Good plan to avoid new tax on foreign funds?

[CanadaSam]

Anybody knowledgeable please let me know, can I simply transfer my monthly foreign inward remittances to my girlfriend's bank account, or are Thai's also going to be taxed on foreign funds from Jan. 1st?

 

I do realize that this stupid tax is going to collapse the Real Estate Market in Thailand, because which foreigner is going to bring in loads of money to buy condo's here, when the Gov't will take away potentially 35% of their hard earned money the moment it hits a Thai bank!

 

Crazy fools, not thinking things through before announcing / implementing drastic changes in policy!

[ChaiyaTH]

Obviously she would need to pay tax on any income.

[The Cyclist]

17 minutes ago, CanadaSam said:

Anybody knowledgeable please let me know, can I simply transfer my monthly foreign inward remittances to my girlfriend's bank account,

 

Yes, you can

 

17 minutes ago, CanadaSam said:

or are Thai's also going to be taxed on foreign funds from Jan. 1st?

 

Yes, they are.

[Etaoin Shrdlu]

If you are remitting your offshore income as defined by the new rules, then you would be required to pay the tax. I don't think it will matter how or to whom the funds are remitted.

 

 

Edited December 9, 2023 by Etaoin Shrdlu

[DrJoy]

18 minutes ago, CanadaSam said:

or are Thai's also going to be taxed on foreign funds from Jan. 1st?

Any human, who stays in Thailand for more than 180 days in a year is deemed to be a Tax resident of Thailand.

 

The Thai revenue dept does not specify any nationality/citizenship in the tax law.

[bamnutsak]

4 hours ago, CanadaSam said:

I do realize that this stupid tax is going to collapse the Real Estate Market in Thailand

 

I've got to believe that there will be a waiver/exclusion for a condo purchase. I mean Srettha did flog real estate so he can't be that stoopid.

 

 

 

 

A lot of Thais are going to be shocked when they find out they have a potential tax liability on funds remitted to them, unless Buffalo Repairs are excluded.