The Cyclist

And that was my previous point. If I thought I was due IRO Baht 1 millon in Thai Tax, I would not be filing myself, I would be paying an accountancy firm to file on my behalf. And I will go out on a limb here. I doubt very few, if any posters on this thread will have a tax bill anywhere near Baht 1 million.

I can agree with that. With the caveat, that this is not Thailand pushing this, it is coming from outside Thailand. What Thailand will actually do, remains to be seen.

Just done mine on Thursday, no change. Ditto, under the UK- Thai DTA I will be filing nothing, but I will get an annual bank printout and attach copy of P60 and Statement of future payments and stick in an envelope in case I get a knock on the door.

How can the RD file it's annual compliance reports under CRS if there is 500,000 foreign expats that they have no idea who is doing what ? This is why foreigners here who are tax residents with ' Assessable income ' need to file tax returns.

This is quite a statement, from someone who cannot see that 1. Thailand implemented CRS in summer 2023 2. Tweaks to the rules were made a few months later, coming into effect for the start of the 2024 tax year. It's all just a coincidence and nothing to do with CRS 😀😀😀

CRS is intended to deter and detecttax avoidance by Tax Residents. It targets business entities, financial institutions and tax residents. How can an FI ( Bank ) and the RD sign off on their paperwork as a Reporting Entity if they haven't got a clue what is flowing through the accounts of Tax Resident foreigners ? Do you really think that Thailand came up with all this off their own back ?

If that is what you want to believe, crack on. Take note of the words " Transparency, cooperation and taxation " Some reading and understanding might benefit you. This might help https://www.rd.go.th/fileadmin/user_upload/FATCA_File/crs/Thailand_CRS_Guidance_280823.pdf

A tax accountant, there is a list of them on the forum Is it So you have never heard of a DTA ? I think this is the point that we say goodbye, permanently.

That is true, then they have the option of paying for Service that will cost between 10,000 and 20,000 baht, and they wont even have to worry about You will have to forgive me for batting away all these excuses, mostly from people who appear terrified that they might be on the hook for tax in Thailand.

Yes that is an option. Not worth the expense of bouncing around SE Asia or returning to home Country for 6 months to save maybe 10,000 Baht a year in Thai tax

Been through all this about a year ago. So your start point is OECD in conjunction with the G20. Which resulted in a thing called the CRS. Which Thailand has now signed up to and is implimenting, which resulted in the tweak that became effective from 01 Jan 2024. Do your own research.

No, some people might need to wriggle as long as they can to avoid reporting income. Those that wish to lead a relatively stress free life, will comply with the fairly easy to understand procedures, even it means one day a year becomes a bit of a PITA. Enforcement levels and possible punishments don't really come into it.

And that is very Individual specific And good luck fighting your corner on those if your paperwork is not 100% perfect.

If all the Russians, Chinese and Indians started jumping in the Chao Phraya river wearing concrete wellies, would you follow them ? Thai internal taxation policy has nothing to do with foreigners who are tax residents of Thailand reporting income remitted from overseas. This is a requirement of CRS which Thailand has signed up to. As always, Individuals can do what they think is best for them. Some people like to live their life on the straight and narrow, even if it means a once a year PITA.

I think that information is quite clear. Any tax resident of Thailand who remits in excess of 60k / 120k / 220k * in a tax year needs to file a tax return. As per the Revenue Code. An Assessment Officer will apply TEDA's and assess whether any tax is due. An Assessment Officer, not an individual. * Unless that income is exempt taxation in Thailand due to a DTA.

There are about 300 different types of Government Pension. A large majority of these are ' Unfunded ' and a large majority are also ' Non-Contributory ' These pensions come fron General taxation. They are only taxable in the UK, because the UK, lets face it, needs the money. Other UK Pensions, less the State Pension, you can cease paying UK tax on it and opt to pay tax in Thailand instead. Once the dust settles in Thailand, I'll crunch the numbers on my Private Pension, but I think I would gain by having it taxed in Thaiand, rather than a straight 20% in the UK. But that is for next year at the earliest The other thing to remember is that in the early 80's when the UK - Thai DTA was signed, sealed and delivered. Very few people had Private Pensions and the State Pension was about £30 a month

With that shirt and tie combo, that family will be a match made in heaven 😀😀😀

😀😀😀😀 That's @JimTripper and his better half Life must be getting hard for him, less than a year ago he was boasting about his 500 Baht electric bill 😀😀😀😀

Then you are a tax resident of Thailand. What happens after that regarding income depends on various factors. So as far as Tax Residency goes, income is a red herring.

Having no income in Thailand is a red herring, and your friend doesn't get to decide his tax residency. Staying in Thailand for 180 days or more in a tax year makes him a tax resident. Whether he needs a TIN, and file tax returns, will depend on the income he remits to Thailand during any years that he is a tax resident of Thailand.

Jesus wept Do you understand the above quote ? People who.... No mention of Race, creed, colour, religion, ethnic minority or immigration status You managed to extrapolate the above quote to immigration, that is your mentalism to deal with.

You can still see from the comments above. too many people have no idea where or why this is coming, or where it is being driven from.

Not my issue to deal with, if you and someone else interpreted the following as referring to all immgrants, Illegal or otherwise. I named very specific people in the above quote. Perhaps it would be more pertinant, for you to explain your mentalism as to how you came to that interpretation.

Kudos for coming back with your update. Hopefully it will be beneficial for some who are still confused over filing limits and limits where you start to pay tax. They, as I understood, are 2 very different things. On this I have no idea. I took steps in November 2023 to limit remittances in 2024 to my Government Pension. No tax, no filing, easy life"

People that........... Targetted at Individuals All these People....... All encompassing. Not difficult to understand, especially as I was referring to an Individual who has been arrested and is suspected of being a serial killer.