
The Cyclist
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Rachel Reeves to Revise Non-Dom Tax Rules Amid Wealthy Exodus
The Cyclist replied to Social Media's topic in World News
Hah Too funny 😀😀 It will be different this time, or something equally stupid. -
To the best of my understanding. The only exempt foreign income, is income prior to 01 Jan 2024. Any foreign income after 01 Jan 2024 and remitted in 2024, is automatically assessable income, regardless of source. Tax residents require to file a tax return if that income exceeds the 60 / 120 / 220k assessable limit. Which then brings in DTA's It will then be exempt Thai taxation, due to Country X, Y or Z having exclusive taxation rights. Or Tax Credits will be applied, to ensure that double taxation does not take place. Certain Thai visa's quite possibly also exempt people from paying tax on overseas income
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Some streams of Income are exempt taxation in Thailand, or to use the wording on a DTA, can only be taxed exclusively by country X, Y or Z. ( Which pretty much makes them exempt ) Some income streams are taxable in Thailand, but will be subject to a Tax Credit to ensure that they are not taxed twice. Royal Decree 18:does not say exempt from filing a tax return in compliance with Tax Laws if you are a tax resident of Thailand.
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I believe that the Revenue Department has. It goes along the lines of, as a tax resident, if you earn income in 2024 and remit it to Thailand in 2024 it is assessable income for tax purposes. The Thai Guy, a tax Consultant, reiterates that. Perhaps you could explain where a DTA, exempts anyone, from filing a tax return, in a Country where they are resident for tax purposes ? Or perhaps you would like to revert back to the mantra of, a DTA says my income is non assessable in Thailand for tax purposes. Only it doesn't. As the Thai guy, who is a Tax Consultant, reiterates.
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Rachel Reeves to Revise Non-Dom Tax Rules Amid Wealthy Exodus
The Cyclist replied to Social Media's topic in World News
Why would Thailand need tax agents that speak 40 languages ? Tax filing can be done in 2 languages, Thai and English. But the poster is correct. Tax people too much, and those that can leave, will leave. -
And ? He is Thai, he is a Tax Consultant that works for Siam Legal. People only need to ask themselves one simple question. What is the purpose of a DTA ? And the answer is to prevent Double taxation. It is not, and never has been, a document that exempts anyone from filing a tax return, in another Country where they are a tax resident. That it has been ignored, un-enforced, or nobody gave a **** in the past, does not change the purpose of a DTA.
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This Thai, Tax Consultant is not an anonymous poster Particular attention should be said about what he says about US Social Security ( And by extension, other pensions that are only taxable in the other Country ) And this is my understanding of DTA's 1. They ensure that a person is not double taxed. 2. They do not exempt a person from Tax filing. Up to the 3 minute mark covers debit / credit cards. 3 minutes onwards covers everything else.
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Possibly Or as I have said previously, they might just produce a new form ( Lets call it a PND 92 ) for foreign tax residents. Leave the current PND 90 / 91 for Thais and people who work legally in Thailand. There really is no need to update those 2 forms to deal with stuff that falls under DTA's etc.
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Sainsbury’s to Cut 3,000 Jobs Amid Rising Costs and Tax Increases
The Cyclist replied to Social Media's topic in World News
Sainsbury makes the headlines the reality is somewhat different https://www.theguardian.com/business/2025/jan/24/uk-inflation-bank-of-england-interest-rate-dilemma-flash-pmi Budget for Growth Growth Growth -
Rachel Reeves to Revise Non-Dom Tax Rules Amid Wealthy Exodus
The Cyclist replied to Social Media's topic in World News
The damage is done. Why would they even think about coming back. -
Lazada - No Banking App payment anymore?
The Cyclist replied to OneMoreFarang's topic in General Topics
Other than upgrading my IPAD, I have no idea. Yes, my LHG can still use the cash on delivery method, and i'm sure millions of others can also. For reasons unknown to me, I am not one of those millions. -
Minimum required to live comfortably at a young retirement age
The Cyclist replied to PomPolo's topic in General Topics
The only point of view that carries any weight, or actually matters. Is the point of view held by you and your wife.