Yumthai

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.

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.

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?

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).

You've made your point long time ago, no need to keep discussing it as long as there is no factual event happening and probably won't.

What's the tax benefit to do this?

I'm not denying, just more concerned about what is probable rather than what is possible to occur. Also, constantly predicting the worst is going to happen is surely counterproductive. Have you heard about Manifesting and the law of attraction?

You keep repeating this in circle in every tax thread like a mantra. If you strive to be heard by TRD I'm not sure it's the most effective way to do.

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.

I'm well aware of what I need to know in Thailand, and anyway usually able to bargain this kind of unlikely event for way less money.

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.

A perfect illustration of the (in)famous Thai expression: "Farang fink too mut"

Sorry but I don't get it. He surely can do what you say but he can also sell during a tax resident year and remit tax free during a later non-resident year.

Even if that expat sells the offshore asset, realizes the gains, earns the income during a year he is Thai tax resident, if he remits this said income in a later year he's not (anymore) tax resident in Thailand, this remittance is not in any way (according to the current law) assessable in Thailand.

I disagree on "earned non-resident". All foreign sourced remittances are tax free while being non tax resident. There is no written law stating: Foreign sourced income remittances are assessable for non tax residents if the foreign income was earned while being tax resident in Thailand. Au contraire the tax law states: https://www.rd.go.th/english/6045.html 1.Taxable Person 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. I believe that, as long as this rule is not amended, it prevails.

Yes. I can't articulate it better.

That's the way to go for US nonresident alien investors. In a year being non tax resident in Thailand, not only you can sell and remit asset proceeds covering one or more years living expense, but also set in stone end-of-year offshore accounts cash balances for later tax free remittances. Depending on one's wealth this strategy could cover many tax exempted years.

Nobody knows, outcome is hit-and-miss with Thai institutions. But they will without doubt understand a bank statement balance.

If not been tax resident in 2024 then all offshore cash balances on 31/12/2024 became (tax exempted if later remitted) savings.

WISE is not a bank. https://wise.com/help/articles/2932693/how-is-wise-regulated-in-each-country-and-region Indeed. Wise Payments Limited is an Electronic Money Institution (EMI), i.e. a financial institution, required to follow the country laws where the account is held. It's regulated in several countries and regions including UK, US and the European Economic Area (EEA). https://wise.com/uk/help/articles/2932394/how-does-tax-work-with-my-wise-account "Wise is required to follow local tax laws in every country we operate in. That means in some countries we might be required to: - withhold on currency transfers, - give customers an invoice for their remittance, - report customer data to the local tax authorities Certain Wise entities must comply with the global anti-tax evasion regimes, FATCA and CRS, due to the type of products they offer. For example, our product, Assets, causes a subsidiary of Wise, Wise Assets UK Ltd., which provides the Assets product to fall within the scope of FATCA and CRS as a Custodial Institution. Customers that participate in Assets who are deemed to be reportable persons will be reported to HMRC in line with the Automatic Exchange of Information. Wise is working directly with the Electronic Money Association (EMA) and the Organisation for Economic Co-operation (OECD) to ensure our processes and products combat any tax evasion. As and when Wise is obligated to collect and report customer tax and financial information to tax authorities we will do so. In addition to tax requirements, other regulations may require Wise to collect certain data, like transactions over a certain threshold, and report it to regulatory bodies. Our Terms and Conditions of each entity provide more information about what we may need to report to different tax authorities." https://wise.com/help/articles/1yIMYUKchCnDYxP1pn5B5t/understanding-taxes-when-using-wise-interest-yield-or-stocks "As a regulated financial institution, we’ll only share your tax information with relevant government tax authorities if we need to. This is to comply with international tax standards like the Common Reporting Standard (CRS) or the Foreign Account Tax Compliance Act (FATCA). We might need to share information about where you're a tax resident, your gains and losses, and the amounts you hold in your Wise balances or Jars with Interest." https://wise.com/community/policypositions "We’ve also worked with the Organisation for Economic Co-operation and Development (OECD) as it seeks a global consensus on international taxation of the digital economy."

You're actually hiding your current tax residence(s) because this is what Wise is required to know to comply with OECD standards. But as long as they don't address you directly to update/confirm your residence I guess it's OK.

Considering there is no capital gains tax on Thai stocks/funds, isn't it more profitable, even computing the high Thai banks fees, to invest in Thai funds replicating US funds say S&P 500/Nasdaq-100 indexes? Besides, a confiscatory US estate tax shouldn't be triggered on the Schwab account holdings in case of death?

Can't wait to see that. The only few cases will be the scared sheep running to file putting themselves in the tax system with unstraightforward foreign income situation where TRD is not able to process the DTAs and other exemptions from the foreign supporting docs then will tax full remittances regardless.

That certainly should be an extraordinary number of people. (Un)surprisingly, it seems you are not very familiar with how Thailand works.

https://www.pwc.com/th/en/tax/assets/thai-tax/thai-tax-booklet-2024-25.pdf Under this instruction, A person who resides in Thailand at one or more times for an aggregate period of 180 days or more in any tax year and has assessable income due to work duties or activities performed abroad or assets that are located abroad according to Section 41 paragraph two of the Revenue Code in that tax year and has brought that assessable income into Thailand in any tax year, has a duty to include that assessable income in calculating income tax under Section 48 of the Revenue Code in the tax year in which the assessable income is brought into Thailand. This PWC statement refers to tax residents only.