CharlesHolzhauer

This is very sad indeed. Thank you for the work and effort you put into the tax issues. You will be missed. Mike, I wish you well!

I didn't think that the recent remittance issue is covered in the tax guide - I'd better revisit and read again. Yes, I know - I am especially disappointed by the comments made by a couple of posters who have completely lost their heads. They previously commented on the tax issues in a more balanced and reasonable manner. Thanks for advising about Mike's absence.

Don't expect me to fall for your aggressive response. However, I regularly travel back and forth between my condo in Najomtien and my wife's house in the area around Buri Ram, and no, I would not describe these places as you did. With the absence of a bonafide retirement visa, the Thai government has always tolerated and accepted me as a Non-Immigrant and that is all I ever expected. I'm sorry it took you 20 years to realize that you're not loved by the Thai government. Well, policies with respect to Non-Immigrant visas/issues do exist. With the exception of LTR, obviously programs for retirees do not. Most retired individuals are ignorant to the simple fact that Thailand is not a retirement destination per se. In my experience there have not been any tightening visa rules and calling these rules complicated is just plain wrong. And name calling in newspapers or double pricing is and was never an issue for me.

I am not aware of this. Can you provide the link please.

I wonder about the absence of Mike Lister. Not only will he need to update The Simple Tax Guide, but I also miss his balanced and no-nonsense perspective on Thai tax issues.

But you still may have to explain the double tax treaty to the RD staff here etc...

Based on your own situation in Thailand, would a property in your name make difference?

The damage is being caused by very nervous people. I am not belittling the impact that the new law, if legislated and implemented, will have. It could indeed create an uproar. However, feeling threatened and unwelcome in Thailand seems a bit over the top, in my opinion.

The change in remittances did not require legislation. However, the latest 'bombshell' will need to be legislated and may take considerable time to implement.

Concerning - yes. If the law is passed then ignoring it would be unwise.

Isn't your scenario a presumption of what may happen? I am truly not aware that this particular tax law has been presented to the legislators and subsequently passed.

Don't you think for being disappointed and feeling gut-punched soon?

What evidence is there currently for getting over-taxed?

Because the not-so-affluent foreigners are swimming in the same river - it's called collateral damage. But there is hope and time for the government finding a creek dedicated to the less fortunate pensioners or old-age individuals.

Nor does a certain faction of people in your country really care for Asians...

Cherry picking does work, doesn't it. And from a contextual point of view your response is irrelevant.

Well, correct me if I'm wrong, but the intention of the current Thai government to tax residents in Thailand on income earned globally, whether transmitted to Thailand or not, needs to be legislated. However, the recent reinterpretation of Section 41 of the tax code does not and most probably will happen. Whereas the intent to tax residents on income earned globally is, at this stage, not ratified. Ratification of new laws may take some time and may never happen. And then again, it may not if strong political and authoritative forces back up this new law. However, the current dismay and disappointment among us expats is understandable, as we are considered 'collateral damage.' Since this proposal is in the very early stages, the Thai government is surely aware that most pensioners residing here for a considerable amount of time and (may or may not) supporting families and maintaining residences do not have the financial means for this additional tax burden. One would optimistically hope that the Thai government is morally persuaded to make some addendum to their proposed law to accommodate these individuals. Therefore, shouldn't we wait before predicting gloom and doom until the proposed law is presented to the legislators? I personally withdrew (cautiously postponed) my application for a LTR, as the new visa rules to be publicized in September may be surprising to the pensioners and/or people with a certain age in one way or another.

Who will see about that?

I guess Mike's Simple Tax Guide needs to be reviewed accordingly.

Why would you say something like that, are you trying to have an argument about my inquiry? Since there are so many proposed changes on the horizon I felt it reasonable to ask the author of the post as he seems to very knowledgeable about tax issues. And, like many others, I'll spend my remaining years here in Thailand come rain or shine, with tax breaks or without. Steer away from me - Ben Zioner, won't you!

I did not realize that the parliament could overturn a Royal Decree. Do I understand this correctly, and if so, could it be within the realm of possibilities that the tax advantages for existing holders of the LTR will be declared null and void, bringing it all to a level playing field?

Apparently there is a ratified agreement in place signed by both parties - but then again I wouldn't be surprised if USA backed out😐

Via CRS - a global financial reporting system where countries share financial data about each other’s residents.

Are you going to reveal your arcane knowledge to this forum?

That is moderately interesting but of little value to those residing in Thailand. The fact remains that Thailand is an independent and sovereign country with its own laws, rules and regulations. But you already knew that and acted accordingly.