Ricohoc

As those of us all know who have lived here for awhile: TIT. Keep your head on a swivel. Anything can materialize instantaneously out of thin air.

Probably bit off more than they could chew. Again.

You're correct, and there are several other scenarios that would produce the same result of NO TAXES OWED. I agree that requiring tax paperwork when nothing is owed may be a headache for immigration. Unfortunately, we're still faced with TIT; and there is no telling what may happen down the line to transfer the headache to us by requiring us to go to the local TRD and get a letter saying we don't owe anything. Of course, that would then require us to undergo an "audit of sorts" by TRD to prove/determine whether or not we owe. If that ever happens (and I don't think it will happen) I'll do what I need to do. It's part of just having a plan A, B, C etc. Head on a swivel.

Thanks for that info. After investigating my situation further, I won't need that deduction. All of my ATM withdrawals for at least the next 5 years or so are coming from savings prior to Jan 1, 2024. If that changes, both of my pensions from the US are covered in the DTA. So I'm free and clear until they find another way to get me. Thanks again!

Fortunately, I can show funds coming from pre-1-Jan-2024 savings for a dozen years. After that, social security and deductions will take care of all the years after that if current laws remain the same; but I'm not counting on it.

100% of what I brought into Thailand via ATM withdrawals came from savings prior to January 1, 2024 (and I have the receipts to back it up). If savings prior to January 1, 2024 is not a deduction, then the other current deductions and Social Security will zero out anything that I may owe. The US/Thailand DTA shows that both Social Security and state pensions are exempt. If that is honored, then that will zero out anything that I may owe. Looking forward to getting some more specific guidance from Thailand's RD, but I'm not optimistic in that regard.

End-of-year statement 2023 secured and waiting.

An end of year statement from my US bank will confirm funds held (millions of baht) in savings. As long as savings prior to Dec 31, 2023 are proven by bank statement, they're savings and not taxable under the current information.

Thanks for this. It seems to be different everywhere regarding the acquisition of a TIN, whether or not anyone owes tax, etc. from province to province. It's all very much like the differences at immigration offices. SO MANY unanswered questions by the Thailand government makes all the inconsistencies infuriating; and here we all sit.

Still way too much not specifically addressed in this effort to tax foreigners on funds brought into Thailand. There isn't even any kingdom-wide information on whether or not everyone needs a TIN and must file whether they think they owe taxes or not. - I have millions of baht on hand offsite in a vault. - I have millions of baht in US banks overseas prior to 2024. - I don't even deposit any funds in my 2 Thai bank accounts that exist only for visa renewal. - Funds brought into Thailand come through an ATM and remain in cash. Whether they tax us or not, I'm not anticipating having to pay any tax for a long, long time.

This reference to "living expenses" is something I have never seen before in these discussions. That is in the current tax law? That's the only reason I bring any funds into Thailand every month, and almost 100% of it is food, utilities, auto fuel, home maintenance. No rent, no loans of any kind to pay off, etc. Debt free.

After speaking to a representative at my local TRD office on Friday, as a tax resident, we are expected to file a return whether we have assessable income or not -- whether we owe or not -- if we are here 180 days or more each year.

I am 99.999% sure that I will be tax free -- unless there's a new wrench thrown in the mix -- but I'm investigating northwestern Laos just in case.

It is my understanding that nothing has been finalized as of yet.

I never said it was bad. If my experiences were negative, I wouldn't still be here. I still expect anything.

Anything is possible in the 21st century when it comes to taxes, money, governments and banks. I don't fear it, but I have been conditioned in 15 years here to expect anything.

I agree with you based on what I am reading today, but . . . TIT. They could tax it at the highest rate and then force you to claw an amount back with proof when you file.

Might be a good idea.

This makes more sense. "Spending isn't taxable."

I only recently got involved in this discussion after it became apparent that foreigners would definitely be taxed (as of this writing). I found conflicting information on the TRD website, but it appears to not be up to date. Everything else I have read shows the larger deductions. All of that said, nothing has been finalized, so we still don't know what's what.

Yes, I know. LOL I agree.

I hope this is sarcasm. I'd like to see what she would do in the House or Senate -- or even a state office before elevating her to something like POTUS.

As long as any POTUS defends the Constitution -- in its entirety, promotes Free Enterprise -- in its entirety, and embraces Individual Liberty -- in its entirety, whether they are a man or a woman doesn't matter to me.

I'm curious to know what exchange rate the TRD will assess to the amount of "income" brought into the country. Will it be the rate on the last day of the tax year, or an average, or what? In my case, there's at least a 100,000 baht difference between a USD rate at 35 vs a USD rate at 30.

Interesting. Yes, Visa and Mastercard and other similar bankcards are indeed loans. In my case, they are short term loans because I pay my balances monthly.