More details on Thai taxation of overseas income

[CartagenaWarlock]

9 hours ago, bunnydrops said:

Can Thailand tax you on the $27700?

I would say. Because you did not pay taxes in the US. 

[Srikcir]

1 hour ago, TroubleandGrumpy said:

Did that already - last week - no response ????

 

Means they have no official position. I think with regard to foreigners they found out how clueless the world outside of Thailand works.

[ericthai]

15 hours ago, Bday Prang said:

Well that certainly addresses most concerns expressed by others on here, Not !

All sounds a bit surreal to me, how on earth can they tell what year any money I send here was originally earned?

Cannot see it ending well though, not without a loss of face somewhere along the line and probably by somebody quite important

you think you're going to get a clear rule?  No laws or rules in Thailand are clear. This allows enterprising government employees to make things work for them. 

[Neeranam]

5 hours ago, jaywalker2 said:

yes. I wonder how Wise transfers would categorized, since they are registered as domestic transfers.

Can you get a Wise atm card? 

[MeePeeMai]

32 minutes ago, ericthai said:

you think you're going to get a clear rule?  No laws or rules in Thailand are clear. This allows enterprising government employees to make things work for them. 

Yes and it also leaves the door wide open for "selective enforcement" . 

[andux]

What if I bring savings from money earned in 2002? Do I need to show my 2002 tax report?

[BenStark]

7 minutes ago, andux said:

What if I bring savings from money earned in 2002? Do I need to show my 2002 tax report?

I think @Mike Teavee explained it very well.

 

 

 

[Mr Meeseeks]

13 hours ago, hotchilli said:

I'll wait for January 1st... see what the final outcome is.

Tax my pension I'm out of here.

Maybe that is the intention, to thin out the foreign retiree herd?

 

In any case, this will be the usual Thai debacle, a mess, and total confusion. 

[retiree]

I'm guessing it might be prudent simply to open a separate account for income from 2024 and beyond, and to  make any transfers to Thailand from your current 2023 account(s), assuming you can afford it.

 

I realize it might not be quite so simple if you have complex investments and such, but think of it like this:  on January 1 2024 you're getting married to Thailand in a community property state!  Take the same basic steps you and your partner might take back home to clarify what your pre-existing assets are.

 

Actually, it's just the inverse of community property.  In case of divorce you typically want to show that you only spent post-marriage community property income, minimizing what's left to haggle over.  Here, you want to show that you only spent your own preexisting income during your tax residency in Thailand (and all the money you made while you're here is still in the bank or investments).  

Edited October 4, 2023 by retiree

[deejai33]

24 minutes ago, retiree said:

I'm guessing it might be prudent simply to open a separate account for income from 2024 and beyond, and to  make any transfers to Thailand from your current 2023 account(s), assuming you can afford it.

 

 

Under the proposed rules the 'previous years income' loophole/rule will not apply in 2024.  Its too late to do much about 2023 now.

 

In retrospect, what expats should have done for past 40+ years is what you say.

 

In say 2015 open an account called 2015 income.  Place enough money for 2016 expenses into account before end of december 2015.  Taxed or untaxed money, doesnt matter.

 

On 1st Jan 2016, transfer all it it to thailand.  That money is previous years, so no tax on it. Nothing about is it pension, interest, dividend etc. Easy, using loophole !

 

Start a new account for 2016 income and repeat

 

 

The few lines of transactions on the bank statements would be full proof of your compliance with the rules.

 

Looking back on this, I am now shocked that this was a well known process for expats.  Many advisors, web experts out there.  Why was it not well discussed ?

 

Probably as RD didnt pursue us for tax.   But they could have, and could look back to older years if they wanted too.

 

Maybe worth doing a 2023 account, just incase they repeal the new change.

 

Edited October 4, 2023 by deejai33

[Paris333]

Very good clarification thank you Thai Revenue Department!

[Dogmatix]

6 hours ago, John Drake said:

That does sound as if the people this tax revision most likely hurts are the "quality retirees" Thailand claimed it wanted so much. Elite and LTR sound like they could be put on the rack for this. The small end guys not so much--just the new people bringing in their 800K for retirement extensions who it seems will have that taxed. And then they'll need to top off what was taxed to get back to the 800K. But then the top off will be taxed too. It's like going into a store in the USA where you need to calculate the sales tax before you buy an item and make sure you have enough money.

Elite visa holders, who are also tax residents, should be prepared to pay tax on the 500k to 5 mil they remit to renew their Elite cards. 

[Geir Rasch]

There is nothing new about this. Has been for many years: income you bring to Thailand the same tax year you earn it, is taxable in Thailand, savings is not.

If there is anything new, that must be enforsing it. Some time ago I asked a person at RD why they didn’t cowork with immigration to ensure that foreigner (retired) pay tax. The answer was that few thai retired people paid tax, so they cannot use a more harsh practice for foreigners. May be that is about to change?

[moogradod]

48 minutes ago, Dogmatix said:

Elite visa holders, who are also tax residents, should be prepared to pay tax on the 500k to 5 mil they remit to renew their Elite cards. 

....... if paid before Jan 1, 2024 and remitted from abroad only - maybe.

 

Too much scaremongering especially on no solid basis in this thread I think.

[andux]

2 minutes ago, Geir Rasch said:

There is nothing new about this. Has been for many years: income you bring to Thailand the same tax year you earn it, is taxable in Thailand, savings is not.

If there is anything new, that must be enforsing it. Some time ago I asked a person at RD why they didn’t cowork with immigration to ensure that foreigner (retired) pay tax. The answer was that few thai retired people paid tax, so they cannot use a more harsh practice for foreigners. May be that is about to change?

 

Yeah but now the year doesn't matter.

 

Let's say that you sell stocks in USA today, for a capital gain of $50,000, and bring that money to Thailand next year (2024). 

 

With the new law, those $50,000 have to be declared and taxed in Thailand. In the past, those $50,000 were legally tax-free and didn't need to be declared. USA doesn't tax capital gains of non-residents, and Thailand didn't tax deferred income.

 

So, yes, that changed, and makes Thailand less attractive. Yes, I know, you should pay tax blah blah blah. But it's not a good deal to pay tax in a country that gives you nothing in return, no social security, no pension, no healthcare, no sidewalks, not even the possibility of volunteering at a local hospital.

 

Good weather, cheap prices and easy girls, but that gets old after a while...

 

[retiree]

1 hour ago, andux said:

But it's not a good deal to pay tax in a country that gives you nothing in return, no social security, no pension, no healthcare, no sidewalks, not even the possibility of volunteering at a local hospital.

Quality of life is not based on whether or not you get these things.  It's whether they're available to the population in general. 

 

If you think life is not satisfying in Thailand, you should consider what it would be like in Somalia, Syria, Sudan, Afghanistan, Yemen, Haiti, Burma, or other non-functioning states.

 

If I could get the quality of life I have here, anywhere in the world, for a tax payment of about 15% per cent on $50,000 income (ignoring retirement deductions, which would cut this in half if eligible, not sure) ... seems like a solid deal to me.

https://www.uobam.co.th/en/tax-calculation

Edited October 4, 2023 by retiree

[Guavaman]

Fellow aliens subject to the income tax system in the Land of Smiles:

 

It is highly unfortunate for all AN members that the OP “More details on Thai taxation of overseas income” referred to misinformation published by ScanAsia as “More details on Thai taxation of overseas income October 3, 2023 - by Gregers Møller.

 

I suggest that AN readers completely delete the content of these postings from their memories, and immediately cease referring to them in posts and comments on AN to reduce the confusion created due to these posts.

 

What these “journalists” may have been referring to is the recent online publishing by the Legal Division of the Revenue Department Public Relations News on 2 Oct 2023 of “Q&A (in Thai) on this Revenue Department webpage:  Q&A คำสั่งกรมสรรพากร ที่ ป.161/2566 ลงวันที่ 15 กันยายน พ.ศ.2566

 

This webpage presents an informative clarification in a well-formatted set of 11 questions, answers, and examples (in Thai) regarding the recent Order by the Director General of the Revenue Department for use by RD officials in implementing the new Order.

https://www.rd.go.th/fileadmin/centralize/news_law_update/2566/QnA41_2.pdf

 

I have read these questions, answers, and examples in Thai, but I realize that many AN readers are illiterate in the language in which they have tax residency = Thailand. 

 

I suppose that these Q&As will eventually be published in an official English translation by the Revenue Department. In the interim, with the aim to reduce the stress caused by uncertainty due to the recent Order of the Director General of the Revenue Department, I am offering herewith the partial translation from Google of the Q&A posting to help you to begin to think through a strategy to respond to the official order.

 

QUESTION #1

Question: Order of the Revenue Department No. P. 161/2023 dated September 15, 2023.

How do you steal a bear? [What are the principles]

QUESTION #2

Question: Revenue Department Instruction No. P. 161/2023, dated 15 September 2023.

 How do I use deletion?  [What are the effects and when are they effective?]

QUESTION #3

What does "Resident in Thailand" mean?

QUESTION #4

What are the types of assessed income that must be subject to income tax under Section 41?, the second paragraph of the Revenue Code?

ANSWER:

Money has not been assessed from foreign sources at If you stay, you are forced to pay income tax including assessable income according to Section 40 (1) to (8) of the Revenue Code.

However, if it is assessable income received Tax exemption according to law. Taxpayers do not have to bring the assessable income is taxed in Thailand such as receiving an inheritance or receiving income received from the support of parents and trusted people, or marrying a married couple, only the money that is not received exceeding 20 millions of baht for the entire tax year.

QUESTION #5

If you use the money to buy stocks Borrow a foreign loan and receive interest crumbling from holding stocks and bonds. Later, the principal and interest were brought back into Thailand.

You must bring the principal and interest crumbling. Let's gather together the words to calculate income tax for natural persons. Yes or no?

QUESTION #6

If it is income based on assessment not known before 2024 but imported into Thailand in 2024, will I have to pay taxes or not?

QUESTION #7

If it is money, have you relied on an incorrect assessment expected to be received in 2023 and imported into Thailand.

In 2023, will I have to pay tax or not?

QUESTION #8

If you are not residing in Thailand for 180 days or more in a tax year, but have the funds to rely on this assessment. From the source of income Foreign persons in such tax year are subject to income tax. Individuals, when the income they relied on for assessment, did they return to Thailand or not?

QUESTION #9

If a person goes to live, work, or carry on a business in foreign countries. After a long time, he later wanted to come back and live in Thailand, so he brought his savings from working or operating a business abroad, such person must pay taxes on the use of that accumulated money have you entered Thailand or not? [when remitted to Thailand]

ANSWER:

No, you must pay taxes in the case of using money accumulated from doing work or business abroad into Thailand because such accumulated money has a place come from the money has been based on the evaluation Gidki [activities] occurred in the year of the specified tax year at the person has been in Thailand for less than 180 days.

For example, Mrs. D. is a Thai national and has been living in China since 2007 onwards. But in 2024, Mrs. D. wants to travel back to live in Thailand permanently, so the money accumulated from operating in China was brought back into All of Thailand. As such, Mrs. D. is not obliged to pay personal income tax for money imported into Thailand in 2024, because such accumulated money has a place come from income depends on the assessment of Gidki [activity] arose in the year of this tax that D. not the name of the person residing in Thailand.

QUESTION #10

If the income subject to assessment is not imported into Thailand for a year, the income received is subject to tax. If you have earned income abroad, if you bring it back in, you must bring it at a loss. Is tax collection in Thailand again a year? Is it a duplicate, double tax collection or not?

ANSWER:

There is no duplicate income tax in this case. Who is a person, who has a person, who has a place at tax address in Thailand (I'm in Thailand. Starting from 180 days ) can bring tax at tax at save the money for foreigners to use as credit and withhold taxes at must wasted in Thailand in the tax year introduced Assessable income can be brought into Thailand.

According to the provisions of the Double Tax Convention, Thailand is a contracting party with that country.

QUESTION #11

Revenue Department Order No. P.161/2023 is not legal. Tax victims must comply with the regulations.

Is the Revenue Department order like this or not?

ANSWER:

It is not a law, but a word explaining the law, Section 41. The second paragraph wraps Revenue Code.

Tax victims still have the burden of having to comply with the law in paying taxes, which is an order.

The Revenue Department, Category P., is an order that the Director-General, who is in the position of Comptroller, orders.

Employees of the Revenue Department are considered as Practice guidelines for giving advice and advice to tax victims to enable the m to comply with the law correctly.

 

I spent 2 hours of pasting and translating in Google to come up with this. I only expanded the answers and example for the issues that I think are most pertinent for most expats.  If you desire more comprehensive translation -- as the Thais say: "up to you". 

 

I think that my efforts are enough for you to begin to formulate a plan to meet the requirements of RD while minimizing any additional taxation in Thailand.

 

I would suggest that you first focus upon avoiding the need to file a tax return on funds remitted into Thailand. Stealth is the best strategy to fly under the radar and avoid filing a tax return. 

 

If you are over 65 years old, and unmarried, you are exempt from filing if your assessable income brought into Thailand is less than 190,000 Baht per year. This does not include income from social security and govt. pensions. If age under 65, you are exempt from filing if your assessable income brought into Thailand is not more than 150,000 Baht. 

 

If you are married, your spouse is exempt from assessable income [brought into Thailand] is not more than 150,000 Baht.  So if you are married and your assessable joint income is less than 300,000 Baht (both under 65), 340,000 Baht (one over 65 and one under), or 380,000 if both of you are over 65 -- you don't need to file a tax return.

 

The best tax advantage for married people or people with parents or children in Thailand, is the loophole in the Thai tax code for the ultra-rich:

 

One can provide gifts to spouses, children, parents up to 20m Baht each annually with absolutely no tax implications.

 

For example: Under DTAs foreign social security benefits are not taxable in the state of residence (Thailand). So you can bring in your social security benefits (by direct deposit to provide an audit trail), and then transfer gifts to your wife and or children up to 20m Baht each annually (adding notation to the transfers as gifts from Mr. X to Mrs. Y to provide an audit trail).  One could gift 20m each to wife and children annually, then ask them to pay for all of your needs -- if they are still hanging around after you have spoiled them. Warning!

 

May you all be liberated from suffering due to issues related to taxation of funds remitted into Thailand.

 

It is possible to meet the requirements of immigration while avoiding filing tax returns and paying tax on income from foreign sources, but you need to develop insight into the laws, rationale, and loopholes in the Thai tax system.

 

Stop freaking-out and use your pre-frontal cortex to make a clever plan to deal with the Thai tax system -- that is how the Thai billionaires think.

 

Metta

 

[Puccini]

18 hours ago, Srikcir said:

...What is "income?"...

In the context of income taxation,

• there is income,
• there is assessable income,
• and there is taxable income.

Not all income is necessarily assessable income, and not all assessable income is necessarily taxable income.

[Puccini]

17 hours ago, buriram39 said:

What if the income received overseas is exempt frommtax innthe country of origin?

Check Thailand's DTA with your country. Not all DTAs are equal.

[NanLaew]

14 hours ago, Neeranam said:

I will get a British state pension in 10 years. 

If I am still working, could I pay tax on the pension in the UK, and tax on my work (online) in Thailand?

 

The UK state pension will be taxed at source and, if the DWP are totally compliant with the rules (and I think they will be), will not attract additional taxation if remitted to Thailand.

 

If you are already paying Thai income tax on the online work, I would think you can continue to do so.

[NanLaew]

14 hours ago, freeworld said:

That 200 Baht is a service fee, not a tax.

 

Correct, but as some have suggested here, if one choses to avoid taxation in any shape or form and simply pull your weekly/monthly stipend from overseas via a local ATM, then the fee is essentially the same as tax, ie. a deduction or an amount of YOUR money that a third party takes from you.

 

14 hours ago, freeworld said:

Tax transfers...Why? The receiving banks do not know the origin and history of the money. The tax authorities already have their laws, revenue codes and orders and what not to control taxation.

Again correct, the remitting bank knows "the origin and history of the money" that is being sent overseas, the receiving bank doesn't need to know as the remitting bank has done the due diligence on that. The same happens when one is sending money from Thailand to another country, where the Thai (remitting) bank verifies the source of the money first.

 

The tax authorities have their laws, including Thailand's tax authority. Thailand is belatedly taking steps to enforce these laws already in-place in order to comply with international banking laws and regulations. That is what is happening here.

 

So, what's your point?

[NanLaew]

1 hour ago, Puccini said:

19 hours ago, Srikcir said:

...What is "income?"...

In the context of income taxation,

• there is income,
• there is assessable income,
• and there is taxable income.

Not all income is necessarily assessable income, and not all assessable income is necessarily taxable income.

And then there's hair-splitting and irrelevant stuff that doesn't apply here.

 

For this, Thailand-specific debate on income tax,  "income" is any and all money received in Thailand without the sub-classes that your copy/paste from a non-Thai tax regulation implies., ie. as far as RD is concerned, it is ALL assessable.

 

If it has been assessed in the domicile of origin and flagged as non-taxable, it won't be re-assessed here. If it has come from under the matress and thus has no providence of being assessed in the domicile of origin, it will be flagged as assessable for Thai income tax.

[Lorry]

3 hours ago, Guavaman said:

Fellow aliens subject to the income tax system in the Land of Smiles:

 

It is highly unfortunate for all AN members that the OP “More details on Thai taxation of overseas income” referred to misinformation published by ScanAsia as “More details on Thai taxation of overseas income October 3, 2023 - by Gregers Møller.

 

I suggest that AN readers completely delete the content of these postings from their memories, and immediately cease referring to them in posts and comments on AN to reduce the confusion created due to these posts.

 

What these “journalists” may have been referring to is the recent online publishing by the Legal Division of the Revenue Department Public Relations News on 2 Oct 2023 of “Q&A (in Thai) on this Revenue Department webpage:  Q&A คำสั่งกรมสรรพากร ที่ ป.161/2566 ลงวันที่ 15 กันยายน พ.ศ.2566

 

This webpage presents an informative clarification in a well-formatted set of 11 questions, answers, and examples (in Thai) regarding the recent Order by the Director General of the Revenue Department for use by RD officials in implementing the new Order.

https://www.rd.go.th/fileadmin/centralize/news_law_update/2566/QnA41_2.pdf

 

I have read these questions, answers, and examples in Thai, but I realize that many AN readers are illiterate in the language in which they have tax residency = Thailand. 

 

I suppose that these Q&As will eventually be published in an official English translation by the Revenue Department. In the interim, with the aim to reduce the stress caused by uncertainty due to the recent Order of the Director General of the Revenue Department, I am offering herewith the partial translation from Google of the Q&A posting to help you to begin to think through a strategy to respond to the official order.

 

QUESTION #1

Question: Order of the Revenue Department No. P. 161/2023 dated September 15, 2023.

How do you steal a bear? [What are the principles]

QUESTION #2

Question: Revenue Department Instruction No. P. 161/2023, dated 15 September 2023.

 How do I use deletion?  [What are the effects and when are they effective?]

QUESTION #3

What does "Resident in Thailand" mean?

QUESTION #4

What are the types of assessed income that must be subject to income tax under Section 41?, the second paragraph of the Revenue Code?

ANSWER:

Money has not been assessed from foreign sources at If you stay, you are forced to pay income tax including assessable income according to Section 40 (1) to (8) of the Revenue Code.

However, if it is assessable income received Tax exemption according to law. Taxpayers do not have to bring the assessable income is taxed in Thailand such as receiving an inheritance or receiving income received from the support of parents and trusted people, or marrying a married couple, only the money that is not received exceeding 20 millions of baht for the entire tax year.

QUESTION #5

If you use the money to buy stocks Borrow a foreign loan and receive interest crumbling from holding stocks and bonds. Later, the principal and interest were brought back into Thailand.

You must bring the principal and interest crumbling. Let's gather together the words to calculate income tax for natural persons. Yes or no?

QUESTION #6

If it is income based on assessment not known before 2024 but imported into Thailand in 2024, will I have to pay taxes or not?

QUESTION #7

If it is money, have you relied on an incorrect assessment expected to be received in 2023 and imported into Thailand.

In 2023, will I have to pay tax or not?

QUESTION #8

If you are not residing in Thailand for 180 days or more in a tax year, but have the funds to rely on this assessment. From the source of income Foreign persons in such tax year are subject to income tax. Individuals, when the income they relied on for assessment, did they return to Thailand or not?

QUESTION #9

If a person goes to live, work, or carry on a business in foreign countries. After a long time, he later wanted to come back and live in Thailand, so he brought his savings from working or operating a business abroad, such person must pay taxes on the use of that accumulated money have you entered Thailand or not? [when remitted to Thailand]

ANSWER:

No, you must pay taxes in the case of using money accumulated from doing work or business abroad into Thailand because such accumulated money has a place come from the money has been based on the evaluation Gidki [activities] occurred in the year of the specified tax year at the person has been in Thailand for less than 180 days.

For example, Mrs. D. is a Thai national and has been living in China since 2007 onwards. But in 2024, Mrs. D. wants to travel back to live in Thailand permanently, so the money accumulated from operating in China was brought back into All of Thailand. As such, Mrs. D. is not obliged to pay personal income tax for money imported into Thailand in 2024, because such accumulated money has a place come from income depends on the assessment of Gidki [activity] arose in the year of this tax that D. not the name of the person residing in Thailand.

QUESTION #10

If the income subject to assessment is not imported into Thailand for a year, the income received is subject to tax. If you have earned income abroad, if you bring it back in, you must bring it at a loss. Is tax collection in Thailand again a year? Is it a duplicate, double tax collection or not?

ANSWER:

There is no duplicate income tax in this case. Who is a person, who has a person, who has a place at tax address in Thailand (I'm in Thailand. Starting from 180 days ) can bring tax at tax at save the money for foreigners to use as credit and withhold taxes at must wasted in Thailand in the tax year introduced Assessable income can be brought into Thailand.

According to the provisions of the Double Tax Convention, Thailand is a contracting party with that country.

QUESTION #11

Revenue Department Order No. P.161/2023 is not legal. Tax victims must comply with the regulations.

Is the Revenue Department order like this or not?

ANSWER:

It is not a law, but a word explaining the law, Section 41. The second paragraph wraps Revenue Code.

Tax victims still have the burden of having to comply with the law in paying taxes, which is an order.

The Revenue Department, Category P., is an order that the Director-General, who is in the position of Comptroller, orders.

Employees of the Revenue Department are considered as Practice guidelines for giving advice and advice to tax victims to enable the m to comply with the law correctly.

 

I spent 2 hours of pasting and translating in Google to come up with this. I only expanded the answers and example for the issues that I think are most pertinent for most expats.  If you desire more comprehensive translation -- as the Thais say: "up to you". 

 

I think that my efforts are enough for you to begin to formulate a plan to meet the requirements of RD while minimizing any additional taxation in Thailand.

 

I would suggest that you first focus upon avoiding the need to file a tax return on funds remitted into Thailand. Stealth is the best strategy to fly under the radar and avoid filing a tax return. 

 

If you are over 65 years old, and unmarried, you are exempt from filing if your assessable income brought into Thailand is less than 190,000 Baht per year. This does not include income from social security and govt. pensions. If age under 65, you are exempt from filing if your assessable income brought into Thailand is not more than 150,000 Baht. 

 

If you are married, your spouse is exempt from assessable income [brought into Thailand] is not more than 150,000 Baht.  So if you are married and your assessable joint income is less than 300,000 Baht (both under 65), 340,000 Baht (one over 65 and one under), or 380,000 if both of you are over 65 -- you don't need to file a tax return.

 

The best tax advantage for married people or people with parents or children in Thailand, is the loophole in the Thai tax code for the ultra-rich:

 

One can provide gifts to spouses, children, parents up to 20m Baht each annually with absolutely no tax implications.

 

For example: Under DTAs foreign social security benefits are not taxable in the state of residence (Thailand). So you can bring in your social security benefits (by direct deposit to provide an audit trail), and then transfer gifts to your wife and or children up to 20m Baht each annually (adding notation to the transfers as gifts from Mr. X to Mrs. Y to provide an audit trail).  One could gift 20m each to wife and children annually, then ask them to pay for all of your needs -- if they are still hanging around after you have spoiled them. Warning!

 

May you all be liberated from suffering due to issues related to taxation of funds remitted into Thailand.

 

It is possible to meet the requirements of immigration while avoiding filing tax returns and paying tax on income from foreign sources, but you need to develop insight into the laws, rationale, and loopholes in the Thai tax system.

 

Stop freaking-out and use your pre-frontal cortex to make a clever plan to deal with the Thai tax system -- that is how the Thai billionaires think.

 

Metta

 

Thanks a lot for the link. 

Q1 already answers one question that is often asked: income from years past, is that still considered income (or is it savings)? How far will they go back?

In the answer, they go back 4 years - that gives you some idea.

Q2 doubles down: "no matter when that income was incurred" (in Q9 its 17 years)

 

Q8 endorses the obvious solution: bring your foreign income to Thailand in a year in which you stay less than 180 days in Thailand. This solution was mentioned in the main thread, it had been recommended by a big accounting firm. 

 

Q9 clarifies once more that only foreign income from years in which you were a tax resident in Thailand will be taxed (when you bring it into Thailand) - so all your saved income from the time you lived and worked in farangland will not be taxed.

 

 

Edited October 4, 2023 by Lorry

[andux]

1 hour ago, Lorry said:

Q8 endorses the obvious solution: bring your foreign income to Thailand in a year in which you stay less than 180 days in Thailand. This solution was mentioned in the main thread, it had been recommended by a big accounting firm. 

 

Q9 clarifies once more that only foreign income from years in which you were a tax resident in Thailand will be taxed (when you bring it into Thailand) - so all your saved income from the time you lived and worked in farangland will not be taxed.

 

 

 

Interesting. In that case, suppose that in 2024 a person stays in Thailand only 179 days. That person can bring as much as they want to Thailand and it won't be taxed.

 

Now, suppose that same person, in 2025, spends in Thailand the whole year. Would they be able to freely bring money earned in 2024, since the foreign income from 2024 was earned while they were not in Thailand?

[NanLaew]

17 hours ago, hondoelsinore said:

Easy to play the fair game with the typical liberal mindset of civic responsibility when the tax rate of your residency is lower than your mother country, it's just not necessary to virtue signal to strangers on the Internet. 

What on earth does personal income tax mitigation and relief got to do with virtue signalling?

[Haskell954]

On 10/4/2023 at 5:52 AM, Thailand J said:

US pension and SS are covered by the tax treaty, no double tax.

For Dividends and Capital gains, savings from 15+ years ago, tax credit is not enough relief. 150,000B exemption is a joke.

If you are US citizen who live overseas, US IRS will tax your foreign income but they allow a generous $120,000 foreign income tax free. How does 150,000B compare?

I am in somewhat of a different position because of my VA disability - that is non taxable income, so I can't prove I've paid taxes on it.  I read the US - Thailand DTA, it was clear on Social Security.  But I couldn't quite make out if my non-taxable VA disability payments would be taxable pension income in Thailand.

[hondoelsinore]

33 minutes ago, NanLaew said:

What on earth does personal income tax mitigation and relief got to do with virtue signalling? 

 Certain people always feel compelled to make it out that they are just doing the right thing, when in reality they are just going the cheapest route. It seems to be in their DNA, must be in yours as well...

16 hours ago, grubman said:

So how will this effect me, I work out of Thailand for 4 month at a time and then spend 2 months in Thailand and have my salary send to my Thai account, I enter on a one year visa based on marriage, i am not a resident of Thailand so with this new tax effect me ??

 

[Thailand J]

When I was reading the qualification for LTR 10 yr visa, in it Thai authority categorized incomes into "earned income"  and" passive income. I hope the new tax law will exempt all passive incomes, so people like  us and all the retirees here don't have to be concerned.

 

Edited October 4, 2023 by Thailand J

[Haskell954]

6 hours ago, Guavaman said:

 

QUESTION #4

What are the types of assessed income that must be subject to income tax under Section 41?, the second paragraph of the Revenue Code?

ANSWER:

Money has not been assessed from foreign sources at If you stay, you are forced to pay income tax including assessable income according to Section 40 (1) to (8) of the Revenue Code.

However, if it is assessable income received Tax exemption according to law. Taxpayers do not have to bring the assessable income is taxed in Thailand such as receiving an inheritance or receiving income received from the support of parents and trusted people, or marrying a married couple, only the money that is not received exceeding 20 millions of baht for the entire tax year.

 

 

So does this mean if our income is tax-exempt according to law in our home countries, it will remain tax exempt here?  Or does this mean mean it will be taxed.

Edited October 4, 2023 by Haskell954

[Guavaman]

 

27 minutes ago, Haskell954 said:

I am in somewhat of a different position because of my VA disability - that is non taxable income, so I can't prove I've paid taxes on it.  I read the US - Thailand DTA, it was clear on Social Security.  But I couldn't quite make out if my non-taxable VA disability payments would be taxable pension income in Thailand.

Article 21 (Government Service)

 2. a) Any pension paid by, or out of funds created by, a Contracting State or political
subdivision or a local authority thereof to an individual in respect of services rendered to that
State or subdivision or authority shall be taxable only in that State.
b) However, such pension shall be taxable only in the other Contracting State if the
individual is a resident of, and a national of, that other State.