potless

Maybe not my concern as such, but of interest as to how the income of people in general is treated differently for different nationalities for essentially the same product. I think the UK/Thailand DTA was written over 40 years back. People with a pension from government employment have that pension taxed exclusively in the UK. Company pensions, the state old age payment, personal pensions etc are assessable.

I noticed those points on the video with the TRD official. And as to that last paragraph, he may also say what he thinks the interviewee wants to hear. A question that should have been asked to the TRD official is "are all your tax officials up to date with the latest information on a nationwide basis"? No chance of that though.

Thanks for the reply, however as a Brit, I have no knowledge of these U.S. products. I think a review of all DTAs is needed on the international stage and standardisation where possible. Not going to happen though is it.

For sure, but its the source of funds that may be open to question. I will hang on to them (I have 2) anyway for the foreseeable future.

All opinions welcome thanks.

Yes thanks, thats how I view it too, though I remitted most of my liquid cash last year anyway. Many years back I bought a product named Index Linked Savings, issued by the UK government via National Savings and Investments, with all increases tax free. Around a 66% increase up to now. Although the product clearly states that it is a savings product, would the TRD view it as an investment as opposed to savings, purely because they will likely not understand the product. Who knows.

Pertinent questions for sure. I have no idea about the original source of the only "cash in the bank" phrase. I read it on various threads and it was repeated as fact on an ExpatTaxThailand video where a T.R.D. official was present. What to believe? Agreed. That is what pi***ed me off last year when I read about investment profits being taxed. I didnt feel they were entitled to tax on gains accrued over previous years. What made it worse for me was thinking both the capital gains AND original capital were assessable. My bad. Your reply to me about CGT has actually come as a relief. That would be good though I wont hold my breath waiting. My investments as at the 31st December 2024 showed an increase of around 17% compared to 31 December 2023. Not tax resident in 2024. I foresee heads exploding on both sides of the tax office counter. Badly handled by TRD considering they have had plenty of time to prepare for this.

Thanks for your reply, similar to NoDisplayName s reply. My reply to him is just above this post. You say that this would apply prior to January 31st 2023. Would this not apply going forward, i.e. investments purchased this year and then sold in several years time?

Thanks for your reply and clarification. As in Jinthings post (3rd one down on this page), As far as the exemption of funds on December 31st, 2023: "ONLY FOR BANK ACCOUNTS AND CASH ACCOUNTS" "YOU CANNOT APPLY THIS FOR INVESTMENTS OR PENSIONS" i have seen that written in various posts on tax threads and wrongly assumed that all money remitted from investment sales would be assessable, hence my query. WOW. A few months back, I was reading posts where posters had similar interests to each other but couldnt agree on their analysis of the tax rules. I was thinking of suggesting that some of them could get together and seek advice, sharing the cost. I then realised that this could lead to arguments amongst themselves, a mass brawl, police summoned, hospital bills. deportation and blacklisting. 🙂

At 17.40 Investment case study 2. He gives an example of calculating capital gains tax for a tax resident who sells £40k of UK investments and remits the whole amount to Thailand in 2024. Out of the remittance of 1,722,911 baht including the 40% gain cited, he comes up with a figure of 487,341 as the gain and says that is the assessable income. Then at 19.30 shows a tax form with the 487,341 baht entered in a box as the assessable income. Why is the rest of the remittance not assessable? What am I missing?

Thanks for the reply.

I find it hard to believe that the the U.S. military generals, all the way down to the troops on the ground, would have the will to invade Canada. Its one thing to send an army to a middle eastern country, but Canada ?

I find the advice from the head of the department to provide supporting documents a touch odd, in that had you filed online, there would be no such requirement or facility to do that as far as I know, (maybe I am wrong). May I ask if the bank statements you provided were originals and did the tax office keep them? I.e. you dont have them anymore.

Thanks for your reply. Does the T.R.D. have an option to speak to someone in English? All I got was a long winded message in Thai language.

I remember that you stated that in a reply to my question in December. It makes sense. I still seek clarification on the exchange rate used if anyone knows.

One of the questions that caught my eye. "If foreign sourced income is remitted into a foreign currency account in Thailand, then at a later date transferred into a Baht account, is the exchange rate to be used for income calculation the TT rate on the initial transfer date, or the second transfer date?" The answer given was "It is calculated on the date it arrives in Thailand (the initial date it arrives in your account); the currency is irrelevant, it is the date the funds are remitted and received in Thailand" I asked that question in December in Mike Listers main forum and the regular poster CHIANG MAI felt that it only became assessable when converted to Thai Baht. There is obviously a significant difference between the two scenarios. I also note that there was no comment from ExpatTax about the exchange rate used. I read elsewhere that the Buying rate applies. I rang the 1161 helpline today but all I got was a long pre-recorded message in Thai language. Any thoughts on this anyone?

I just read an article on the Phuketnews.com website dated Sunday 26th January 2025. Named "Thailands Tax Changes: Clarity from the Revenue Department". At the very bottom of the page, there is a message that says "The Revenue Department will join a live Q&A webinar on ZOOM starting at 4pm on Wednesday ( Jan 29th)". ( This should not be confused with the link further up the article that connects to the old video that was posted a few days back and was recorded last year.) So did anyone see this webinar and was there anything new in it?

Do not enter Thailand before the 6th.

ZZ preferred the head butt.

Thats right. I was using the figures quoted in Kerrys simplified example purely to demonstrate how calculations on assessable income should be made.

180 days makes you tax resident. 179 days or less to be non tax resident.

The tax bill you cite is incorrect. The first 150,000 is zero rated. That leaves 530,000. The next 150,000 is taxed at 5% (7,500). That leaves 380,000. The next 200.000 is taxed at 10% (20,000). That leaves 180,000 taxed at 15% (27,000). A total of 54,500 baht.

Perhaps they followed the wrong flag.

Preferably using a different phone. They already have your phone number so they will know it is you calling.

I have had 2 cataract ops. Make sure you get an eye shield. NHS UK suggests you wear it at night. I suggest you wear it all day as well, for at least a fortnight. Get a roll of microporous tape to secure it. The last thing you want is dust/dirt getting blown into your eye. The anaesthetic was administered by eye drops. I have read that some people on this forum were given an injection into their eye. No thanks. For post op, I was given 2in1 eye drops containing a steroid and antibiotic for 4 weeks. Use a flannel to clean the area around the eye. Dont get water in your eye so careful with the shower. I went home half an hour after the op. Eye will be very watery for the first few days. Good luck.