Stay 180 days (tax resident), remit only tax-exempt monies as per DTA such as; your US Social Security, gov't pensions, etc. 5. Stay 180 days (tax resident), get a LTR visa if one can qualify

It's certainly a possibility, in the future, that banks are made to require acct holders to get Thai TINs. I don't see a problem with it. If it's required, I will happily get one to comply. I have accts at 3 banks now, and I don't have one, and don't need one.

I recently opened 3 accounts at SCB (USD, THB & joint accts), and was NOT required to have a Thai TIN number. So, any statements that all bank account holders are required to have Thai TIN numbers are incorrect. I was required to give them my US TIN number. What happens in the future is just a guess.

I opened 3 SCB accounts recently, and was not required to have a TIN.

Yes, it was just wishful thinking based on my banking background, but it doesn't affect me, because all my remittances are tax exempt anyway.

I agree, a CC is totally different than drawing money directly out of your bank account with a debit card. Technically, it's drawing on an established line of credit, and can be paid back over time. In my opinion, it's a loan, not income. What if I borrowed $100k against my home or my stocks, and remitted, would it be income or a loan? Assessable or not? I would guess not, but what do I know. Lots of unknowns right now.

The first link is from the Revenue Department website, and the second link is on the ASEAN NOW forum, under the Jobs & Banking forum. FOREIGNERS_PAY_TAX2024.pdf (rd.go.th)

There are several threads on this topic already. Just ask Moderator to close your new thread. See below: Jobs, Economy, Banking, Business, Investments - Thailand News, Travel & Forum - ASEAN NOW

Congrats, and welcome to the club.

1. Notification - I printed both versions and gave them both to be safe, they were in the last section where I uploaded the docs 2. The TM.94 had a button to press to print on first screen after I scheduled appt. 3. same for STM.8, had button, also appointment confirmation had button to press to print, only after appt. was scheduled 4. Yes 4x6cm, I brought my 5x5cm US passport photo also, and they used it instead of 4x6 There is a print & photo shop around Sukhumvit 33 close to Phrom Phong on north side of street that I used.

Just so you know, the question was asked and answered by BOI just this week on whether LTR-P visa holders need to file a tax return. BOI's answer was NO, we do not need to file a tax return if we had no Thai-sourced income. I am quite satisfied with BOI's answer, and if anything changes, I'm sure BOI will let us know if we need to file a "nil" tax return. On 7/15/2024 at 9:15 AM, Incorrigible1 said: For what it is worth, today I went to One Stop to get a residence certificate (LTR proved to be valuable in getting expedited, courteous service). After finishing I stopped by BOI and met with one of the representatives. In answer to my question, he told me that any income earned outside of Thailand is exempt and that if I had no income generated in Thailand, I did not have to file a tax return.

These appear to be the TRD rules that apply to LTR visa tax exemption. I haven't found any other TRD documents which have additional rules on tax exemption. Clause 2 A foreigner categorised as High-Skilled Professional, Wealthy Global Citizen, Wealthy Pensioner, or Work-from-Thailand Professional who is eligible for income tax reduction or exemption under Section 3, Section 4, or Section 5 of the Royal Decree issued under the Revenue Code governing reduction of tax rates and exemption of taxes (No. 743) B.E. 2565 (2022), as the case may be, must meet the following qualifications: (1) Be granted a Long-Term Resident Visa under immigration law, as the case may be; (2) Meets qualifications for and complies with rules and conditions on Long-Term Resident Visa as prescribed by the Office of the Board of Investment.

The following TRD document is on the BOI website. I hope it's enough (along with the Royal Decree 743) to convince you that the tax exmption for LTR visa holders is valid. I'm convinced. Notification of the Director-General of the Revenue Department Regarding Income Tax (No. 427) Re: Prescribing rules, procedures, and conditions on income tax reduction and exemption for long-term resident ----- By virtue of Section 3 and Section 6 of the Royal Decree issued under the Revenue Code governing reduction of tax rates and exemption of taxes (No. 743) B.E. 2565 (2022), the Director-General of the Revenue Department prescribes rules, procedures, and conditions on income tax reduction and exemption for long-term resident as follows: ----- Clause 2 A foreigner categorised as High-Skilled Professional, Wealthy Global Citizen, Wealthy Pensioner, or Work-from-Thailand Professional who is eligible for income tax reduction or exemption under Section 3, Section 4, or Section 5 of the Royal Decree issued under the Revenue Code governing reduction of tax rates and exemption of taxes (No. 743) B.E. 2565 (2022), as the case may be, must meet the following qualifications: (1) Be granted a Long-Term Resident Visa under immigration law, as the case may be; (2) Meets qualifications for and complies with rules and conditions on Long-Term Resident Visa as prescribed by the Office of the Board of Investment. Notification of Income Tax No.427 (EN).pdf (boi.go.th) Royal Decree issued under the Revenue Code No.743 (EN).pdf (boi.go.th)

All I can tell you is, I have it in writing from BOI, and was told just last week at the BOI office again, that all the monies I remit going forward are tax exempt. The BOI website has the Royal Decree 743 and Revenue Dept. Director-General's Notification on Tax No. 427 posted on it, which supports this. Right now, the rule is all monies remitted by LTR-WP visa holders are tax exempt. That is not in question. I'm sure if the rules ever change, BOI will notify everyone since we are in their database. I'm not worried at all. I don't know what else to tell you.

I do not understand why some, who do not have LTR visas, keep posting that LTR visa holders can lose their tax exempt status for no reason at all. I was at BOI just last week, and was told as long as I continue to meet the requirements; insurance, $100k in bank, $80k pension income, etc., then all the monies I remit from overseas, will be tax exempt. The tax exempt benefits are posted on BOI's website for all to see, (Royal Decree 743 and Director-General's Notification on Tax No. 427). Take care.

Thanks for the post. I was told the same thing last week when I went to my LTR-WP visa issuance appointment. They also told me the 1-year reporting clock starts over again after I return from an overseas trip, so I will never need to do 1-year report.

By Paul Ashburn, Partner HLB Thailand April 25, 2024 Approximately a year before the Revenue Department announced the changes to foreign income taxation, Thailand launched a long-term resident visa (LTR visa) programme to enhance the country’s attractiveness as a regional hub for living and doing business for ‘high-potential’ foreigners. One of the benefits granted to an LTR visa holder is an exemption from income tax on foreign income brought into Thailand, pursuant to Royal Decree No. 743 issued under the Revenue Code. The exemption applies to income from an employment or from business carried on abroad, or from a property situated abroad, that has been brought into Thailand. There are three categories of LTR visa holders eligible for the exemption: Wealthy global citizens; Wealthy pensioners; and Work-from-Thailand professionals. Foreign nationals holding an LTR visa in one of these categories are not affected by the change of the Revenue Department’s interpretation of the law.

Just my opinion, but it seems like your missus would be considered as having remitted the money to her Thai account, and therefore she may have some tax liability depending on what type of income it is (assessable or non-assessable), when it was earned (pre-2024 is exempt, but 2024 income is taxable), and how much assessable income is remitted (over the deductions and allowances).

Mike, could you give your opinion on whether pre-2024 income has to be remitted by Dec 31, 2024 to be exempt, or can it be remitted in 2025 and still be exempt. Thank you. The article below was on Pattaya Mail today. By Victor Wong July 11, 2024 Key Provisions of Order No. P. 161/2566, Foreign Income Reporting Starting January 1, 2024, all residents in Thailand must report income from abroad when it is brought into the country. This includes income from work, investments, and assets located outside Thailand. However, any income earned before this date can be transferred to Thailand tax-free if done by December 31, 2024. ---- ---- Exemption for Pre-2024 Income The amendment explicitly states that income earned before January 1, 2024, is exempt from these new provisions if transferred to Thailand by the end of 2024. This provides a grace period for taxpayers to adjust to the new rules. New tax rules for foreign-sourced income - Pattaya Mail

Mr. Stat, I want to apologize to you and everyone else for the way I responded to one of your posts on Tuesday. I know it's no excuse, but I was at a Thai house party with lots of people drinking, including myself, and I was wrong to respond the way I did. I know everyone is trying to interpret the rules and figure out how it affects their situation. I am fortunate in that I have pre-2024 monies I can remit for several years until things become clearer. Best of luck with your situation.