Lorry

This is about Dengvaxia

All Thais whose English is limited or who feel uncomfortable using English (because they rarely use it) will be much more friendly and will be much less reluctant to talk to you. Regular girls, vendors, technicians who fix a phone or an a/c, tax office, bank staff (especially back office), nurses (including in Bumrungrad)... (not: immigration, BTS staff) They might even teach you in what country you live here. Thailand is more than lower Sukhumvit, the English speaking elite and some English speaking professionals.

And you wouldn't know they flagged your passport until you deal with immigration. You may not even know RD has a problem with you. Just like it happened to ballpoint. Just like an Interpol red notice works. Remit as little as possible in 2024 and 2025. So even if a tax liability arises, it won't be too much, you can easily pay it and then leave the country if you want. By 2026 (or 2027) we will know how this all plays out.

Correct. And you wouldn't know about the arrest warrant until you are arrested. But it's really very improbable.

Well said

It is a very clear explanation that even most aliens might be able to understand. I posted an understandable translation here

This thread is about FATCA/CRS, isn't it?

PS reading the Q&A again, there is a hitch: They say many times, that they are only taxing income from years in which you have been tax resident in Thailand (e.g. rental income from renting out your London flat in 2020, when you stayed 200 days in Thailand) This income will be taxable when you bring it into Thailand, no matter in which year. Nowhere do they explicitly state that you also have to be a tax resident in the year the money is brought into Thailand. If that's not necessary, the consequences would be enormous. You could owe taxes for sending old income from 2020 (or 1999) into Thailand even if in the year of sending you are not in Thailand at all. The loophole would be closed, but if you ever have stayed in Thailand more than 180 days, you better never send money into Thailand ever after.

PS reading the Q&A again, there is a hitch: They say many times, that they are only taxing income from years in which you have been tax resident in Thailand (e.g. rental income from renting out your London flat in 2020, when you stayed 200 days in Thailand) This income will be taxable when you bring it into Thailand, no matter in which year. Nowhere do they explicitly state that you also have to be a tax resident in the year the money is brought into Thailand. If that's not necessary, the consequences would be enormous. You could owe taxes for sending old income from 2020 into Thailand even if in the year of sending you are not in Thailand at all. The loophole would be closed, but if you ever have stayed in Thailand more than 180 days, you better never send money into Thailand ever after.

What is ambiguous here? (Sorry, English is not my native language)

It's not the law. It's the current interpretation of the law, by the RD. Such an interpretation can easily be changed, by another RD order or by a court, for example. It can also be changed retroactively (because "the law didn't change, we only just found out the correct meaning of the law") This method has been recommended by an accounting firm dealing with rich people, and in 5 years, we will know whether it has worked.

Conclusion: You won't be able to handle this without a tax adviser in Thailand (whom you have to pay). You will still have to deal with your home country's bureaucracy by yourself (like having your country's tax office produce documents in a format Somchai the RD inspector will accept). All those who think "I don't have to do anything because my Superfixation pension from Gambia is not taxable here, according to our DTA" are walking on very thin ice (Q10) Most people won't have to pay more tax than several thousand dollars a year. It's a problem for people who really don't have more than 65000 (or even less than that).

So, they are serious and it's not just a fluke RD order. Savings are not automatically safe (details see below). It will be a bureaucratic nightmare, it's probably better to leave. Q1 already answers one question that is often asked: income from years past, is that still considered income (or is it savings)? How far will they go back? In the answer, they go back 4 years - that gives you some idea. Q2 doubles down: "no matter when that income was incurred" (in Q9 its 17 years) Q8 endorses the obvious solution: bring your foreign income to Thailand in a year in which you stay less than 180 days in Thailand. This solution was mentioned before, it has been recommended by a big accounting firm. Q9 clarifies once more that only foreign income from years in which you were a tax resident in Thailand will be taxed (when you bring it into Thailand) - so all your saved income from the time you lived and worked in farangland will not be taxed. Q10 they want to use the tax credit method for DTAs. This can only work if the taxpayer proves for which income (how much?) he paid how much tax. Logically, he will have to translate, certify and legalize proof of income and his foreign tax returns (which is what TrouleandGrumpy's tax adviser said). Every year. Have fun! BTW sometimes a DTA doesn't use the tax credit method but says that certain types of income are just not taxable in Thailand. It remains to be seen whether the RD will follow these rules.

10. Question: If assessable income imported into Thailand is taxable income? Income earned abroad If the money is brought back in, the income must be lost. Taxes in Thailand again Is it a double tax collection or not? Answer: There is no double taxation. In the case of being a tax resident in Thailand (Remained in Thailand for more than 180 days) can take tax paid abroad as a credit against required tax. taxable income in Thailand in the tax year in which the assessable income is brought into Thailand According to the provisions of the Double Tax Convention that Thailand is a contracting party with that country 11. Question: The Revenue Department Order No. P. 161/2023 is not a law. Taxpayers must comply with it. Is this an order from the Revenue Department? Answer: It is not legal. But it is an explanation of the law, Section 41, paragraph two of the Revenue Code. Taxpayers still have a duty to comply with the law in paying taxes, which the Revenue Department Order Type P. is an order given by the Director-General in his capacity as commander. Revenue officers consider this a practice guideline. to provide advice to taxpayers To be able to comply with the law correctly

8. Question: If you are not in Thailand for 180 days or more in the tax year. but has assessable income from foreign income sources in that tax year Do I have to pay personal income tax when bringing that assessable income back into Thailand? Answer: There is no need to pay personal income tax. Even if the assessable income is brought back into Thailand Example: In 2028, Mr. A. is in Thailand for a total of 65 days. Mr. A. has income that should be assessed from renting properties in foreign countries. By receiving the rental money into a bank account located abroad And in the same year, Mr. A. transferred the said income to a bank account in Thailand. Mr. A. did not have to pay personal income tax on the said rental money. Because you were not a resident of Thailand when the money was generated 9. Question: If a person lives and works or conducts business in a foreign country for a long time and later wants to return to live in Thailand. So I brought the accumulated money. from working or operating a business abroad Such person must Do I have to pay taxes on bringing that savings into Thailand? Answer: No taxes required. In the case of using money accumulated from work or business abroad into Thailand Because the said accumulated money comes from Assessable income arising in a tax year in which the person is in Thailand for less than 180 days. Example: Mrs. D. is of Thai nationality and has been living in China since 2007. onwards, but in 2024 Mrs. D. wants to travel back to live in Thailand. permanently, so the money accumulated from operating in China was brought back into All of Thailand. As such, Mrs. D. is not obliged to pay personal income tax. For money imported into Thailand in 2024, because the said accumulated money comes from Assessable income arising in the tax year in which Mrs. D. is not a resident of Thailand.

6. Question: If it is assessable income received before 2024 but imported into Thailand in 2024, will it have to be taxed? Answer: Tax must be paid if it is income that occurs in a tax year in which the income earner is in Thailand for 180 days or more in that tax year. and bring in that assessable income from 1 January 2024 onwards. The income earner must bring in the said assessable income. Total calculations to pay personal income tax in tax year 2024 and submit returns within March 2025. 7. Question: If it is assessable income received in 2023 and imported into Thailand in 2023, will it have to be taxed? Answer: Tax must be paid if it is income that occurs in a tax year in which the income earner is in Thailand for 180 days or more in that tax year. and bring that assessable income into the year 2023. Income earners must include such assessable income in calculating income tax. Individuals in tax year 2023 and submit returns by March 2024

4. Question: What types of assessable income are subject to income tax according to Section 41, paragraph two, of the Revenue Code? Answer: Assessable income from foreign sources that is subject to income tax is assessable income according to Section 40 (1) to (8) of the Revenue Code. However, if it is assessable income that is exempt from tax according to law Taxpayers do not have to bring that assessable income to pay tax in Thailand, such as inheritance or income received from support from parents, descendants, or spouses, only for the amount of income that does not exceed twenty million baht throughout that tax year. etc. 5. Question: If you use money to buy bonds abroad and receive interest from holding said bonds, later bring the principal and interest back into Thailand. Must the principal and interest be included in the calculation of personal income tax? Answer: No, income tax will be paid only on the interest which is assessable income according to Section 40 (4) (a) of the Revenue Code. brought back into Thailand If in the tax year such interest is received Such person has been in Thailand for more than 180 days.

3. Question: Residents in Thailand means what? Answer: Any person who is present in Thailand for a total of 180 days or more within a tax year, whether in Thailand for a single consecutive period or Residing in Thailand for a combined period of time, regardless of nationality or That person's ethnicity example Mr. A. is in Thailand every day. From January to December 2024, a total of 366 days. Mr. A. is a resident of Thailand in the tax year 2024. Ms. B. is in Thailand. Only in odd months in 2024, a total of 184 days. Ms. B. is a resident of Thailand in the tax year 2024. Mr. C. is in Thailand from January to December 2024, a total of 179 days. Mr. C. is not a resident of Thailand in the tax year. 2024 Mrs. D. has been in Thailand continuously for a total of 250 days, with the first 100 days being in the year 2024 and the last 150 days being in the year 2025 like this. Mrs. D. is not a resident of Thailand in both tax year 2024 and tax year 2025 because Mrs. D. was in Thailand for less than 180 days in those tax years.

2. Question: When does the Revenue Department Order No. P. 161/2023 dated September 15, 2023 come into effect? Answer: Effective for assessable income no matter what year it was incurred. that has been imported In Thailand from 1 January 2024 onwards.

1. Question: What are the principles of the Revenue Department Order No. P. 161/2023 dated September 15, 2023? Answer: Revenue Department Order No. P. 161/2566 is an explanation of the legal principle according to Section 41, paragraph two, that a person has a duty to pay personal income tax. from foreign sources of income When entering into the following elements: (1) a person has assessable income from foreign sources; In the tax year that is in Thailand from 180 days or more and (2) that person brought such assessable income into Thailand in that tax year; or in subsequent tax years Result: If both elements above are complete, that person has a duty to bring in money. That assessment should be included in the calculation for personal income tax. In the tax year received Bringing that assessable income into Thailand Example: In 2023, Mr. A. is in Thailand for a total of 200 days. Mr. A. has assessable income from renting property located abroad. By receiving rent money into a bank account located abroad. Later in 2027, Mr. A. transferred the said money. into a bank account in Thailand, Mr. A must bring the said assessable income that have been imported into Thailand are included in the calculation for personal income tax for the tax year 2027.

I am thinking along the same lines. Paying up wouldn't be a problem, I can afford it. But wasting 3 or 4 months a year getting documents translated, stamped, legalized, notarized and authorized for the RD... I might spend these 3 months outside ofThailand, preferably during smog season. Adding these 3-4 months to my yearly holiday of 2-3 months.

This would be the logical conclusion of Q8 and Q9. I think it would work the way you describe it, 2024 and 2025 only. But another poster has warned already that if you repeat this forever they probably won't accept it.

Thanks a lot for the link. Q1 already answers one question that is often asked: income from years past, is that still considered income (or is it savings)? How far will they go back? In the answer, they go back 4 years - that gives you some idea. Q2 doubles down: "no matter when that income was incurred" (in Q9 its 17 years) Q8 endorses the obvious solution: bring your foreign income to Thailand in a year in which you stay less than 180 days in Thailand. This solution was mentioned in the main thread, it had been recommended by a big accounting firm. Q9 clarifies once more that only foreign income from years in which you were a tax resident in Thailand will be taxed (when you bring it into Thailand) - so all your saved income from the time you lived and worked in farangland will not be taxed.

What a lame excuse for posting something factually not correct.

No, it seems to depend on whether you got pink card first ( > TIN will be the same) or TIN first (2 numbers). Nothing to do with work, I know retirees who have never worked here can have both alternatives.