NoDisplayName

Yes, but those are all pre-tax contributions. Withdrawals of a traditional IRA are considered income in the year of withdrawal. Not classed as "earned" income, but still taxed as income by IRS. I don't believe IRA's are covered by the DTA, so would be assessable if remitted, but you get to claim the foreign tax credit, or you could if there were a provision on the tax forms. Roth IRA withdrawals are tax-free in the US, so no tax credit you can't take.

Wonder if local branches have a drop box at reception to collect tax form submissions rather than requiring an interview........

This should be only Thai-source income credits from PN93 and PN94, or the interest/dividend withholding credits from withholding tax claimed in section 1. This would be similar to deductions for health and life insurance premiums only applying to Thai insurance carriers. On my online returns, the withholding tax I entered in section 1 is automatically entered in section 11(13) as a withholding tax credit. I don't enter anything in section 11. That portion is fully automated online. She hacked the system, meaning she fudged the numbers manually. No. 11 item 13. Withholding tax credit and tax credit for tax paid in accordance with ภ.ง.ด. 93 and ภ.ง.ด. 94 When you received income during a tax year, the law requires the payer to withhold income tax for some types of income. In some countries, this is called “pay as you go” or “pay as you earn”. In Thailand, it is called “withholding tax”. The payer is also required to issue you a withholding tax certificate similar to this picture. If the payer refused to issue a withholding tax certificate, the payer is subject to a criminal penalty. You may receive many withholding tax certificates if you have received income from different payers. The form should tell you how much of income tax was withheld. The withholding tax can be used as a tax credit. Other items may also be used as a tax credit, such as: 1. Income tax that you have paid using ภ.ง.ด. 94 (half year filing). 2. Income tax that you have paid using ภ.ง.ด. 93 (advanced filing). 3. Dividend tax credit (only in the case that you have filled in No. 3 item 5. and item 6. The amount is the same amount in No. 3 item 6. Please add up all the creditable tax in No. 11 item 15. This amount will then be deducted from your tax payable in No. 11 item 14. You will have to provide documents to the Revenue Department to prove the amount of withholding tax. https://www.rd.go.th/fileadmin/download/english_form/2023/GUIDE_90_66_Complete.pdf [page 39]

I think you mentioned two offices. Your last meeting was at the main office in Pak Chong as you were in the area. Are you going to the same Pak Chong office, or to the local office responsible for your area?

Or claim it was a gift.

You'd have UK tax records for the year you sold it. You'd probably pay tax on the increase in value, with the cost basis taken from the point it was transferred into your name. (?)

Which one is Carl? Is he the one who said US social security is assessable? Hard to keep track of all the self-proclaimed experts.

Those who have income as specified are obliged to submit the Personal Income Tax Return, along with paying the tax (if any), at the following places: Any local Revenue Department branch office. Post offices, only those located in Bangkok. They can send their tax return by registered mail together with a check or money order for the total tax due, within the tax return submission deadline, to the Revenue Management and Revenue Division, the Revenue Department, 90 Phaholyothin 7, Phayathai, Phayathai, Bangkok 10400 Online via www.rd.go.th or through the RD Smart Tax Application on mobile phones. https://thailand.go.th/public/issue-focus-detail/007_056

I see it as an option for those with Thai employment income or large assessable remittances. By not including interest/dividend income in the PIT calculations (and foregoing a potential refund of withholding tax), the taxpayer may be able to avoid getting bumped into a higher tax bracket.

I think he's bed-&-breakfasting, since most explanations about pre-2024 "savings" seem to revolve in actual cash-in-the-bank. It would work something like this: 28/12/2023- you completely liquidate a brokerage account with $1m USD worth of stocks in it. T+2 would be settlement date (?), so you would then have an actual settled (not pending) cash balance of ~UDS$1 million. As of Jan 01,2024 you have $1 million of cash available to remit as prior savings. What you do with those funds afterwards?: remit the cash as non-assessable buy stocks, sell the entire holding at a loss. no gain = no income = not assessable. buy stocks, sell the entire holding at a gain. remit the entire proceeds, the original capital is not assessable, the gain only is assessable. Then it gets fuzzy: Do the above, but only transfer a portion of the proceeds? no guidance yet as to how the partial transfer is viewed. Can you just remit the capital, and hold the gains overseas, or must each remittance include a percentage of both capital AND gain? What to do with sales of stocks held prior to the cut-off date? Use cost basis at purchase, use value 31 Dec 2023 as value of original capital?capital gains to $1M as of 31/12/2023) Another problem.........they guy that on 28 Dec 2023 B&B'd his entire account valued at $1 million likely owes the IRS a massive payment on the capital gains.

In section 1, I enter total earned, total tax withheld, and taxpayer ID for dividends and for bank interest. The form instructions tell me I only need to enter that information if I want to have the amounts included in the PIT calculations. If I prefer to forego the refund, I can leave it out completely. I don't know if that is available for earned income or non-assessable pensions, or what sort of documentation would be acceptable to upload to the online system. No mention of that option in all the threads, so I'ma'ssume not available.

I have no issue understanding that not taxable means non assessable. I understanded it good enough to file my taxes. How 'bout you, buddy? Better get crackin'! Tax season is 1/3 over, and I don't think Santa is going to be bringing you new tax forms this year.

Huh? Bank interest is Thai-sourced income. Taxed at source. Absopostively assessable. You can exclude it from your tax return if not claiming the deduction. It's already been taxed, so does not need to go through the process again. To claim the refund, you simply enter the amount earned and the amount withheld in the appropriate blocks........on the tax form. Hmmmm..........interesting how they put the option to remove the already taxed income from the total prior to the PIT calculations. Fascinating.

It should not be a major story in Expat news circles, because it does not affect the vast majority of Expats. It only affects Expats that remit ASSESSABLE income into Thailand from overseas. Given that the vast majority of online Expats affected are living day-to-day on a meager non-exempt assessable pension, subsisting mainly on mama noodles, it makes you wonder why Thailand enacted it, in the 1st place. * There will be some Expats outside those that have gotten their finances in order.

Or.........remit only NON-assessable funds. Then you don't need to file a return, and you don't even need a TIN. You don't gotta do nuttin'!

The person that moved USD$300,000 into Thailand, without a plan? and stuck it in a Thai bank for nearly a year? with only one million baht protection? earning 0.5% interest? with 15% tax withheld on that? and doesn't utilize one of the useful visa options? That fellow deserves to pay a 25% stupid tax.

The ICC says...........ah, never mind.

Shirley, it must have been provided.........just below the paragraph where they stated that all non-assessable remittances must be declared on a Thai tax return because of CRS rules followed by Kenya, and making US social security assessable income in Thailand. Didn't you see the big, bold notice where the Thai embassy provided detailed instructions on how to deduct exempt income on the tax form with the specific procedure to take a foreign tax credit? Oh, wait............maybe they meant to consult Youtube videos posted by any random tax agency that clickbaits potential clients by using a web address disguised as the Thai Embassy!

Not only is there a genocide, but deluded supporters are permitted to deny it publicly.

Sure, but he made up for it by resuming the delivery of 2000-lb bombs to complete the genocide of gaza. Priorities.

The money has been sitting in your bank account for fifteen years. Where was the money 31 Dec 2023?......Sitting in your account, cash in the bank. Nothing remitted in 2024. Nothing to declare, nothing to tax. Bank has been withholding interest at 15% for 15 years. Why not file a null return for 2024 and get your withholding tax refunded. While you're at it, you can file 2022 and 2023 and get that tax refunded as well. You'll pay a 200 baht fee one time for the late filings. You'll need to provide bank withholding statements for each year, available from your bank free of charge. If you're notinthailandtoomuch now, file when you arrive.

That only applies to Thai social security payments. Foreign social security and foreign pensions are covered under the DTA's. They don't say that.

Should be fine on pavement, if you don't hit any potholes or rocks. Won't be comfortable though. Wider tires will be cushier. Goggle the specs for the rim, that should give you the max width. Hopefully, more like a 700x35 or even 38. Pick a tube (they usually come with a size range) that matches the tire. Should be stamped on the tire sidewall. As to the pump, is yours rated for high-pressure? MTB type won't pump up the thin, HP tires. I suppose a 12v plug in for 38psi car tires would struggle, as well. If you had a rim drilled for shraeder, you could get an insert adapter to use skinny presta tubes. It's possible to drill out a presta rim for shraeder, but....... That should be the stem length. Rims come in a variety of shapes, with the aerodynamic v-type requiring a much longer stem.

Look, it's a brand-new, 3-hour old video, the man is wearing a gold watch and a fancy jacket, for CRS-sakes! You have to want to believe. Otherwise, you might mention that the TRD website still lists the single payer allowance is 30K...................

I'm assuming only foreigners, and that Thais in foreign countries or with foreign accounts will have to identify their Thai tax jurisdiction on the CRS forms from the foreign financial institutions. My wife did not receive that email from Kasikorn, but she did have to fill out a W8-BEN, and I a W-9, when we opened Schwab Intl accounts last week.