Expats in Thailand urged not to worry about negative income tax

[Cebudude]

so thailand is taxing now all worldwide income and is forcing everybody to file tax return!

why in hell would anybody keep staying in thailand and not moving away e.g. to philipined where its still 100% taxfree and you dont need to file any tax return and you dont even have a tax number

I dont understand that why I would to to thailand now  or would stay in thailand after that desaster!

 

[topt]

8 minutes ago, Cebudude said:

so thailand is taxing now all worldwide income

No they are not. 

The current DG of the TRD suggested that they are looking at it which is a long way from implementation.......

 

 

Did you join just to post incorrect information.............

[sometimewoodworker]

3 hours ago, Cebudude said:

so thailand is taxing now all worldwide income

As @topt said, no they are not.

3 hours ago, Cebudude said:

and is forcing everybody to file tax return!

No they are not, there is no change.

3 hours ago, Cebudude said:

not moving away e.g. to philipined

That must be a new country, however it may be as disgustingly polluted as the Philippines, a country that exports the vast majority of its highly educated workers.

[Presnock]

13 hours ago, Cebudude said:

so thailand is taxing now all worldwide income and is forcing everybody to file tax return!

why in hell would anybody keep staying in thailand and not moving away e.g. to philipined where its still 100% taxfree and you dont need to file any tax return and you dont even have a tax number

I dont understand that why I would to to thailand now  or would stay in thailand after that desaster!

 

Thailand has not reported approval of the worldwide income taxation scheme yet!  We are only in the first phase of remittances taxed maybe!

[Presnock]

17 hours ago, Cebudude said:

so thailand is taxing now all worldwide income and is forcing everybody to file tax return!

why in hell would anybody keep staying in thailand and not moving away e.g. to philipined where its still 100% taxfree and you dont need to file any tax return and you dont even have a tax number

I dont understand that why I would to to thailand now  or would stay in thailand after that desaster!

 

o

 

4 hours ago, Presnock said:

Thailand has not reported approval of the worldwide income taxation scheme yet!  We are only in the first phase of remittances taxed maybe!

if coming to  Thailand, and don't want to be taxed on income then stay in the country no more than 179 days as in that case you would not be a tax resident in Thailand.

[Eudaimonia]

I'd like to propose a change based on new PwC guidance that is also in line with Baker McKenzie's earlier information. Tax residency in the year of remittance is irrelevant, it's the earning year that counts.

 

From:
80) Income that was earned and remitted in a year when a person was a Thai tax resident is assessable under Thai tax rules. There is now a growing body of opinion from TRD sources to suggest that overseas income earned whilst Thai tax resident but remitted to Thailand whilst not, is free of Thai tax but this remains uncertain. Some care should be exercised before considering this option, readers may wish to obtain professional tax advice to confirm this point, before using this approach. 

 

To:
80) Income that was earned when a person was a Thai tax resident (in 2024 or later) is assessable under Thai tax rules regardless of tax residency status in the year of remittance. Overseas income that was earned when a person was not a Thai tax resident will likely not be assessable even when remitted later while they are a tax resident. Some care should be exercised before considering this option: readers may wish to obtain professional tax advice to confirm this point before using this approach.

 

https://taxsummaries.pwc.com/thailand/individual/significant-developments

 

[chiang mai]

2 hours ago, Eudaimonia said:

I'd like to propose a change based on new PwC guidance that is also in line with Baker McKenzie's earlier information. Tax residency in the year of remittance is irrelevant, it's the earning year that counts.

 

From:
80) Income that was earned and remitted in a year when a person was a Thai tax resident is assessable under Thai tax rules. There is now a growing body of opinion from TRD sources to suggest that overseas income earned whilst Thai tax resident but remitted to Thailand whilst not, is free of Thai tax but this remains uncertain. Some care should be exercised before considering this option, readers may wish to obtain professional tax advice to confirm this point, before using this approach. 

 

To:
80) Income that was earned when a person was a Thai tax resident (in 2024 or later) is assessable under Thai tax rules regardless of tax residency status in the year of remittance. Overseas income that was earned when a person was not a Thai tax resident will likely not be assessable even when remitted later while they are a tax resident. Some care should be exercised before considering this option: readers may wish to obtain professional tax advice to confirm this point before using this approach.

 

https://taxsummaries.pwc.com/thailand/individual/significant-developments

 

You raise a good point. The last issue of that guide is dated 1 June and there have been no updates since. The author, Mike Lister, last posted on 20 July, almost three months ago and nobody seems to know if/when he will return.

 

The update you mention certainly needs to be made, as I suspect do several others. Perhaps Mods/Admin can either, a) update the guide and repost, b) advise that ML will do so at some future date or c) if the guide has served its purpose and can now be unpinned? FAO @Captain Flack

 

 

 

, 

[Presnock]

1 hour ago, chiang mai said:

You raise a good point. The last issue of that guide is dated 1 June and there have been no updates since. The author, Mike Lister, last posted on 20 July, almost three months ago and nobody seems to know if/when he will return.

 

The update you mention certainly needs to be made, as I suspect do several others. Perhaps Mods/Admin can either, a) update the guide and repost, b) advise that ML will do so at some future date or c) if the guide has served its purpose and can now be unpinned? FAO @Captain Flack

 

 

 

, 

Well it doesn't look like anything will be published anytime soon - guess we need to wait until next month or December of the new tax forms or January next year or 2050 or later when they finish discussing what ever it is they are debating or which ever government happens to be in power sometime.

[Presnock]

30 minutes ago, Presnock said:

Well it doesn't look like anything will be published anytime soon - guess we need to wait until next month or December of the new tax forms or January next year or 2050 or later when they finish discussing what ever it is they are debating or which ever government happens to be in power sometime.

Chiang Mai:  Read the Thai Examiner article dated 15 October 2024: says duirng the 1st three months of 2025 ALL adults in Thailand will be required to file the tax form PND91.  The deputy Finance Minister says that the govt is aiming to bring in expats or foreign residents inThailand into the system. Says that ALL foreign residents in 2025 will be required to file a tax form.  Says that the finance ministry and Revenue dept have been working on this and that it is an URGENT plan as Thailand is already classified as an ageing society.  AM sure this will wake up some folks, and wonder why the AN note was so much tamer and nothing about expats except to say not to worry?

[chiang mai]

9 minutes ago, Presnock said:

Chiang Mai:  Read the Thai Examiner article dated 15 October 2024: says duirng the 1st three months of 2025 ALL adults in Thailand will be required to file the tax form PND91.  The deputy Finance Minister says that the govt is aiming to bring in expats or foreign residents inThailand into the system. Says that ALL foreign residents in 2025 will be required to file a tax form.  Says that the finance ministry and Revenue dept have been working on this and that it is an URGENT plan as Thailand is already classified as an ageing society.  AM sure this will wake up some folks, and wonder why the AN note was so much tamer and nothing about expats except to say not to worry?

It's only a proposal at this stage, there is nothing definite, despite the wording of the article.

 

Changes to the tax system of this magnitude require laws to be debated and passed, it can't be done at the drop of a hat.