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A googles got me to the www.thaiembassy.com with OOPS! NOT a Thai embassy FAQ page. Disregard! This website is managed by Siam Legal International - a law firm in Thailand

I believe Cambodia is also moving this year to tax global income for tax residents. So far, all I've found is pending legislation to tax global salary. Nothing about passive income. I could see having "retirement" visas in both countries. Spend five months each in Thailand and Cambodia. A month each in China and Vietnam as tourist. I'm already taxed by the US on interstellar, and probably multidimensional income, and don't consent to paying an extra $10,000+ per year to pay for luxury watches and aircraft carriers. I've already got ten supercarrier fleets (and more under construction!) to support!

You could buy an elite visa for 100-150K baht per year and not pay income tax.

Was that the 'free' south that cancelled elections and refused to carry out international accords when they realized 'their guy' wasn't going to win? Wasn't that the illegitimate autocrat ruler that killed or imprisoned the opposition? Why, yes. Yes, I do see the similarities. Perfect example of why we shouldn't meddle in foreign nations' internal affair and initiate regime-changes. Let's hope the US regime doesn't send in the troops after the inevitable Tonkin Bay false flag. I don't want my country to be responsible for the deaths of another million civilians. Do we need to wait for the Orthodox Catholic monk to self-immolate protesting persecution by the 'free' regime in the streets of keeeeeeeeeve?

That's a relief, albeit temporarily. I was under the impression that if approved, it would take effect in January 2025, with tax returns due March 2025......meaning 2024 income would be assessable. So it's the assessability that begins Jan 2025, with first tax return and payment of worldwide income March 2026. That gives us until end of next June to effectively "bug out." Does this mean that the pending rule change on taxing remitted funds will be in effect for about a year until the global income supersedes it?

Start January 1st, 2025? So anyone that's been here from the beginning of the year thru June 29, 2024 (day 181) will owe tax due March 2025. You have 3 weeks to make your escape.

What are the odds it will be approved and announced on the 181st day of the year?

There's good news and bad news. No, wait......it's all bad. Assume the first sentence is now incorrect, as the remittance system goes away. The second sentence is a killer. If you sell stocks or mutual funds for a $50K gain, and you offset this with a $50K loss to lower your US tax bill, you'll still be liable for tax on $50K assessable income in Thailand. This will add another couple thousand dollars to my annual Thai tax bill! Amazing!

Hmmmm................... $0 tax due in the US following IRS policies, but assessable income would result in approximately $10,000 tax bill in Thailand. Every..........year.

Then the foreign account holder must file a tax return to claim a refund the following year.

How about an example for a US citizen classed as tax resident in Thailand? US citizen, aged 50-65, retired not working, NO salary, no IRA contributions, not collecting social security, married to Thai filing separately on IRS 1040. Income: Ordinary dividends: $15,000 (bonds and stock ETF’s) Interest: $200 Capital gains: $43,250 (mainly stocks/etf’s held > 1 year) Total income: $58,450 < ------- assessable by Thailand IRS standard deduction $13,850 Taxable income: $$44,600 US Tax due: $0 (calculated using IRS capital gains worksheet, 0% LTCG tax for first two tax brackets) Thai assessable income at $1=฿36.6 ---- > ฿ 2,139,270 Allowances: Personal allowance: ฿ 60,000 Spouse allowance ฿ 60,000 Health Ins allowance ฿ 25,000 Taxable income: ฿ 1,994,270 Taxable Income (baht) Tax Rate (%) Tax (฿) 0-150,000 Exempt 0 more than 150,000 but less than 300,000 5 7,500 more than 300,000 but less than 500,000 10 20,000 more than 500,000 but less than 750,000 15 37,500 more than 750,000 but less than 1,000,000 20 50,000 more than 1,000,000 but less than 2,000,000 25 250,000 Total Thai tax due: ฿365,000 US$9,973 Thai tax rates are 10% for dividends and 15% for bonds, likely only for thai stocks/bonds. foreign stocks/bonds would be taxed as regular income. US capital gains can be offset by capital losses. Unknown if this applies to thai taxes. If not, anyone tax loss harvesting will be in for a big surprise. Thai tax can be taken as a credit on US taxes. Don't owe $10,000 to the IRS? Can carryover the credit for next year. wow.

You don't understand. Putin will give/grant/donate/loan wunderwaffles to various nations or groups fighting US/NATO oppression/aggression. Putin will provide training and support and intelligence and targeting coordinates. Putin will grant these countries/groups fighting US/NATO unprovoked aggression the right to strike targets within the US or NATO or any of the 800+ US bases worldwide. Putin won't physically push any buttons, thus Russia can not be considered an active combatant. Can't blame Russia, cause they dindunuffin! That's the "rules-based" international order in action!

I was not clear enough. This was about capital gains on sale of stock. No cap gains tax due on Thai stocks. Cap gains tax at regular income rate on foreign stock.

You no unnerstan. Me no angry. Me no make unrealized gains. Me sell'um stock after me hodl one year, me make money. Me make'um reallyized gains. Me retireded, me no work, no get saraly. Me get 0% capital gain taxes rate. Why me want pay Thai tax on $75,000?

It seems they have a "salary tax" paid monthly on income derived from employment worldwide. Payable by residents (180+ days). Rates vary from 0-20%. Non-residents pay 20% on Cambodia sourced salary only. I found one source that has their residency not based exclusively on calendar year. "more than 182 days in any period of 12 months" They have a new capital gains tax, delayed several times, supposedly to take affect this year. Looks like it targets mainly properties sold in Cambodia....foreign stocks held outside, dunno.

Okay..............let's say I have $75,000 "disallowed" exemptions and exclusions available in the US. That's currently about ฿2,750,000 assessable income. 300,001 to 500,000 10 500,001 to 750,000 15 750,001 to 1,000,000 20 1,000,001 to 2,000,000 25 2,000,001 to 5,000,000 30 Sure, I'll get a few deductions according to the Thai tax code, but I'd probably be looking at an ANNUAL tax bill of ฿500,000. Just an estimate, I'll do more precise calculations later. It would be cheaper to buy a condo in Cambodia, commute every other month between there and the homestead in Issan. But then I'd have to ask.........why? We'll just sell the house here and move elsewhere. And............no more O-visa extensions in Thailand.

I manage my investments and income to pay $0 tax in the US. There would be no offsetting credit. Capital gains is not taxed in Thailand............Thai stocks only. Foreign stocks capital gains paid at ordinary income rate. Many ifs and unknowns. Wait and see. Update Plan B.

This could get scary. Thailand won't recognize the US standard deduction, personal exclusions, various credits, so these amounts are all assessable and taxable by Thailand? Thailand won't recognize the US 0% capital gains rate on long term capital gains...........currently up to $47,150? So...............I'll be on the hook for tax on at least US$75,000 to Thailand? And obviously any income earned outside Thailand or the US which falls under the US foreign earned income exclusion will be assessable by Thailand?

I understand the way the system previously worked. Under the new system , there appears to be no point in declaring money brought in as savings or taxed, as worldwide assessable current year income is already being taxed. In the brave new tax code, current year income is taxed, brought in or not. Savings from any year is not taxed, brought in or not.

Savings should no longer be relevant if current year worldwide income is taxed. Bring it in, don't bring it in - if earned this year, pay tax. Should be no need to specify savings or income on amounts brought in.

This could be handled as with DLT. English language licenses can be directly converted, other languages require a translation. But what documentation would be required? USA doesn't send a receipt or an official copy of a tax return. All I normally have is a downloaded copy of the return I file electronically. Immigration won't accept my downloaded/printed bank statements, so I doubt the tax office will accept potentially photoshopped tax returns. And while the kind and gentle taxfolk are perusing my "official" US tax return, what numbers are they considering as assessable? Total income, adjustments and deductions, US taxable income? Will Thailand recognize exclusions on income available to US taxpayers, IRA/Roth, Foreign earned income, capital gains for certain tax brackets - income that may be claimed on US tax returns, but not taxed? Does this mean the amount brought in to Thailand will no longer be a concern, as worldwide income will be assessable and taxed, whether brought in or not. This would suggest that the allowance for bringing in savings would no longer apply. And would this eventually be linked to the immigration process, whereby an official, stamped Thai tax return.....not a photocopy....will be added to the checklist for extensions? I'm so excited to learn about potential new places to reside.

Perhaps he though he was a republican? George H.W. Bush Narrowly Avoided Being Eaten by Cannibals 74 Years Before His Death Although Bush undoubtedly felt extreme relief as he was rescued, he'd later felt even more so when he learned of the horrors he'd managed to escape. On that mission, nine U.S. service members ejected from their aircraft, but only Bush survived. The others were captured by the Japanese. They were beaten, tortured, beheaded and then several were eaten by the Japanese soldiers.... https://www.newsweek.com/george-hw-bush-narrowly-avoided-eaten-cannibals-74-years-death-1243761

Totals go up when there are more illegals. Solution, stop the illegals. 10,000 murders committed by native born or naturalized Americans is 10,000 too many. 10,100 murders with the unnecessary 100 additional murders committed by illegal invaders is a crime not only by the "scary people", but also by the government that refuses to address the problem. Secure the border and then use the "savings" to address policing our native born "scary people."

Moving goalposts is a misdemeanor. Still a crime, though.

"Illegals" are, by definition, committing crimes.