jmd8800

I've had two quotes and my tax forms are simple. Both include obtaining a Tax ID. 13,800 and 15,000.

Thanks... I hadn't thought of that.

Thanks for the info. @oldcpu and @OJAS

Here we are coming up on tax filing season. Has anyone found a reasonable way to get a Tax ID and then file without having to go through the numerous expat filing agencies charging a premium price? I had though about printing every possible paper I can think of they might want and traveling to my local TRD office and say: "Ok I'm ready to file." and see what happens.

Thanks for the info.

This is what I thought of doing as well. Show up in the first weeks in January with a statement from Bangkok Bank showing my 2024 transfers in Thailand. That is the easy part, I think. The hard part, unless Thailand is using an honor system, is showing how much my USA Social Security pension is, as that portion of my income is not assessable. Is this the total amount before Medicare deductions or just the amount deposited into my bank account? So I'll take my annual SS letter with me. My transfers are over this SS amount but less than the total SS exemption amount plus the standard Thai income tax deductions. So I should not owe any tax. I pay taxes on all of my income in the USA and my income is only SS and private pensions. No investment income. My accountant in the USA says any tax I pay to Thailand is deductible from US taxes.

Is there a chart somewhere that describes all possible TEDA that I can read and show to others who ask?

There is no formal system in Thai law to accommodate asylum seekers.

Thanks again.

Thanks for your response. My SS is well over the $1200 you mentioned but also my transfers have been over 65,000 baht per month. But, I think the numbers will just scale out OK. I'll simply transfer just a little bit over 65k for the rest of the year and hope for the best. I am over 65. I think I'll be fine.

Thanks for all the responses. I'm waiting for some tax guidance from the USA accountant that files my taxes each year. Depending on what he says, and what the Thai gov't actually does, I'll make my decisions. I'm guessing I'll pay very little tax here and deduct that tax from the taxes paid in USA so it will likely be a wash. I guess I won't be buying any new cars for a while.

This was excellent reading. Everything is much clearer now. Thanks a lot.

P.S. I know this is Thailand and often times laws are merely suggestions, and everything is OK until it isn't, etc, but If I opened a second bank account in the USA to deliberately NOT show income to the taxing state (IRS in this case) I would be committing tax evasion. This may be why Thailand talks about 'worldwide income' and such, I don't know. But it is going to be very hard to prove legitimate taxable income on foreign people and Thais alike unless they implement a system like the USA has where money connected to a specific person is tracked in its entirety. I think this is a daunting task for the Thai government to do.

Thanks for the response. I'll wait and see what happens. I don't mind paying a little tax as I live here, but I'm certainly considering becoming a not-tax resident next year if the tax levied is high. In my world life here after COVID has changed and over the last 2 years or so Thailand is losing its luster so maybe it is time to go.

I'll stick with Miguel's