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Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part I


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Posted
34 minutes ago, ukrules said:

 

In addition to this, you might be living in Thailand remitting millions of Baht every month between Jan 1 and June 20th when you leave and don't return until Jan 3 the following year - making you a non tax resident for the year in question rendering all those millions and anything else you decide to send during the rest of the year non taxable regardless of where it comes from and its tax status.

 

This is why it will never happen as residency isn't decided until the 181st day of the yeat and us foreigners can be highly mobile.

 

 

 

Solely to play devils advocate  for a moment, banks with hold tax on savings at source from Day 1, the assumption being that tax is due unless it is reclaimed via a tax return. It is however a stretch of the imagination to think banks might with hold tax on all inbound transfers, for the reasons you have stated and more.

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Posted (edited)
1 hour ago, ukrules said:

 

Indeed - it's complete nonsense and will never happen, ever.

 

*Something* will happen.

 

My guess is that the new regulations will be used for egrigious cases - when tens of millions are transferred into Thailand.

 

Conversely, the RD is not going to monitor ATM transactions using foreign bank cards.

Edited by Danderman123
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Posted
31 minutes ago, Danderman123 said:

*Something* will happen.

 

My guess is that the new regulations will be used for egrigious cases - when tens of millions are transferred into Thailand.

 

Conversely, the RD is not going to monitor ATM transactions using foreign bank cards.

I can easily imagine banks and visa/mastercard networks being required to provide some form of reporting, they already do this for BOT and foreign currency exchange reporting. Perhaps something like the old US 10k rule whereby cumulative transactions over 10k per X, had to be reported.

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Posted
17 minutes ago, The Cyclist said:

A couple of pictures for the doomers & gloomers,  who like to whinge and moan about potentially paying some tax in Thailand because Thailand gives them nothing.

 

Relaxing after a very nice Boxing day lunch.

 

Free entrance to the park and lunch for 3 came in about 1000 baht

 

IMG_2478.thumb.jpeg.8a7530651335842ba9eb5ff57c66cb8d.jpeg

 

Last nights entertainment.

 

Free parking / Frre entrance / free concert. Food and drink bill for 4 adults and 3 children came in at 2000 baht.

 

IMG_2502.thumb.jpeg.7a0dbf2b313fe8b6cb0d07f793fbc86b.jpeg

 

Thailand offers plenty, often at no cost if you can make the effort to find it.

 

One reason that I wont complain ( too much )  if I have to pay a little bit of tax.

 

Where was the concert? morlam cing band from Sakhon Nakon. We go to free concerts all the time, when you do have to pay it's 140-200 baht for top stars

Posted
On 12/28/2023 at 6:19 PM, DonniePeverley said:

I think some of us are in major denial here.

 

From my experience in India, they will hit you at the source of the banks. 

You. Are delusional that would require new laws to be made unenforceable and would be frowned upon globally! Thailand would be a laughing stock and pray tell me any countries in th world that taxes money at source 

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Posted
13 minutes ago, proton said:

 

Where was the concert? morlam cing band from Sakhon Nakon. We go to free concerts all the time, when you do have to pay it's 140-200 baht for top stars

 

Khao Yai.

 

4 day event, ( all free ) we will go back tomorrow night.

 

Loads of free stuff, including concerts, going on every month. All it takes is a bit of looking.

Posted (edited)
6 minutes ago, bugger bognor said:

You. Are delusional that would require new laws to be made unenforceable and would be frowned upon globally! Thailand would be a laughing stock and pray tell me any countries in th world that taxes money at source 

Myanmar

 

India, depending on the source country.

 

The bigger questions is, which countries are considering taxing outbound remittances.

Edited by Mike Lister
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Posted
7 minutes ago, bugger bognor said:

You. Are delusional that would require new laws to be made unenforceable and would be frowned upon globally! Thailand would be a laughing stock and pray tell me any countries in th world that taxes money at source 

 

 

What the hell are you talking about?

 

Virtually every major economy does this. 

Posted
8 minutes ago, The Cyclist said:

 

Khao Yai.

 

4 day event, ( all free ) we will go back tomorrow night.

 

Loads of free stuff, including concerts, going on every month. All it takes is a bit of looking.

 

Never have to look, been to over 1200 concerts here, sometimes difficult to choose which event to go to.

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Posted (edited)
10 minutes ago, proton said:

 

Never have to look, been to over 1200 concerts here, sometimes difficult to choose which event to go to.

A slight exaggeration methinks.  Whats the real figure.

 

At one concert a month that's a 100 years.

Or at a concert every weekend that's still 25 years.

Or at a concert every day, that's still over 3 years

 

 

Edited by couchpotato
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Posted
8 minutes ago, couchpotato said:

A slight exaggeration methinks.  Whats the real figure.

 

At one concert a month that's a 100 years.

Or at a concert every weekend that's still 25 years.

Or at a concert every day, that's still over 3 years

 

 

Proton's no spring chicken you know.

Posted
18 hours ago, K2938 said:

Based on our discussion I have today contacted some Indonesian firm providing immigration and tax advice.  They confirmed that if a retired person is in Indonesia more than 183 days, he or she is taxable on global income.  Without any caveats, without any exceptions.  Sorry.  So if you find some more evidence supporting what you say, then please let me know. But - unfortunately - I do not think it is true. 

Yes - that is the rules and yes a tax consultant will tell you that you must lodge a tax return (with them).

Until this current rule change, in Thailand the same thing applied, but retired Expats we excepted.

How to Retire in Indonesia - SmartAsset | SmartAsset

Indonesia are currently in the processes of making that standard approach (not taxing retired Expats) official - as per those links I sent.

But yes, right now 'technically' the rules are not that - just the precedent - so I guess you are right 'technically' and I am wrong.

 

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Posted
17 hours ago, UKresonant said:

 

That would be the theme I would be feeling, not even a pass to avoid multiple entry fees at various venues, national parks and maybe even some health facilities. The ticket vendors may say that I'm still just on a slightly extended visitors visa, for which I couldn't really dispute that aspect I suppose :smile: .

Ever since I first visited Thailand in 2010 there has been many Govt people say that they will address this inequity bla bla bla - the latest one being a bloke at TAT.  Nothing ever happens because the entire Thai bureaucracy has the 'Picard Syndrome'. They all think that by saying the matter is going to be fixed (make it so) the problem has been fixed.  There are far too many Generals and Chiefs in Thailand who talk about it, but no where near enough people who actually get things done. Richard Barrow actually lists them all - he has been campaigning agianst this for years.

Home | 2PriceThailand

 

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Posted
12 minutes ago, couchpotato said:

A slight exaggeration methinks.  Whats the real figure.

 

At one concert a month that's a 100 years.

Or at a concert every weekend that's still 25 years.

Or at a concert every day, that's still over 3 years

 

 

 

The big mountain music festival is a 2 day event that probably has about 50, perhaps more, different concerts, if you class separate artists / groups as individual concerts

 

 

Posted
2 minutes ago, The Cyclist said:

 

The big mountain music festival is a 2 day event that probably has about 50, perhaps more, different concerts, if you class separate artists / groups as individual concerts

 

 

Sorry dear..a Concert is an event with one or more individual artists, bands, groups etc.

So a 2 day event with 50 acts/performances is a Concert.

 

I am sure many posters would be 'in concert' with this.

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Posted
32 minutes ago, couchpotato said:

Sorry dear..a Concert is an event with one or more individual artists, bands, groups etc.

 

 

Nice semantics

 

A concert is generally classed as a performance by an individual / group.

 

A raft of concerts, by individuals / groups, brought together under one banner, is usually classed as an event or a festival.

 

38 minutes ago, couchpotato said:

So a 2 day event with 50 acts/performances is a Concert.

 

 

Concert or a Festival ?

 

Big Mountain Music Festival 2023 ครั้งที่ 13 ราคาบัตรเท่าไหร่

 

Festival not concert.

 

Sorry dear :biggrin::biggrin:


 

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Posted
2 hours ago, The Cyclist said:

A couple of pictures for the doomers & gloomers,  who like to whinge and moan about potentially paying some tax in Thailand because Thailand gives them nothing.

 

Relaxing after a very nice Boxing day lunch.

 

Free entrance to the park and lunch for 3 came in about 1000 baht

 

IMG_2478.thumb.jpeg.8a7530651335842ba9eb5ff57c66cb8d.jpeg

 

Last nights entertainment.

 

Free parking / Frre entrance / free concert. Food and drink bill for 4 adults and 3 children came in at 2000 baht.

 

IMG_2502.thumb.jpeg.7a0dbf2b313fe8b6cb0d07f793fbc86b.jpeg

 

Thailand offers plenty, often at no cost if you can make the effort to find it.

 

One reason that I wont complain ( too much )  if I have to pay a little bit of tax.

Great!

Posted
7 minutes ago, Danderman123 said:

Okay, this topic has been hijacked.

 

A small commercial break until the RD make a further announcement and the doom & gloom can restart in earnest :biggrin::biggrin:

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Posted
1 hour ago, jerrymahoney said:

While it has been oft noted on this topic, any new Revenue regime would require new legislation and the Gazette, etc., the Revenue folks already have a trifecta of regulations at their disposal:

 

TAX EVASION LAWS:

 

https://sherrings.com/tax-evasion-in-thailand.html

 

Keyword is "intentionally".

 

People have no intention not to file tax returns to evade tax or to file false ones.

They are just not aware of any recent change because they haven't received any direct information from RD officials.

 

"Thailand is a land of compromise", it's ok not to know.

 

Posted
2 minutes ago, Danderman123 said:

Here is reality:

 

the vast majority of Farangs living in Thailand have no idea about the new regs, would have no idea what to do about them, and probably do nothing unless something diffetent happens.

 

I'm pretty sure , something different is already going to happen.

in two days time. :giggle:

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