UKresonant

Probably, (depending individual factors) "1" If earned and banked before 1st Jan 2024. No ( best keep in isolated account maybe?) From 2024 if earned and banked whilst you were Thai Tax resident, yes taxable when remitted to Thailand. "2" No if not transferred to Thailand (but remains taxable at any time it is transferred, if you made the money whilst Thai tax resident Also unrealise gains not taxed).

Was the transfer account balance below the 45000baht ?

Pretty sure that your homeland allowances are not relevant at all in relation to Thai RD. Except in context to that they have reportadley said if your pensions are taxed in your home country, it's OK. Though the resultant overseas pension and tax could be affected by homeland allowances. But I would not initiate such a question to Thai RD, with any expectations. On the proportioning aspect, there was a link in another Thread, that suggested when the applicant, that wished a 'certificate of residence' at the Thai end for use to reclaim / get relief at home country end, they wanted a global income listing to ensure there was no doubling of allowances. But still absolutely only taxed on money remitted to Thailand. No worked examples, so unable to grasp anything of the computation in that example. All kinda circumstantial, and it was a very specific individual scenario noted.

Out of curiosity, Unknowns? Once you complete a successful Thai Tax tax filing, what do they then give you as proof of the outcome, is it like a UK P60 detail, Total income and tax deducted etc.? (and does it show the computation). Alternatively if they say you don't need to file, when you thought you did, if you deal with another officer, or office the following year, how would you field the question if ask why you did not file the previous year? If they then are of the opinion you should have.

Would page 20 Chapter V item 1 perhaps suggest it would be the same treatment? https://www.rd.go.th/fileadmin/download/nation/canada_e.pdf

It will be an interesting option to avoid those now working out their additional tax bill, if it surfaces....

That's about it, the primary target is the ones not paying tax any where, and the indigenous Thai supposed to be taxpayers compounding untaxed money's tax free., Then bringing it in Totally untaxed. Everyone else secondary and coincidental targets perhaps. Thai and expat. On money's remitted / brought in for condo and major purposes (your question to others), if the money was generated whilst the recipient was not tax resident it is remains not an issue? If you made the money over a number of years whilst being a Thai resident, then you are being treated equally as per Thai resident nationals, now under the Tax changes when remitting overseas funds. (Surely folks are not expecting superior treatment to Thai nationals in identical scenarios.) Quacks like a duck looks like a duck and the like. I think there is a perhaps a sympathy argument that there should be a period, for folks transitioning to stay full time in Thailand. Selling a personal residential property overseas (tax free in UK) moving the money over and though doing due diligence thought it was 183days rather than 180 for the tax residence, and similar, its an injustice! scenarios. The tax changes impact to me are principally the potential time and complexity, compared with bringing in last year's already taxed money, ensuring no admin or tax errors arose (under the old rule)

If you do not require any further documentation from Thai RD, to interact with another countries RD, perhaps some issues. To prevent double exclusion. The UK / Thai situation may not generate the a problem. Though not in detail technically correct , I will only intend to remit PAYE pretaxed pensions, to the exact net value one uk tax year in arrears, associated p60 etc available etc and hope that will suffice. E.g. 100% of pension 1, 100% of pension 2., 3 , 4. To value required to keep me whole. Otherwise very complicated....

I would speculate that;- https://assets.publishing.service.gov.uk/media/5a80bddc40f0b623026953eb/uk-thailand-dtc180281_-_in_force.pdf Uk Article 24 (others similar) (1) The nationals of a Contracting State shall not be subjected in the other Contracting State to any taxation or any requirement connected therewith which is other or more burdensome than the taxation and connected requirements to which nationals of that other State in the same circumstances are or may be subjected. *so =you get the Thai PA & deduction? no UK PA affect at the Thai end. (4) Nothing contained in this Article shall be construed as obliging either Contracting State to grant to individuals not resident in that State any of the personal allowances, reliefs and reductions for tax purposes which are granted to individuals so resident **You retain the UK PA, at the UK end, if;- https://assets.publishing.service.gov.uk/media/5b05425fed915d1317445ed2/DT_Digest_April_2018.pdf UK Personal Allowances for non-residents Some of the UK’s double taxation treaties provide for personal allowances to certain categories of individuals (for example, nationals of the other territory who are resident in that territory). In addition to the provisions of any double taxation treaty, if you are not resident in the UK you may use form R43 to claim the same UK tax allowances as a UK resident if, at any time in the tax year you meet any of the following conditions: a. You are a British citizen or a national of another member state of the European Economic Area (EEA). The EEA member states are: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and United Kingdom. b. You are resident in the Isle of Man or the Channel Islands. c. You have previously resided in the United Kingdom and are resident abroad for the sake of  your health, or  the health of a member of your family who is resident with you. d. You are or have been employed in the service of the British Crown. e. You are employed in the service of any territory under Her Majesty's protection. f. You are employed in the service of a missionary society. g. You are a widow, widower or surviving civil partner whose late husband, wife or civil partner was employed in the service of the British Crown. Hope that makes sense? Raises another Question So does the wife get the UK personal allowance, if I pop-my clogs and I have a civil service pension, from which she would receive a widows pension (g.). Time for an English breakfast tea,

a. If the funds were created (and subject to tax scrutiny overseas) when not Thai Tax Resident or the are excluded, probably will work splendidly. b. If from (overseas) funds created whilst Thai Tax resident and have not been considered against Thai tax, I don't see how it can work either (going forward).

Some thinking out loud... I expect no DTA effect at all. I would prioritise your tax residency status, of when the funds were placed into the ISA. I think I would try not to remit ISA proceeds to Thailand. and have now associated an ISA to a totally different bank, to which my pre-taxed pensions are paid to in the UK. I would expect the state pension to go where my ISA goes to if / when I eventually get it as not taxed at source. I think the only way to be reasonably safe, is to avoid any input to that ISA after 31st December of the year before you to become / became tax resident in Thailand, if an event does not decided your timing in lieu of any plan. Then at least that valuation point the capital value is excluded from Thai Tax, as created when not Thai Tax Resident. You still have an opportunity you start another ISA the April before the year you move to Thailand and can still deposit to that one in the UK tax year of the move. There may be multiple resident non- resident swings! (If it is a Stocks and Shares ISA it could be a churning of the funds whilst still UK Tax resident to give more recent base value points could be a goer, if you think you may later have to withdraw and remit to Thailand) A corporate action could initiate a disposal scenario within the tax free wrapper, and an associated gain. I would ignore events within the tax Free Wrapper in the UK, but dividends being paid out perhaps can't excepting they will be all trailed to UK expenditure, so not a remit to Thailand issue, unless a force Majeure arises. Unfortunately I understand the ISA wrapper will have zero recognition in Thailand. All phrased from my Non-Thai Tax resident current status view point! The UK is my centre of vital interest (DTA speak), having only one very special interest present in Thailand currently. Will wait and see for further info......

If the gift value was created whilst you were not Tax resident in Thailand, can't see them being an issue, but from now on, if you create the funds to be gifted overseas, whilst you are Thai Tax Resident, they may require to be considered as taxable before, the recipient receives them, as normal remittance to yourself. They could be funds from an inheritance, which would probably not flag an issue under 100 million baht. (with very accurate, and certified paperwork). Take this as a suspicion only, I cannot verify it currently, as my UK lottery ticket returns have been dire recently.🙂

And then there is a 5 / 10 % tax option if extra generous. Cash gifts into the UK don't seem to be a problem, only any interest generated is taxable, so should not be a problem?

I think the gain will be calculated purely at the date of the transaction. This also makes me wonder on the fx rate applied, and timing.

Yes it may /will affect some Thai retirement strategies. In a similar way to the UK, reducing the capital gains allowance from£12k to £3k this year, of finding my Tax free in UK ISA investments likely to be treated as normal dividends and gains under Thai Tax . Now their tax free overseas investment retirement supplement will potentially be clobered for Tax 25-30%, on total return. RD do seem to take a reasoned view with pensions , in that they are saying, that if taxed overseas, then not an issue apparently. (Differs from UK HMRC, for example who are still pursuing UK pensioners who have been scammed out of their pension, for a 55% tax charge on the money they no longer have. As it was an unauthorised transfer or withdrawal! Members of parliament are trying to get them reeled back in, but they have been attacking their own nationals like this for years, (similar thing with a company trainingg scheme recently.) I would expect them to have an undeclared internal threashold, on which they will preferentially pursue initially, to have resource Vs Tax yeild initially, on those aggressively using the previous rule and those avoiding OECD should be taxed somewhere theme. Thais may end up with more static overseas portfolios ( hope that plane manufacturer can get it's act together...)

I think it's around 28th June 2024, to be the earliest date you become Thai Tax resident this year, if you have not been out of Thailand, then new rules will start to be applied.

If you are not in Thailand more than a cumulative total of more than 179days in the calendar year (Thai tax year) no issues. Previously if you were a total of 180days cumulatively in Thailand, and became Thai tax resident, and principally had only income from overseas. It got taxable if brought in to Thailand in the same year. If brought in the following year, it was treated as savings. From 1st Jan 2024, if you earn or derive income overseas (or similar gains etc), whilst Thai Tax resident, it is taxable if you remit it to Thailand 'in that year', and/or remit it any time in the future. Thai Revenue taking more interest in overseas income, whilst you are resident in Thailand. Lots of detail posted in the guide on an associated thread!

IMHO Only* income brought to Thailand is Taxable. Generally Yes if it is Earned whilst you are a Thai tax Resident, and you bring it in to Thailand, 'in year' or at any time in the future. *(could be Gains taxed as income, dividends etc). Patrimony exsisten before End of December 2023 are considered Savings and when imported are exempted of taxes . Various suggest correct This is what I got to understand till today . Any one has a Worldwide Tazation information ? It is still remittance basis in most cases. a global declaration may arise in Dual taxation or when you need a Certificate of Residence from Thai RD, to present to an oversees tax authority but is still tax on remittance at the Thai end, on the examples I've seen. On the next bit, direct payments & cards I'll just comment... Please correct me if wrong ? You have some potential to discover you may not be correct. Except perhaps if what you pay for is purely out with Thailand.

For a slight overrun most likely, but with some doubt, unless they implement the Tax Clearance Certificate for individuals again, like they had in the early 90's(?) But probably very unlikely. could you imagine someone on an METV thats had one extension getting blocked at exit, unlikely hopefully.

From 2024 on, if your over 179days in the calendar year and become Thai Tax resident, then the starting position is your under the Thai tax. when ever you then bring gain into Thailand, which will be on Thai PIT rates. ( then of course all other considerations, DTA', it has been subject to tax etc) (I made sure when doing sizable transactions in 2018, that I was not Thai tax resident that year, to eliminate the doubt.) If you bring cash in and change it at the exchange booth, what do they do with the photcopy of your passport they take under a requirement of Bank of Thailand regulations?

Retiring at 55 he was going to have his pension benefits actuarial reduced at a flat rate of 5% per anum for every year prior to his normal retirement age of 60. I.e. 25%. So he did not retire for a further 2 years at age 57, where his reduction of retirement pension benefits would be 15%. On his occupational Defined Benefit Pension. (Not relevant to DC money purchase pensions, SIPPS etc) But they are getting the pension paid for three more years relative to the NRA.

If you have not declared your tax residency already to your debit card provider (bank), a non-tourist pattern of spending, in a particular country, may prompt them to ask for you to clarify. (Depending what jurisdiction your bank is located).

That's what Dad does, just has to watch for variance on the Dec/Jan Trip. Belt and braces as always from previous years money so far, and pre Jan 2024 funds ongoing, so absolutely no chance of liability to tax over there.

If you spend less than 180 days cumulatively in the calendar year your not tax resident in Thailand. Then years in to the future it would only be if your bringing in assessable income generated from a year you were over the 179 days in Thailand. (After 2023)

So it would probably be covered by the pre-2024 dis-regard, if you still have the paper work. (The interest on such savings has to be considered, if Thai Tax resident after Jan 2024, and later remitted to Thailand) Assuming the tax situation is probably as understood time now, if you asked the same question in 2034 it would depend on whether you were Thai tax resident when youn earned the income, if you were, it would be potentially taxable, if you brought it in to Thailand, at any time in the future. (read the English translations of RD 162/2566, see if it explains ) So from now on the interest on the savings will likely become Thai taxable as soon as you exceed the 179days in Thailand that year, whenever you bring it into Thailand from now on...