oldcpu

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.

I wonder if this was a 'one of' occurrence, or if we will see more of this? The hope was that for some it would be better to switch from a Type-O non-immigrant to a DTV ... but if this is to be the case it sort of makes such a switch not such a great idea after all.

Yes - to a Type-O non-immigrant visa for reason of retirement. And they get new 'rights' then. < lol > But then they are no longer Visa exempt. Are they - right?

I believe for non-residents, that is only for Thai sourced assessable income, and not for remitted foreign income, even if such remitted foreign income is assessable income.

Fair enough. When I do visit Europe (typically for 6 weeks a year) that is my residence. i see your point. I actually did change my address to Thailand for a couple of years, but when I needed to change my Wise debit card, I had a problem (they would not ship to Thailand), so I changed my address back to Germany ... and they happily shipped my card there. i picked it up a few weeks later when visiting Europe (and staying at that address). Perhaps Wise has changed their policy since when I was using a Thai address ... (I received a replacement card late last year @ German address and I have not changed my address back to Thailand again).

Do you have any friends or relatives in the USA who will let you use their address? Other countries you could try (with relatives and friends are most EU countries, United Kingdom, Canada, Australia, New Zealand (and I suspect some others). Find someone you can really trust. Note you still use YOUR NAME, you just note the address is 'care-of' your relative or friend. I originally obtained my Wise account (and debit card) while living/working in Germany. When I moved to Thailand, I changed my mailing address to good friend in Germany ... To something like: Mr. oldcpu z.H.d. oldcpu's friend's name (where z.H.d. is like c/o in English) street address city, germany postal code So I am not hiding anything. Its clear the address is at care-of another person's address. That has worked for me. .

and that is why you try to put the Visa 'down' . Because you don't have the visa. You need to get out more. You could not be more wrong. I repeat , those who have the Visa think it is what it is cracked up to be - and again you were proven wrong.

I recommend you give consideration to what other's have noted. There is a guide that gives more detail as to what goes in each of the fields in a Thai tax form. I have a partial copy of what I believe to be the wording ( but unfortunately do not have the referenced image😞 I believe you need a tax certificate if one wishes to use this field? The English language translation is not good but it does read to threaten a 'criminal penalty' if tax certificate not provided. I would not enjoy an audit in such a case if it were me and I used that field without the appropriate tax certificate.

and I did. You asked for something that those on a visa exempt can't do. I named it. Clear enough? You can't shift the fact you are wrong. You can not get a yellow book on Visa Exempt. You can't shift the fact that those on a type-O/OA visa, will have the right of having extra $$ in their hand after opening a bank account, while those Visa exempt will be $$ more poor after paying the agent. and I have YET to see anyone visa exempt, pay an agent to give them a one year extension. You clearly stated no additional rights. You have been proven wrong. .

Living in Thailand for 1 year can be considered a 'right' that Visa Exempt does not have. An agent won't get you a Yellow Book. An agent requires $$$ to open a bank account for Visa exempt. Those on the Type-O/OA can open without that and they have the 'right' to keep their money -as opposed to Visa exempt who has to give up that money to open the bank account.

I just told you. Try to get a one year extension on your permission to stay in Thailand on a visa exempt. I just told you. Sure if you want to pay a bunch of extra $$$$$ that those on the 1-year visa don't have to pay. Those on the Non-O / OA visas are out drinking and eating with that money, while those Visa exempt have to hand it to an agent in order to circumvent bank policy. AGAIN, without an agent, visa exempt you can't open a bank account. Having a yellow book, allowed me to use that# as a tax-ID, unfreeze a foreign bank/trading account, and make a timely stock trade earning me $40,000 US. Without the yellow book ? Nope. The local RD office denied me a Thai TIN. Is that clear enough for you. So I ask you again, try to get a yellow book on a Visa exempt. Try. I just did.

Glad to read that. Of course 30-day visa exemption stamp (and even on newer 60-day visa exempt) is no longer easy. It was possible 9 years ago ( I did such without an agent) but not so anymore.

I have yet to see anyone on a 30-day visa exemption stamp get a 1-year extension. Further, when on a 30-day visa exemption stamp, without use of an agent, try to open a bank account here. When on a 30-day visa exemption stamp, try to get a Yellow Book. All of those can be done with a Type-O or Type-OA visa for reason of retirement (albeit the yellow book can be a bit problematic at times to get).