The Cyclist

Are you a UK Citizen ? Then it is entirely possibly that you are a UK tax resident, even though your KSA salary is tax free, providing you stay less than 90 days a year in the UK. Can be done online. If you spend your time between Thailand and KSA, open a Foreign currency account in Thailand, end get your tax free salary paid direct to the FCA in Thailand. Probably a lot less hassle than trying to open an offshore account. Been there, done it and got the T-Shirt.

Given that you work in KSA, are you an actual tax resident of Thialand ? If not open a Foreign Currency account in Thailand and have your tax free salary paid direct to that. If the interest generated in the UK is going to make things messy, an accountant can deal with your tax affairs for about £500 a year, which is tax deductable.

It has been provided on numerous occasions. That you cannot understand it, is your issue to deal with.

This is absolute garbage, to put it bluntly.

Here is the latest from expat tax No doubt some will come along claimimg fake news and conspiracy.

Thanks for your input. Yet again you miss the point. Which is that according to the Siam Legal video, someone could legally challenge the ' Interpretation of the new rules ' For anyone that has an issue with the amount of tax that has been assessed by the Revenue Dept, there is a grievance procedure. Which can be found here https://www.rd.go.th/english/23517.html 2 very distinct and different things.

Sure, that is what the guy says in the the Siam Legal Video. But lets be serious for a minute Scouse. Is anyone really going start legal proceedings for something like a Baht 5000 tax bill ? No ide what the legal costs would be, but I have no doubt that they would be many multiples of that Baht 5000 tax bill. I think what he was referring to was some Thai Billionaire challenging it.

The keys are being put in the ignition on the back to the 70's buses https://www.theguardian.com/society/2024/dec/10/union-anger-over-labour-governments-insulting-28-public-sector-pay-plan https://www.theguardian.com/business/2024/dec/09/uk-job-vacancies-fall-at-fastest-rate-since-pandemic-as-business-confidence-slumps Keep believing folks, never here Kier has got it all under control 😀😀

If renting is your thing, rent away. If commitment is your thing, find someone and commit away. What works for some, may not work for others.

You wont find it, too many posts were deleted as DTA were deemed off topic as it contradicted the Revenue Code mantra. However you might find my big 4 window cleaner quip. Which was in reference to someone not knowing that an International Agreement ( DTA ) takes precedence over Thai domestic Tax Policy / Law.

That is what happens when someone edits and deletes posts, because some called him out. Why do you think I took a 6 month sabatical ? Only to come back and find that the poster / moderator by the name of Lister has disappeared. DTA's should have been the go to Bible for everyone right from the get go. The Revenue Code then applies to those that remit assessable income over the threasholds laid down by the Revenue Code. The one size fits all is still being trotted out. See the video by Mr Hart lambasting the other bonehead that said " All Expats need to get TIN's " Because that is all they have. Ditto, like I really care about those idiots. I'm sitting here, knowing that I will be filing nothing, owe the Thai taxman nothing, and they can come and audit me anytime they like. And if I can point someone else in the correct direction, it will have been worth it.

I'll second this But will also add. The initial thread on this forum contributed to the chaos and confusion. I wont comment on whether that was by design, incompetence, or deliberate. It caused confusion and chaos by 1. Trying to adopt a 1 size fits all methodology. 2. An almost cult like devotion to the Thai Revenue Code, which does not apply to all expats. 3. Someone unable to distinguish between a DTA and the Revenue Code, and what takes precedent. All of the above, highlighted various times, before I took a 6 months sabbatical.

Did she not have to sell her fur coat and knickers to fund a defamation case she lost, over a £ 1 million in legal costs 😀😀

Since I am I dont like taking liberties. No formal time limit, is the key words. Anyway, the media screw is starting to turn, https://www.theguardian.com/commentisfree/2024/dec/09/labour-planning-laws-local-democracy-homes https://www.theguardian.com/politics/2024/dec/09/human-rights-for-syrians-but-perhaps-not-for-saudis-in-labours-middle-east And this is one to revist in 6 months time 😀😀 https://www.theguardian.com/politics/2024/dec/09/keir-starmer-says-saudi-arabia-trip-fulfils-number-one-mission-to-grow-uk-economy Growth ? I wonder who will be correct, Starmer and Reeves or the multitide of economists who say the opposite.

Your Government Pension does not need to be declared, as it is only taxable in the UK. Your other pension should be declared, if it is above the tax filing thresholds in Thailand. That does not mean that the non Government Pension will be taxable, once TEDA's and UK Tax paid are taken into consideration. If you go back to Novemeber last year, this is exactly what I said I was doing. Government Pension will continue to come direct to Thailand. Last payment on my Private Pension to my Thai Bank account was 15 Dec 2023. It was then paid into my UK account and will continue to be paid into my UK account until clarity / sanity comes to this tax debacle.

And now we get close to the truth.

That remains to be seen, however the King could refuse Royal Assent.

We are only a few months in, best wait and see. He doesn't have to agree to a dissolution, he can simply withold Royal Assent, which would cause the Government to collapse. Posted it on here somewhere. Raynor is the darling of the Unions, and will be annointed when Starmer is ousted ( stabbed in the back ) by his own Party. Reeves Budget and Raynors workers bill, have just destroyed much of the UK. The effects are just starting, see post above. And Milliband with his Net Zero, not even going to go there. At some stage, a grown up has to step in, before the destruction is terminal and cannot be reversed.

And so it begins https://www.thetimes.com/business-money/economics/article/economy-likely-to-shrink-as-budget-gloom-spreads-t6kddgn85 A singer by the name of Yazz had a hit with a song called ' The only way is up ' This Labour Government prefer to emulate Status Quo's ' Down Down ' Starmer & Reeves, 2 of the most uninspiring, robotic, wastes of space to inhabit No 10 & 11 Downing Street.

I never said or suggested otherwise. I was referring to a posters 2 x UK Pensions There is a long list of incomes that are not assessable for tax, or liable for tax, in Thailand. I didn't mention any of those to the poster either, he was asking about his 2 x UK pensions, which will be classed as income, assessable for tax, and depending on the posters individual circumstances, may or may not, require the poster to pay some Income tax in Thailand.

Were you born that way, or was it just something you worked hard at all your life ? I was referring to a poster with a UK bank account and 2 x UK pensions going into that bank accout. What would happen when he had reduced the Balance as of the 31 Dec 2023 to zero, and how his 2 x pensions would be classed when he subsequently remitted them to Thailand, which would be income of some description. I wasn't referring to bank loans, Inheritance, lottery winnings or robbing banks, only the posters 2 x UK pensions.

Something specific to you does not apply to the poster with 2 x UK Pensions, who wanted to know about remitting money that was in his UK bank on 31 December 2023. So what you do with your bank loan and inheretence from your grandad, is entirely up to you.

Here is a nice simple flowchart that explains it in simple terms The left hand column explains banks identifying the Tax Residence of their customers. Kbank has already started this process and there is a thread on the forum. The right hand column explains the tax residency of individuals. Which is generally, including Thailand, 180 days or more in a tax year. It should also be noted, that individuals can be tax resident of more than 1 Country, and this should be declared by the individual. If you have any other questions, regarding CRS, Thailand, The Thai Renevue Code or Tax residency. the information is freely available in the public domain and I suggest that you should dig into it yourself, as what I am posting here, is only my opinion on what is written down in the various publications.

You hve read the 324 pages already ? https://www.oecd-ilibrary.org/taxation/standard-for-automatic-exchange-of-financial-account-information-in-tax-matters-second-edition_9789264267992-en Get back to ke when you have went through the whole 324 pages.

The balance on the bank statement dated 31 December 2023 will determine the amount of savings. Once that balance has been remitted to Thailand ( savings used up ) any further money remitted to Thailand are no longer savings, and you are remtting income, of some description.