The Cyclist

I have 3 accounts in Thailand * FCA. Last remittance Jan 2020 and would have had the RD doing somersaults with the amount of tax they could have collected. * Extension money account. Amount has never changed since it was opened. * Daily account where my pensions go. Which is about to drop to a single pension until clarity makes an appearance. None of them pay interest.

I know and understand the point that you are trying to make. The only answer available at the moment is ' No one has a clue ' In almost 15 years in Thailand, I have never filed a tax return in Thailand, I dont know anyone else who has filed a tax return in Thailand. That would include retirees and people working in O&G. The more I think about it, I think I would be correct in saying that I have never even heard it being a topic of conversation.

Just because it is tax free in the UK does not mean it is tax free when it is remitted to Thailand. If it is not covered by a DTA then it would be taxable when / if it is remitted to Thailand * * I make no comment on the ability of the RD department on how good or bad they might be at doing their job. ** If the figures quoted on Thai's not paying tax are correct, you might be able to draw your own conclusion.

Correct. And that source of income will either be covered by a DTA and therefore not taxable in Thailand. Or it wont be covered by a DTA and subject to Thai taxation, which you can either pay or spend a barrowload of money legally trying to fight why it shouldn't be taxed. Or you can make your own arrangements to stop that income being remitted to Thailand, whereby saving yourself grief, paying tax or paying legal fees to fight paying tax. Not really hard to understand.

The Global Warming deniers were the ones who had had to change script to Climate change. 6 documented Glacial and Inter-Glacial periods are testement to the fact that the Earths climate does indeed change. Not for the reasons that the tax them to the hilt and invent stuff lunatics claim. Sense of humour bypass operation was a roaring success.

That is probably just the heat signature from the structure in the OP 😀

The rules from the 01 January will have absolutely no effect on what you do in the UK regarding ISA's etc. They might be effected if you decide to remit that money to Thailand after the 01 Jan 2024.

Another glaring example of the war on Global Warming / Climate change is a big pile of horse manure.

The UK / Thai DTA can only be ' cancelled ' by the Thai / UK Government. The actual wording states something like ' In writing with 6 months notice ' I'm sure that every other Country / Thai DTA will have wording to the same effect. I am also sure that we would have heard by now if the Thai Government had made moves to ' cancel ' these DTA's. I think 1 of 2 things will happen. 1. A blanket amnesty will be announced, something to the effect that all persons on retirement visa / extensions that are from Countries with a DTA with Thailand are exempt these changes from the 01 January. 2. The worst case scenario is that we might have to file ' Nil Returns ' with the RD or some other method where we have to file paperwork with the RD, but being exempt Thai taxes. This would only cover income ( Pensions and such like ) that are specified in the relevant DTA. Do I think there is any need to panic - No Do I think that there is any need to make plans to flee Thailand - No Do I think much will change for most retirees - No Do I think that there are certain posters who are trying to spread fear and alarm - Abso@#$&*%&#lutely. Perhaps they could post the DTG of their next face to face with the Head of the RD and we can all rock up at the meeting and hear the doom & gloom straight from the horses mouth.

I have 2 pensions presently coming into Thailand. Both Pensions send me an annual P60 which shows the annual amount paid and the total tax paid. The both also send an Statement of future earnings. Which shows the monthly amount to be deposited and the tax deducted. It might be fair to think that all pensions that are above the £12570 UK threshold supplies the same information on an annual basis. No idea what the State Pension provides in the way of paperwork or pensions below the UK tax threshold. I suggest that if people are not receiving these, that they get ontotheir pension administrator / provider and ask for them to be sent.

See my edit above. Yes, that was my reply to Mike Lister, who has stated that his Pension is a Government Pension, which is totally different to a State Pension.

Portugal is doing away with its Golden Visa and 10% tax rate as it is claimed that it is causing chaos with the price of Social / affordable housing. How anyone can think that £500,000 and above properties causes chaos with the price of Social / affordable housing is discussion that would be interesting from a fly on the wall perspective. It has an interesting line about UK Government Pension https://www.telegraph.co.uk/money/retirement/retirees-are-living-the-high-life-in-low-tax-portugal/

I have never mentioned State Pensions ( Nor I am in reciept of a State Pension ) Some people would do well to understand that some people actually know the difference between a State Pension and a Government Pension. You can also throw in the difference in a Private Pension just for good measure. Happy ? Good, keep calm and carry on. Extra bit added I fully agree and accept that people who are remitting State Pensions / Private Pensions may well get caught up after the 01 January. We wont know this until further clarification comes from the RD. In the meantime, until such times as the muddy waters become clearer, it would be wise to take any steps people deem neccessary to limit their exposure after the 01 Jan, if they feel they potentially will get caught up in it.

What is the purpose of a DTA ? Is it not to ensure that the same funds are not taxed in 2 different Countries ? Perhaps you could explain why you are lost for words and why income that is not taxed elsewhere would be covered by a DTA ? Whilst you are scrambling about trying to come up with an answer. I'm still awaiting your explanation of how I have misunderstood the UK / Thai DTA, in that my Government pension( taxed in the UK ) is covered by said DTA and should be exempt from Thai Taxation.

Agreed as both those sources are covered by DTA's I have stopped 1 source of income as I am not convinced it is covered by a DTA ( Private pension ) working on the assumption that it is better to be safe than sorry, and end up double taxed. My Government Pension will continue as normal, directly remitted to Thailand ( Covered by DTA ) Other than that, I can see absolutely no reason to be getting excited at this point in time. Still have the 1st 5 months of 2024 to await clarification and decide if a course of action is neccessary.

Limit or cease to remit into Thailand after the 01 Jan and wait until the muddy waters clear.

I'm sure that people in Thailand who the above applies to will take note and act accordingly. It is of no concern to those that it does not apply to.

Hate to be the bearer of bad news. But a DTA will not cover as you are not paying tax in another Country. This is exactly what is getting closed down and not just in Thailand.

The very point that the doom-mongers cannot read or understand.

The only people who are preaching are the doom - Mongers. Assessable income, as per the new rules starting on 01 Jan 2024 appear to be * Earnings from occupation * Earnings from Business, * Wealth located abroad Remitted to Thailand. Not a single mention of DTA's that cover other sources of income. The doom-mongers have managed to extrapolate the above into immigration, fines at the airport and all manner of crap. Assess the facts - Formulate a plan - Enact the plan. There is no planning to be done ( as yet ) on the crap that has came out of the initial RD order or the piles of horse manure spouted by various doom - mongers Jesus H Christ, some people need to get a grip of their Y - Fronts.

I would have thought it would be far more sensible to await further clarification from the RD before getting too excited about what they might, or might not do. I might get hit on the head tomorrow by a stray golf ball and killed, should I cancel the round of golf ? Or perhaps get smashed into by a lunatic driver on the way to the golf course, perhaps I should just stay and bed and ruin my life by worrying about things that might, or might not happen.

That will depend on where that 65k comes from and if it is covered by a DTA. Someone above posted that this amount would incur Thai Tax of around Baht 10k a year. As yet, nothing has been confirmed and people will pay different amounts of tax depending on their personal circumstances.

What is worrying about it ? That newsletter refers specifically to " Taxation on Foreign Dividends " Tax paid in another Country will be offset against any tax liability in Thailand. Part 3, sub section B. That newsletter really only affects people who might be transferring Dividends into Thailand and not paying the appropriate taxes where they should be paying them. If you are paying the appropriate taxes the "Meh"

Indeed

That comment Sir, whilst bang on the money, will give the doom-mongers heart palpitations.