The Cyclist

Indeed it is. It does not matter a jot what is on previous tax forms prior to tax year 2024. These changes only apply from 01 Jan 2024

Utterly bizarre comment, as well as very stupid. Thread after thread, including this one, people will tell you that income specified as being under exclusive taxing rights was not assessable income. The past 15 years, nobody gave a monkeys, nobody chased anything up and nobody cared. That changed with * Royal Decree of 31 March 2023. * The push on Tax residency * 01 Jan 2024.being the day that it all changed.

I disagree with your thinking that a Royal Decree exempts you from filing a tax return, as a Tax Resident of Thailand. I do agree that it will exempt you from paying tax in Thailand. So you can bang on about Royal Decrees to your hearts content. You seem to have a difficulty in understanding that if Thailand wants Foreign Tax Residents to file a tax return, that is what will happen. That does not mean that those foreign tax residents are going to have to pay thai tax. And that, in essence, is where we disagree. And I think I will listen to the head of the RD legal department ( Yesterday ) than some anonymous poster on the internet. Sure, some foreigners will not need to file a tax return * Less than 179:days * Remit no income in 2024 * Remit less than the filing thresholds in 2024 Immediately spring to mind.

Not in the slightest. All prior to 01 Jan 2024, as I stated. Head of the Legal Department. Thai Tax Resident - Check Remit income from 01 Jan 2024 - Check Then that income is assessable income - Check 2024 tax filing season does not end until 31 March 2025 - Check.

Thats brilliant, absolutely stupendous. But for the brain dead who walk amongst us, that is all prior to 01 Jan 2024. It means absolutely nothing. Head of the RD Legal Department. Thai Tax Resident - Check. Remit income after 01 Jan 2024 - Check. Then it is assessable income. * Assessable does not equate to being taxable ( For multiple reasons ) Go argue with the head of the RD Legal Department.

I will let Mr Hart explain it to Assessability does not mean liability. Now go and watch the 1st 10 minutes of the latest video. Thai tax Resident - Check Remit income after 01 Jan 2024 - Check. That income is assessable income. There are various ways, as explained in the video yesterday, as to how this income has no tax liability. * Bank Statements to prove prior 01 Jan 2024 Savings * DTA's to prove that other Country has exclusive taxation rights on that income. * DTA's and tax receipts to prove that the income is subject to tax credits, * Some Visas exempt your income from Thai tax.. As examples. It is laid out in simple terms by the Expatthai video with the head of the RD Legal Department. But mentalists think they know better than the Head of the RD Legal Department. And while I'm here, Does any of the Section 42 ( Exempt income ) apply to you ? 29 different types, any that you could manage to shoehorn onto a tax filing. Just another example of why I think your understanding of exempt income is wrong.

Yeah, you're confused UK - Thai DTA covers my income. I can read from that DTA that the UK has Exclusive taxation Rights, therefore cannot be taxed in Thailand. What that DTA does not say, is that if I am a Tax Resident of Thailand, I am excused, exempted, no need to comply, should Thailand want Tax Residents to declare their income. And it is clear from yesterday's video ( Right at the very start ) If you are a Tax Resident of Thailand, remit income from the 01 Jan 2024, that income is considered Assessable income. Further on in the video, it also makes it clear, what paperwork / evidence, is required to ensure that you pay no Thai Tax on your income. You are free to believe whatever you like. I believe that the LTR, the same as a DTA will exempt you paying Tax inThailand, It does not exempt you from filing a tax return, if you are a Tax Resident and remit income from 01 Jan 2024. I expected to see a Ranty video this morning from Mr Benjamin Hart, ripping into yesterday's video, After all, surely it is a video that is fearmongering, passing falsehoods, by people who should be arrested for delving into restricted occupations. Would that cover the head of the RD's Legal Dept ?

Low value accounts became reportable from 01 Jan 2024. You getting the pattern yet about changes becoming effective 01 Jan 2024 ?

Thai Banks need to report held accounts by June every year to the RD. RD have to consolidate and report to ( BoT ? ) by September every year. The RD knows every foreigner that holds an account in a Thai bank.

No idea what you are talking about.

Based on today's video. Tax Resident, remit income from 01 Jan 2024, it is assessable income. 2 things happen with assessable income 1. Below 120k Baht, no need to file a tax return. 2. Above 120k baht, required to file a tax return. The UK - Thai DTA will prove that my Pension is not subject to Thai taxation.

Bingo Even though I know 120% that my UK Government Pension is not taxable in Thailand. 2 Agencies I am going to go out of my way not to upset, Immigration and The RD.

My low level RD employee told me that I did have to file my DTA exempt pension, only 3 weeks ago today. Even completed a draft PND 91 to use as a template for filing.

Yep Section 40 of the Revenue Code, which was highlighted in this mornings video. Mentioned in the very 1st segment of this mornings video, applies to both Thias and foreign tax residents.

Yes, there are 29 exemption listed in the Revenue Code, they are listed at Section 42, here https://www.rd.go.th/english/37749.html Good luck trying to shoehorn them into your annual tax return

This mornings video was quite clear. As a Tax resident, remit income after the 01 Jan 2024, it is assessable income, if it falls below the 120 / 220k baht, there is no need to file ( As per a normal Thai ) Over that amount, supply your evidence, and it wont be taxed, or a tax credit applied. It even gives you a big hint, A bank statement will prove your remitted income is pre 01 Jan 2024 savings, and will not be taxed.

Can you give me a time stamp for that ? I doubt I missed it, but ai could have down.

Sure, No tax return is required if you remit less than 120 / 220k baht a year.

Nailed in the latest video. Tax Resident, remit income after 01 Jan 2024, it is assessable income. Some of that assessable income will not be taxable, due to DTA's etc

Is that the best you can come up with ? How about a rant claiming this latest video is wrong ? Like you had over the Siam Legal video ? Tax Resident in Thailand, remit income from 01 Jan 2024, it is assessable income. 1. Below certain levels, no need to file. 2. Above those levels, file a tax return. Show your evidence / Paperwork as to why that income is not taxable in Thailand.. 1. Bank statement for prior 01 Jan 2024 savings. 2. Your DTA, to show the " Exclusive taxation Rights " 3. Your DTA and tax payment record, to claim a tax credit 4. Your Magic Visa. All in the latest video posted today. And people are apparently still in denial, too thick to understand the basics or still looking for strawmen To paraphrase Carl Turner " So Thailand are now doing what most Western Countries are doing "

Nothing. That wont stop some engaging in denial, obfuscation and whataboutery to try and hide that truth. Agreed. And that is one of the reasons the UK is heading down the S Bend.

Just wait until Chomper gets here. He will lambast you for peddling fake news 😀😀

Carry on being a muppet.

120k is for filing as an individual 220k is for filing with your spouse. For most sources of income. There are some exceptions where the level drops to 60k.

What is assessable income, everything above 60/120/220k baht Tells you right at the start of the video. If you remit above these figures, are a tax resident, you are a taxpayer. Supporting documentary evidence will determine when that income is non taxable. * Your DTA * Your Special Visa. * Tax already paid will give you a tax credit. Might have mentioned this previously, and the video highlights it quite clearly, Income from Section 40. Is Assessable income ( Above 60 / 120 / 220k baht ) and potentially taxable. The 3 bullet points above will make it non taxable.