Introduction to Personal Income Tax in Thailand

[Presnock]

7 hours ago, ChaiyaTH said:

Well he is actually right, almost none of the foreign business owners, for example restaurants bars and so on, never paid a dime of tax or minimal fake taxes. Same for all profits on property rentals etc etc etc. 

Thailand has basically made zero effort so far, to even enforce things for what was always applicable already. Let alone the new change to transfers to Thailand while being classed a tax resident, or let alone the fantasy pipe dream of overseas income. 

The country would be half empty in no time, the south would suddenly have property available and hurt property developers. All this while they are under high pressure already in general. 

Do you really think it is a magic trick or accident that the news went silence for so long already? Most of the entire news was all and only due to the new appointed woman boss of the TRD. Now she is in place, she will shut up. This happens all the time with police stations and immigration bureaus as well. Until the dust settles.

 

They might have a tiny chance of success if they allow us to first deduct the private education 100% before having to pay any taxes, if any taxes left. I'd accept a flat 10% not a .25% more + with a 3-5 yearly visa.

Yessir, guess we won't have any more definite ideas of what is to come until the court decision on the PM and party now in charge.  If they drop them and a new election is to be held, then we know that things will all be put on hold for a while.  

[chiang mai]

50 minutes ago, Presnock said:

Yessir, guess we won't have any more definite ideas of what is to come until the court decision on the PM and party now in charge.  If they drop them and a new election is to be held, then we know that things will all be put on hold for a while.  

Does anyone really think that in a best/worst case scenario that the remittance rule might might revert to what it was? I cannot imagine that scenario.

[Presnock]

2 minutes ago, chiang mai said:

Does anyone really think that in a best/worst case scenario that the remittance rule might might revert to what it was? I cannot imagine that scenario.

No, I agree as that has already been "vetted" and approved.  I read on the forum that someone has seen the "new" tax form but in Thai only and are awaiting that in English.  I guess if there are any further changes for expats then maybe some guidance will come shortly  but having to make any new rules, like making all tax residents get a tax ID whether they will ever have assessable income such as my situation so will never have to file a tax form in Thailand, any new rules might not be passed in time so.. who knows remains the case.

[chiang mai]

3 minutes ago, Presnock said:

No, I agree as that has already been "vetted" and approved.  I read on the forum that someone has seen the "new" tax form but in Thai only and are awaiting that in English.  I guess if there are any further changes for expats then maybe some guidance will come shortly  but having to make any new rules, like making all tax residents get a tax ID whether they will ever have assessable income such as my situation so will never have to file a tax form in Thailand, any new rules might not be passed in time so.. who knows remains the case.

By applying the letter of the law (Tax Code), there is probably no need to change the law in the way you have described. 60k baht per year of assessable income is a very very low threshold.