Ben Zioner

I see, I see...

No need for that, it is simple math. If I paid my income tax in Thailand I would, will be liable for about 800k a year, about 2100 Euros. That's barely the rent I would have to pay for very basic accomodation and I'd still be liable for about 12000 Euros a year of income tax. And then there is the uncertainty of such resettlement.

Stupid comment, there is no way one could resettle a Thai family to Israel or Europe, with a few savings and 120k a year. Believe me, I would if I could. And to come back to my early statement: today I would not make the decision to settle here, and anyone faced to such decision should reconsider and or wait a few years.

Same here, but we talking in THB not USD.

Wasn't this exactly my point?

First, I wrote "up to" as far as I am aware. Second, there are many expats from EU and US who have pensions in that range, I am over 4 Million this year, while I retired only from a "normal" IT mid management job (I wasnt CIO). Third, The "allowances" are peanuts.

Sure, if someone is prepared to pay up to 35% of his pension into Thai corruption he is welcome to move to this Tax heaven.

I agree that most of it has been repeated ad nauseam here. But his intro point is right to the point: cancel or postpone your plans to move to Thailand, at least until things get clearer.

Wonder what your accent sounds like when you speak French.

Many thanks, this paper summarises the current situation, and its conclusion ("During the period of unclarity, we recommend that Thai resident taxpayers review their income from a foreign source that has been kept in an offshore bank account and consider bringing such income into Thailand within December 2023.") confirm a course of action I have already taken. And I did this even though I have an LTR/WP visa and only transfer savings from pensions. Hence I give myself breathing space to assess the situation as it develops in the forthcoming year"s. Hopefully.

Sure, but I love Basmati, by far the rice on the planet.

You'd have to place the threshold very high so that it becomes punitive only for the ultra rich who don't contribute their fair share this gives the situation in the USA, but is way more obscene in Thailand. I'd happily pay my tax here if I was certain it doesn't feed corruption and the rich stopped sucking the blood of the masses.

This isn't a sinkhole, it is a collapsed cover over a man made cavity. Just more Thai engineering.

Don't buy any khrap that is heavily subsidised with the income tax we are going to pay next year. Buy only qualityIn Indian Basmati.

The sky isn't falling, but if they reneged on the LTR tax exemption, I can be hit with a yearly tax of 700-800k. So due diligence is the rule here. Remember October 7, we had forgotten how bloodthirsty Islam is and we weren't prepared.

Said the Ostrich...

Yes, and this applies even for those who may benefit from LTR, i.e cover your tracks and make sure you are ready, if and when the LTR protection ends, for whatever reason. Getting a good tax agent would be recommended in any case. You don't want to have to talk to the Thai RD.

But that's the case all over the world. Income Tax always targets the "soft" middle class. The rich use the power of their money, the workers class is exempted since they may take the streets. The only fair system would be a flat income tax combined with an effective wealth and inheritance tax.

That's a dangerous position to keep, to do that you must make sure that you have been 100% consistent with the old rule in all the years you have been tax resident here. Having an agent at hand in case they start an investigation will also be a must.

Yes I know this thread quite well, but which post says that? So far the understanding is that Income earned and remitted while under LTR isn't taxable. To change that they would have to repeal Royal decree 743. Or ignore it, but that could be construed as a crime.

Where did you see this? There hasn't been an update on the LTR thread for days..

holding out hope that they won't repeal Royal Decree 743.

Wink emoticon. I mean i.

"talked" ?

A real worry, as they can revisit ten years back.