Foreigners and their overseas income: what next?

[ukrules]

I'm still taking the long holiday option and keeping my days below 180, I'll learn from the rest of you what happens.

 

I'm off to Cambodia soon.

[MartinBangkok]

On 4/27/2024 at 1:07 AM, ukrules said:

I'm still taking the long holiday option and keeping my days below 180, I'll learn from the rest of you what happens.

 

I'm off to Cambodia soon.

I've done it already. Not Cambodia, but not far from Thailand 😉

[ukrules]

3 hours ago, MartinBangkok said:

I've done it already. Not Cambodia, but not far from Thailand 😉

 

I'm not there yet but going pretty soon! Want to leave some room for a couple of trips back later this year with room to stay under the 180 days

[CartagenaWarlock]

I have a few options. I have already spent 2.5 months in Thailand this year. Now I'm in the US. I will spend another two months in Thailand; I am not sure when. My plan was to spend more time in Thailand than my usual six months, but that is not going to happen unless I start drawing my SS in 2026. I am thinking about spending two/three months in India. Now it is boiling everywhere in South and Southeast Asia. After that, the monsoon will come. So, looks like I'm stuck in the US for now.

[JimGant]

22 minutes ago, CartagenaWarlock said:

Now I'm in the US.

Are you a US citizen? If so, why do you think your total tax bill, between both countries, will be higher than if the pre 2024 Thai tax rules were still in effect?

[AreYouGerman]

On 4/4/2024 at 4:04 PM, Dogmatix said:

 

The Thai bureaucrats and politicians don't care.  The Thai Revenue Code has always said anyone who spends more than 180 days in the Kingdom is a Thai tax residents and liable to pay Thai income tax, regardless of nationality or benefits they think they get from the tax.  Many Thais are also not happy with how their tax money is spent and it is very clear that much of it is wasted or outright stolen but nothing they can do about it. Most can't leave like you can.

 

Rightfully so! Foreigners must pay to the full extend of the Thai tax law and every filing should be extra carefully audited as every Thai knows about the the dirty tricks from farangs to circumvent the law.

 

Shady farang, watch out!

[CartagenaWarlock]

Just now, JimGant said:

Are you a US citizen? If so, why do you think your total tax bill, between both countries, will be higher than if the pre 2024 Thai tax rules were still in effect?

Yes. I don't want to mess with Thai bureaucracy. In two more years, I will start getting my SS, which at the current rate will be around $3,300. If I bring 2K, I can declare everything from my SS, which will be tax free. Now I bring the same amount from my 401(K), and I also have other income from my part-time consulting job.  It will be simpler when I get my SS.