JJ-Thailand

Correct, the tax code hasn't changed, only the definition.

We know that Imm and TRD are sharing data, anybody that has been in Thailand for 180 days or more might be audited.

The Thai government wants to attract more foreigners to Thailand by imposing taxes on us. Brilliant idea! 😂😂😂

Don't buy the house!

Unfortunately, the Tax Clearance Certificate already exists but hopefully we will never have to use it. More to read about it at TRD official website: https://www.rd.go.th/english/23518.html

Many people have this problem, but most local TRD would still not issue a TIN unless you need it to file your tax return in Thailand.

I agree, they might eventually implement a tax clearance certificate required for visa extension. Last time I was on a job in Panama I was not allowed to leave the country without a tax clearance certificate issued by the revenue department in Panama City, it stated that I had fulfilled my tax obligations to the country. I just checked if Thailand has something similar and they have but it is not used for people in our situation, yet.

It is correct, they are not supposed to issue a TIN unless you need to file a tax return.

The way I understand it, only valid for cash proven to be in a foreign bank account in your name on 31 December 2023. I could be wrong, but it makes sense.

Fully agree with you. What an unnecessary mess! I think the whole thing is a terrible mistake and still hope for a U-turn by the government, even if it is a bit late. However, I have already prepared the paperwork and will hand in my tax return (with zero tax) by end of March if there are no changes, the last thing I need now or in the future is any problem with the Revenue department of Thailand.

Correct, a transaction can be taxable but in the case of using my foreign credit card in Thailand, the capital is never transferred into my Thai bank account but into the seller's bank account. Right?

Guess who will own the casino? 😇

Thailand purchase submarines from China to protect the country from China?

Two different things.

Is the use of a foreign credit card in Thailand taxable? This is a question I can't find an answer to. Anybody? If I use my foreign credit card to pay for items in Thailand, do I have to declare this as an assessable income in my Thai tax return? - It is a transaction of capital to Thailand (a transaction is not taxable). - It is basically a loan, credit (credit is not taxable). - It will be paid off using foreign funds (foreign funds could be taxable).

There are other penalties as well.

As I understand it, to file or not to file has nothing to do with if you need to pay tax or not. 1. If you live in Thailand for 180 days or more in one calendar year AND your assessable income sent over to Thailand is above a certain level, you should file your tax return here. 2. If your assessable income sent over is less than 150,000 Baht after allowances and deductions, no tax to be paid.

It is No. 11 item 22. Add surcharge (if any) Enter the amount of surcharge (if any) of 1.5% per month (fraction of a month equals a month) of the total tax due. This is for late filing only, there are other penalties as well.

If I have a foreign assessable income sent over to Thailand that I have already paid tax for at source I would not worry not to file my tax return for this income as there is nowhere on the form to claim tax credit and the reason for this is that the revenue department has not yet updated the forms. The important part is that I have paid tax at source and would most likely not be fined. E.g. pensions and dividends. However, if I have a foreign assessable income sent over to Thailand that I have not paid tax for I would file my tax return for this income as it does not require a tax credit claim and could be considered to be tax evasion which could result in penalties. Form PND90 has not yet been updated by the authorities to include foreign capital gains but in PND90, No. 7 Assessable Income Under Section 49 (8) any assessable income can be inserted, e.g. capital gains from sales of foreign stock. I would also make sure to use all available allowances and deductions in order to avoid or minimize any Thai tax.

I understand it as any tax year in the future. Case 1 according to the official document by Thai revenue department.

Just make sure to save all statements, transactions and other documentation. However, I would be surprised if there will be any penalties for foreigners this tax year as the authorities have not yet updated the tax return guides and forms. They have also failed to educate the personnel at the local revenue offices. It is still a mess.

It is already implemented in Thailand; they got it all working last year.

A tax rate of 0% = No tax has been paid at source. It is not only about Thai regulations as double tax agreements override the local regulations, you'll have to read your county's tax agreement with Thailand. Download here: http://www.rd.go.th/english/766.html

They mean that any assessable income earned from this date and sent over to Thailand should be declared in your Thai tax return. Pension, dividends, capital gains, interest etc. You can claim tax credit if you have already paid tax at source, the double tax agreement between Thailand and your country will state which of the two countries has the right to tax each of your specific assessable income. All tax agreements with Thailand can be downloaded here: https://www.rd.go.th/english/766.html More, whatever was in your bank account on Dec. 31 2023 according to your bank statement can be sent over to Thailand anytime in the future without declaring it in your tax return. Make sure to save all proof in case they knock on your door in the future.

Do foreigners need to pay tax in Thailand? Read more in the only official document produced by Thai Revenue Department regarding the new tax definition regarding foreigners. https://www.rd.go.th/fileadmin/user_upload/lorkhor/newspr/2024/FOREIGNERS_PAY_TAX2024.pdf