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Correct. There is no field on the form to claim a DTA exemption, thus no way to deduct NON-assessable income from you PIT calculations. Thailand permits taxpayers to self-determine which income is assessable, and only enter taxable income on the forms. Non-assessable income is invisible to the system. There are two posters here that claimed TRD officials showed them they could deduct it, but they entered that into a field to deduct income already reported on Thai half-year tax returns. This would be done manually by the TRD officer, and would require a copy of the half-year return if you tried this at home. Not possible online. Note neither of those posters filed yet, so this is still unverified.

Hi Jim! I have an unrelated but related question, and this seems to be the only active tax thread now. Got my 1099's and was figuring US taxes last night, and something came up that is dear to all our hearts. Foreign tax credit. In other threads we talk about DTA's letting us take 1:1 tax credit if Thailand taxes our already taxed income, or home countries having to eat the tax if we pay Thailand tax. But nobody knows. As to the US, it doesn't seem to work that way. I've got $1500 foreign tax paid via ETF's, and a tax due of $250 due to an unexpected late-Dec special distribution. I try to manage investments to avoid paying tax, and was at $63K total income. Putting the foreign tax on a 1116 has me calculate the percentage of foreign income in my total income, and using that % to calculate the amount of credit. In my anecdote, I can only take $75, but can carry forward to next year. Alternatively, I can skip the 1116, and take up to $300 of 1:1 tax reduction, bringing this year's tax due to zero, but losing the carry forward and potential use of 1116 in the future. Do I have that about right? Any word yet on how Thailand manages foreign tax credits.

Thanks for agreeing it's rayciss, yo.

If you have ancestors who came from ITALY, regardless of melanin content, no, that would not be rayciss. Were there BLack italians? Sure, just ask Netflix 'bout Cleopatra. As for Wakandans, they can claim kinship to Septimius Severus. If you have no ancestors from the country in question, but are granted DEI points for skin color, well, dass rayciss, dawg.

Why, that's rayciss!!!!!

And Zelensky will move non-existent panzer battalions on his little war-room diorama in his Fuehrerbunker. And Steiner will assault Stalingrad any day now, with air cover provided by the Ghost of Keeeeve. And the suitcases full of benjamins and coke will be loaded aboard the helicopters ready for take-off............

Either inheritance or gift, she won't owe tax on the principal. Capital gains (not taxed in US for non-resident alien), if ever remitted, will be taxable as ordinary income, but she'll keep that portion below her TEDA, so still no tax. And as long as she keeps it offshore, she can earn 10% or higher on her investment, as opposed to 1% here in Thailand.

Why make myself expendable? Planning to start off with a million a year until we figure everything out. Can make larger transfers as I approach my "use-by" date.

A few notes on that: Easy online account setup, takes 10-15 minutes at most. Need scan of passport ID page, and something proving residence, like a utility bill. We used her ID card, they had it translated. I used my Navy Federal statement with Thai address for my account. No beneficiaries permitted on this account. Your domestic Schwab account will require the IRS tax clearance (may take a year!) unless you have a stateside law firm handle your will. No minimum balance. Can open with zero deposit. Wife must fill out W8-BEN form and list her Thai ID number to qualify for DTA benefits. DTA provides for 15% tax withholding on dividends and interest, instead of the standard 30%. No tax on capital gains!!!!! Schwab sends withholding direct to IRS and reports. No need for wife to fill out a US tax form. I will sell funds in my Fidelity brokerage, pay any US tax on capital gains there, send cash to Schwab. Well under the gift caps, even for foreign spouses, so no US reporting required for me. We will print off an annual "gift transfer certificate" each year with all relevant info to declare her annual xmas present I am setting up a Standing Order to allow online transfers from my Schwab account to hers. One way only, cash only, so no questions about this being a shared account, and no problems with transferring shares with a different cost basis than NAV. She will buy capital appreciation funds with minimal dividends to reduce any tax withholding.

Form PND90 in English: https://www.rd.go.th/fileadmin/download/english_form/2023/220367PIT90.pdf Instructions for PND90 in Englsih: https://www.rd.go.th/fileadmin/download/english_form/2023/GUIDE_90_66_Complete.pdf There are many words on those five pages, but most won't apply to you. Get the TRD office to help fill in the first time. You need your and wife's ID numbers, address and age. Confirm that you get the over 65 deduction. You need your total pension amount remitted, and claim the 100K income/pension exemption. If claiming interest tax, you need total interest received, total interest tax withheld and the bank's TIN. Enter amounts of any additional exclusions - life/health insurance, social insurance contributions, etc. If you don't want to refund the interest withholding, you don't have to request it. If your income is low enough you won't pay tax, you don't have to claim any additional deductions. Everything else is automated if filing online. Next year you and your wife can do it from home in ten minutes. Other forms available here: https://www.rd.go.th/english/65308.html If you aren't claiming an interest withholding refund, I believe you can use the shorter 3-page PND91, income ONLY 'derived' from employment.

My wife now has her very own individual Schwab International brokerage account. When I am no longer here, my assets will be deposited there. She only has to bring in what she needs, and can remain invested outside Thailand. In the meantime, I can gift her a million baht a year, so that when the time comes, she has funds available. The IRS can take up to a year to produce the tax clearance certificate needed to release your brokerage account. (I believe not needed if handled by a stateside law firm), We did confirm with TRD that gifting rules apply to gifts made into an offshore account.

Musk is a wee tad busy right now. You'll have to take a number.

Deflect, deflect, deflect. But they've already been invaded and bombed. Won't make much difference, then.

Deflect, deflect, deflect! Cancel martial law, then hold a (s)election. Surely all those conscripted autistic teens and crippled elderly will stay at their posts once the nazis aiming machine guns at their backs leave their positions covering the expendables to vote.

Nothing to be a'scairt of, Tom. Some TRD offices send out tax forms as a courtesy service to prior-year filers. If you need to file, you have a tax form. If you don't need to file, you have an unneeded tax form.