The Cyclist

I know there will be no additional tax on my State Pension. 1. Because I am not old enough to claim it. 2. It would also be taxed in the UK, so unlikely to be taxed again in Thailand Sure, it would be pretty stupid not to. That doesn't mean that any action I take to minimise any impact should be taken as gospel that something is going to happen for a fact. I have said it often enough on this thread. If you are remitting money to Thailand that you could have difficulty in proving that tax has been paid on it, stop remitting in the short term, until clarity is gained. What eejits should not be doing is saying that they are doing X,Y or Z because it will be taxed in Thailand. Of course, those who are avoiding taxes due to various loopholes might be in a different boat.

Forgot this part above. Did your contingency planning not go something like this ? 1. Gather the facts 2. Assess the fact 3. Formulate a plan 4. Execute the plan. Points 2, 3 and 4 are a waste of time and effort until point 1 is nailed down. Guess it all depends where you learned your contingency planning.

What it means to me, and others are free to agree or disagree, is that if you are from a Country that has a DTA with Thailand, and are remitting income that has already been taxed in the other Country it will not be taxed again in Thailand. If you happen to be using loopholes to avoid paying tax in the other Country, then it is possible / probable that you will be nabbed to pay tax in Thailand. How the workings of that pans out, has yet to be announced and we will have to wait and see. It could be * A blanket exemption, but subject to individuals being audited. * It could mean going and getting a TIN and filing a tax returm Yes, I am and I have. The UK - Thai DTA is crystal clear on pensions. That is why my Government pension will continue to be remitted to Thailand after the 1st January, my Private pension will go to my UK account until I get clarity. Having said that. I still do not think that Thailand will try and tax income that has already been taxed in the UK. Nothing wrong with that. Is there any real need for people to splash speculation iall over multiple threads as if it were fact ? Speculation is not fact and does not actually help anybody.

You're a funny guy Just have a read back over the last 145 pages and you will find hundreds of posts containing fear, speculation and tantrums. The original announcement stated that foreigners from Countries with a DTA with Thailand would be exempt from these changes.. Which is no different to @Dogmatix Singapore gripe. The wording might be slightly different, but the end result will be the same. The paragraph has been posted multiple times across various threads, so it would be a fair assumption to think that most people have seen it.

I never said that I thought that Thai Politicians were the sharpest knives in the drawer. Which is evident by joining the CRS and having rules foisted upon them by the OECD at the behest of the G20 which for the most part are drowning in debt. So Thailand can roll with it, or they can hold there hands up and say to the OECD, we are not ready for this and need to put it on hold. The problem might then be if FDI has been promised for joining CRS.

Strange You appear to have missed this part, I have put it in bold for you. I'm sure it was accidental that you omitted it when you quoted me.

That might be because Singapore only has a small population, where Most Western expats will be in middle to high salary employment. Most Western expats will not be retirees. The number of Western Expats that actually remit foreign income to Singapore is probably miniscule Perhaps tax avoidance is not an issue in Singapore Thailand needs all the help it can get in trying to reach Singapore standards. Which would include sorting out the domestic tax and taxing people who are also avoiding tax.

Just as well it is not designed to extract a pittance from expat retiree pensioners then

ATM transactions leap from an estimated 16 million a day to 16 million an hour

I didn't / couldn't answer it because I have no idea what HK or Singapore currently do. However, a quick google tells me that surprise, surprise, Singapore is also introducing the taxing foreign income from 01 Jan 2024. Amazing

You should have put the refund in your sarcasm meter

Ate the pizza and then used the free organic dental floss. Some people are just too fussy.

Singapore and HK are absolutely nothing to do with the thread. It doesn't really matter what ' you think ' Try reading the links that I previously supplied. Stop looking at the small picture, which is Thailand. The larger picture CRS and the OECD is about closing loopholes that people have been using to avoid paying tax. It is fairly simple, pay tax in the Country where the income originated, or pay tax when that income is remitted to Thailand. Thailand had an option, keep the Status Quo or join the CRS and close loopholes. The Thai powers that be took the option of joining the CRS and the associated rules that came with that.

Then you should also be able to see that " Where there are advantages " there will also be " Disadvantages " The " Disadvantages " are going to fall on people who have been avoiding paying tax due to loopholes. The OECD is made up of 38 Countries that can all offer Thailand assistance with economic co-operation and further development. Thailand gets tax revenue from foreign sourced income where it previously didn't. And all Countries need ever increasing tax revenue, even Thailand. But perhaps it is questions that should be asked of the Government. I doubt anyone held a shotgun to their collective heads forcing them to join the CRS. As I previously said. It is more likely that Thailand wanted to play in the Big Boys Playground, and that means adopting the Big Boys rules.

And that will be the classroom drones that I mentioned in my original comment. They are drones, not teachers. I am not convinced that anything will change within the Thai Education system. Too many people in high places believe / prefer to have a low education population / system, where only the wealthy are able to pay for a better standard of education. It keeps a class system intact. It is a bit of a catch 22 if you are not in a position to pay for a decent education.

Any teacher worth their salary, should know and be able to:- " Promote and maintain the desire to learn " The difference between real teachers and classroom drones. Children are inquisitive little creatures by nature and are a proverbial sponge at soaking up information. Start them early on the correct path and very few will look back.

An excuse or exaggeration ? You really think so ? You can read more here https://www.oecd.org/tax/automatic-exchange/common-reporting-standard/standard-for-automatic-exchange-of-financial-account-information-in-tax-matters-second-edition-9789264267992-en.htm https://www.oecd.org/tax/international-standards-for-automatic-exchange-of-information-in-tax-matters-896d79d1-en.htm https://www.oecd.org/tax/exchange-of-tax-information/oecd-releases-international-exchange-framework-for-crs-related-mandatory-disclosure-rules-updates-xml-schemas-for-exchange-of-crs-cbc-and-tax-ruling-information.htm CRS and OECD go hand in hand. No excuses by the Thai Government or the Thai RD. If Thailand wants to play in the Big Boys Playground, it has to adopt the BIg Boys rules.

It would have been easier and quicker to say who is going to get caught up in this. * People who have been using loopholes to avoid paying taxes. Done and dusted

This new approach is not about raising revenues as such. It is about being a member of the Big Boys Club known as the EOCD. If it was up to Thailand this new approach would not be getting adopted.

Aint that the truth.

No idea about Pattaya, but mine was about 18 months out of date due to the Covid carry on and it got renewed no problem.

I agree that is the most likely scenario, which is why I said But it is not something I am going to lose any sleep over, neither am I making any plans to flee

I wont be doing anything until I hear the details from the original announcement which said something along the lines of " People / Income from Countries with a DTA with Thailand will be exempt " In terms of any paperwork that might be required, my bases are covered with regards to income and tax paid in the UK.

Some people seem to have difficulty in understanding this Which is surprising as the answer is really simple Worst case scenario, I suspect I might need to go get a TIN and file an annual tax return for a lump sum of Baht 00000

Yes, I know it is true, that is why I typed it. Yes, of course it is my opinion and not a fact. However my opinion will be a damn sight closer to fact than over a 1000 posts of utter garbage and doom and gloom that has been posted over multiple threads @TroubleandGrumpy being a large contributor to that utter garbage and doom and gloom.