MangoKorat

They probably got a few quotes for accident insurance and changed their minds 😁.

I'm not complaining but are they serious? Tourists will spend more in other sectors because they will be 300 baht better off? Really? Government? More like a Kindergarten.

Yes, I contacted a Thai friend who works for Deloitte in Bangkok and she sent me copies of the new rules (from the TRD) which confirm that I can remitt all the money I need into Thailand this September when I make the move, and not pay tax on it because I will not be in the country for 180 days. Clearly I can't be in the country for 180 days from September when the tax year ends on 31st December. I know that the position resets on 1st January but as I will need to go back to the UK at some point, I'll probably go back for Christmas - thereby providing a firm break in my residency, just in case they change anything else. I will then return in January 2025 and become tax resident. Moving forward, I don't spend a lot so don't need a big income. If these global taxes do become law, I'm fairly sure the tax allowances I'll be due will mean I pay little or no tax on my documented income. If my business takes off and makes a profit, its only fair that I pay tax on that. I've come to an agreement with my kids and their partners to the effect that if the rules do come in, they will become tenants of 2 properties I have in the UK at a 'peppercorn rent' and sublet them to the occupiers. They will collect rents for them so on paper, I won't have any income from them. Both couples have one none earner who can use their UK tax allowance and therefore not pay tax on that income. Both properties are 'willed' to them in any case. They cannot therefore, gripe at me if the 'none earner' decides to become an 'earner' and finds their tax allowance is used up. I can always change my will if they don't like it. 😁

They were my thoughts on my one and only visit. However, I've read a few posts on here and I'm prepared to give it a second chance. Not sure I like the stories about getting arrested for having a 'vistor' in your room though 😁.

It would also be a bloody miracle. I've travelled by train 3 times in Thailand. The first was a sleeper service from Ubon Ratchathani to Bangkok which took over 12 hours, was very uncomfortable and kept stopping in the middle of nowhere without explanation. Second was great, a 15 minute ride from Laksi to central Bangkok which cost me 3 baht. My last, and until the new HSR service is available, final train journey was from Bangkok to my home in Khao Yai. I'd only just moved to the area and after, I kid you not, a 5 hour journey from Bangkok to Pak Chong (+ almost 2 hours from the airport to the train station), that's when I found out there were no buses or taxis available in Pak Chong and had to call a friend to get me home. My ex wife's village is just to the east of Korat and actually has a train stop in the village - the line then goes on through Korat to Pak Chong. When I arrived back in country one time, I suggested my wife get the train from her village to Pak Chong and I would pick her up from there. She tried - she was firstly told she had to change trains in Korat which turned out to be wrong. Then after waiting 2 hours for the next train that was supposed to come in 15 minutes, she was told they had no idea what time it would arrive and gave no reason. She gave up and took a van. If this 'groundbreaking' service will eventually form part of the HSR network, fair enough but if its not, it will just form part of Thailand's already useless rail network. I don't know if any other lines are better but all I hear is people saying 'never again'. Still, I look forward to the opening of the new HSR link from Bangkok to Korat with optimism and if Phase 2 from Korat to Nong Khai is finished in my lifetime, that will be the icing on the cake.

My post was 'tongue in cheek'. I just don't see how this is 'groundbreaking' as per the OP, which incidentally carries a photo of a High Speed Train - hence my original thoughts that the article related to the new HSR line, currently under construction. I know very little about trains but I do know that it is possible to get a train from Bangkok to Nong Khai at the moment. As far as I can see and with my limited knowledge, the only difficult bit is getting from Nong Khai to Vientiane where a different guage is used, I believe I would hardly call that groundbreaking or even newsworthy - unless I'm missing something. If I am correct, are they not wasting their time with whatever they are doing? It may be a while until its completed but the new HSR line will go from Bangkok, all the way to China as far as I know. Still trying to work out exactly what has been achieved?

Yes well that has always been a failing of successive Thai governments of all flavours - you might also say its endemic in Thai society. They concentrate of the few and ignore the many - in almost every sphere.

A question, I believe a person is classed as tax resident if they spend more than 179 days in Thailand. The tax year runs from 1 January to 31st December. Does the 179 days mean within a tax year and reset after 31st January or is it cumulative and mean 179 days in any 12 month period?

I don't think that's fair. I can't speak for other areas but cartainly in my area, foreign buyers have contributed a small but significant amount to the local construction industry/economy. Of course they can get along without us but looking at local construction in general - the large up-market condo units around Khao Yai have almost exclusively been built by Bangkok companies who often use immigrant labour. They have also shipped in a lot of the materials used. Local suppliers have, on the whole, only supplied concrete and cement. Kitchens, flooring, tiles, electrics and plumbing etc. all comes from Bangkok. That does little for the local economy whereas foreigners buy locally. Its not huge but the foreign contribution is significant and welcomed by local builders/materials suppliers.

A trial run of what? A brand new 21st century train running on an old single track line? What does that prove? When the actual service starts it won't be running on those tracks and hopefuly, they will be building new stations too. As far as I can see this is just spin and probably someone trying to justify their highly paid position. In the longer term, I wonder if they've thought about integration? Its all well and good for people travelling between the major cities but the service will also be stopping at other places along the route. The service bewteen Nakhon Ratchasima, Pak Chong and Bangkok is likely to be very popular. Popular that is, if local transport works. Pak Chong, for example is an up and coming growing city yet it has no taxis or local bus service. Locals almost exclusively use their cars to get around but travellers to Khao Yai National Park for example, simply can't believe that when they arrive in the area, not only is there no transport to the park, there is no public transport to and from the bus and train stations.

Seems you are as confused as I am.

Confused - what route are they taking? If its the long awaited Bangkok-Nakhon Ratchasima-Nong Khai HSR project that is currently underway and planned to link up to China eventually, last time I looked (4 weeks ago), it was nowhere near finished. The first section - Bangkok-Nakhon Ratchasima (Phase 1) is planned to open sometime in 2026 and the Nakhon Ratchasima-Nong Khai section (Phase 2) is aiming at 2029. Those dates are already revised due to previous delays and if the M6 motorway project is anything to go by, there will be further delays. Both the train and the road projects will be fantastic news for travellers - both long distance and local. Pak Chong to Bangkok for example is stated to be a 55 minute journey and Nakhon Ratchasima-Bangkok is aiming at 1hr 15m I believe. However, as I say, none of the HSR track is anywhere near finished and the current line is single track so they may be operating the train as per the news article but unless there's another route that's been secretly built elsewhere, it most certainly won't be high speed.

Would it be fair to say you're not a fan of Thai women? 😁

As I mentioned in an earlier post - read The Panama Papers.

That depends on which market you're talking about. I don't doubt there's an over-supply of condos in Bangkok or Pattaya - even houses. However, many thousands of foreigners have built homes all over Thailand and either live there with their wives or visit regularly. I know of one builder in my area (of Thaliand) that's spent at least the last 2 years working for foreigners. If foreigners can't get their money in to pay for those builds, many small builders in Thailand will suffer + the knock-on effect. Mind you, the Revenue Department probably won't care if they do. I suspect that very few of them (builders) actually pay tax.😁

My move to Thailand was originally planned to take place in 2009!!! It was thwarted by the global recession and since then by other things like Brexit, Covid and inflation causing high interest rates. All of which had a highly negative affect on the property market which I was (am) involved in. Things are finally looking better now and although I will be keeping some properties, I am selling my UK home because I can do so without being liable for any tax on it. The other properties would attract Capital Gains tax so they've been sorted differently. I've been involved with Thailand for over 21 years and you could say my life exists there - at least the social side of it does. Prior to Covid I was visiting every 8 weeks for 2 weeks - having spent 7 days per week of those 8 weeks working. I had no time for a social life anywhere else. Just about all of my friends are in Thailand and I've had a home there since 2014 - I've spent 9 years getting it how I like it. I was married to a Thai woman but I'm not now - enough about that. None of us know how long we'll live so I can't guarantee that the assets I have will last me out. I also have no intention of retiring as I believe its 'the kiss of death'. So my plan has always been to start a business in Thailand which will hopefully provide me with a reasonable income until I snuff it. It should also keep me active when I reach 'old age' 😁. There is no way on this planet I would ever 'retire' to Thailand and sit in a bar every day or spend my days hitting a small ball around with a stick - and then go to the bar. Hence my need to get a chunk of money into Thailand and my worries that any changes to the taxation system could affect me negatively. Until recently, I'd only considered the effects the new taxation rules might have on my income, I hadn't thought about the funds to start the business because I didn't think they'd be affected. I know plenty of guys that have transferred large amounts of cash into Thailand over the years to build houses, buy cars etc. and never paid a penny in tax on it - that all seems to be under threat now.

Well on reflection, I do need to bring money in and possibly more than would be possible or even feasible by alternative routes. I'm not thinking of the proposals that are the OP (global income) here - rather the tax residency rules. I'm hoping that its possible to remit funds in the tax year before I become resident and if that is possible then I might 'future proof' myself and bring in more than I actually need. If that is the case then there could be 1,250,000 reasons for me to face 'the grief'. People have mentioned the consequences for Thailand in introducing all of the new tax measures they are proposing. I'd only thought about that in terms of annual income and with the allowances many of us can keep that down to a level where very little or no tax would have to be paid. What I'd never thought of is those who bring funds in to either buy a house or buy land and build on it. I can see that coming to a grinding halt. The Thai tax authorities should maybe think about the Thai builders and building supply companies etc. etc............ that have for years, benefitted from foreigners having houses built but will they? Very doubtful as they almost certainly have no idea just how many houses have been built that way over the years. Who's going to sell their house in their home country where they most likely don't get clobbered for any tax at all and remit those funds to Thailand where they will be taxed on it? It all seems a mess at the moment and I've spent the best part of a day reading conflicting accounts. The advice below from the respected PWC seems to state that I could avoid tax even if I was resident by not remitting it in the same year as a capital gain is made. 'Capital gains and investment income earned by a resident from sources outside Thailand are not taxable unless remitted to Thailand in the year of receipt.' https://taxsummaries.pwc.com/thailand/individual/income-determination The 'last reviewed' date on the report that's from is 13 February 2024 - I thought all that changed on 1st January 2024? I think the time has come to talk to and old Thai friend who works for Deloitte Thailand - I'd forgotten about her but we are still in touch and I think she will help. I'm wanting to take money into Thailand mainly in order to start a business - I know mine would be miniscule compared to some but surely they want to attract investment - not prevent it?

My point is that most low, middle and even high earners pay their taxes. The super rich find ways of paying very little or not paying any at all. 60K? Some of these people earn in excess of 60 million.

Yes well Bob, you will no doubt be aware of how you are regarded on here, seems you have a new mate.

Yes mate, totally broke.

I don't think its the same in Thailand. From what I'm told a very common reason for a girl from a poor background going into 'the trade' is when she sees a 'working girl' arrive back in the village complete with a new Gucci handbag an iPhone. You should also not forget that there is no social security or housing benefit in Thailand and some single mothers have a very hard time.

Not even worth a reply.

I've had a read through the excellent guide provided by @Mike Lister - as excellent as it might be, to those of us with a 'less than financial' mind, it all seems mind boggling. I fully understand that any and all income remitted to Thailand by a tax resident may well attract taxation but how about someone who is not tax resident? Say for example that whilst you are NOT tax resident in Thailand, you remit funds to your Thai bank account, funds that would not normally be taxable in the country where you reside for tax purposes, is that money taxable or does it even need to be declared. For example: If say I sent 5 million baht from the proceeds of a house sale in the UK to my Thai bank account whilst still living and being tax resident in the UK, is that taxable in Thailand? Would I even need to declare it? For the purpose of clarity, let's say that the source of the money was the sale of a sole residence - not normally assessed for capital gains tax in the UK. Does anything change if I then move to Thailand during the next tax year?

So for example, those working pay less tax than those getting income from investments?

I thought that foreigners earnings were always assesable and the only change was that the loophole of earnings from the previous tax year was the only thing being changed? It was my understanding that that became law on 1st January 2024. (not talking about the new 'Global Income' proposals)