The Cyclist

As Baker MacKenzie is freely throwing about advice. Could you ask them a really simple question, that will not throw up more ambiguity. If I remit money to Thailand that has already been taxed in my home Country, something like a pension, will it get taxed again in Thailand ? It should really be a yes or no answer.

If people are complaining / worried about a 16% increase on a 400 baht monthly electric bill, I doubt that they will be in the market for an EV.

You're a funny guy It is not I, who has 260 posts on this thread alone, professing doom & gloom and the sky is falling in. Methinks it is you that needs a lie down and some form of medication. Yes, I know how DTA's work. That is why I have stopped 1 pension being remitted to Thailand, the other pension will continue being remitted direct to Thailand. Yet again, I will refer you to the paragraph in the original announcement ( that you fastudiously ignore, or are incapable of understanding ) that people from Countries that have a DTA with Thailand will be exempt. Not rocket science. But it will make life rather unpleasant for people who have been using loopholes to avoid paying tax. Do you fall into that bracket, and could that be the reason that you have 260 posts in this thread alone? The lady doth protest too much springs to mind.

What part of this did you not understand ? I then caveated that by saying Just for good measure, I will throw another one at you. What is the purpose of the CRS, designed by the OECD, at the request of the G20 ? Is it to 1. Catch people using loopholes to avoid paying tax. 2. Ensure that people who have paid tax are stung for further tax in another tax jurisdiction ? Remember. This is OECD led not Thailand led.

The only answer to that at this moment in time, is try it and find out. Nothing will jump out at anyone if you have been living here permanently for an extended period of time , 3, 5, 10 years and suddenly you change circumstances to ensure that you fall below the 180 days tax residency but continue remitting money. The whole premise of the OECD / CRS which Thailand is implementing from the 01 Jan 2024 is to close loopholes that have allowed people to avoid paying tax, either in their home Country or in Thailand. People who have been using these loopholes to avoid paying tax, now have a choice, pay tax in your home Country or pay tax in Thailand, or spend a fortune Country bouncing.

I think the paragraph from the original September statement is quite clear and concise. Persons from a Country with a DTA with Thailand will be exempt. * I will make an assumption, an assume that this will cover income that has already been taxed, and will not cover income that has not been taxed. You make a loud noise about ignoring people that don't buy into your negativity, yet go out your way to ignore a certain paragraph from the original announcement. Rather bizarre.

Mr A would not pay tax on a single remittance of 16,000 Baht ( Anyone sensible would just lift the 16,000 Baht from an ATM ) It is highly unlikely that Mr A would pay any tax if he remiited 16,000 Baht every month for the whole tax year.

I agree. There are 1000's of the clowns currently in Dubai, having mostly flown in by Private Jet for COP 28. The irony of their actions totally escapes them.

I am under 65 and have 2 pensions. I have not long qualified for free entry to the nearest water park

Yes, I would think for UK expats a P60 would be all that was required. It shows the income and the tax paid in the previous year. It should not matter that the UK's tax year is different to the Thai tax year. In the case of UK pensions, mine also send with my P60's a Statement of future Payments which shows monthly amount and monthly tax paid and very easy to tie together with a Thai bank statement.

I dont agree with it, but I am neither the IMF or other International Institution. Take your buts up with the IMF.

Best take that up with the IMF and every other International Organisation.

For comparison, French GDP grew by 0.1% in the third quarter. Many so called advanced economies will not grow by 1.5% in the whole of 2023.

The UK - Thai DTA states quite clearly that only Government Pensions are specifically covered, ie, only taxable in the UK. Other UK pensions that are taxed in the UK will be covered by some form of credit system. What that will be remains to be seen. I am still of the opinion that any income taxed in the UK will not be subject to Thai tax when it is remitted to Thailand. Possibly nothing more than a paper exercise, show the income, show the tax paid, job jobbed. After all, that is the reason for a Double Tax Agreement, so that you do not get taxed twice. Which probably means getting a TIN and filing a tax return, listing the income on the new part of the tax return, which is currently being updated* * Would be pretty strange updating a document to include a section for income covered by a DTA, to then not use it. The main issue for some will be proving that the income has actually been taxed, which most likely, will be an issue that will not be specific to the UK.

Nothing wrong with that in theory. The problem arrises when that debt gets out of hand. See most Western economies for further details. I believe that you are correct.

Do none of these clowns never consider that infinite growth is impossible on a planet with finite resources ? Robert F Kenendy nailed GDP as a measure of anything way back in the 60's. Probably more true today, than it was back then.

It might become false when the Thai Government / RD clarifies the paragraph in the original announcement that stated - and I paraphrase, but it has been posted verbatum across various threads. " People from Countries that have an existing DTA with Thailand will be exempt " Individuals are free to read into that what they will. For me the meaning is absolutely crystal clear. I am not French, therefore not really interested in the France / Thai DTA or the tax implications. Indeed it will be. And as I have said on many occassions, the only expats who will probably be caught up are expats that have been using loopholes.

With up to £8 million a day required to house illegal guests, no Government, Tory or Labour will be unfreezing State Pensions.

My lump sum from my Private Pension stayed in the UK, the monthly pension came to Thailand. This was 2020, long before the current hullabaloo Both my pensions send P60's and Statement of future payments. The Statement of future payments show the monthly payment and the amount of tax deducted. I'm sure you know what info is included on a P60. I asked on this forum if The DWP sent out P60's for the State Pension and apparently they don't.

Long time ago when I opened.a US$ account Proof of address ( Rental agreement ) Passport US $500 Things probably changed now, but you could walk in with those in hand and see what they say.

Yes it is, because the more simple it is the easier it is for everyone to understand and act on. A big fan of the KISS it principle Which is why I believe that income from Countries with a DTA in Thailand will be exempt ( Providing it has already been taxed of course ) They will keep it simple and focus on incomes that have not been taxed.

I know there will be no additional tax on my State Pension. 1. Because I am not old enough to claim it. 2. It would also be taxed in the UK, so unlikely to be taxed again in Thailand Sure, it would be pretty stupid not to. That doesn't mean that any action I take to minimise any impact should be taken as gospel that something is going to happen for a fact. I have said it often enough on this thread. If you are remitting money to Thailand that you could have difficulty in proving that tax has been paid on it, stop remitting in the short term, until clarity is gained. What eejits should not be doing is saying that they are doing X,Y or Z because it will be taxed in Thailand. Of course, those who are avoiding taxes due to various loopholes might be in a different boat.

Forgot this part above. Did your contingency planning not go something like this ? 1. Gather the facts 2. Assess the fact 3. Formulate a plan 4. Execute the plan. Points 2, 3 and 4 are a waste of time and effort until point 1 is nailed down. Guess it all depends where you learned your contingency planning.

What it means to me, and others are free to agree or disagree, is that if you are from a Country that has a DTA with Thailand, and are remitting income that has already been taxed in the other Country it will not be taxed again in Thailand. If you happen to be using loopholes to avoid paying tax in the other Country, then it is possible / probable that you will be nabbed to pay tax in Thailand. How the workings of that pans out, has yet to be announced and we will have to wait and see. It could be * A blanket exemption, but subject to individuals being audited. * It could mean going and getting a TIN and filing a tax returm Yes, I am and I have. The UK - Thai DTA is crystal clear on pensions. That is why my Government pension will continue to be remitted to Thailand after the 1st January, my Private pension will go to my UK account until I get clarity. Having said that. I still do not think that Thailand will try and tax income that has already been taxed in the UK. Nothing wrong with that. Is there any real need for people to splash speculation iall over multiple threads as if it were fact ? Speculation is not fact and does not actually help anybody.

You're a funny guy Just have a read back over the last 145 pages and you will find hundreds of posts containing fear, speculation and tantrums. The original announcement stated that foreigners from Countries with a DTA with Thailand would be exempt from these changes.. Which is no different to @Dogmatix Singapore gripe. The wording might be slightly different, but the end result will be the same. The paragraph has been posted multiple times across various threads, so it would be a fair assumption to think that most people have seen it.