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      Its Happening - Law to Tax Overseas Income Now in Progress

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What do you think the impact of tax on foreign income will be on Pattaya?


Villapete

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26 minutes ago, bkk6060 said:

Depends on where you are from and the income.  UK pensioners for example rain in a gigantic 30,000 b a month.

With the 60,000 b personal writeoff allowance here, that leaves them around 300,000 b a year.  That is taxed at 5% so not a huge tax burden.  Probably a few less beers, less ciggies, and bargirls once every 2 weeks instead of once a week.

In the end, could actually create some healthier lifestyle habits.

Over age 65 allowances and deductions total over 500k per year. 60k personal allowance, 190k over age 65 allowance, 50% or 100k pension allowance, 150k zero rated tax.

 

 

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10 minutes ago, Mike Lister said:

Over age 65 allowances and deductions total over 500k per year. 60k personal allowance, 190k over age 65 allowance, 50% or 100k pension allowance, 150k zero rated tax.

Are you saying that a single  UK retiree >65 on full state pension will NOT pay any tax in Thailand?

 

 

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14 minutes ago, Mike Lister said:

The stated aim was to apply tax against taxpayers with overseas earnings that were previously being taxed.

I take it you meant "not" being taxed?

 

I am also intrigued what @jaywalker2 has heard to make the statement he did..........

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