NoDisplayName

All of those may be true, but only if they do NOT declare their non-assessable income. Claiming an exemption per DTA or applying a tax credit is currently UNpossible under the current system with the current forms, including the brand spanking new 2024 Thai forms. If you claim the income, it's assessable, and if above your TEDA is taxable. No way around that other than hiring a professional to sit with you in the tax office, explain the situation, and then having the officer tell you DO NOT DECLARE NON_ASSESSABLE INCOME. Congratulations! You've just spent 25k baht for a professional to do what you could have done at home for free in your underwear.

So you do not know. Thanks.

You know this for a fact? Some pensions not taxable in home countries ARE taxable in Thailand. Deductions and allowances in foreign tax systems are not recognized by Thailand. 0% tax brackets in other countries may not correspond to Thai tax brackets. Income that has passed through other tax systems with zero tax liability may be assessable and taxable by Thailand. Income taxed at lower rates will have tax due here, despite already paying once. I have US$60K in long term capital gains, zero tax due because of IRS 0% LTCG bracket. What's my tax on 2 million baht remitted, and where's my tax credit to offset the $10,000 tax due?

I can't find the US SA100 anywhere on the Thai Revenue Department website. Why is that?

Thai forms have no provision to claim foreign tax credit or DTA benefits, and no way to exempt income that has been declared. Shirley, you aren't suggesting I can file UK tax forms with TRD!

Withholding is done by the financial institution. 'Merkans fill out a W-9 form for citizens to provide their SSN or green carders/resident aliens to give their ITIN, then no tax is withheld, unless you have previous naughty dealings with the IRS. The taxpayer will send in any taxes due next filing season. For non-citizen non-residents, the W8-BEN is used to identify nationality and claim treaty rights under the relevant DTA. Tax is withheld on dividends and interest (15% for Thai filers, 10% for Chinese), but no withholding on capital gains, which are tax-free for this category of filer. For these filers, the financial institution transfers the withheld tax to the treasure, reports to the IRS. These taxpayers are not required to file US tax returns if this is their only US-related income.

Cool beans. Now how about a link to the Thai tax forms covering all types of foreign income, income tax paid abroad and DTA's! Thai language forms will do............

You are in the camp of the misinformed. Unless excluded by the DTA, if a tax resident your income is assessable and taxable by Thailand. If you have paid tax in the US, you can apply for a tax credit. You are expected to know the law and comply. Otherwise, just claim innocence because the Royal Police never sent you a personal certified letter informing you that meth is illegal.

Honestly, never got that feeling. Just the annoyance at having to search all the bins for TM-6 entry cards, or having to wait in the long, long, long lines.

No can. Unpossible online. Forms have no provision to claim, or even reference, tax treaties. Can only be done in person, with the aid of a helpful PAID advisor.

And they would'a gotten away with it if they'd simply chopped off some dude's arm with a machete.

Don't fight it. If we're lucky, Thailand will implement some of China's visa rules, like...... ~No 90 day reporting. ~Rules followed consistently at all offices. ~No re-entry permits needed, unlimited in/out. ~No address re-registration when returning from abroad to same residence. ~Worldwide taxation effective after 6 years uninterrupted tax resident, but clock resets anytime outside China for 30+ days. ~No corruption in the immigration.....oh, we better skip that one!!!!

That legislation hasn't even been written yet. Tax residents only pay tax on assessable income remitted. Would you prefer the US system, paying tax on all worldwide income remitted or not, and annual reporting of all financial accounts worldwide?

You don't understand. Kamala coulda had class. She coulda been a contender. She coulda been somebody, instead of a worthless, word salad-spewing, token DEI hire, which is what she am, let's face it.

Minimum required balance has gone away. $0 to open, no minimum.

All US customers with a SSN/EIN will be eligible to opt in (SSN/EIN verification will be required during opt in, unless already verified). We need this to verify your tax information so that we can report your taxes correctly. Please note this feature is not available to residents of New York and Alaska at this time. https://wise.com/us/interest/ Nothing has been remitted to Thailand.

At Wise, dollars pay 3.92, pounds 3.32, and euros.........1.61%

I recall reading on the Wise website somewhere that their jar balances earn a whopping 0.5% interest. This would be bigly betterer! Earn up to 3.92% APY with our interest feature, FDIC insured. Think immigration will accept this account to hold 800K?

I know, right? And you'd think they'd be all over supporting Musk, representing their claim of illegal wakandan immigrants being rocket scientists and brain surgeons in disguise!

Not only that, he's an African-American immigrant! What ever happened to "diversity is our strength"?

so you do have access to the new rental contract on line. download from line and print. or show your line app to the io.

You don't necessarily need a rental contract. You have the owner's ID and tabian baan. A letter from ex-gf stating you are residing there is sufficient. You don't need to show payment.

And for another thing, FATCA works similarly, in that us subjects of Uncle Sam must self-identify when opening accounts in foreign countries. I opened an account at Krung Thai last month and was handed an IRS form to fill out. Same as with CRS, the financial institution needs to know where we are tax resident, which would simply tell them what code to put in the "other tax residence" field in the annual report of account information. TRD/BOT would then have that residence code for their FATCA/CRS reports, or may be used to respond to requests from foreign tax agencies. Interestingly, I was required to fill out FATCA forms when opening bank accounts in mainland China in the ~2010. Opened three accounts ~2018 at three different banks, and was not given IRS papers to sign. China signed onto CRS in 2015, and implemented a couple years later. They do not, however, submit to FATCA overreach. As to reporting in the USA, i have to declare worldwide income, remitted or not. I then have opportunities to claim exemptions and TDA benefits. There is no provision to declare remittances. Unknown how Thailand will implement worldwide taxation, if ever. China does, but tax does not go into effect for foreigners until they have spent 5 years in country tax resident. Good news is, the clock resets anytime they spend 30+ days outside. Would that Thailand would legislate that!

Up to you. If not assessable then not required to report. If not assessable, no provision to report. If not assessable and reported, no provision to exempt. If not assessable and reported and not exempted, then taxed. If you report non-assessable remittances they are deemed taxable. If over your TEDA you will owe tax. Look, YOU went to one office (Pak Chong?) where some random uninformed official told you incorrect information, refused to admit her error, and proceeded to deduct the reported income in a manner not allowed for under the tax return instructions. You can't do that online, and no other office or officer is likely to permit that. The lady just wanted to get rid of you before you called out her misteak. Any other tax office will tell you not to report that which need not be reported.

No, they report foreign income because the country in which they are tax resident wants their cut. If the remittance is non-assessable/exempt/non-taxable, Thailand doesn't want to know about it. We, meaning you, have nothing that says otherwise except a misquoted interpretation poorly translated appearing in an infotainment tabloid.