The Cyclist

I asked you to explain where I didn't understand the UK /. Thai DTA in respect to the 2 pensions I currently have paid direct to Thailand. Pension 1 Government, covered by DTA ( No tax in Thailand ) Pension 2 Private, liable to tax in Thailand and will no longer be paid direct to Thailand. Where did I get the DTA wrong ?

It was a loophole that is being closed from 01 Jan 2024. Loopholes are generally used ( in the tax sense ) to dodge paying tax, under most tax jurisdictions, not just Thailand. Perhaps you could point out what I have not understood about the UK - Thai DTA ? I think I understand it enough to stop my Private pension being sent direct to Thailand and allowing my Government pension to continue being sent direct to Thailand. How sad are you that you counted my posts.

My understanding of the UK DTA also. Which is why my Private pension ( Taxed in the UK ) last payment to Thailand will be on the 15 Dec, then paid to my UK account. My Government pension ( Taxed in the UK ) and covered by the DTA will continue coming into Thailand on a monthly basis. I will draw down my $ account to make up the shortfall if needed, until such times as the RD provides clarity.

What is the purpose of DTA's ? If the answer is to ensure that people are not double taxed on the same income, most people will be fine. If the alternative answer is, that they were made up by bored bureaucrats and not worth the paper they are written on, then we will all have problems. If you are a tax dodger, your dodging days are coming to end, certainly in Thailand.

Addressed directly above the part of my comment that you quoted.

Me too. Wouldn't want to try it after 01 Jan.

That might be true. I believe that at this point in time we do not have clarification on what is " Assessable income " The whole point of having DTA's is to ensure that the same monies are not taxed twice in different Countries.

If you have P60's covering funds coming from the UK into Thailand, I think you will be safe from Thai taxation. I have 2 pensions coming into Thailand and have P60's and Statements of future payments, The P60's show annual amount of income and tax paid. The Statements of future payments show the monthly amount and the tax deducted. State Pension, I have no idea as I cannot claim it yet. Any monies remitted to Thailand that has not been taxed, or you cannot show where it has been taxed, will most likely incur Thai taxation. O&G workers for example, working in tax free places and having their wages paid direct to Thailand. I think many people are panicking and doing Chicken Little impressions over nothing.

A Brit here and his viewpoint There are some headless chickens on here that protest too much, or are trying their utmost to spread fear and panic. For reasons known only to themselves. New tax law from 1st Jan 2024 Deposit account with extension money, no deposits and no withdrawals since 2010. New tax law will have no effect on this account $ account. No deposits since Jan 2020. New tax law will have no effect on this account. As all deposits made prior to 01Jan 2024. Main account. 2 x UK Pensions paid direct from the UK, both taxed in the UK and land in Thailand to the tune of around Baht 115k a month. Pension 1. Government ( Forces ) non taxable as per DTA. Pension 2. Private and apparently taxable according to the DTA. Pension 2, I have just emailed a change of bank details. Last payment to Thailand will be on the 15 Dec. Therefore ( as best as I can tell ) I will have no tax liability in Thailand after the 01 Jan 2004 as the only money remitted to Thailand after this date will be my Forces Pension. For those worrying about proofs. Both my Pensions send me annually a P60 and a statement of future payments. The P60 contains the annual amount and the tax paid. The Statement of future payments contains the monthly payment and the amount of tax deducted. I am quite confident that the P60's and Statement of future payments will be more than adequate to satisfy the RD.