1 hour ago, The Cyclist said:

Canada, pop 40 million, taxpayers 29 million

 

Thailand, pop 75 million, taxpayers 4 million.

 

Something is drastically wrong, and the most likely answer is tax avoidance / evasion.

 

Since when was Canada a third-world developing economy based on subsistence rice farming?

29 minutes ago, NoDisplayName said:

 

Since when was Canada a third-world developing economy based on subsistence rice farming?

Perhaps you are not aware of Thailands Aim and objective of becoming  a high income Country by 2037.

 

Quote

Reducing emissions and adapting to climate change are therefore critical to Thailand’s continued growth and development, and its ability to meet its objective of becoming a high-income country by 2037.

 

https://www.worldbank.org/en/country/thailand/overview

 

One of the way to achieving that is by investment, that investment requires more taxation than Thailand currently raises.

 

But you carry on thinking that changes are not going to come.

 

 

12 minutes ago, The Cyclist said:

Perhaps you are not aware of Thailands Aim and objective of becoming  a high income Country by 2037.

 

Bwahhahhahahahaaaaaaaaaaaaaaaaa!!!!

 

Hub of High Income©

 

13 minutes ago, The Cyclist said:

One of the way to achieving that is by investment, that investment requires more taxation than Thailand currently raises.

 

Bwahhahhahahahaaaaaaaaaaaaaaaaa!!!!

 

Hub of Taxing Ourselves into Prosperity©

Today new Bkk Post article on taxation with lots of details

 

https://www.bangkokpost.com/business/general/3041421/new-approach-to-overseas-income-aims-to-spur-inflows

 

 

 

2 hours ago, K2938 said:

Today new Bkk Post article on taxation with lots of details

 

https://www.bangkokpost.com/business/general/3041421/new-approach-to-overseas-income-aims-to-spur-inflows

 

 

 

Looks like they have noticed a sharp decline in remittances.  Who would have though? 

42 minutes ago, KhunHeineken said:

Looks like they have noticed a sharp decline in remittances.  Who would have though? 

 

Everyone with critical thinking skills understood THAT unintended consequence. 

 

1 hour ago, KhunHeineken said:

Looks like they have noticed a sharp decline in remittances.  Who would have though? 

 

but that sharp drop in remittances (i haven't seen any actual numbers or facts) is probably not because of us foreigners who, due to the "adjusted tax law," are supposedly sending less money to thailand ...

 

i rather suspect, if the claim is even true,  that it's thais (companies, etc.) who have stopped transferring money into thailand

...

 

or maybe this whole new thing is just a temporary (2-year) distraction to give certain influential thais more time to continue their illegal activities ...

 

in all this chaos and with the changing tax laws, everyone is losing track... and nobody knows what rules will even apply in the coming years... what a hopeless banana republic!

5 hours ago, K2938 said:

Today new Bkk Post article on taxation with lots of details

 

https://www.bangkokpost.com/business/general/3041421/new-approach-to-overseas-income-aims-to-spur-inflows

 

 

 

well itis clear as mud - seems like the same BS spread over and over that we saw with lots of comments last month.  Still where is the final "gazette published" changes which means it has been approved by all?

2 minutes ago, Presnock said:

well itis clear as mud - seems like the same BS spread over and over that we saw with lots of comments last month.  Still where is the final "gazette published" changes which means it has been approved by all?

Two articles published on the same topic means the probability is rising😊

15 minutes ago, K2938 said:

Two articles published on the same topic means the probability is rising😊

 

lol.  or one article just copied the other in order to show the 'reporter' is doing some work.

16 hours ago, K2938 said:

Two articles published on the same topic means the probability is rising😊

how many articles on a draft plan to do this or that have there been over the past 2 years?

On 6/4/2025 at 3:53 PM, Presnock said:

well itis clear as mud - seems like the same BS spread over and over that we saw with lots of comments last month.  Still where is the final "gazette published" changes which means it has been approved by all?

notice the same article today in Thaiexaminer.  Note also that they are trying to finish this one before the end of the year. Last comment is telling IMHO -  "opens a two-year window of opportunity but it won't stay open forever".  Expats/foreigners mentioned often in this version as they explain that the Thai revenue department needs a lot of funds.

36 minutes ago, Presnock said:

Expats/foreigners mentioned often in this version as they explain that the Thai revenue department needs a lot of funds.

 

i do believe that the average foreigner doesn't transfer that much money to thailand, since for most people, around 500,000 thb is "tax-free" anyway, and there is also the TDA. the exceptions, of course, are foreigners (maybe more than 10,000 per year?) who like to buy land, houses, or condos, those need transfer larger amounts ...  it also looks like most foreigners ignored the new tax regulation (from 2024) and didn't reduce their yearly transfers ... so no impact ...

 

i think the real reason the flow of (big) money from abroad has dropped is because wealthy thais, companies, and others (chinese?) can no longer take advantage of this loophole in the tax system , and not because of us foreigners who just want to enjoy our pensions here ...

 

3 hours ago, motdaeng said:

 

i do believe that the average foreigner doesn't transfer that much money to thailand, since for most people, around 500,000 thb is "tax-free" anyway, and there is also the TDA. the exceptions, of course, are foreigners (maybe more than 10,000 per year?) who like to buy land, houses, or condos, those need transfer larger amounts ...  it also looks like most foreigners ignored the new tax regulation (from 2024) and didn't reduce their yearly transfers ... so no impact ...

 

i think the real reason the flow of (big) money from abroad has dropped is because wealthy thais, companies, and others (chinese?) can no longer take advantage of this loophole in the tax system , and not because of us foreigners who just want to enjoy our pensions here ...

 

Well IMHO, with many expats holding out on remitting large amounts of funds to purchase cars or condos plus many expats didn't bring in as much as they normally do so when the coffers are short 25 billion baht by Sept, the govt really needs money and they say that they are doing this as a Royal Decree hopefully by the end of the year, hoping to get this year and next year's earnings brought in for consumption plus VAT as the RD won't be getting income tax from this but like the article said, the window of opportunity won't be open forever.  One can believe that the RD will be looking at the amount of monies brought in "tax free" and then watching if they close this window and the money doesn't come in then they will probably begin auditing...but I sure have no idea what the final will look like nor how long it will last nor will it affect me in any case.

On 4/6/2024 at 10:06 AM, Mike Lister said:

 

 

TAX FORMS AND FILING 

 

91) The TRD  tax filing system is on-line but only available in Thai language at present. The tax forms are however available in English and they can be downloaded from the link below. 

 

https://www.rd.go.th/english/65308.html 

 

92) Tax returns must be filed between 1 January and 31 March each year, if you file later than that, penalties will apply. Tax filing is electronic or paper based. The TRD e-filing link below lists TRD agents around the country who are authorised to file returns for customers, if required.

 

93) Completing a tax return is not complicated for most people, if you have difficulty, the Revenue Department staff are extremely helpful. If you want to file electronically, you should ask the TRD office to set up your on-line account and show you how to use the system. If you are not fluent in Thai it may help to take somebody with you who is. If you want to try doing this yourself at home, the TRD e-filing site is where you can apply for an e-filing account, submit forms and also practise using the system. 

 

https://efiling.rd.go.th/rd-cms/ 

 

 

 

My new employer has not been deducting any tax so far from my paychecks, although they are currently paying cash, if I physically go to the tax office to file in January, what documents would I need to bring?

On 5/27/2025 at 4:17 PM, The Cyclist said:

Something is drastically wrong, and the most likely answer is tax avoidance / evasion.

Or, more likely, a totally different economic and tax system! 

I dont know if members are still following this thread.

However, I read the following on the PWC website, last reviewed 02 February 2026.

Under the heading "Thailand" "Individual-Income determination".

Then "Capital gains"

Quote: "Capital gains and investment income earned by a resident from sources outside Thailand are not taxable unless remitted to Thailand in the year of receipt".

Is that correct?

18 minutes ago, potless said:

I dont know if members are still following this thread.

However, I read the following on the PWC website, last reviewed 02 February 2026.

Under the heading "Thailand" "Individual-Income determination".

Then "Capital gains"

Quote: "Capital gains and investment income earned by a resident from sources outside Thailand are not taxable unless remitted to Thailand in the year of receipt".

Is that correct?

I am no tax advisor, so listen to others as well ... but my understanding is the answer is NO. It is not correct. Its more complex. First let me assume you are referring to a Thailand tax resident (ie > ~182 days per calendar (tax) year in Thailand).

Assuming no other factors, i believe in addition to the Thaliand Income Tax laws, the relevant Ministerial directives providing clarification are PAW.161/162. A key date there, in regards to those Ministerial directives is 1-Jan-2024.

Note also, Double Tax Agreement (DTA) with the source country of the capital gain may make the remitted funds not taxable in Thailand.

Further for some, the LTR-WP and LTR-WGC visas are a factor, making such remitted funds not taxable in Thailand.

Edited June 2Jun 2 by oldcpu

1 hour ago, potless said:

I dont know if members are still following this thread.

However, I read the following on the PWC website, last reviewed 02 February 2026.

Under the heading "Thailand" "Individual-Income determination".

Then "Capital gains"

Quote: "Capital gains and investment income earned by a resident from sources outside Thailand are not taxable unless remitted to Thailand in the year of receipt".

Is that correct?

Perhaps some wiser heads can clarify this anomaly for me:

• I've heard from Expat Tax Thailand on numerous occasions that only Bank Account Savings held in an overseas Account as at 31/12/2023 may be remitted into Thailand TAX FREE after that date

• We now hear advice that, if the proceeds on disposal of investments held prior to January 2024 are remitted into Thailand that any amounts that exceed the original investment will be subject to CGT on the excess

If only Bank Savings can be remitted Tax Free, surely the actual amount of (say) the total proceeds from sale of equities held before January 2024 maybe subject to Income Tax whether or not those shares were sold for (a) an increased amount ie. a profit; (b) the same amount as the initial investment; or © at a loss [bear in mind Income Tax and CGT attract the same rate/treatment

Hoping to be enlightened!

1 hour ago, oldcpu said:

First let me assume you are referring to a Thailand tax resident (ie > ~182 days per calendar (tax) year in Thailand).

You become a Thai tax resident for a calendar year in Thailand by spending 180 days or more in Thailand.

Edited June 2Jun 2 by 10000Baht

26 minutes ago, dinga said:

I've heard from Expat Tax Thailand on numerous occasions that only Bank Account Savings held in an overseas Account as at 31/12/2023 may be remitted into Thailand TAX FREE after that date

That is still open to debate/scrutiny.

Other commentators claim any pre 1/1/2024 assets can be remitted tax free, not just cash in the bank.

1 minute ago, treetops said:

That is still open to debate/scrutiny.

Other commentators claim any pre 1/1/2024 assets can be remitted tax free, not just cash in the bank.

1 minute ago, treetops said:

That is still open to debate/scrutiny.

Other commentators claim any pre 1/1/2024 assets can be remitted tax free, not just cash in the bank.

Thanks - gotta say the ETT advice is illogical to say the least

2 hours ago, oldcpu said:

I am no tax advisor, so listen to others as well ... but my understanding is the answer is NO. It is not correct.

Thanks for your reply. It seemed incorrect to me. I felt obliged to query it because that website said it was reviewed in Feb 2026. The same statement appeared on another website "university.heavnn.io" . On that particular website there was a facility to send them a message so I queried their statement last week. No reply yet. It was a link on that website that led me to the PWC website. That link has mysteriously stopped working. It seems to me that one website wrote the article and another copied it. Perhaps the message got through although the statement is still there on both websites.

1 hour ago, dinga said:

Perhaps some wiser heads can clarify this anomaly for me:

• I've heard from Expat Tax Thailand on numerous occasions that only Bank Account Savings held in an overseas Account as at 31/12/2023 may be remitted into Thailand TAX FREE after that date

In general, yes, that is sort of 'consistent' with PAW.161/162. However the word "only" is highly misleading, there are thou nuances, making it a bit more complex than that as DTAs and LTR visa, and also residency aspects come into play.

1 hour ago, dinga said:

• We now hear advice that, if the proceeds on disposal of investments held prior to January 2024 are remitted into Thailand that any amounts that exceed the original investment will be subject to CGT on the excess

Your wording confuses me.

If one has say $10,000 in cash on 30-Dec-2023, and on that date buys $10,000 worth of stock. Then on 2-June-2026 sells that for $12,000 - giving a $2,000 profit. My thinking is that only $2,000 'might' be taxable if remitted to Thailand if the $12,000 brought into Thailand. My view is the original $10,000 which was savings BEFORE 1-Jan-2024 (used to buy the original stock) would not nominally be taxable per PAW.161/162 even if brought into Thailand. Further, dependent on various DTA and one's Visa (LTR-WP or LTR-WGC) the $2,000 profit may or may not be taxable in Thailand.

Again - this is my view - lets see what other's say.

1 hour ago, dinga said:

If only Bank Savings can be remitted Tax Free, surely the actual amount of (say) the total proceeds from sale of equities held before January 2024 maybe subject to Income Tax whether or not those shares were sold for (a) an increased amount ie. a profit; (b) the same amount as the initial investment; or © at a loss [bear in mind Income Tax and CGT attract the same rate/treatment

Again, it depends on tax residency, the relevant DTA with the income source country , on the type of one's Visa. There may be other factors I am not aware of.

Edited June 2Jun 2 by oldcpu

On 6/6/2025 at 11:34 AM, Presnock said:

Well IMHO, with many expats holding out on remitting large amounts of funds to purchase cars or condos plus many expats didn't bring in as much as they normally do so when the coffers are short 25 billion baht by Sept, the govt really needs money and they say that they are doing this as a Royal Decree hopefully by the end of the year, hoping to get this year and next year's earnings brought in for consumption plus VAT as the RD won't be getting income tax from this but like the article said, the window of opportunity won't be open forever.  One can believe that the RD will be looking at the amount of monies brought in "tax free" and then watching if they close this window and the money doesn't come in then they will probably begin auditing...but I sure have no idea what the final will look like nor how long it will last nor will it affect me in any case.

none of this I am writing is confirmed nor in press that I know of but, i queried AI about the OECD membership status for Thailand and what it could mean. The process currently under study is to meet the OECD requirements 2028-2030 to obtain membership. In 2027 the plan is to implement the negative income tax scheme for ALL Thai tax residents requiring them to (expats too if tax residents) to file tax forms whether tax owed or not with full income reported (potential for tax liability in the future) so ALL will need to obtain a Thai tax ID number except for LTR visa holders (unless that LTR is also earning funds in Thailand. Even Thai students (age not yet decided, under consideration) as one making under the minimum amount could get funds from those making more than whatever amount is decided (except foreigners cannot get any funds from the government in this scheme). DTA'a will remain in effect so certain income will remain non-taxable in Thailand. As I mentioned earlier, none of this is guaranteed to happen as it is currently under consideration while the government is making moves to meet the OECD requirements and some changes may also apply to funds remitted to Thailand from overseas earned income. One can read this same information or more by googling "OECD moves of Thailand". Best of luck to all.

6 minutes ago, Presnock said:

none of this I am writing is confirmed nor in press that I know of but, i queried AI about the OECD membership status for Thailand and what it could mean.

I think you will find the AI made a mistake.

There is no OECD membership requirement that every person (say above some age such as age-18 to age-99) in an OCED country is required to file a tax return to their OECD country of tax residency. None. Individual country requirements come into play instead.

I suspect if you pushed back to the AI, selectively challenging specific points in that AI assessment, the AI would produce a different assessment.

AI can be highly useful in quick research, but because of it constantly conflating, it can often give wrong answers.

Never-the-less, this is an area of interest and relevance to many of us.

Edited June 2Jun 2 by oldcpu

6 minutes ago, Presnock said:

In 2027 the plan is to implement the negative income tax scheme for ALL Thai tax residents requiring them to (expats too if tax residents) to file tax forms whether tax owed or not with full income reported (potential for tax liability in the future) so ALL will need to obtain a Thai tax ID

So you have quoted a year old post of yours and then slipped in .......

7 minutes ago, Presnock said:

i queried AI about the OECD membership status for Thailand and what it could mean.

This was something that was mooted last year some time and then seemed to go away. Not saying it won't come to pass but Anutin seems determined to push for 2028 membership even though the initial agreed target with the OECD was 2030 so I guess anything could happen.

However I have not seen, nor can I find, any update on a "negative income tax scheme'". I also do not believe that is a precursor to OECD membership.

Edit - @oldcpu beat me to it.

1 hour ago, dinga said:

1. I've heard from Expat Tax Thailand on numerous occasions that only Bank Account Savings held in an overseas Account as at 31/12/2023 may be remitted into Thailand TAX FREE after that date

2. We now hear advice that, if the proceeds on disposal of investments held prior to January 2024 are remitted into Thailand that any amounts that exceed the original investment will be subject to CGT on the excess

Regarding paragraph 2, where did you hear that advice? I am certainly no expert. Are you saying that you liquidated investments prior to 31/12/23 and then parked the money in a bank account?

If that is the case, I would suggest that the money is classified as cash savings. The Thai Revenue Department has stated that cash savings held prior to 1st January 2024 may be remitted with no tax payable. If investments are liquidated after 1st January 2024, any money from that source remitted to Thailand will be subject to a capital gains tax calculation, irrespective of the date of investment.

People may have been investing for 20,30,or 40 years. Swapping for cash if they were getting nervous and then reinvesting at different times. Not easy to pinpoint sources of funds over a long period of time as funds are in effect comingled. Paperwork nightmare.

That is not a one size fits all scenario as old cpu correctly says. Keep all paperwork.

Others may have a different assessment of course.

Edited June 2Jun 2 by potless
added a sentence

5 minutes ago, potless said:

Regarding paragraph 2, where did you hear that advice? I am certainly no expert. Are you saying that you liquidated investments prior to 31/12/23 and then parked the money in a bank account?

If that is the case, I would suggest that the money is classified as cash savings. The Thai Revenue Department has stated that cash savings held prior to 1st January 2024 may be remitted with no tax payable. If investments are liquidated after 1st January 2024, any money from that source remitted to Thailand will be subject to a capital gains tax calculation, irrespective of the date of investment.

People may have been investing for 20,30,or 40 years. Swapping for cash if they were getting nervous and then reinvesting at different times. Not easy to pinpoint sources of funds over a long period of time as funds are in effect comingled. Paperwork nightmare.

That is not a one size fits all scenario as old cpu correctly says. Keep all paperwork.

To be clearer - For the example, I'm talking about equity investments made before January 2024 but liquidated thereafter with the proceeds remitted into Thailand. Your (and "oldcpu's") view is logical to me, but it is contrary to my understanding of ETT's advice that the savings exemption is limited to Bank Account balances only.

13 minutes ago, dinga said:

To be clearer - For the example, I'm talking about equity investments made before January 2024 but liquidated thereafter with the proceeds remitted into Thailand. Your (and "oldcpu's") view is logical to me, but it is contrary to my understanding of ETT's advice that the savings exemption is limited to Bank Account balances only.

As I understand it, equity investments are not classified as savings by the TRD in the same way as cash is. A different beast. Thus no concessions.