Yumthai

I would not count on that. CRS requires financial institutions to identify customer tax residencies and report financial accounts held directly or indirectly by foreign tax residents to local tax authorities. How would a bank send information to a country they are not aware of?

CRS kicks in only with offshore accounts registered with Thai residence address.

Thai gift rules mention only the giftee as being the one responsible of the tax if any. To me the tax situation of the gifter is uncorrelated, however some members think the Thai tax resident gifter could be asked to provide evidence (if audited) to have paid tax prior gifting.

Flat rate 13% , from first cent earned. VAT 10% PIT 15% for income/capital gain > THB3M CT 15%

Wake up.

If you can document that the individual who receives the money in Thailand is the one who has inherited there is no issue where the money is put. Anyway, your mother (non tax resident in Thailand) can gift you up to THB20M/year tax-exempted in Thailand. No declaration either.

If you inherited prior 01/01/2024 then get and keep a personal bank statement showing the money on 31/12/2023. Tax-exempted anytime when remitted in Thailand. If you inherited after 31/12/2023 then keep all documents proving the inheritance to your name (certificate, receipt, tax/bank statements...). If ever audited by Thai Revenue Department you may need to provide Thai or English translations. Inheritance is tax-exempted and not to be declared up to THB100M.

If their goal is to close all the tax loopholes then this remittance tax is not the right instrument as there are too many legal possible workarounds to avoid tax. Worldwide income tax implementation is the only way.

No, I think that Thais in a whole bring in more money from abroad than foreigners.

Oh really? We don't have numbers but I suspect that all the money received by Thai people in Thailand from their own offshore accounts/relatives/friends/sponsors/... outweighs foreigners money.

Deleted.

Nothing worse than what will happen to the 1,000,000s of Thai people who don't file either.

... only if they stay less than 180 days a year.

I don't believe Thailand is willing to reach that level of Chinese/North Korean control over their population, but if they eventually start strictly enforcing rules restraining privacy and freedom I will limit my stay in Thailand at 179 days/year.

So, TRD will coordinate with Immigration to implement a way to control systematically/yearly the tax situation of every single foreigner residing in Thailand meanwhile millions of Thais will continue "doing nothing" remaining unchecked? Unreal.

At this point that's by far the smartest move.

https://www.rd.go.th/43338-1/clear-cut-ภาษีการรับให้-gift-tax-ใครต้องเสียภาษี.html This is a 2023 Q&A in Thai from TRD related to Gift Tax. What we learn among other things (Google Translate): - Receiving tax Or commonly called Gift Tax, is a personal income tax collected from assets given or received to children, spouses, relatives, or other persons before the gifter's death. The gift tax was created to be consistent with the inheritance tax, preventing inheritance tax evasion. - The giftee is the sole responsible of the income/gift tax payment. No mention of the gifter. - Parents mean father, mother, grandparents, great-grandparents. - Descendants mean children (including adopted children/illegitimate children certified by the father), grandchildren, great-grandchildren.

Long-term residents who assess there is a non-zero probability of tax audit/enforcement and need certainty should, in coherence, consider quitting Thailand tax residence status asap. Why? Because the huge majority of non-working foreign residents in Thailand has never paid tax for decades on their foreign-sourced remittances (based on the old remittance rule that was not strictly followed and this income potentially not fully exempted) and they are now living with the Sword of Damocles hanging over their head, which could harshly fall with up to 10 years retroactive fines & penalties at any random audit. Do I believe this will happen? Not.

"... it all focuses on Tax status when the income was earned" simply because in the new tax rule announcement it's implied and granted that the only people impacted are Thai tax residents. Since non tax residents are only taxed on their Thai-sourced income wherever it is earned/paid, remittance event is irrelevant (because you'll have to declare and pay income tax even if this income is not remitted in Thailand). Hence, non tax residents in Thailand are never impacted by the remittance tax rule.

Indeed Thai income tax is not a subject for Thais.

There could be (income) tax on the money and/or the gifting act itself depending on the country tax law where the gift occurs and the tax residence status of the gifter, but imo not in Thailand.

We can agree to disagree. My view is the location of the gift and the way of transfer does not matter. The act of gifting occurs prior wire transfer/remittance.

That makes me wonder what the real intention of the Thai government is. If they really want money in, they should better put their efforts on tax law enforcement rather than constantly updating and implementing countless rules.

You go to your home country with your wife, withdraw $5K in cash from your local bank account and gift it to your wife. Then you both fly back to Thailand. Who is remitting $5K into Thailand? Your wife and it's a gift exempted from tax.

That is the only point to discuss: what happens first? Gift or Remittance? I agree with you, imo gift rules prevail over remittance rules i.e. gift event occurs first then remittance event if any. For instance, a Thai tax resident has $1K cash in his home country that he gifts his Thai tax resident wife on 01/05/2024. He can state it in a nice letter/email as proof. From 01/05/2024 gift is acted and this money belongs to his wife wherever it is. There are many ways her $1K cash gift can be repatriated to Thailand (she could fly to pick it up, ask a third-party to bring it back, use online transfer, ...) but in any case the remittance event (tax exempted as it's a gift) will always occur for the giftee (wife) not the gifter. That's my view.