
Yumthai
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Thailand May Ease Overseas Income Tax Rules Amid Global Changes
Yumthai replied to webfact's topic in Thailand News
If you're implying they will connect long term visas issuance to tax, that won't happen. They're already back-warding on their tax remittance rules because they want money flow into Thailand. Making visas issuance difficult will just make money flow out. -
Thailand May Ease Overseas Income Tax Rules Amid Global Changes
Yumthai replied to webfact's topic in Thailand News
I think they know they can't reach the wealthy, like everywhere they are counting on the worried/powerless middle-class to do the job. But of course saying that is not politically correct. -
Thailand May Ease Overseas Income Tax Rules Amid Global Changes
Yumthai replied to webfact's topic in Thailand News
Come on, even the most tax aggressive countries can't make their fat cats pay their fair share. -
“Currently, investment within Thailand is declining,” Pichai stated. “While those with income to spare are investing overseas, the amount they’re bringing back is less than the amount they’re investing. We want to rectify this and incentivise them to bring their money back home.” Translation: We've just figured out that willing to tax foreign remittances encourages Thai residents to keep their investment gains abroad. Amazing!
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You quoted rightly The resident tax payer. In where does this statement mention or concern non tax residents? You're interpreting, as some others, that statement applies regardless of the tax residence status in the later years. But why? It is always mentioned "tax resident" or "resident (meaning tax resident)" in any official written statement I can find. I'm no lawyer but, until amended, the tax law still says: "Taxpayers are classified into “resident” and “non-resident”. “Resident” means any person residing in Thailand for a period or periods aggregating more than 180 days in any tax (calendar) year. A resident of Thailand is liable to pay tax on income from sources in Thailand as well as on the portion of income from foreign sources that is brought into Thailand. A non-resident is, however, subject to tax only on income from sources in Thailand." https://www.rd.go.th/english/6045.html
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As no more than "tourists" on yearly extension with limited rights and extra duties, we contribute 7% VAT on all our spending. Fair and enough. For high spenders (in Thai standards) this is, in absolute, a substantial amount of money than the vast majority of locals would ever contribute in their life into the system. As a foreigner, paying taxes on local income: Yes, on foreign income: No thank you.
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Nightmare at the Prachuap tax office
Yumthai replied to thesetat's topic in Jobs, Economy, Banking, Business, Investments
After many years spent in Thailand your resilience and willing to try getting these kind of confirmations over and over again force admiration. -
Thailand Rolls Out Free Condoms to Teens for Safe Valentine’s
Yumthai replied to snoop1130's topic in Thailand News
A good move to increase further the Thai birth rate decline. -
Taxfree gift to spouse
Yumthai replied to Lamphen's topic in Jobs, Economy, Banking, Business, Investments
The legal advice opinion given on a specific day at a particular office from a certain tax official is as sustainable as the fly life expectancy on a spider web. -
You're playing small. You're already rogue with Immigration. Voluntarily willing to get, shadily, in the tax system whereas nobody came knocking your door is the mistake that may eventually come back and bite you in the *ss. If you really need that tax certificate "insurance" just wait getting the official information a tax paper is required and enforced by Immigration or any other institution, then you can use your agent. You do you.
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KBank blocked WISE
Yumthai replied to Freddy42OZ's topic in Jobs, Economy, Banking, Business, Investments
More and more country and global regulations pressure banks and financial institutions. Globalist/socialist states strive to gather the maximum of data especially financial assets from individuals in order to control and keep milking them efficiently.- 32 replies
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Probably nothing and you should know better as you are a perfect example: you've paid for years to illegally get a stamp in your passport allowing you to stay in Thailand. This is surely much riskier than dodging TRD because Thai Immigration rules are rather efficiently enforced. Has something happened to you? Nope.
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The law also states you can't drive on the sidewalk and so on... there's an endless list. You can speculate Thailand will, soon or later, enforce their laws, stop offering "facilitating" services, and worry about it. By repeating it non-stop you make some confused minds start worrying unnecessarily about it as well... does that make you feel better?
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Well, I don't see any positive outcome here except more admin burden and potential tax to pay, and that's not really a benefit. I mean if TRD, during an audit, can't come up with your foreign credit cards statement asking to justify it, then it just does not exist (as the millions baht in cash/gold/jewelry under your mattress).
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If you're (unlikely, especially as a non tax resident) audited, TRD will disregard foreign sourced income remittances occurred during all back years you were not tax resident in Thailand, focusing only on local Thai income if any. Why? Because this is what the written law still says. For anyone walking in a TRD office asking to file a tax return/get a TIN, what are the first and foremost questions the official asks? "Do you live/reside in Thailand?" (implying: Are you a tax resident?), and "Do you work in Thailand?" (implying: Do you have local income?) Then, non tax residents (often dismissed) and tax residents will be treated differently.
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There is no law backing what you mention. There is nowhere in the Mazars link mentioning non tax residents, it is always question of taxpayers i.e. tax residents. You will note that in the example Mr. A is always tax resident including in 2026, it would have been mentioned if otherwise. Third-parties stating: "If you realise any asset during a resident year then they will tax it on remittance in any future year when it is remitted, regardless of whether you're resident or not during the year of remittance." is nothing less than their opinion/interpretation. Again, to me, the current rule "A non-resident is, however, subject to tax only on income from sources in Thailand." prevails in any case until a potential amendment.