No, that is not how it works in all cases. It really depends on the wording of the Double Tax Agreement with one's source income country. For some countries, the Double Tax Agreement clearly states Thailand can not tax certain income from foreign countries - even if the money is remitted to Thailand. For example, in the case of Canada, only Canada can tax Canadian Old Age Security, only Canada can tax payment from Canadian Pension Plan (retirement income to retired Canadians) and only Canada can tax similar Canadian retirement remunerations (such as payments from Canadian Registered Retirement Savings Plans (RRSPs) or Canadian Registered Retirement Income Funds (RRIFs)). Hence such is not considered by Thailand as assessable income (if remitted to Thailand) even if one is a Thailand tax resident, and such does not go on a Thailand tax form, nor is such to be included in the calculation to determine if one has sufficient Thai income plus remitted foreign income to meet the Thailand tax filing threshold. There are NO tax credits involved in this case. NONE. Absolutely None. However, the DTA for other countries definitely have different wording and many are different and tax credits (such as you note) could come in to play. Further, if one can prove the foreign income they remit to Thailand, from ANY country, is confirmed cash savings from before 1-January-2024, then such is considered savings when remitted to Thailand, and it is not taxable by Thailand per Thailand Ministerial directives PAW.161/162. Such remittance is not considered assessable income nor is such to be included in the calculation to determine if one has sufficient Thai income plus remitted foreign income to meet the Thailand tax filing threshold. Again, there are no tax credits there. Also, consider Thailand bank interest. if one (for reasons that I will not speculate) one has a lot of money in a Thai bank or Thai bonds (at a low interest rate) which has the 15% Thai withholding tax withdrawn, then one need NOT include that in a Thai tax return, nor is such to be included in the calculation to determine if one has sufficient Thai income plus remitted foreign income to meet the Thailand tax filing threshold. This is per Thailand tax law. (it only need be on one's Thai tax return IF one tries to get the withholding tax back). Again, there are no tax credits there. I can't speak for the UK, but i suspect there is a separate thread on the UK. Its very helpful thou, if one is asking questions about their own tax situation, they make it clear immediately up front in one's post, what the source country is for one's remitted income to Thailand . Else one has to read the entire post, only to find out in last sentence the country being queried is not relevant to one's knowledge. Also the LTR visa (for WGC/WP LTR visa holders) come into play, which is an additional complication. Anyway, ... Best wishes in your deliberations.
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