J Branche

9 minutes ago, saintdomingo said:

Mike I am expecting to transfer in approx, 600,000 baht to pay for hospital treatment (my status is extension of permission to stay based on non-O Retirement) any likelihood they would give tax relief on this.

Yes I know, my fault for not having it here in the first place.

Do you have documentation to Prove this is Foreign Income that was Earned and Assessable prior to January 1, 2024?

Verify with Attorney or Thai Tax Professional but 

https://www.rd.go.th/21/page-2.html click on 21 November 2023

And 

Google.    thai revenue department FOREIGNERS_PAY_TAX2024.pdf

Are from the Thai Revenue Department website and current and published "Official"

1 hour ago, Presnock said:

As a matter of fact based on forum members' reports (yeah how reliable is that?) even the local RD folks have not been briefed on ANYTHING at all about this and the possible ramifications of such activity so since the 180 day residency is quickly approaching, it would seem rather necessary for something official should be aired for those possibly affected as many not to be affected may leave early before any possible effect other than to have Thailand lose monies instead of gaining any.  Just saying...

Stop confusing people and spreading misinformation.

The information has been available since September 2023,

Thai Revenue Department is the Official Tax Authority in Thailand   rd.go.th
Go here https://www.rd.go.th/21/page-2.html click on 21 November 2023 document also know as Order P. 162/2023  signed by the Director General of the Thai Revenue Department (This document was posted in Thai Only)  Google Translate will translate PDF to many different languages 

Additional Reference 

Google. thai revenue department FOREIGNERS_PAY_TAX2024.pdf

US Tax Treaty Reference 

PDF Page 23

US Tax Agreement PDF Page 23

ARTICLE 20

Pensions and Social Security Payments

 1. Subject to the provisions of paragraph 2 of Article 21 (Government Service), pensions and other similar remuneration paid to a resident of a Contracting State in consideration of past employment shall be taxable only in that State.

 2. Notwithstanding the provisions of paragraph 1, social security benefits and other similar public pensions paid by a Contracting State to a resident of the other Contracting State or a citizen of the United States shall be taxable only in the first-mentioned State.

If THIS information from Official sources is Not Accurate, Please share the email from the Thai Revenue Department stating otherwise.

6 PAGES Of Random Useless Chatter

Thai Revenue Department is the Official Tax Authority in Thailand rd.go.th

Go here https://www.rd.go.th/21/page-2.html click on 21 November 2023 document titled

"Questions - Answers about paying personal income tax according to Section 41, paragraph two, of the Revenue Code"

"The provisions of paragraph one shall not apply to assessable income arising before the date 1 January 2024"

Also known as Order P.162 /2023 signed by Director General of the Revenue Department

Supporting documentation in English,

Google. thai revenue department FOREIGNERS_PAY_TAX2024.pdf

Dual Tax Agreements and Treaties 

The US and other Tax Agreements are Still Enforce and should be complied with.

US Tax Agreement PDF Page 23

ARTICLE 20

Pensions and Social Security Payments

 1. Subject to the provisions of paragraph 2 of Article 21 (Government Service), pensions and other similar remuneration paid to a resident of a Contracting State in consideration of past employment shall be taxable only in that State.

 2. Notwithstanding the provisions of paragraph 1, social security benefits and other similar public pensions paid by a Contracting State to a resident of the other Contracting State or a citizen of the United States shall be taxable only in the first-mentioned State.

If THIS information from Official sources is Not Accurate, Please share the email from the Thai Revenue Department stating otherwise.

Took me 20 minutes to find this information on Official Websites.

Tax Agreements are still Enforced.

Thai Revenue Department is the Official Tax Authority in THAILAND

3 hours ago, Kinok Farang said:

If this is successful perhaps we could find a way to get rid of the rest of them.

Yes, and put you on the Next Plane Back to your country.

Your lack of knowledge, understanding and compassion Are Not Acceptable in Thailand, Please do us all a favor and Leave.

Thai Landlord demonstrated some of the qualities the rest of Us who live in Harmony in Thailand support and Love.

From my Research CPTL (Compulsory Third Party Loss) is Required by law on Every vehicle registered in Thailand.  Beware this provides low limit insurance for Bodily Injury, Death.  No coverage for Property or Vehicle Damage unless that has been Added to that vehicles insurance.

The Loss Damage Waiver Insurance is very common.   This protects against property damage, and Theft.  As of this writing according to Budget and Sixt website they include LDW insurance in the rental price.

Not Enough information provided.

Some Foreign Credit Cards provide Rental Insurance for Free

If you purchase some Comprehensive Travel Insurance it may include Rental Car Insurance.  (Check policy)

You need to take Excellent Video of before pickup and after Rental car return to prove condition.  My experience was in Portugal were daily rate was equivalent to

$10 a day, Insurance was $5 a day.  Guy accepts return and gives me receipt. I ask if he is going to inspect car, "No, You bought Insurance which will fix any damage"

You do Not need to buy Rental insurance from Rental Company they should accept Any Thai Rental Company insurance if you found much lower rate.

This mentality/behavior will take years to change.   Thank You Thailand for at least starting the changes and listening to people/society.  

My very basic understanding is that this was more acceptable in the past. As mentioned and proven in Video some take it Way to Far.  Police = provide help/assistance act with knowledge and understanding to resolve issues fairly.

A motionless person is not a Threat or Danger to Anyone.  Hope media will report on this case from courts until verdict.

We can All do better to help less experienced and knowledgeable people to understand and resolve issues without Physical Conflict.

I would first advise to create an expense list to understand what and total spent per month, track for at least 6 months.  Next review all income after taxes.  

Are you spending more than you earn?

Do you have excess money that can be better invested?  Find the best, high quality, most consistent performing ETFs, step into them if the current market is trending up.  Step= invest 20% or similar amount and add more when the Investment is providing positive returns.   A lot of great investment resources but only rely on high quality info and resources NOT someone on YouTube 

18 hours ago, zzzzz said:

cheaper in Cambodia:
alcohol
Cigs
Some American cereal
American peanut butter
Refried beans ( for tex mex food)
Indian food in restaurants
CHEAP rooms
some uneatable street food  5555 

everything else.... Thailand wins

Thank You for contributing so others are better informed and aware of what to expect when visiting Cambodia.

11 hours ago, Eddie45 said:

I posted because this is my opinion on the situation. Sorry if it upsets you but not everyone is going to think the same as you. The information you posted. I would take this with a pinch of salt. It could be changed in a heart beat. 

Eddie stop spreading False Misinformation or you will be Reported.

This is an order from the Thai Revenue Department available for Anyone to review.  Eddie, If you are going to continue to live in

Thailand you must know where to find reliable, credible information.  Additionally you must know what resources are available to

help answer your questions. (Thai Revenue Department Website https://rd.go.th/landing.html (Chrome Browser ability to Translate Thai to English)

Your Citizen Country and Thailand Dual Tax Treaty if created.  Thai Expat Companies (Tax and Legal) with experience and posting videos to

assist with understanding the changes and how it will impact Foreign Source Income for 2024.

Your Citizenship Embassy additionally offers guidance and assitance on where to locate information and resources in Thailand.

Always check and verify recipients name. That little bit of time will save you hours of time and added expense to recover the money.  

Thank You for the detailed story.  I am sure it will help all of us better understand the process if this happens to someone.

The lady in Receipt of the money Clearly committed a crime.  The family was notified, the Police report created, the date and time of the withdrawal and the Receiver had no relationship, refused communications, and knows the money was Not hers.  Not a Gift

You live in Thailand.  Thai culture and customs.  They don't accept foreign credit card, No problem, pay with Cash, Bank App.

No a big deal for Thai People, 

This is what living in Harmony and Thailand is about

Also Reference Thailand Revenue Department Order

No. P.162/2023 issued 21 November 2023

“The provisions of paragraph one Section 41 shall not apply to assessable income arising before the date 1 January 2024.”

NOT TAX ADVICE, I interpret this as keep Clear, Documentation of Source (Pension, Social Security, Wages, Investment), Proof that this was assessable before 1 Janurary 2024 and the Balance showing the amount assessable Before and After 1 Jan 2024 so there will be little confusion.  No unjustified taxes.

Also reference YouTube Channel

Expat Tax Thailand  I believe he answers a lot of the common questions 

Additional Be Aware that the Same Deductions and Exemptions are allowed and applied to Foreign Sourced Income Remitted to Thailand

unless otherwise specified.  Single Person 60,000 baht deduction, actual policy cost not more than 25,000 Baht for Health/Medical Insurance Policy from THAI Business.  I have Pacific Cross or (Pacific Cross Health Insurance PCL) office Bangkok since they are licensed, registered and have office in Thailand they should qualify.  Wages receive a deduction, Check on percentage.  After all these the first 150,000 baht Remitted is 0 Zero tax.

So effectively the first 210,000 Baht is remitted 0 Zero Tax. 

So you live in Thailand and STILL do Not understand Thai Culture.

Living in Harmony ranks very highly in Thai Society.  I'm sorry for your struggles with payment but this is THAILAND.

Things are different, the systems are different, the processes are different, the fees are different, the taxes are different.

We all here could tell stories of our struggles with transitioning and understanding Thai Customs and Culture.

You chose to let it make you angry or laugh in amusement.  

Thank You for contributing so others understand to ALWAYS have a backup payment method available.

11 hours ago, Eddie45 said:

In my opinion that smart thing to do is not become a Thai resident if you arent already a Thai resident until these new tax rules have been established. 

Eddie,

Why Did You Post.  This is a forum to contribute, help and share information.

Please reference Thai Revenue Department Order

No. P.162/2023 issued 21 November 2023

“The provisions of paragraph one Section 41 shall not apply to assessable income arising before the date
1 January 2024.”  

My Interpretation Any Foreign Assessable income that you can document and prove was Assessable and Earned prior to

1 January 2024. Pay 0 Zero Tax when Remitted to Thailand.

On 5/23/2024 at 11:32 AM, Random8 said:

I don't like the way the Thai remittance/income tax situation is developing (or not developing, still too many open questions), so I've decided to spend 190 days outside of Thailand in 2024.  I will reevaluate in 2025 once the tax situation is clearer. Also, I'm setting up my finances to make my 2025 Thai tax burden as close to zero as possible.

 

In Thailand, I'm currently on a 1 year retirement extension of a Non-O visa (800k in the bank).  I went to Cambodia and purchased a 6 month retirement visa there.

 

On my way back to Thailand (I purchased a reentry permit before leaving) the Thai immigration officer (land crossing, Poi Pet) took a long time processing me through.  He kept looking at the Cambodia retirement visa, back at me, back at the visa, over and over again.  It's as if he wanted to object in some way, but wasn't willing to start the discussion or whatever.  Maybe his English skills weren't up to the task.

 

Is anyone else traveling with two retirement visas simultaneously?  Have you run into difficulties with either immigration department?  The Cambodian immigration department apparently didn't object to issuing a retirement visa despite my having an active Thai retirement visa.

 

Will Thai immigration (Udon) object to issuing a new 1 year extension if they see a Cambodian retirement visa in my passport?  Will they say I don't need a one year extension because I don't plan on staying 1 year?  In my opinion, it's none of their damn business, as long as I comply with their 90 reporting requirement, but they won't be interested in my opinion.

 

Thanks in advance to those who can share their similar experiences or an educated guess.

So the Title should be I do Not want to disclose my foreign earned income situation and No one from Thai Revenue Department has

Personally visited me and explained how the Thai Tax policy will impact you?

There is some good information surfacing recently.

Youtube search

Q&A Thailand Personal Income Tax on Foreign Sourced Income

From Expat Tax Thailand I believe provided a lot of useful information 

5 hours ago, Bangkok Alex said:

Hi everyone,

 

I apologize if it has been answered in other threads.

 

I am currently in the search for a new condo to buy in Bangkok.

 

From what I understand, I'll have to pay a 25% tax on the money i send here if I spend more than 180 days in Thailand in 2024.

 

Been living here a long time and not looking forward to spending 6 months abroad.

 

Can you please confirm if this is actually the case? French nationality if that even matters. 

 

I'm sorry if my post sounds naive, I haven't followed the tax news much as I didn't expect to purchase a new property until recently.

 

Also, I'm not interested in opening a company.

 

Thank you so much in advance.

My advice as a Real Estate Investor and Landlord is Do Not Buy 1st.

Rent a similar unit in the building.  Any thing you like or dislike about this Condo will become clear only when living in building.  The transfer tax is paid each time condo sells so unless you have plenty of money and okay with possibility of renting out condo, Rent First.  Additionally if you are going to be in Thailand long time, Do not be in a rush to Rent or Buy.  Low Season may offer more availability.

Was this money you earned before or after Jan 1, 2024.

Can you prove this money was foreign sourced and earned prior to Jan 1, 2024?

https://www.rd.go.th/fileadmin/user_upload/lorkhor/newspr/2024/FOREIGNERS_PAY_TAX2024.pdf

Reference PDF Page 2 and Chart PDF Page 3.

Or Google thailand revenue department foreign-sourced income tax 2nd listing down

The way Interpret this clear statement is foreign sourced income earned Prior to Jan 1, 2024 is 0 No tax.

The possible difficulties or challenges I foresee is. Taxis lost revenue and their ability to influence Decision Makers.  The timelines and completion finish dates are very ambitious.  The cost, where will money come from and is there the ability to add another 30% or more to that price when the contractor complains.  The train bids will change.  The tourists may decide to go elsewhere because of traffic congestion and time wasted going somewhere so tourist dollars funding project could decline.

14 hours ago, Callmeishmael said:

Have you ever tried to buy a real rat trap in Thailand?  The spring loaded kind that will kill a rat? 

 

They only sell the non-lethal traps here, so people trap rats and then release them a few blocks away.  This doesn't solve the problem, it just relocates it.

 

I finally solved my rat problem by acquiring a furry, purring anti-rat device!

You do understand basic Thai culture and Buddhist beliefs?

Thai's place living in Harmony with their environment Highly.

A friend told a story about having to wait for his Wife to be away for a day so he could hire an exterminator for Roaches and Ants.

If do something to a Soi Dog and local Thai's are around there could be an argument. 

With the trash, shelter with tarped wrapped chairs and water sounds like prime environment for something to live

For US the wage earned for same job when converted may be 2.5 to 3 times what a Thai earns.

When Tourist are on Vacation they generally are more open to paying more for the same thing they would be more price aware with in day to day lives.

In tourist areas some taxis operate around everywhere, some want to work by the job price or fare.

My advice for taxis are use Bolt/Grab to determine a price for trip.  If not metered Taxi use your calculator to confirm agreed upon amount so their is less chance of conflict or misunderstanding.  Yes, as in Phuket some are opportunist and want what the market will pay.  

For attractions it is best to be prepared with your Long Term Visa, Thai License.

If with Thai person have them buy ticket why you stand away to avoid the challenge

Foreigner is Not defined by these places.  I know some water parks, aquariums, and other attractions accepted my Passport Retirement Visa, Thai Drivers license to accept the Local Price.

Lastly remember the benefits of living in Thailand, Cost of Living, and it is Not others problems if you can't afford something due to lack of research, planning, earning, and saving for your Retirement 

A friend mentioned that Charles Schwab offered great rates and when he checked the total to

exchange money was less than the current Wise Transfers Fees.  He is American so anyone else would need to check if this is available.

My limited knowledge with some Thai people I know is they are not paid a 

living wage.  I am trying to understand if they list their expenses how much they are underpaid.  These are people living the life of someone you consider poor in the United States.  

As we know Math is challenging for some Thais and most people never write and track a budget to understand their income and expenses.  Additionally in Thailand the cultural believe of going to temple or performing a task could bring you good luck.  Lastly some Thais do Not know that resources are available on the internet and seldom look for answers on internet 

There is the ability to transfer to Wise (exchange rate is up) then transfer in when needed, this may help offset the added fee.

What drop down option would you select if you want to gift money to girlfriend or Thai person?  

Has anyone verified money transferred directly to another Thai persons bank account is the Thai persons Tax responsibility?

My limited experience is Thai girl will order and expect a foreign boyfriend/husband to pay.  If you do Not want to pay go to the server tell them who is on your bill. Explain to girlfriend that they are not your friends (Foreign boyfriend, friends)  If girlfriend wants to pay from her money (allowance) okay.

Limited experience but they will not ask if they are on your bill, You or girlfriend invite or mention others joining it is Required for the foreigner to inform Thais who is paying for what.  Different customs here.  Was in Ecuador and if you invited someone to restaurant or bar it was common for you to pay.

Do Not be insulted, Most or all have been educated on this custom by paying the bill.