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


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Posted
3 hours ago, hotandsticky said:

Don't hold your breath.

Don't get it. There must be a reason why this thread has 43 pages (and there are numerous media posts elsewhere). Don't you think that there will be more news about this next year?

Posted
3 minutes ago, vukovar77 said:

I have tax number as an expat here for about 8 years.Every year they ask po provide more and more documents and data.I am from EU.This year was pretty tough (for 2022)and RD check out all pension listings per month for 2022 to check out did I pay and how much taxes.They ask for yearly tax report in my home country.They ask me to show them my bank accounts in Thai banks as well.I am on retirement visa and I never had any bussiness here or rental income as well.I have Thai wife. Had to go to RD 3 times to provide all data and documents .We live simple life and abide Thai laws which demands for expats with permanent residence to have a tax number.From my experience and from my point of view it is not easy for expats do deal with this all even my income(state pension) is pretty low  comparing with most of expats live here (from my knowledge).If they do not change a new rules, next year will be very challenging for us permanents residents,from my point of view.

Why did you get a tax number in first place? Pay lower tax here, and save deduct tax paid home? 

Posted
1 minute ago, Hummin said:

Why did you get a tax number in first place? Pay lower tax here, and save deduct tax paid home? 

Well,I thought it is mandatory for us to live here more than 180 days per year even before this changes.I met many expats on retirement visa in RD.

Maybe I should avoid that like many other expats,but in the near future it seems that all expats should have tax number,from my point of view.

I payed all taxes in my country like any other residents.

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Posted
On 9/23/2023 at 2:10 PM, Lorry said:

If you are over 65, and IF they grant you the same allowance as Thais, 

there is another allowance of 190,000. That would result in about 40k tax.

There even is an allowance of 100,000 for pensions, but they will probably say "only Thai pensions"

 

BTW it's 780K, not 980K

Yep lets hope so - and additional 190K (340K tax exempt) changes it quite a bit. 

Most pensions will be exmept - all the county's DTA I looked at excluded pensions. 

Thanks for letting me know about the typo.

Posted
1 minute ago, vukovar77 said:

Well,I thought it is mandatory for us to live here more than 180 days per year even before this changes.I met many expats on retirement visa in RD.

Maybe I should avoid that like many other expats,but in the near future it seems that all expats should have tax number,from my point of view.

I payed all taxes in my country like any other residents.

If I pay taxes in Thailand, I will deduct my paid taxes in my home country, and that's why other expats got their tax numbers, to pay less tax. 

 

Most of the European countries have that tax deal. 

 

 

Posted
6 hours ago, Mike Teavee said:

For an individual who was resident in the UK for one or more of the preceding three tax years the limit is 15 days or

Quite right, I've been in the UK for about 5 days in total over the last 15 years, if you're determined you can easily break all ties to the UK.

Posted
2 hours ago, JimGant said:

But if you're at, or approaching the $80,000 category (i.e, Thai taxes at the 21.2% rate) -- go get the LTR Wealthy Pensioner visa. This will protect your foreign income from Thai taxes, confirmed by the latest reports.

Are you sure that LTR 5 year+ retirement visa avoids Thai income tax? I thought it was a requirement, which kind of put me off, just like applying for PR for same reason.

Posted
3 minutes ago, hotandsticky said:

 

Personally, no.

 

But, I could very easily be wrong and my current optimism could be driven by my belief that the Thai authorities could not organise a p!ss up in a brothel 

 

Scaremongering and fantasy, is my view, fuelling the paranoia of expats with too much time on their hands so they look for demons where not exist.

 

I am not wasting a minute of my time on the subject, nor will I lose a second of sleep over it.

 

They can do what they like and I will respond accordingly. Let me day this - not one Satang of my money will be paid in tax, on my UK income, to the Thailand authorities.

 

I can't even get a pink card (don't want one now) so I am buggered if I am going to accept a tax number.

 

If the ultimate outcome is that I feel forced out of Thailand, so be it.

I totally agree..............????

 

(It's p_ss up in a brewery).....????

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Posted
5 minutes ago, transam said:

I totally agree..............????

 

(It's p_ss up in a brewery).....????

LOL????.....I like to mix up my sayings..... I could have said orgy in a brewery........

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Posted

Let's hope the Thai RD impose only a minimum tax on foreign retirees. Portugal used to be among the countries that didn't tax foreign income of expat retirees. They changed it a couple of years ago, but impose only a 10% flat rate for foreign-sourced income. That could be easier and certainly more acceptable than 25-35% which Thailand presently charges. 

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Posted
22 hours ago, beammeup said:

Its not up to the banks. like every country its up to you to declare what you have earned and what you owe. Why bis this so freaking complicated. just pay tax on what you remitt into thailand.

Not correct, in  a lot of countries Germany and Thailand included, you are "taxed" right away by your bank  on interest and capital gains before the money even reaches your account. You can then have the amount checked at year end by the tax authorities.

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Posted
46 minutes ago, Thingamabob said:

It may be entirely wrong but I was told by a Thai lawyer some years ago that pensions were not taxed in Thailand. 

In case of Germany correct with some exceptions.

Posted
10 hours ago, Felt 35 said:

Anyone who know if the new tax regulations also will include inheritance from a Foreigner to Thai spouse and how shall it eventually be controlled if its savings and a gift / inheritance? ????

Felt 

Inheritance tax in Thailand is exempted between spouses and otherwise only payable over l million baht.  In the UK it is also generally exempted but only for foreign spouses, if the have lived in the UK and have an NHS number. 

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