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By Barry Kenyon September 23, 2023 The fear that retirees and other non-working expats are about to be taxed on their overseas pension income has created a field-day for internet warriors, click baiters and nervous long-term visa holders. But calmer reality suggests it may be premature to start packing your bags in utter disgust. The Thai revenue department has recently stipulated that, from the next calendar year, “earned income from overseas” will be liable for personal income tax for those (Thais or foreigners) spending up to 180 days a year in the country. https://www.pattayamail.com/latestnews/news/moral-panic-takes-over-the-expats-and-thai-taxation-furor-441317

Question: What monies brought into Thailand by a tax resident living here in Thailand is NOT subject to Thai tax?

And if so, anything else I should now? Thank you.

Thailand Bank Reporting of Deposit Transactions - SHERRINGS

Just a thought: If a long stayer foreigner in Thailand has money sent from overseas to a Thai bank account here, the receiving bank cannot deduct or withhold any "tax" from such an account if that Thai account is covered by a double taxation agreement. Would need a new law to do that which is not proposed and would need the Thai Govn to repeal the double taxation agreement first. For those who hold 800k in accounts here for Visa purposes that is subject to a withholding tax only on the interest which arises here in Thailand and can be reclaimed.

It is my understanding that those with a retirement visa and subject to a double taxation agreement will be unaffected by the new provisions. Even if monies are brought into a Thai Bank unless it exceeds 2 million baht in 1 year the banks in Thailand will not alert the Revenue Dept. If of course you are currently filing tax returns here the situation may be different...

Currently as the law stands right now, does a retiree- who is tax resident in Thailand but covered by double taxation exemption-does he need to file a tax return in Thailand?

So sorry if this has been asked already above. It is: 1.Can someone with a retirement O visa (800,000 in bank method) change it to a Elite 5 year Visa? 2. And if so, is the holder of such Elite Visa exempt from income brought in from overseas?