anrcaccount

IMO, this is one of the only useful and helpful comments on this thread. This is the same thread discussion as occurred in June when the same story was published, the same hysteria. Nothing new, nothing has changed. Any member making a life choice or decision based on this "news" , is IMO, very unwise to do so. E.g. the members saying they will leave the country, or spend less than 180 days. Don't make any rash decisions until time has passed, and anything actually changes. Right now, it's all speculation.

Very well said. This is why the incessant speculation, what ifs and encouraging people to "prepare", simply causes more harm and stress than if people just waited. These threads and the posters who obsessively discuss each nuance, thinking they are easing peoples minds and being helpful, are in fact being the exact opposite!

This reporting is misleading, and IMO scaremongering, especially the title, "It's happening" This reads like a reprint of an older story ( published June 6th in the BP) with a few words changed, certainly partially copy and pasted. It is unclear whether anyone from the RD has been re-interviewed, and really nothing new has come to light and there's nothing new to report. All that is clear is that the RD is considering implementing some worldwide taxation changes, as was the case earlier this year. In the June report it was "is amending" , now it is "drafting". Nothing concrete. Nothing changed as of today.

On gifts, what do you make of then of the second part of the following statement below ( bolded) from a lawyer at TRD? To me, he is saying if your wife gifts you up to 20M THB, from a foreign source, to your Thai account, it is exempt from being assessable income. Seems pretty clear, that's what he says. @Lorry posted this on another thread, but it's relevant to this one. As some of you don't appear to trust expert tax professionals like the AITA, is this a source you believe? #AskTheEmbassy with Khun Nathanan Junprateepchai, Revenue Department 41:05 starts about gifts. Kh. Nathanan: "so, example, if you have Thai wife, and you are Swiss, you give Thai wife support, right, then Thai wife will be exempted from tax. Or, in another case, if you stay in Thailand, and your wife is outside, and pay[s] you money inside Thailand, i[t']s a foreign source, right, will be exempt up to 20 million Baht per year"

Are you really defending the journalistic integrity of the Bangkok Post? Now that IS amusing. Surely that ship sailed a long time ago!!! I honestly believe that no one was re interviewed, nothing new has come to light ( we agree on that) and there's nothing new to report. IMO this is just a reprint of an older story with a few words changed, and, OK I'll concede, it's not fully, but certainly partially copy and pasted!

Well said. This "article" contains no new information. It's not even an "update on worldwide taxation". It's simply a rehash of a report originally published in June. Much of the text is in fact identical to that of various articles published/ syndicated on June 5th.

Not trolling. The original article posted June 5 kicked off this thread There's nothing new in the article posted today and many of the words are the same.

It's nothing close to a definitive position. It just repeats the same earlier news, that they are considering taxing worldwide income regardless of remittance. A very long way to go yet, before that could become reality.

I can't link to it. The title of the article June 5th was "New overseas income rules" , and the wording is nearly identical. The article was syndicated by multiple other publications at that time in June. One of the titles of these was "thailand-to-tax-residents-foreign-income-irrespective-of-remittance" , it has it's own discussion thread on here. This article posted today has nothing new.

Article is a cut and paste repeat of the same article, posted in the BP on June 5th. Nothing new, no new information.

Just a rehash of the same article, already published on June 5th., in that same publication. Nothing new, no new information.

Yes, they will tolerate it, as they have done for the past 10, 20 or more years, where a very small/ neglible percentage of expats have filed tax returns. Nothing will change next year. What makes you think anything is changing? It's been " easy" to connect visa / immigration with tax compliance for many years. Expats have been remitting current year foreign income ( technically taxable) to Thailand, blatantly for decades. It's never been enforced. One rule update in the background, not aimed at expats, lots of pointless, speculative forum discussion and you have a classic "storm in a teacup".

Based on the opinion of multiple , established and credentialed Thai Tax advisors, to name two : American International Tax Advisors ( linked to video earlier in this thread) and Mahanakorn Partners(linked to in an extensive interview in previous thread) , the answer is no, that is not evasion and is acceptable. As of now this is allowed. Currently, foreign credit card transactions will not be considered taxable. You can choose to believe these credible sources, or some of what you read on here. Up to you.

I fundamentally disagree with many ( not all, but most) of your views on tax in Thailand, including what is a remittance and what is a payment. My view, shared by prominent tax advisors, there are many but I'll start with Mahanakorn Partners - only a transfer to an individual's own Thai bank account can constitute a remittance. Again, my view, there's no way any foreign WISE transfers to a Thai 3rd party ( payments or gifts) , foreign credit card transactions, or foreign ATM Withdrawals would be possible for the TRD to prove as assessable Thai income.

I sense you are being sarcastic, but I'm not sure why. To me, it's pretty simple. You don't levy PIT (personal income tax) on spending , you levy it on income. Foreign WISE transfers to a Thai account of someone else like a landlord , a gift, foreign credit card spending and foreign ATM withdrawals aren't income, and are not remitted to Thailand by that individual. They won't be taxed in Thailand. The view I have read on here, that these things, in reality (not theory), could be be taxable in Thailand, is IMO, ludicrous. IF & WHEN the TRD actually decides to start enforcement of foreign INCOME remitted to Thailand, the first ( and only to start with) place they'll look - is Thai Bank accounts of foreign individuals, for income.

You're correct here. IMO, even if it is sent from WISE into the Thai Bank account, the remittance is by the receiver, not the sender. So the sender ( tenant) isn't remitting to Thailand. IMO, same logic holds for agift. That's why the gift exemption exists for the receiver, the sender hasn't remitted it to Thailand. It can't be considered remitted by both the sender and the receiver.

Yes. Absolutely no doubt. When was the car park extension built, does anyone know?

You're making this up based on prior ramblings in related threads. Have any of these gift scenarios you state as fact ever occurred and been tested, where the person making the gift has been found liable and paid the tax? Please stop scaremongering, by posting these kind of statements as fact.

No, I don't, my comments reflect the current reality. If this changes , it changes. Currently, it hasn't changed. Speculation, if it changes, it changes.

Another wizard on theory, your posts very similar to the originator of all these threads ML, but you have the same issue in understanding. There's a wide gap between theory / letter of the law and reality in Thailand, as I am sure you know, but apparently on this topic don't understand. Reality: - The Thai government will not try to tax this poster -The TRD will have no idea of this posters existence -Thai Immigration has no connection with any expats tax status ( excepting those who file via Non B's who work in Thailand) - There's no enforcement or cross checking vias entries vis a vis tax -The only expats paying tax are those who either work in Thailand on Non -B, OR have spent too time studying the revenue code and ruminating via this forum, feel compelled try and comply with something that 99% of the cohort that theoretically may need to comply, don't, and there is no enforcement. The only way this poster would pay tax is if they did the following: 1- Waited until they had spent over 180 days in a year in TH. Then tried to go to their local RD and apply for a Tax ID. they'd probably be denied a couple of times at first as the local RD would say, "are you working in Thailand" , " You have work permit?", poster would say no, then no TIN would be issued. 2- So then this poster would need to pay a 'expat tax' agency to facilitate a TIN issued for them , maybe drop 5-10K THB to get this privilege. 3- Sometime after March 31 of the year following the year they spent 180 days here, then work with the 'expat tax' agency to submit a return, using allowances etc to determine if in fact any tax was even payable, dropping more $$ for that service. 4- Sometime after that the poster would have the dubious honor and privilege of being one of the 0.1% of expats who voluntarily file a tax return when not working in Thailand - medal issued!

No problem, you're welcome. Do the reading and it will be clear.

No, its nothing to do with "all disbursement and payments", and certainly nothing to do with outputs, these are your own words , your own misinterpretation. Here, from the Thai RD CRS document for you (table 5, page 61 , please also check the further description column for more info) : note that all of these are only totals and not individual transactions. Furthermore, they are nothing to do with withdrawing via an ATM, or using a credit card. The total gross amount of interest paid or credited to the account. The total gross amount of dividends paid or credited to the account The total gross amount of other income generated with respect to the assets held in the account paid or credited to the account The total gross proceeds from the sale or redemption of Financial Assets paid or credited to the account Now, do you understand?

What a cop out. There is no open issue here. Read the document, under table 4 (for the 3rd time, page 60) it defines exactly what financial information is shared which is only yearly aggregate account balances, does not include individual transactions, excepting the cases of income as specified in table 5. Also, read the wikipedia page on the CRS , I'll even paste the relevant section here for you, below. As you can see from both sources , what resonated with me was that there's absolutely no way that this information shared can include individual foreign ATM and foreign credit card transactions. So, my original point remains, that this is simply misinformation being pushed by 'expat' tax experts, in order to drive demand for their services. https://en.wikipedia.org/wiki/Common_Reporting_Standard The information and its exchange format are governed by a detailed standard, whose details are listed in a 44-page long document.[15] Each participating country will annually automatically exchange with the other country the below information in the case of Jurisdiction A with respect to each Jurisdiction B reportable account, and in the case of Jurisdiction B with respect to each Jurisdiction A reportable account:[16] Name, address, Taxpayer Identification Number (TIN) and date and place of birth of each Reportable Person. Account number Name and identifying number of the reporting financial institution; Account balance or value as of the end of the relevant calendar year (or other appropriate reporting period) or at its closure, if the account was closed. Distributions made to the account (dividends, interest, gross proceeds/redemptions, other)

Sorry, the onus is on you to read my post and then read the document. As I said, Page 60. It defines the financial information reported, which is not at an individual transaction level. While you are there, I suggest you read the preceding and following pages to page 60, to give more context.

The CRS does not require institutions to report at the individual level of foreign credit card transactions or ATM withdrawals. I'll say it again, CRS does not report at that level. Source: https://www.rd.go.th/fileadmin/user_upload/FATCA_File/crs/Thailand_CRS_Guidance_280823.pdf It's a long read, see page 60. Also to note, if an account is opened prior to 16 August 2023 and contains less than 7.5M THB, it is exempt from being reportable. Page 49.