UKresonant

So the answer may be ; Yes it has been taxed at 20% and the retirement Extension costs >81250 THB/ month gross of income + transfer fees, for their selected countries, that cannot get an Embassy income letter since 2018ish! So if it has not been taxed 65000 remitted - tax over 65 ~8000 = 57000 net to live on? What kinda proof?

That would be a good clarification for Thai RD to put out even if they said below 2 million THB pension or similar. It would perhaps save them a lot of non-yielding, can't see the wood for the trees effort. Then not inflicting much stress and anxiety on many. Also void potential cutbacks of inward remittance from sources they imply are not their intended targets anyway. Would be better than the DTA don't worry generalisation possibly

That's the way I would anticipate it to be for 2024 income, reportable 1st Jan - 31st March 2025. (Not very functional until they provide a facility to at the same time, list the claimed credit relief, (rather than Just writing a letter to them). Though I am just watching from the side lines . E.g. 100% of each selected taxed pension remitted to Thailand, with it's corresponding credit relief value, gross pension, paid net of tax to bank, should all add up fine. No extra tax on DTA only in home country entries, perhaps a little on other entries. Can see that seems do- able. Though I cannot see how in any practicality, if bringing in home savings (post 2023) to Thailand, in say 2028 if tax resident, that when they say that they need proof that it had been taxed previously, that it could be presented in the same way or detail. Only in general that the savings pots were created from taxed income, but multi years, multi pre-taxed sources. So cannot see do-able, only if non-tax resident. Overseas home country financials are not likely to be designed (say 9 years before) record wise, in anticipation of Thai RD expectation perhaps.

Cross reference with Immigration database, passport as primary key.

Yes, generally agree, but in my case the flight and car etc are maintained anyway, that's why if they moved from remittance to Global later (as a news article suggested) , it would significantly not work well for myself as they would potentially want tax in Thailand, on UK tax exempt income, which would only be getting expended in the UK! The reverse of the problem the wife would have relative to the UK.

I'm hoping that is how it works in practice, and generally that's what they announced, when they said if you have a DTA it should not be a worry (or something like that. (Theme was that probably most posting here were not their targets) For mere mortals the important compliance is that you have shown you have been taxed somewhere, declared it and Thai RD are maybe due a wee bit of revenue? If in practice they end up doing a jobsworth analysis to the last satang, on a potential 20k baht liability, the negative incentive for people to not be here, for 6 month periods, or never coming to be tax resident where they previously had a desire to do so, would potentially provide an offset, though unmeasurable, by the loss of VAT and spend into the economy. Still hoping Thailand does not aspire to copy in detail the bad practices of other countries.

Reading it again that could mean your taxed where ever you are resident e.g. Tax free in NZ, taxable in Thailand. (If only it said citizen, rather than resident) Hopefully someone from NZ will comment, that is more familiar with your kind of scheme. [It may be the same problem that I would have with UK ISA's as part of retirement income stream, the dividends or gains are no tax in the UK, but Thailand may treat the income as normal dividends and tax them. It gets even more complicated as some people have a regular monthly withdrawal amount, as part of their retirement stream, which could be a random mix of from fractional gains losses and dividends and interest, impossible to define on a return]

Shouldn't be a problem dad does 3 x 59 Day trips equally spaced trips per 12 months, and has been for years, now tourist visas, was non-O ME before that and tourist visas before that (when you could get a few tourist ones at same application). (I'm thinking anyone totalling more than 179 days cumulatively in a calendar your could get in and potentially then get a problem going out in future )

I have to admit I thought it was combined income / savings of husband and wife. So they would ignore her income (when pension equiv.) and savings. Very Angry now! (up from just Angry, that it is excessive over indexation and Local Average earnings) Even though it's unlikely that I could convince her she should come to the UK for a full year (especially with the probably hostile tax environment). So hypothetically she would have to SWIFT me the difference, savings/2.5, six months in advance to meet the criteria, (but then they would probably want to tax it).

Article 19 Pensions 1.Pensions (including government pensions) and annuities paid to a resident of a Contracting State shall be taxable only in that State. https://www.legislation.govt.nz/regulation/public/1998/0424/latest/whole.html#DLM267900 Looks like quite good words to say only in NZ? If your sure the scheme falls under that article.

Yes, I'm looking at the subject, anticipating the difference from being 179 days or under in Thailand, or, as "b." tax resident in both countries, as most likely I shall always be over 92 days in the UK (there is still a couple of clauses I need to check again), so will not detach from UK tax liability. It is just a tipping point that could become a disincentive to be in Thailand for the naturally desired amount of time. It is still much less of a tipping point than if the wife were to go over 182 days in the UK, facing what I find to be a very arrogant taxation system when looking from the other direction. (weather condition considerations would cut in, before the tax consideration perhaps ).

Depends how much was left in them, if there was not more than 2000 baht + any annual debit card fees (until the year the card expired) they will surely be toast, as after 1 year and less than 2k baht balance, they take 50baht/m off until closure. If you had say 5k in, may just be marked as inactive (can't find their timescales) . Would have been worth putting a thousand or two baht over using one of the free-ish fx companies to keep them alive every year or 18 months.

Yes, incorrect values, perhaps dependant on particular RD officer, implicitly correct values as far as person filing is concerned, possible translation of documents legalisation (less practical if up country). Home country deducts all my tax, they can "see everything" on their screen (purposely arranged to be that way). Then to go from that, to this potential can of worms. If it is as simple as throwing all pre-taxed pensions into home country account, only remit the net income from that to a Thailand account, declare it, take the tax paid off as as credit relief (when they issue a form), pay the few 10s of thousand of baht extra to Thai RD. If it is so much more complex than that, or they go global, it is perhaps just not interesting any more . Not sà-nùk complexity, hurdles, administrative stress (increasing volatility) / Lovely country, good facilities, food and climate (stable with some incremental progress) The ratio has changed a lot since 2017 I think! Just will re-arrange some things UK end and hope for a simple outcome.

That's the over 179 days and you get salt in the coffee version. Not so much of an incentive to exceed the threshold, if you are not permanently there anyway. The tax system would become even more arrogant than my home countries system, as positive circumstance of being (tax) resident is perhaps substantially less. Except the temperature perhaps Final version anticipated, but when will they get round to it, is anybodys guess.

Only above a certain threshold, or if you become a focus of attention I think. If you do not have obvious method of legitimate funds and they start digging. How would they even know if the person was a Tax Resident. That data load would be substantial! Yes your non resident visitor could be withdrawing the money from the ATM.. When you exchange money at a booth they take a copy of your passport as required by the Bank of Thailand regs. So in theory they could have the data field with your passport number, but don't know what level the company needs to report at, I would be thinking not at that detailed level currently? You have to fill one out over a certain threshold, as it has always been in recent years, If you have obvious substantial amounts to report maybe better doing one for your own piece of mind (or keep the records of zero tax liability) They want to discuss and assess your Tax return that was your duty to file . Recent unquote-able article suggested not to all dash down the RD office. seems they may make things clearer, and they will be generally be after big fish. Think they are more likely to detect unexplained wealth, like HiSo spending level with nothing plausible declared, like if it all was drawn on ATM cards. Or if that Thai official cannot explain their new Porsche purchase.

You may of seen the hundreds of posts on the TAX changes effective 1 Jan 2024. Everyone hopes for confirmation of how things will work in practice going forward. Maybe it would be useful if you put some pre-2024 savings in a isolated account with the interest mandated elsewhere, and keep the records that it was created with pre-2023 taxed in UK source, or distinctly and separate from any inheritance source. for later transmission to Thailand. All I'm doing in the UK side is to split A. All my pretaxed at source UK pension income, in to one bank, and one account. (government pensions clearly only taxed in UK initially) b. All my ISA dividends (no tax deducted), and State pension, later, when they cough up (which is not not directly taxed) into another Bank and account. But each to their own circumstances, I'm just lucky I have multi sources I can split up. Might or might not make paperwork easier if you keep the paper trail, later. Just transferring 480k baht a year not going to be a tax worry anyway I would imagine. All above totally speculative! (we'll not be be back except for holidays for a few years anyway) Irrelevant for immigration purposes, I think legitimate source is more what they seem to be after in the Marriage visa context. (though perhaps pension ideal??)

I used Halifax (Lloyds. BOS) for SWIFT Transfers and still use sometimes) in GBP directly into a GBP FCD at Krungsri worked well (2018/2019) for my practice monthly >40k THB practice (but never got to actually doing an extension as on a Non-O Multi) £9.50 SWIFT fee and Krungsri (0.25% deposit fee min 500baht, min balance >$1000 equiv. Could run a year of Transactions in minutes. Showed clearly as FTT on print and statement which is the important bit (No Bank Book with that account). If you are opening a THB (/ FCD) Account in Bangkok, Bangkok Bank Head office is good place for application as they are familiar with foreign applicants. (get off at Chong Nongsi BTS station, and walk back round the corner to their substantial and impressive head office building, left side door, take a ticket number, sofa waiting area about 40m towards the back, not quick may have to wait a couple of hours depending when you get there. )

Yes single entry non-O Thai wife, that was confirmed to me as >£1000 by the RTE London in May 2023 (it was £10k for the multi, which is no longer being issued from London, again. Hope it will return) Postal statement is best. Confirmation email from your wife inviting / aware of your visit. Accommodation booking for the first couple of nights. etc got one in June for The son and I visiting Mummy during the UK school Holidays

I thought you could use overseas cards to pay for the likes of buying Airlines tickets say from a non Thailand based source as the service and purchase are external Other service and purchases in Thailand perhaps a bit of a grey area. "spending into Thailand" on the Video below But Cash advances of scale ATM / in branch would be (not thinking of the sporadic occasional, 10000 baht cash advance if the Thai ATM card was at room). That was also my view when I looked at it 5 years ago, under prevailing current rules (16 days to go) it would be far easier proving that funds SWIFTed in were savings, from the point of view then. youtube (1 year ago), see time 07:00, for "spending in to Thailand"

I was just thinking that observing the 179 days or less for Tax purposes, would perhaps coincidentally nullify any Thai issued Health Insurance policy? Though the last time I went shopping after such a policy, 2018/2019, I was told by one of the major providers that since I could not be sure that I would be in Thailand more than 6months of 12month in any given period, the policy would not be appropriate to be sold to me, as it may not provide cover. Thought it would be a sensible addition to my 92 days per trip travel insurance that I had, after watching a Q&A session on youtube with one of the major providers in the Thai market. Don't know if anything has change on that front?

So does that imply that they are going to allow tax credits against, for example, personal pension income and perhaps just have to add a form and procedure to to show such? T.B.A.?

Excluded for requirement if not exceeding 90days

Nice trip to Khao Yai?

Yes I object as well as I can no longer meet the threshold, in the short term from passive income. My assumption was it would be indexed at somepoint. It's loss of face, I cannot meet the level set now by my country, partly due to the needs of my son who is with me in the UK. I'm the poor UK element of the family as portrait by my own government. Westminster politicians are so engrossed in there political hobby, no thought of common good, negative policies such as frozen pensions if in Thailand, and "well get rid of non-dom status" from the already very arrogant tax system. It's like when you go somewhere and there is very bad service experience, and think do these people never think of adopting better practice and ideas offered by others. Rather than, negative, inefficient, inward looking, in political circles theme, which more and more people do not feel any strong association with. Perhaps the Thai embassy shall request a bank statement showing 1.7 million Baht on e-visa from the spring of 2024?

That's about it Some waffle......TOL. . whilst watching YouTube... 180 days or more, not more than 179 days. Not sure if counted as being present at the end of the day or. like Thai immigration present even a second of a day. ( Not sure that is pinned down yet) I think you can always bring in at least 60k THB without the need for Tax return Can bring in pre 2024 savings if you isolate it before 31st Dec with clear trail and no interest added to that account. Yes New form needed! TBD (Can't see how to do a return for in year pretaxed in the UK at the moment as the money arriving in the bank in Thailand is already net of tax. I Think Thai RD generalised if DTA in place, should not be a problem. Hope so.) (If UK DTA use the treaty wording, in preference to the info notes on the digest of tax treaties) p.s. I'm always assuming I will be tax resident in the UK, and possible I could be Tax resident in Thailand concurrently later, and re-arranging my money filing system in anticipation. If they go global later it could be 179 hard ceiling every year. Watching at a distance with popcorn . added;- yeah as Mike T comment above, not monitor, it is a trust based system to do a return. Perhaps just would be a lingering worry latter if they do some sort of cross check in future years and are asked why no return. Need to to file with yourself the details, so available I think the are are after big and medium fish suppers though