anrcaccount

B OK, that's good, care to share which firm? I guess then that some of the opinions you're posting on this thread, are your own and not based on their professional advice....................

Si don't believe me then. I have taken tax advice from professionals but I am sure you have a sour attitude to that. Up to you Let's guess, did you take your advice from: A) a slick presented, foreigner fronted 'expat' tax specialist that sprung up less than 18 months ago? Or B) did you take it from an established firm that has actually had experience filing Thai taxes , and dealing with the TRD, over many years?

No, you've been told multiple times and shown clear sources that prove CRS compliance has nothing to do with declaring "foreign income" , yet you continue to post misinformation, bordering on conspiracy theories. Thailand doesn't need to do anything, apart from ask its FIs/Banks to share a data file once a year, to comply with CRS. Based on the sources available, this hasn't even started to occur yet. You've also been shown, that these SA106 forms pre-dated the CRS data sharing regulations, so again, the link only exists in your head.

Including all the LTR categories, there have only been 6,000ish visas issued in 28 months (from Sept 22 until Dec 2024). If it wan’t declining, there would be no need to ease the requirements. “As of the end of 2024, the BOI has already granted LTR visas to more than 6,000 applicants. Europe leads the list with 2,500 recipients, followed by the United States (1,080), Japan (610), China (340), and India (280).” https://www.prnewswire.com/apac/news-releases/thailand-approves-update-of-long-term-resident-ltr-visas-criteria-and-conditions-to-attract-a-wider-range-of-foreign-experts-investors-and-executives-302351256.html#:~:text=As of the end of,to more than 6%2C000 applicants. With respect, and acknowledgment that is a great visa for those who have it , the LTR program has been a complete flop from the stated perspective of attracting new long term residents to Thailand. Approx 4000 (number excluding dependents) granted in 2.5 years, very low numbers. Judging by the posts on the forum, most of these to people who were already living in Thailand under a different visa. Not at all the aim of the program . It wasnt designed to make it easier for people already living here to stay. It was aimed to attract NEW "high potential" residents. It has failed to do this. The DTV has been much more successful from a numbers view, with 3x+ the approvals already, despite only being available for a few months.

Thanks, here we have another real world report, must be 10+ of these by now, all saying the same thing. The theory jockeys can bleat all they want, but the status quo remains, Thailand RD isn't interested in taxing income, unless you work or earn it here.

Yesm nearing 4K posts and it is a shambles. Many hanging fire. It's only a "mess" and a "shambles" on this forum and others, where people due to reading the vast quantity of rubbish posted, start being fearful, and then trudge off down to the TRD, or into some predatory tax agencies office. In the real world at the TRD, it's business as usual, status quo. Same as last year, and the year before, and the one before that......

This is in contrast to the many, many reports on various forums stating they've been stamped in, no questions asked, when arriving on a DTV. I'd put a lot more weight on those than this single outlier.

A theoretical policy "fact" that differs from the actual practice is really, no fact or policy. Multiple members have reported now that the status quo remains - TRD isn't interested in taxing foreigners remitted income.

Reporting foreign remittances has no relevance, or effect, to Thailand being able to 'carry out its duties under CRS'. The FI's/banks in Thailand, can meet their CRS obligations , by sending a single data file with some customer details, aggregate account balances and some specific individual transactions, once a year. In theory the Thai RD then sends this to the RD's of the participating jurisdictions and vice versa. That's it. The CRS reporting obligations have nothing to with remitted income, nor that remitted income being reported to a tax authority. This has been pointed out to you multiple times, but you seem unable to grasp it, and keep posting falsely.

Hi the nail squarely on the head. For many years, many tax residents have remitted foreign current year earned income, with zero enforcement, zero consequences. Talk of a loophole, sure, but no one has ever needed to rely on that loophole, it may as well have not existed. There is no clear indication this has changed, or is going to change, apart from a lot of speculation. TRD have released 2 internal memos, and 1 infographic has been published. Apart from that, all the noise is coming from 3rd parties, many who have sprung up to "feast upon the fear" , so to speak. Status quo is, Thailand RD isn't interested in taxing income unless you work here. If I had to guess, I'd say 90%+ of expat tax residents won't file a tax return this year. Another point most people on here don't discuss/ don't know, is there are over 1M Thais working overseas and remitting income back to Thailand ( now they're not all tax residents, but many are), it's a significant portion of GDP. They will be hit, if this is ever enforced, another reason it's extremely unlikely to play out as per the' letter of the law'.

Yes, a very good report and good visa to be granted. Numbers for this category very low, likely due to the requirements tricky to navigate for many, plus the concept of a 10 year visa tied to an employer - is also a bit difficult. OP, do you believe you'll stay in the same position and employer for many years? Reason I ask is (in theory) this visa is tied to your employer. If your employment ends, you either find another qualifying employer or another visa. I know of a case, where BOI was asked this question and confirmed the visa expires on employment cessation, but said "we won't check". Which means, you're safe, for 5 years at least, in reality, regardless of your employment status. At the 5 year mark you need to re qualify. Anyway, a good visa for someone in secure long term employment, but evidently, this category hasn't attracted anywhere near a fraction of hoped, new long term residents to Thailand.

Classic! Their #1 targets being anyone who has read a forum thread titled "The Introduction to Personal Income Tax in Thailand" I'd be surprised if it isn't mentioned somewhere in the the scam script............

"What's sad here, is members who are sharing professional advice are being denigrated/dismissed, because it doesn't align with your opinions". Gosh, I wonder who said that! Me, but not sure where you're going with this, as the poster isn't sharing professional advice on the CRS regulations.

Given I was the one who shared this link earlier in the thread ( and actually also many months ago in other threads) , yes, I did read it carefully. By the content on your posts on CRS, where you refer to remitted income and reporting of income to tax authorities, it is clear you haven't read it.

Have you read any of the replies to your misguided views on CRS that provide the clearly sourced facts? The CRS reporting obligations have NOTHING to with remitted income, nor it being reported to a tax authority. The CRS obligations are met by the FI' s( banks) sending a single data file with some customer details, aggregate account balances and some specific individual transactions, once a year. In theory, the Thai RD then sends this to the RD's of the participating jurisdictions and vice versa. That's it. This has already been pointed out to you multiple times, but you seem unable to grasp it, and keep posting what is now, frankly, nonsense.

You're correct, spot on, well said. I provided some more complete information on page 20 of this thread , towards the top.

Despite being provided clear information to educate you, you are have difficulty in grasping: The CRS is not an agreement on tax evasion / compliance. Its purpose is to combat tax evasion, sure, but if/how it does that is unclear. What it is, is a data sharing agreement, which according to the best sources we have, Thailand has not yet even implemented.

No its not. It's money that moves across CRS borders that is of concern. The money I earn in the UK, pay tax on in the UK and stays in the UK is of no concern to CRS. Jim Gant has tried to educate you on this. But, you consistently misunderstand/misinterpret the CRS regulations and their impact. "Transferring/remitting funds internationally" or moving money across borders, isn't relevant to the CRS data sharing. You're inventing a phantom link between the CRS regulations, remittances, and Thai taxation, that simply does not exist. By the way, whatever your aggregate UK A/C balances are (unless they are excluded , read the source below for definition) , and whatever certain transactions as per below, will be reported to Thailand via the CRS. CRS simply requires certain banks/financial institutions to share/report aggregate ( sum of multiple accounts, not individual) account balances, ONCE A YEAR, and does not include individual transactions, excepting the cases of certain income as specified in table 5 (see below). There is no way this information shared includes individual "remittances". It's got nothing to with 'declarable income'. CRS Source: https://www.rd.go.th/fileadmin/user_upload/FATCA_File/crs/Thailand_CRS_Guidance_280823.pdf Table 4 (page 60) it defines exactly what financial information is shared. Also, FYI, based on this link, Thailand has not yet actually IMPLEMENTED what they are required to, based on the CRS regulations. Source: https://web-archive.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/crs-by-jurisdiction/index.htm

Members have done exactly that already, and kindly shared their clear professional advice on this thread (starting on page 1), and other threads (linked to from this one on earlier pages).

Well good luck with it, let us know how it turns out for you! I asked you to provide proof from an independent source or quote the relevant TRD Code section and all you could do was post another thread that YOU deem to be expert professional advice..... you might as well have posted your holiday snaps for all the good that does! Thanks, I will , along with many others who will take professional advice and use gifting , to best structure their affairs to minimise tax. That is just common sense. I'm not in the habit of doing that. What's sad here, is members who are sharing professional advice are being denigrated/dismissed, because it doesn't align with your opinions.

Writing a long spiel of verbiage opinion, doesn't change the professional advice received and shared. Based on this, a gift (source of funds irrelevant) can be transferred from an overseas account directly to a Thai account, and the sender has no liability for for thai tax.

Not sure what more proof you need. Members have shared professional paid advice. The gifter isn't liable for Thai assessment or tax, the source of the funds (income or otherwise) are irrelevant. You're misunderstanding the nature of a remittance. Let's try to get you to think about it this way - can the TRD assess and tax a single inbound foreign funds transfer, twice, for two different parties? No? That's what you're suggesting occurs. The funds are already subject to TRD tax assessment, but for the recipient only, and the tax assessment is, that those funds are a tax exempt gift. It's not tax evasion, it's a gift, to his wife.

Spot on, exactly correct. For other readers who may doubt this, WISE in Thailand does not have the facility to have local Thai bank account numbers, as they do in many countries. You can use WISE to send to any Thai account but cannot create a Thai Bank account number with WISE. So any WISE transfer into Thailand is never capable of hitting an individuals "Thailand WISE account", because they do not exist. You cannot remit something to your 'Thailand WISE account'. WISE simply performs some magic to exchange the foreign currency to THB, and transfers it to the recipient Thai Bank account. Anyway, it's a moot point, it could be a normal wire transfer from a foreign account to a Thai one of the recipient, same result.

The poster has given you the answer, all you need to do is read it. With respect, if you're considering such drastic measures as leaving the country, just get your own professional advice....... When you do, please share, as this poster has done, and I bet it'll back up the same answer.

That advice is wrong, either incomplete, misunderstood or plain and simply wrong and I don't care who gave it. Again, do you have any source for your opinion? You dismiss paid professional advice to come up with your own interpretation? Would it make any difference, if you knew others had received exactly the same professional advice on gifting, from a different but equally valid source?