Mike Lister

That is contrary to big 4 advice, as posted.

Once again we're into the realm of what you think is sensible, versus what the Thai tax law states. I wonder how many times we need to go round this loop before you realise that your opinion doesn't matter when it comes to what is required under Thai tax law: 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). Individuals engaged in most forms of business are also required to file a return of their income for the first six months of the year by 30 September and pay the tax due. Each husband or wife earning income can choose to file their income tax return either separately or jointly with their spouse, whichever they prefer. https://taxsummaries.pwc.com/thailand/individual/tax-administration

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Sorry T&G, I'm not having a go at you directly but what you've written here is just not credible. You're saying that only those people who work for a company have to file a tax return. Yet, nobody has bothered to mention this before, not the TRD in their Q&A sessions; not Sherrings in their Q&A sessions with the TRD; not any of the tax advisory companies, including the Big 4 such as PWC? Frankly, I think it's nonsense of a degree, the like of which we've not seen here before.

Depends on the age of the husband and wife. If over 65, around 560,000 baht, assuming pension is remitted from overseas. If under age 65 and no pension, about 120k or thereabouts.

So this whole story about having to pay tax on remitted assessable income from overseas has just been one big misunderstanding and you believe that?

You've been informed, I really don't care what you believe, don't expect me to dig out chapter and verse to convince you, it doesn't matter to me if you get it wrong.

Only to a point. When tourism oustrips home grown production and industry, it's gone too far, no economy should be so reliant on external sources for their GDP. The other problem is that Tourism income mankes government lazy, it makes them forget to fix the things that are broken in the economy.

I agree. Similar requests have been made regarding Germany but they continue to be posted daily....tiresome and mostly irrelevant really.

A quick word of warning: A number of video's and media newspaper articles about tax lately, all containing incorrect or highly suspect information, despite coming from seemingly authoritative sources. One stated that pre 1January 2024 savings must be brought into Thailand before the end of this year, otherwise it becomes taxable....this is not true and the statement has subsequently be retracted but not many will have seen it. Another states that ATM and credit card transactions using foreign banks, is not assessible income in Thailand whilst the TRD has stated the exact opposite in their Hua Hin presentation. Be careful what you read, if you want fact, go to the Revenue site or the Big 4 or similar.

You know, there was a tax expert who gave an interview to an English language newspaper in Thailand recently and his information was so wildly wrong that it was sad. Within two days, he and the newspaper were extending their apologies and he was saying he was mistaken. At that point it's way too late, gullible people will already have seen it and said exactly what you did, "good video", after which they will have not reading anything further because they think they already have the answers, sadly, the wrong ones. If you want answers on tax, read the Revenue or the Big 4 Accounting companies or in Thailand, Sherrings or Mazars but stop watching Youtube videos for god's sake.

He is not correct, the TRD has stated otherwise.

The video was the subject of an earlier debate, there is incorrect information in there so be careful. I'll look tomorrow doe that discussion and try to give you the link.

Not so much excited as annoying when some people are unable to distinguish between what is written in law and the throw away lines that are little more than guesses. The problem arises when others read what is written and take the throw away lines as fact.

Yes they do, the rules apply to everyone. But Thai's are able to receive the first 20k of interest tax free, because their ID card is their TIN. Foreigners can also show their bank their TIN and get the same treatment, I do.

I've had worse from a Optometrist at a major chain hospital, and it cost me 1,500 baht..... Him - Read the top line. Me - I can't see anything Him - Try harder!

Re. 3 above. Worst case scenario AT PRESENT is to not be Thai tax resident when the overseas property is sold and the funds are remitted to Thailand, thereafter they are free of Thai tax. Under worldwide income, the picture changes of course.

Right, let's start again, shall we. If you've always paid tax using PAYE, that means that you have a UK tax account but have never had to file a return, because your tax has been adjusted via the PAYE system. But you can still access your tax account and see the payments that you've made, and your earnings, and get access to all kinds of useful and relevant tax information and forms, using the HMRC Government Gateway. I suggest you register for an account and log on and see what data exist, under your name. https://www.gov.uk/log-in-register-hmrc-online-services The Thai Revenue doesn't recognise your UK Personal Allowance, instead, they have their own system of allowance and deductions called TEDA. I know this will pain you to do so but I'm afraid you'll finally have to read the Introduction Thai tax which is linked below, if you want to understand this better. You don't say how old you are so it's not possible to establish the amount of your Thai TEDA but for anyone over aged 65, it's likely to be very comparable to the UK Personal Allowance.

I think that's correct also. My difficulty comes with the posters use of the word lecture, whereas inform is more appropriate.

You are correct, I had lost sight of the fact this thread discusses worldwide income, my apologies.

Why are you asking, only ****** pay Thai tax, remember,

There are days like today and posts like yours, that make me pause and wonder if any of this is worth the aggravation and effort.

Given that so much is still unclear, I think it helps to have a, "glass have full" attitude, rather than assume the worst in every instance. We have a couple of long term posters on tax whose attitude is that the glass is completely empty plus there's no bottom in the glass anyway!

I don't think that is an idiotic law. The average income here is very low, which is why only 6% of people pay income tax. It's abundantly clear that if the matter is left up to the people. nobody would voluntarily pay tax. The country gets by at present on VAT, Corporate tax and some targeted taxes, with holding 15% tax on interest is a logical move, making the people reclaim it if they don't owe tax.

Exactly