oldcpu

EXACTLY WHERE in the video. I am not going to waste my time going through yet another video unless you point out the exact time. I already pointed out local Thai RD (more than just one rogue RD tax department) have stated for some no TIN will be provided and a tax return not required (for those tax residents specific financial situation). I have already pointed out a Thai RD help line stated no tax return required for those whose assessable income is too low. And all you have is a video where you can not even point out exact time where allegedly what you claim is the case? Pathetic.

Decades eh ... pure exaggeration on your part. ... Plural , no less.

Really ? Decades? Are you certain on that? EDIT: I vaguely recall it was much lower in the 1990s, and only changed some time after year 2000.

So what ? The Thai RD is quite public that they work on a system where the tax resident needs to evaluate if they have sufficient assessable income to file a tax ID. My suspicion is if we are talking ENORMOUS amounts of money, or if the Thai RD has other reasons to check up on a person, they will they bother to check up on those who legally do not file a tax return. You and I have very different views here. Mine are backed up by a local Thai RD. Also backed up by a forum user who phoned the Thai RD help line. Your view? Maybe at most backed up by your speculation, and the youtube videos of some Tax advisors who are possibly hoping to generate income by frightening some to submit tax returns when legally NOT required. I know whose view I am going to follow. .

If doing nothing would cause problems downstream, why would a number of Thai RD offices tell the foreigners who are tax residents that given their circumstances they (1) did not qualify for a Thai TIN, and (2) did not have to file a Thai tax return. .

I am not convinced that the case for the Thai RD help line. Just the opposite. Definitely NOT useless. Very very very far from it. As I already noted, I give that help line far more credence than I do a local RD tax office, and more credence than the youtube bloggers/professional tax advisors who have not asked that specific question of the RD. Instead the blogger/tax advisors give their own interpretations, and I have already pointed out cases where the tax advisor/bloggers (on their website) clearly were wrong (or best case misleading).

According to my Thai wife, it depends on one's age. After one reaches a certain age, there is no need to renew one's Thai ID card, and she claims the same practice applies to the pink-ID.

I used to have a type-O, and when my LTR expires I may go back to one, considering my age. I also used to trade currencies for a living.

My error. I misread your post. As noted, if one remits foreign income from any year, to Thailand, when earned in a year when one is not a tax resident, and remitted when not a tax resident , then there is no Thai tax on such. On defining residency for taxation purposes, Thailand has relatively favorable laws there where one only needs to stay out of the country more than 185 days and one is not considered a Thai tax resident. For some other western countries ( Canada comes to my mind) one must do more to be considered a non tax resident.

I used it to buy super dirt cheap Australian dollars, as I no longer need it being on an LTR visa. Given drop in Aus$, that was worth more than 10% return while in Thai baht

... and better on the Australian dollar is safer? Hows that working out for you? ... I leave in a few weeks for Australia - given week Australian dollar, I thought i would go there and spend some of my Thai baht (which did better MUCH than Aus$ the past year).

My case is you can not accurately predict it will happen. The future is not ours to see. .... (see below) ... I just went on the record. I believe neither of us can accurately predict the future. What concerns (?) you have may indeed happen. It may not happen. It hasn't happened yet. Not yet today, not yesterday, not a decade ago. So ON THE RECORD i make no predictions, but I think those who make such predictions are going out on a limb. Vietnam is a nice country. I have a former work colleague in Germany, who has a Vietnamese wife. He is thinking when he retires he and his wife will move to Vietnam from Germany.

In case of immigration offices, the local immigration offices do LEGALLY have a lot of leeway to interpret the rules the way they see fit. I think in the immigration threads, that has been noted time and time again. As for the local RD taxation offices, i suspect they too have some leeway, although there is so little reported (yet) on this, I think most of us don't yet have a solid assessment as to how much leeway.

The cynic in me is thinking , if they clarified things too much, they would not get as much business.

Who can predict the future? One can also NOT say it will ABSOLUTELY happen. The future is not ours to see.

I don't believe that correct. Its only for income realized (earned) in the year in which one was a resident of Thailand. That is consistent with Por.161.162, where it notes the remitted income must be assessable income to be taxed. Please note, and this is very important .... Income earned, when one was not a resident is not assessable income, and it does not magically change to assessable income when brought into Thailand if one still a non-resident. However income earned abroad, when one was a resident, will be assessable income when remitted to Thailand. The officials from those 'big accounting firms' whose names you do not mention, would be well served to call the Thai RD help line and get their interpretation straightened. Further, ... don't forget with the caveat it needs to be income from 1-Jan-2024 onward, and it needs to be assessable in consideration as to what is in the foreign source income country's DTA with Thailand ... and also one's Visa (such as an LTR-WP, LTR-WGC, and LTR-WFTP) needs to be taken into account. If what you type is accurate re accounting firm interpretations, it is disheartening to read of big accounting firms making such errors.

The math as I understand it ... (where it all boils down to the Thai baht currently being very strong compared to 1 year ago vs Australian dollar). Looking at the Australian Dollar. A year ago, 800k THB was worth 800,000 THB x 0.043191 = $34,553 AUD$ Today that 800k THB in a Thai bank is worth 800k THB x 0.047411 = $37,929 AUD$. Add to that 1.5% interest (in THB & convert to AUS$) and one has $38,498 AUS$. ie relative to the AUS$, one has seen the value of their THB (converted) to AUS$ increase by $3,945 AUD$ Conversely a year ago $34,553 AUD in an an Australian bank in Australia, at 8.5% interest, today is worth only $37,490 AUS$. So the person who kept the 800K THB in a Thai bank actually saw their THB increase (compared to keeping in Australia) by $38,498 - $37,490 = $1,008 AUD$ They are better off by $1,008 AUS$ . i.e. ~2.9% better off on that 800K amount because the 800k THB was kept in Thailand (instead of keeping the money in Australia given a weak Australian currency). Of course if the AUD$ had been stronger vs the Thai baht, this would have been different. These things are not always as straight forward as one may think..

No. No. No. I have my bank statements showing no money coming into the country. The RD can access those if they want, or they can simply believe the statements that I provide them (if ever investigated - which given no income remitted is highly unlikely). Are the typed (ie in writing) bank statements not good enough? I believe one must not be too paranoid over this.

Well stated and very polite. If I may be a bit less polite, the past year the Thai baht is up: * 9% vs the euro * 6% vs the US$ * 9% vis the AUS$ * 11.8% vs the NZ$ 800k THB in Thailand bank, for the past year has done better than similar in foreign accounts outside of Thailand. So to think one is doing better with a foreign currency account in a foreign country, compared to a Thai bank account getting a measly 1.5% interest ?? is not always the full picture. IMHO - of course.

I was told they were associated with CRS requirements .. but I can't recall exact details ... nor can I be 100% certain they told the truth. I was not going to spend hours (days ?? ) trying to find out what exact forms are needed for CRS to verify the bank was telling the truth. They simply wanted Tax ID number, passport #, .. and certification that what I provided was accurate (they already previously had passport info). They did not have me promise nor agree to anything OTHER than myself certifying I was providing correct information. The bank advised ALL other expatriate customers were required to fill in such.

According to the Phuket RD official, in my case where I am a tax resident to Thailand, and in my case bringing in no income into Thailand, and not having assessable local Thai income to reach the Thai tax filing threshold ... and hence I am NOT filing an income tax return, per THE RD DIRECTION, what you stated would not happen (in my case). They were clear on that for my case. I am going to go with an official of the RD office directly told my wife and myself, and not your rather speculative concern. As I have posted many times, each expat needs to evaluate this on their own.

UN ? Did you mean UK ? US? ( ie a typo) . .. If you mean simply not a Thai tax resident, then perhaps add a caveat to that where it depends on the DTA of one's pension income source country, and also depends if on an LTR visa, as for some of us this is no an issue due to our DTA and/or Visa. My apologies if that was a typo and I didn't follow through fully. For those of us who do not have UK nor US incomes, we tend to gloss over a bit posts specific to those two countries.

If that is true, why wouldn't the tax authorities inform every expat retiree in Thailand on their obligations and failure to comply penalty up front, much like they are advised in advance on their immigration status? Without any notification upfront of this from authorities there must be thousands of expat retirees who know nothing at all and will continue as they have done in the past. Its not totally accurate. WingNut either misquoted the official, or IMHO the official made a mistake or did not provide enough amplifying information/caveats. I believe it ONLY if one's ASSESSABLE income exceeds the tax filing threashold AND if one is a tax resident is a tax return required. We have had DOZENS of posts on this topic on this Forum. One of the users PHONED the Thai RD help line and confirmed that a tax return is NOT required (even thou one resides in Thailand more than 180 days) if one's assessable income does not meet the reporting threshold. Further, I was told by a Phuket RD official that if I remitted no money into Thailand, and if i had no Thai income, i did NOT have to file a Thai tax return.

Krungsri had me fill in sign some forms when I went to update my bank book sometime back. I think Bangkok Bank did something similar to me when I was in the branch. I can't recall the exact form but it may have been CRS related. I don't stress over such as I try my best to follow the tax laws of the countrys where I get my income from, and Thailand where I reside. I do thou try to learn the relevant laws so i can best legally manage my tax exposure.

https://www.rd.go.th/fileadmin/download/english_form/030265guide91.pdf ... by omission (re: foreign income remitted by non-residents) , coupled with the Thai tax code.