chiang mai

Don't go sexy, this is not a sexy application, it's a simple 1+1+1 exercise, keep it very simple..

Basic spreadsheets for the tracking purposes you require are very simple, they may seem daunting at first glance but adding numbers together and adding entries and dates etc is a real breeze. I suggest you download the program of choice and play around with it doing simple stuff, until you get the hang of it, which will be very quick. And shout if you get stuck, lots of people will help guide you.

WPS Office is also free and it's command structure is much closer to Microsoft. Libre is good but is open source and not 100% road ready plus it updates frequently.

Your answer is incorrect, using JT's example the 20k was not assessable and already in the account, before assessable income was added.

May we please get the terminology correct, it is assessable not accessible, it makes for confusing reading otherwise. The short answer to your question is yes, the longer answer is that it's down to you and only you to state what the funds are, assessable or not assessable and you would be required to prove what you say, if audited. You are under no obligation to remit assessable vs not assessable but you are obliged under FIFO rules to remit the first assessable deposit, before the second assessable deposit, regardless that there may have been not assessable deposits in-between.

Non-assessable income doesn't form part of FIFO accounting from the Thai side at least but yes, you will need to understand in detail all the transactions into and out of the account, assessable and not assessable. If you have three deposits into a commingled account and one is not assessable, there would be no need to prioritise that entry when deciding FIFO for your Thai remittance, you could instead ignore it for FIFO purposes. But of course, you will need to be aware of the "not assessable" deposit because as you say, in the event of an audit you would need to explain why the deposit wasn't prioritised during FIFO and instead it was ignored.

Non assessable income is not a part of FIFO, only assessable income is, even though the account contains commingled funds. It would be down to you to state whether your remittance was assessable income or not. BTW and I suspect you already know this but the term is assessable (as in to be assessed), not accessible.

I suppose if they fast track the proposals and all the planets align, it's conceivable that the new system could be implemented in 2025, if that happens it will be a game changer for many. We heard last year that some DTA's were being renegotiated but we've heard nothing more, perhaps that will be part and parcel of the new order.....it's somewhat troubling..

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I agree

A good point, except, Thailand charges all foreigners much more, for many things so the concept of fairness isn't a priority.

I agree with @motdaeng, it may not be 50k in tax but it only takes a small percentage before the numbers look attractive overall and incentivise TRD to increase them. Longer term expats with assets and family here are probably most vulnerable because they will not want to move, nor will many be able to. It depends ultimately on lifestyle and whether or not 50k a month is considered to be adequate. We live in interesting times.

Agreed on all points

The point I'm trying to make is that the number of people in the tax net has grown year on year for the past 5 years, and not by a small amount. It has been said that the TRD is not capable, equipped or willing to grow the taxable base but the evidence is to the contrary. For the current tax rule change to have any impact, the TRD needs firstly to have the will to expand the tax net and its growth over the past five years strongly suggest they do. If you're the TRD, you want to show that you've been doing your job and either increasing the number of tax filers, increasing tax revenue or ideally, both. Not all expat pensioners will improve revenue but they wont know that for certain until they have sampled them. And in the process, they will find some wealthy pensioners who will pay.

Just for additional info: That 6.25 mill is broken down elsewhere in a separate article, in it says that circa 4 mill were for refunds, leaving circa 3 mill of what have become known as null returns. But let's not lose sight of the main point here. In 2023 there were 11.9 mill tax filers. In 2020 there were 9.55 mill. in the tax system, the numbers of people registered for tax and therefore identifiable by TRD, has been increasing, it's not as though the numbers of people in the tax net are static.

Yeah

Guys, it's Christmas, chill.

Nah....not going there, but thanks for the invite.

If you file a tax return you are regarded as being in the tax net which comprises the total number of people who are registered for tax. From previous articles on this subject, around 3.5 million of the returns were null returns, i.e. people filing returns where no tax or refund was due. Tax return filers do file returns when they have zero returns, those are people who presumably take the TRD Code at face value rather than go with perceived accepted practise.

Yes

He can be the chief, you can be the chairman, everyone else will have to fight you both for the titles, how's that.

It's curious that there is a small group of members who are still trying to convince everyone else that nothing about the tax picture has changed and that nothing will change in the future! The reasoning for these things us varied but includes things such as: Nothing ever happened before so nothing will happen in the future. The TRD isn't sufficiently organised or capable to begin taxing expats. Foreigners are a major source of revenue, trying to tax them would threaten that income stream. There is no enforcement or penalties to speak of so why bother. There various degrees of merit to each of the above reasons but ONLY if you think you understand more about the workings of the TRD than you actually do. For example, do you really know what the TRD does and how they do it? Do you really understand how TRD functions, their effectiveness rate and the degree of risk associated with ignoring them? (Queue the anecdotes whilst we look at some statistics) In 2020 there was 9.55 million people in the tax net. "Out of 9.55 million taxpayers, there were 3.3 million people who had a monthly income of 25,000 baht, the minimum threshold to file tax forms, while the remaining 6.25 million earn less than the threshold". Three years later, the tax net had increased by almost 25%: "There were 11.9 million personal income tax forms filed for the income year 2023, submitted between Jan 1 and April 29, 2024, an increase of 3.34% from the same period last year". It is very clear that TRD is increasing the tax net so somebody somewhere is doing something right and is serious about making more people pay tax. As for the lack of enforcement: how difficult would it be for TRD and Immi. to implement tax clearance certificates or make a tax return filing, part of the visa extension process, it's just another piece of paper! The value of foreigners to the Thai economy: I don't want to debate again what that value is but my personal opinion is that it's not large, that however is not the point. The point is that only a small percentage of expats are likely to leave the country as a result of taxation and they will soon be replaced by others who are better able to tolerate and traveserve the problem. I have to say that I wouldn't want to bet my anecdotal evidence on those four reasons above being completely right, unless of course you happen to be feeling exceptionally lucky and are prepared to double down each year. But of course, if anyone has some hard evidence and statistics, rather than just lots of emotion and sentiment, that might help the argument! Please credit and share this article with others using this link: https://www.bangkokpost.com/business/general/2799906/tax-refunds-delayed-by-surge-in-fake-submissions. View our policies at http://goo.gl/9HgTd and http://goo.gl/ou6Ip. © Bangkok Post PCL. All rights reserved. Please credit and share this article with others using this link: https://www.bangkokpost.com/business/general/2020179/revenue-department-plan-intends-to-add-some-500-000-taxpayers. View our policies at http://goo.gl/9HgTd and http://goo.gl/ou6Ip. © Bangkok Post PCL. All rights reserved.

"and no tax returns have been filed, no consequences". And how does tax protester in chief know this to be fact! 95%......55555555

It is at the discretion of the private hospital whether or not they charge foreigners more, they are legally entitled to do so. I believe (think) the four sanctioned charging tiers are, Thai nationals, ASEAN citizens, foreigners who are visiting, foreigners who are resident. The further away you are from a tourist area, the less likely you will be charged differently from Thai nationals.

I didn't really, Chinese business has operated in Thailand at scale, for decades. CP Group was started by a Chinese family in the 1920's.