The Cyclist

It doesn't make any sense. The criteria for people to extend is 65k Baht monthly, 800k in a bank account or a combination of both. It is of no concern to Thai Immigration if that 65k is used to pay Thai Tax, buy 200 crates of the finest Chang or a for a daily indulgence in Exotic Dancers. The current ruling is a monthly 65k deposit, not 65k with an additional 5k just incase you need to pay tax.

The Thai RD that act on the instructions of the Govt. Governments in the main do not give a monkeys left testicle for people, other than how much they can screw out of them in tax ( direct & indirect ) and what freebies they will have to throw them in an attempt to get re-elected. We are not much more than tolerated by the Government, why would you expect them to go out of their way to address every single factor that might affect ex-pats. Which this thread shows are infinite and never ending Ahhhh but, but, but, whatabout ( insert your own whatabout ) There is enough information floating around to take the steps neccessary to limit your exposure to Thai income tax. If in doubt, do not remit ( or belt it in every day over the next week )

Something I have said repeatedly. The objective is not to raise a few quid double taxing people, it is to close various loopholes that have been used to avoid paying tax

Would CRS not be a concern to 99.9999% of people who fly under the radar in order to avoid paying tax ? Your second misconception is this Doesn't really matter ' what Thailand wants ' By joining CRS, Thailand will follow the rules and regulations set out by the OECD.

You are on the same page as me on the above. I'm not convinced ( though I could be wrong ) that income covered by a DTA will be classed as " assessable income " My thinking being, that if it is non taxable in Thailand due to a DTA then why would i5 be " Assessable " If you do not have any " assessable income " is there any need / reason to file a rax return. Perhaps the new form will also have a section for income covered by a DTA. Time will tell.

And I am still waiting on an answer on how I can get a NT tax code and pay Zero tax on my Government Pension by filling in a P85 For a Government Pension, a small income and some Interest on savings. Setting up venture capital trusts or enterprise investment is going way beyond filling in a P85 as you previously claimed. Now who is being dumb ? And it never took me 7 days to come up with an answer either, or resort to google

I was never a tax resident between 2009 and 2019, so they can query away to their little hearts content. In addition, I have seen nothing that this new interpretation of the rules starting 01 Jan 2024 is retrospective. It starts, and covers remittances from 01 Jan 2024.

Probably Ricardo, non of my Accounts in Thailand are interest bearing, so I have no idea how that actually works. It was a pointer towards the many people on the thread who have wailed that banks could withhold 15% of remittances, and / or, require people to go and get a TIN starting 01 Jan 2024.

Thankfully, by luck rather than design ( and the wise advice of an older guy ) the bulk of my money was remitted between 2009 and 2019. What will be coming in from the 01 Jan is more than enough to live on and any big ticket items will be gatting paid from the FCA. On that note. My 1st remittance od 2024 will hit my bank on the 03 Jan, it will be interesting to see if the much vaunted 15% withholding tax will be applied or whether I will be instructed to present my butt to the bank with a TIN. I'm guessing neither will happen, which will be sad news for the doomers & gloomers. Sure, some estimates are as high as 200 Billion a year for individuals and at least double that for Corporations

Good job @Mike Lister Clear and concise and should put minds at rest for British State Pensioners. though not too sure how many are living in Thailand solely on the State Pension. Could I respectfully ask you to amend the title to read ' British Expat pensioners ' or you know what is liable to happen.

Sure, the UK also has such a scheme where you can pay a flat rate ( Think it starts at £30k a year ) and goes up incrementally depending on how much your global income is. The current UK PM's wife was a beneficiary of such a scheme until it was outed and caused an uproar. No doubt Thailand would also adopt such a scheme.

That potentially would be a whole new ball game, although I am not sure how it would work. Would it mean I would no longer be taxed in the UK, but taxed in Thailand instead ? So I would certainly not fret about Thailand moving to a worldwide tax regime, until I saw the details and nailed down the implications I think people have to bear in mind, this is not about double taxing people, it is about closing loopholes that people have used to avoid paying tax.

If you have an issue with the estimate, take your expert opinion to the Guardian, who are quoting both the Port of Dover and Eurotunnel and express in the strongest terms your utter disgust at the false information being peddled. No point in barking at me, I couldn't give a ( deleted ).

I think that the wording used was " People from a Country with a DTA will be exempt ". The 2 ways that I read that are. 1. A blanket exemption if you are a passport holder of a Country with a DTA will be exempt ( But I wouldn't be surprised if people were invited to explain their remittances ) No need to do anything unless summonsed. 2. Get a TIN and annually tax file using the brand spanking new, being prepared paperwork specifically for income covered by DTA's. I wrote a detailed post last week on this very thing. By limiting my remittance to my Government pension, I will pay somewhere between Zero and a maximum of 80,000 baht. An Emirates return flight alone would cost IRO 50,000 baht A hire car for 6 months would cost IRO 200,000 baht I haven't even bought a pint of milk and a loaf of bread and I would be down somewhere IRO 170,000 baht. Bouncing around SE Asia for 6 months is also going to cost a good bit more than a maximum of 80,000 Baht.

Did you read the part I quoted from the article that you linked ? Best get onto the Guardian and express your displeasure that they are peddling false information, as in your opinion it will take much longer.

@whiteman Have a read at this from Page 63, New Zealand specific Entirely possible to have a tax free pension in NZ, how that would play out in another Country, Thailand for instance, is a kind of throw the bones in the air and see how they land guess.

Ohhhhh, the humanity. How dare the EU use biometrics in t his day age and age What world do these people inhabit when up to 10 minutes is classed as a significant delay.

C'mon then Mr Tax Expert Please enlighten all the British readers / posters how they can avoid UK Tax on their Pensions Rental income UK based earnings Interest on Savings. You will manage at a stroke to solve an issue that I have spent the best part of 20 years tryng to solve, with the assistance and advice of various. Tax Experts and accountants. You must be a really special person, special in the window licker sense of the word.

It's not his either, or he was utter crap at it.

Because some forms of income and pensions will always be taxed in the UK regardless of your resident / non resident status. Clearly it is not. Or you would know that there are forms of income and pensions that will always be taxed in the UK, regardless of whether you complete a P85. Would you like me to embarrass you by rattling some of them off ?

Thanks

The UK DTA states the same for Government Pensions, with the following exception. For example. A Thai National who garners a UK Gov Pension would remain taxable in the UK unless they return to Thailand, where it would not be taxed in the UK but taxed in Thailand instead. Other UK Pensions are not subjected to any ' exclusitivity clause ' but I am still of the belief that if they are taxed in the UK they will not then be taxed again in Thailand. Cannot copy and paste for some reason but Page 27, Article 19, Para 2 ( a ) and ( b ) of the UK-Thai DTA refers

What that says in a nutshell is that the Country where the pension arises, that Country has first dibs on taxing it. If that Country it is not taxing it, Thailand has second dibs on taxing it. As it is pension specific, the bottom line is ( As I have said many times ) if those pensions are not taxed in other Countries, you will probably be taxed if you remit them to Thailand. Or to put it even simpler, if income remitted to Thailand has been taxed at source, it is highly likely that it will not be taxed again in Thailand. Whether one will be required to obtain a TIN and file tax returns for pensions remains to be seen.

It was a genuine question. In the UK a Service Pension does not disqualify you from claiming the State Pension at retirement age. Neither does having a Company / Private pension.

Could you give this non-Aussie a pointer ? There are 1000's, probably 10's of 1000's of Brits who have both a Veterans Pension and the UK's State Pension. Is Australia different ?