TroubleandGrumpy

I admire posters who think anyone else's opinion is stupid and/or wrong. But I do understand how a bloke living in a small apartment in Pattaya/Patong and who never interacts with Thais other than a BG would have no idea how things work. If I was in that situation I would listen to those who are married to a Thai, have lived in Thailand for a long time, and who have lost of interactions with Thais people themselves. Especially those whose Thai family and friends is also proving them with their opinions and advice, and who are asking other Thais about this new tax issue - because it directly affects them. That is not sarcasm.

That is an interpretation - not a fact. It could be that, but under the TRD self-assessment system I do not see it that way. If TRD provides an exact detailed response or statement saying that all mutual funds overseas are taxable, then I will accept that as a fact. But until then, what I have read says 'mutual fund'. A mutual fund is not where a person's money is invested and they are paid interest - a mutual fund is where a group of people, under Government control and rules, invest their already taxed funds for mutual benefit - usually for their retirement savings. The members of a mutual fund are not paid interest - they mutually benefit from the fund increasing its total value - after the fund has paid to the Government the applicable taxes. Likewise, they all mutually lose when its value drops like during GFC and/or Covid and/or Ukraine War etc etc.

Like many others when this was first announced last year I was very worried. In fact I was over-worried and I did express all that when responding to all those members who said it will never happen and who were going to ignore it. The truth is taxation laws in any country are very 'punishing' - the biggest part being they can go backwards 7-10 years and demand anyone proves the money they remitted into Thailand was not taxable. But it aint as bad as I first thought - with a lot of research and planning, I believe that I am OK. Either way, I will be staying away from TRD until this is all sorted out. By that I mean I have calculated that I do not have to lodge a tax return - so I will not - and I will keep all the records just in case. IMO lodging a tax return in 2025 unless absolutely a must, will only highlight you to the TRD and they will expect more every year going forward. Likewise, you go to a tax adviser and ask 'do I need to lodge a tax return' they will liekly say yes and ask for the money up front (and every year going forward). IMO the vast majority of Expats with only Pensions and Retirement Savings are be excluded, both because most DTAs exclude that type of 'income'. I also think that Thailand will (eventually) do the same as Malaysia, Indonesia and most other 'retirement countries', and specifically state that they will exclude retired Expat's Pensions and Retirement Savings. Because for decades TRD has ignored the fact that only 10 million of 40 million Thais dont lodge tax returns, and all the Expats who are not working, they do not have the resources, systems or expertise to deal with all the complications that will happen because of this 'order' from the sacked PM to do it. IMO if it does go ahead it will be a total cluster phaarrk and IMO it would be best to stay away from TRD for a few years unless unavoidable. Those who have been living in Thailand off the earnings they make from overseas investments and earnings from things like property rentals, will have to re-assess staying in Thailand - because you are exactly who they are after in terms of Expats (and all the Thais also doing that). The Thai tax system here is 'self assessment' - and therefore every Expat can assess their own situation. My self assessment is that I do not have to pay any income taxes in Thailand this year. This is because of a combination of the DTA with the applicable exemptions and allowances, as well as the TRD's own allowances and exemptions for myself and my Thai wife (joint lodgement). My 'net taxable income' is well below the tax free threshold set by TRD, and based upon advice from a Tax lawyer, I do not have to lodge a tax return if I do not have to pay any income taxes. The TRD system is setup for those who have income taxes to pay (or already have through work or business), and they are not set up like those in the west where they check and confirm all tax returns, and they chase all those who do not lodge a tax return. Therefore I will keep my tax records about how I self-assessed things, and if ever asked (unlikely) I will provide those as why I did not lodge a tax return. Plus any money I send to my Thai Wife in Thailand (under 20 million) is not taxable under the TRD gift rule - that is true as long as it goes into her bank account and is spent by her on things like a house, car, shopping, golf, etc etc (and she does not transfer any money to my account).

I decided to also give you another answer besides - Yes No No Yes etc. As per the below notice to members - opinions are not facts , and if you want 'proof' go see a tax specialist.

True - but in most DTAs there is a Clause that states all non-Thai tax residents must be subjected to the same tax rules and tax benefits as Thais (Non Discrimination). I am not saying that Somchai in the local TRD Office will automatically accept that, but it is what is in the DTAs.

No No Yes No Yes No and No thanks

Unbelievable - you hear and see what you want dont you? I was, have been, and always will be currently refering to the money remitted into Thailand. But worldwide taxation is coming - they are planning for it. And if they do implement worldwide taxation, just who the hell do you think that will affect - of course it will affect all tax residents in Thailand (locals and foreigners) - as in world wide income mate.

That is exactly the point - they are all powerful men that are attractive to certain types of women (good and bad). The difference is that Trump has been relentlessly attacked by the MSM and all claims believed, whereas Biden and Clinton has been given a free pass and their accusers ignored.

Poor fool - insults and abuse - no facts - all feelings. I will enjoy the show when Trump wins.

Yes IMO they are wrong - and the guy Jeff interviewed is correct. That company is 'baiters' and they are reaping in lots of business from Expats in Thailand who are scared they will have to pay income taxes. There are a lot of them out there - this guy is just one of many. I listened to his first vidcast and used to get his emails - IMO a total baiter. No-one knows for sure because it all depends on 'interpretation'. The tax lawyer interpreted that Clause the same way I did - Aust Govt Pensions are only taxable in Australia. I also got an email from a Tax Lawyer saying the same thing. After being accused of lying by posters like you I posted e redacted picture of the email - they all shut up (and only a couple of them aplogised). Also I went into the local Provincial Office where my Thai wife's family lives and she asked them - they said Pension no tax. Likewise another poster did the same some months ago - and got the same answer. Until TRD provides their long promised explanations and detailed advice, no one knows for sure (maybe in Nov?) I have already posted my views and opinions about this issue many times, including in the Aust Forum - I am on the record. Go find it all - I aint wasting time rewriting it all again (or looking for it).

Foreign-sourced income tax-no logo (expattaxthailand.com)

You only outnumber us here - in the real world, and on other forums you guys are the minority.

You guys have been saying that ever since he nominated for POTUS back in 2016. Russia Rape Fraud bla bla bla. Broken record and stuck on the same loop.

Are you for real? Surely not. But <removed> and woke - so probably real thoughts. Sad.

Woke liberals do - that is for sure.

Your lot outnumber us - mmmmm??

Yes I know that AN is the bastion of liberal woke losers from the West who spend all day hating Trump and criticising Thais, and all their nights chasing Thai women and consuming drugs - with the occasional adventure with a Thai GF/BF that does not work out for some reason. But there are some rational sensible blokes here too. We are outnumbered I know, but I dont just go along with the majority like others do it an attempt to have their posts read by others. Sounds like the mental state of a GenZ person on Facebook that does - just saying. Do you have notifications on to tell you when someone likes or dislikes your comments? Do you like that? Just asking.

Unbelievable. Sounds like she is your Mum.

I hope that one day you will realise the problem and wake up - but meantime here is a wake up call that might work.

Ditto mate. Not an easy issue to deal with. I love dogs too.

Even someone like you can speak the truth - maybe - not that I have seen/read, but I am sure you can.

Truly one of the delusional fools - what a butt.

No - the Civil War might happen after he wins and the woke liberals take to the streets again and use it as an excuse to riot and pillage again. The People will defend their homes, businesses and lives this time around, and those thinking they can again do whatever they want are in for a very rude shock. I reckon Trump will deploy the National Guard - but instead of doing that to try and force Texas to open their border like Biden did - Trump will do it to restore order in Dem States that are out of control. I can see that action including arresting State leaders who do not employ sufficient force to protect the lives and property of those being affecting by any riots.

That was not an interview - that was a puff piece by CNN on behalf of the Democrat Party. Only an idiot could not see the difference between that 'scripted interview' and the recent one the same 'reporter' did with JD Vance.

Trump speaks the truth and he is attacked by the woke liberal mob, and the person he spoke about is defended from obvious insults by the delusional supporters of her political party. Truly we are in the age of delusional people who have been running the world. Trump's own sex life has been subjected to far far worse, but as soon as it is thrown back, they scream misogamy and racism - they are totally delusional and irrational. Trump in 2016 was just the beginning of the end of woke liberal influences over the world. Just like in Argentina the socialist woke lefties are going to be destroyed and this time around Trump will follow the lead of Javier Milei and not attempt to change things - just obliterate and remove them. Dems will say he wants to be a Dictator - and in a sense they are right - he is going to remove them from every Government position and funded organisation - and destroy every Government funded woke liberal organisation. Dems will call that being a Dictator - but the majority see that as removing the woke virus that has infected American society. On day 1 Biden acted like a Dictator when he removed all Trump's policies that dealt with the Border - and that has been an absolute disaster - that Harris is now saying she is going to fix. Only a delusional person totally caught in their ideology net cannot see the lies and mistruths - this time round Trump is not going to compromise and try to change things and make them better/right - he is going to make Javier Milei look like an amateur. The previous MOU of the appeasement compromised RINOs is no longer Republican policy - they are going to tear down and rebuild things this time. And despite the MSM and Human Rights groups complaints, the GOP is going 'full monty'. Example - IMO if there are any violent riots on the streets like when Trump last won, he will deploy the National Guard and they will arrest and charge them all with insurrection and send them to jail. Remember - you guys started this - sending protestors to jail and allowing violent rioters to walk free - but this time Trump and those that follow him will finish it.