LTR tax exemption

[hwas]

received this today:
 

Greetings from the LTR Visa Unit.

 

We want to clarify that the tax exemption for overseas income will commence from the month you receive the LTR Visa onward, which typically falls within the next tax year. 

 

Any income earned in the period prior to holding the LTR Visa will not be considered for tax exemption.

 

 

[JackGats]

Oh dear. We're back to earned income now. These feedbacks from the LTR units will soon have covered all thinkable enforcements and their opposites.

Edited September 27, 2023 by JackGats

[Ben Zioner]

2 hours ago, hwas said:

Any income earned in the period prior to holding the LTR Visa will not be considered for tax exemption.

 

So, they didn't write "Any income earned in the period prior to holding the LTR Visa or after December 31, 2023 will not be considered for tax exemption." ?

Edited September 27, 2023 by Ben Zioner

[hwas]

I received a follow up telephone call from BOI. I asked the specific question regarding transferring money earned from prior employment outside of Thailand and received the response that it would not be exempt

[Ben Zioner]

21 minutes ago, hwas said:

I received a follow up telephone call from BOI. I asked the specific question regarding transferring money earned from prior employment outside of Thailand and received the response that it would not be exempt

Of course  it could be exempt. For  instance if  you transferred before 01/01/2024 income earned before 01/01/2023 it would still be  exempt.

[Ben Zioner]

56 minutes ago, hwas said:

I received a follow up telephone call from BOI. I asked the specific question regarding transferring money earned from prior employment outside of Thailand and received the response that it would not be exempt

This also confirms that, for now, they will focus on taxing remittance. This will have a strange effect on properties purchases by tax residents using fund for abroad. 

 

There will be so many things happening. For instance one of my plans to limit the tax would be to take all longer holidays abroad, in Malaysia, Singapore or Vietnam, which would save the tax on about 300k to 400k taxed at 30%. Would also allow me bring back some cash...

 

But I would imagine that within  a few years they get their act together and implement the system to truly tax income from abroad. After tax they may even enrol us for National Service.

[Maestro]

Where a doule taxation agreement (DTA) is in place, that DTA says in what country the income is assessed for taxation.