Mike Lister

Pre 2024 income is exempt, there is no place on the form to enter the information

Income earned outside Thailand in a tax year when you were not tax resident in Thailand, is not subsequently taxable in Thailand, when you become resident once again.

It is PIT tax tables that are being compared side by side, nothing more than that. The focus of the Simple Tax guide and these discussions, from our perspective has always been the average expat but with an emphasis on retirees on a pension because they are the ones who have expressed most concern at the new rule and the group from which most personal messages have come. The thread cannot realistically be expected to cover all types of tax, it was only ever intended to cover PIT. The thread also attempts not to be country specific although out of necessity it has been UK centric at times. It is not realistic to think the thread can cover all aspects of tax for everyone, from every country. It is also not realistic to think it can delve into capital gains scenario's covering both property and investment in all the different countries that posters come from. Simply, there are too many product variants in the different countries and insufficient expertise in the forum to be able to provide conclusive answer for everyone. There has to be a line, beyond which posters must either examine their DTA's or seek specialist advice. Poster @JimGant is a retired US CPA and is usually willing to help answer questions from Americans, about US taxes. Australians seem to have grouped and have various discussions underway regarding their pensions and income. Nationals of other countries will have to seek out the information they require from the different resources available to them or seek specialist advice.

Paging @JimGant Who will be along shortly to answer your question. Jim is a retired US CPA and well versed in US tax matters..

Agreed, it's usually a center of gravity issue which favors Asians but works against tall Westerners, many people don't expect that.

I have removed a couple of posts, for the benefit of everyone, and those who are now resting, I have done so, not because of any political views I may have but because the posts were in violation of forum rules: 1) If you quote somebody/something, you must provide a link, telling people to go google it, is not a good answer. 2) Placing a laughing emoji on a moderators formal message is a very bad idea, if nothing else it makes us pay attention. 3) Deliberately misspelling the word Democrat with a vulgar spelling, is also a bad idea. Even worse is deleting the moderators correction notice and deliberately misspelling the word a second time, to achieve a similar effect. 4) Proclaiming to the forum that that the moderator only requires links, because he is aligned with a particular political camp is against forum rules, as is any comment on moderation. 5) When posters ignore a polite and informal PM to avoid certain behavior, ignoring it is not a good idea.

Several posts in poor taste have been removed, two people died, they will have family, friends and loved ones, it is not a joking matter.

A post containing a quote without an attributed link, has been removed. Fee free to quote somebody or something, just post a link. And telling other poster to google it when asked for the link, is the wrong answer!

I used my HSBC UK Mastercard to pay my expenses whilst living and working in Hong Kong in the early 2000's. After 3 months they asked me where I lived and I replied the UK. The following month they cancelled my card. My client at the time was SCB who was quite happy to issue me with a HK credit card to replace it. When I returned to the UK nine months later I started to use my Barclaycard which I continued to use, both in the UK and in Thailand, even until today, without a problem.

My post compared tax tables between UK and Thailand, It did not compare Capital gains rates or anything else. You wrote: "Your conclusion that Thailand is cheaper the higher the capital gains income is therefore dead wrong". This is your statement, not my conclusion! If you want to compare capital gains tax rates, please construct a table and post it. I removed some of the flames and bait in your argumentative post but will leave your post in place, on this occasion only.

I wanted to satisfy myself that what I said earlier was true so I ran a quick back of the fag packet comparison. Below I compared, unscientifically, tax rates against Pounds and their Baht equivalents at 44. I assumed that the Personal Allowance and TEDA were similar, in the case of the Thai side, 350k + 150k zero rated. As you can see, the Thai tax rates are lower until they reach the range shaded in yellow and the UK has a 5% advantage, after which they diverge quite significantly once again.

Following is a link to a company in Thailand that does comprise lawyers and tax advisors, you will find that they say the same things because they have been the source of much of our information.: https://sherrings.com/foreign-source-income-personal-tax-thailand.html

Off topic posts have been removed. The purpose of this thread is for readers to report contact with the RD, general debating about tax is best held in the long thread.

As you wish! It's just that in Thailand I don't pay tax on anything under 12.5k Pounds a year! The more you earn, the more you pay in Thailand, that part is true. You are talking specifically about investment income and capital gains, my quote was not discussing those things, my mention was of general tax income. You are cherry picking your arguments!

Capital Gains in Thailand is charged at PIT rates which start at 5%. Capital Gains in the UK (excl property) starts at 10%, in the US at 15% and in the EU average 18%.

I've removed what appears to be a trolling post. I suggest you settle down and make my Sunday afternoon less hard work!

As the poster above as already said, you're reading the wrong things, why this is only you will know! When you get done, please read this and come back to us with any remaining questions. https://aseannow.com/topic/1316818-personal-income-tax-guide-for-foreigners-thailand/

It was always the case that anything earned by foreigners overseas and not transferred to Thailand was not taxable in Thailand. It was also always the case that anything earned before 1 January 2024 and transferred to Thailand was not taxable in Thailand. You really do need to read the following:

Posts removed where some posters call other posters names. Keep it up and your new name will be, "on vacation". Keep the discussion civil, please!

That shows up as my quote, which of course it is not. But agreed regardless

If they earned no interest, they cannot be taxed. But there is an anomaly with FCD accounts which, if held by non-residents, are funds that are deemed to be offshore.

Correct

Another trolling meme has been removed, it will be the last one from the same source!

There are some good and true aspects but there are also some very misguided parts. Fortunately, the facts are now more clear and there is a almost no need for a majority of average expats, to file a tax return here. The following Q&A explains. https://sherrings.com/foreign-source-income-personal-tax-thailand.html

An unattributed, anti-Semitic meme has been removed, let's not have any more please. This is a highly emotive topic, taking a break from it and walking around the garden may help some from time to time.