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Exemptions under the new tax laws?

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18 hours ago, Presnock said:

 

WIth US govt pension is easy enough to do, get yearly/monthly reports of pension funds sent and taxes deducted, then at end of year get a w2 stating total paid during the year and taxes paid for that period and if that is not enough, then there is my 1040 income tax form that I have to do yearly.

fyi interesting article on some local powers against this new policy too in Thai Examiner.com

I think you are dreaming there, as if that was true, then they, TH IMM would simply have started accepting those, (W-2/1099) as proof of income, instead of the 'income affidavit' that embassy is too lazy to verify by same means for our $50.  

 

Which I'm happy they stopped issuing, as would rather give $10 ish to TH bank for actually doing something than $50 to the embassy's scam.

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  • TheAppletons
    TheAppletons

    I'm relatively certain this applies only to the "built-in" exemption for people holding the "wealthy pensioner" Long Term Resident (LTR) visa.          

  • TroubleandGrumpy
    TroubleandGrumpy

    The latest advice I have from a tax consultant is that it is very unlikley that the Thai RD will require retired/married Expats to pay income taxes. Most money they have is either exempt (Pensions etc

  • OP is confusing 2 very different things.   (1) Thailand provides a taxation exemption for overseas income for people with the LTR visa, which requires an income on at least $80,000 a year.

6 hours ago, jerrymahoney said:

However, the conditions, methodologies, and documents supporting the claim are still unclear.

 

Thanks Jerry.

 

Yes, some things are indeed still unclear.

 

6 hours ago, jerrymahoney said:

The plan includes an amendment of the personal income tax return form to facilitate the foreign tax credit claim.

 

Thats the badger I was looking for.

 

What is included in the amendment will speak volumes and will dictate ( at least for some ) what avenue they will need to go down.

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