Mike Lister

If income was earned before 1 January 2024, it is free of Thai tax, savings prior to that date are a good example..

I didn't conveniently leave off anything, I gave you an example based on some of the things you wrote, I'm not going to do your entire tax return for you!.

That's reasonable and I can agree, I thought for a moment you were of those who say we should get access to government paid health care and reduced pricing on National Park visits etc.

I'm sorry, I don't have any information on US tax.

Tax returns All persons earning income are required to file a tax return no later than 31 March of the following year for hardcopy filing and 8 April for online filing, except for individuals whose income from employment is THB 120,000 or less (for single persons) or THB 220,000 or less (for married persons) and in the case of having income from other sources (with or without employment income) of THB 60,000 or less (for single persons) or THB 120,000 or less (for married persons). https://taxsummaries.pwc.com/thailand/individual/tax-administration

List the things you want.

At it's best it's humour, at its worst it highlights the futility of what you're asking for!

A hotly debated topic...by some! The rules as we understand them currently are these: OVERVIEW OF THE TAX LAW 3) Thai tax laws require Foreigners who reside in Thailand for one or more periods, with at least 180 days in one tax calendar year and who receive income from inside or outside Thailand via: a) Income from employment (wages, salaries, remuneration, etc.) assessable under Section 40 of the Revenue Code; b) Income from business operations is assessable under Section 40. c) Passive or property income (interest, dividends, rental income, goodwill, pension, capital gains etc.) based on Article 41 paragraph 2 of the Revenue Code. ….…to assess their income for Thai tax and file a tax return, providing the assessable income threshold has been exceeded. Thai-sourced income is always taxable in Thailand, wherever it is received and regardless of tax residence status. Foreign sourced income is subject to remittance, tax residency and other factors such as terms of a DTA. If your assessable income exceeds the threshold then yes, according to the rules as we understand them currently, you are required to file. But there is an argument that says, since there is no penalty for not filing when no tax is due, why even bother to file. I imagine you will be more interested in whether that assessable income not only exceeds the threshold but also enters "tax due" territory.

Oh I see, you want to be allowed to be here and to be loved as well! I don't think it's governments role to love you, have you talked to your mum or your wife!

Nonsense! If the government didn't want us here, they wouldn't issue long term visa's.

If all your income is exempt by virtue of a DTA, no, you do not need to file a Thai tax return.

If a person was receiving their state pension tax free in the UK, and I do receive mine tax free because its on the old scale, it will amount to under 12,750 Pounds which is the limit of the Personal Allowance. Remitting that pension to Thailand will mean the remitter is able to claim the following TEDA (Thai deductions et al): 60k Personal allowance 190k over age 65 allowance 100k for 50% of pension payments (max 100k) 150k zero rated Thai tax band. All of those things total 500k and can be increased depending on individual circumstances, eg married, children, Thai insurance products etc. 500k at 45 baht per Pound is around 11,115 Pounds, that means the first 11,115 Pounds of remitted funds will be free of tax, the difference between that amount and the 12,750 will be taxed, potentially, at 5%. So, 20% or 40% tax? No, maybe an effective tax rate of under 1% but I didn't think it was worth doing the math.

Much of this entire subject is about education and removing the fear that people associate with the word tax, once people jump that barrier, the world seems a much better place.

Your proof is here, see number 3 part way down page: https://sherrings.com/foreign-source-income-personal-tax-thailand.html A statement dated at the end of last year will suffice. And you may find the following helpful:

Anything earned before 1 January 2024 is free of Thai tax.

Agreed on highlights above.

I understand it's not cost efficient from an investment portfolio standpoint. As I've grown older, I've migrated more of my investments from actively managed funds, into bonds. That reduces my risk of capital loss and also requires much less management on my part. Today I'm split almost 50/50 between equities funds and fixed income, the income from the latter being paid away separately. That gives me 50% of my investment portfolio that I can transfer free of tax, should the need ever arise.

In that situation I would be inclined to baseline the funds as at 1 January 2024 because anything earned prior to that date is free of Thai tax. I would then try to ensure that any income/interest earned on that amount, was paid away into a separate account, thus leaving the base capital amount unarguably free of tax. TBH that would be a reasonable tax mitigation practise to adopt in any country.

Regarding the following point from the list of unknowns: L) - income that is earned in a year when the taxpayer is tax resident but not remitted until a year when they are not tax resident, is it later tax assessible in Thailand? I have now read a second report where members have asked the TRD about this point and the answer has been that the money is free of tax. Member @4myr reported the following a few days ago in this thread. In years of not being tax resident: 1) In the tax year that a person is not tax resident, you can transfer as much money as you can. You will not pay taxes. This is in accordance with https://www.rd.go.th/english/6045.html. “A resident of Thailand is liable to pay tax on income from sources in Thailand as well as on the portion of income from foreign sources that is brought into Thailand. The above seems to add weight to the idea that funds remitted whilst not tax resident, are free of Thai tax but it doesn't tell us what the situation is if they were earned whilst the person was tax resident also. I think it is clear that funds earned and remitted whilst not Thai tax resident, are free of Thai tax, the above takes us one step closer to closing the gap in our understanding.

And finally, to put the OVERVIEW section to rest: I've changed the overview wording back to what it was before attempts were made to make a couple of posters happy. I think it's a reasonable form of words, as do many others. If and when new reliable sources of information emerge to warrant making a change, we will do so at that time. If anyone thinks it isn't specific enough, please talk to the TRD or a paid tax advisor to obtain greater clarity. This point now removed from the list of unknowns. OVERVIEW OF THE TAX LAW 3) Thai tax laws require Foreigners who reside in Thailand for one or more periods, with at least 180 days in one tax calendar year and who receive income from inside or outside Thailand via: a) Income from employment (wages, salaries, remuneration, etc.) assessable under Section 40 of the Revenue Code; b) Income from business operations is assessable under Section 40. c) Passive or property income (interest, dividends, rental income, goodwill, pension, capital gains etc.) based on Article 41 paragraph 2 of the Revenue Code. ….…to assess their income for Thai tax and file a tax return, providing the assessable income threshold has been exceeded. Thai-sourced income is always taxable in Thailand, wherever it is received and regardless of tax residence status. Foreign sourced income is subject to remittance, tax residency and other factors such as terms of a DTA.

The other half of my explanation is that, over the past few months, as members have asked me for help and for answers to questions involving US aspects of Thai tax, I have ALWAYS publicly deferred to you and said, poster JimGant is a US CPA and expert in US tax, go speak to Jim. It would be plain stupid for me or anyone else who doesn't have your US qualifications and US experience to answer questions about American tax. That same logic extends to Thai tax, if there are aspects of Thai tax I don't know, I defer to the Revenue or a tax specialist. The fact that you seem to be able to extrapolate and extend US tax law to Thai tax unknowns , is your business, but clearly involves a fair amount of guess work.....don't expect me to do the same or get involved in doing similar.

I'd answer, sorry, I don't give advice, if you can't find the answer you need in the Simple Tax Guide, try asking somebody at the TRD or go find a tax advisor. That's not just what I would say, it's what I have said and continue to say. Why should I make up an answer when I have no training in Thailand, am not qualified in Thailand and don't fully understand the Thai system, in other countries you could go to jail or get heavily fined for giving answers!

Which matches what was picked up and reported in the Simple Tax Guide. 58) Crypto transactions inside Thailand are subject to PIT on the gain amount, crypto transactions outside Thailand are charged on the amount brought into Thailand, when it is imported.

I have already said over 9 hours ago that I have looked for it and cannot find it, if I do in the future I will be certain to post it, I don't intend to waste any more time on it. You can keep playing this card if you wish but it's not going anywhere and it will get boring so best move on to something constructive and useful The fact the TRD doesn't follow up to make sure that everyone who has filed previously, files in the following year, doesn't mean the policy doesn't exist, if that is their policy, IF it is. In fact, that would go some way to explaining why in previous years, I and other posters have mentioned that we received blank tax forms from the TRD, the year after we last filed, most often which were discarded without anything bad happening.

It's not an insult, just a simple statement of fact, you do not understand what's involved in answering the question that you have persistently asked us for repeatedly, despite not proving all the information we requested. And let me ask you for a third time, do you not read your PM's? You haven't read the one I sent you three days ago!