banglay Posted May 19 Share Posted May 19 Hi Here is the UK/THAILAND DOUBLE TAXATION CONVENTION SIGNED 18 FEBRUARY 1981 check out the pdf if you are worried uk-thailand-dtc180281_-_in_force.pdf 1 Link to comment Share on other sites More sharing options...
Pattaya57 Posted May 19 Share Posted May 19 (edited) Good thing they have a finance sub-forum flooded with these Thai tax threads 😆 https://aseannow.com/forum/13-jobs-economy-banking-business-investments/ Edited May 19 by Pattaya57 1 Link to comment Share on other sites More sharing options...
banglay Posted May 19 Author Share Posted May 19 1 minute ago, Pattaya57 said: Good thing they have a finance sub-forum flooded with these same tax threads 😆 https://aseannow.com/forum/13-jobs-economy-banking-business-investments/ Sorry for trying to help local expats in this area who might not have the time to check out ALL of the forums on here 🙂🙏 2 2 Link to comment Share on other sites More sharing options...
1FinickyOne Posted May 19 Share Posted May 19 2 minutes ago, banglay said: Sorry for trying to help local expats in this area who might not have the time to check out ALL of the forums on here 🙂🙏 And as many, are confused by what they read... 1 1 Link to comment Share on other sites More sharing options...
freeworld Posted May 19 Share Posted May 19 Was not long ago one hardly heard anything about tax and people just went on with their lives. Nowadays with the internet, it seems to infest every discussion daily. 1 Link to comment Share on other sites More sharing options...
Popular Post 0ffshore360 Posted May 19 Popular Post Share Posted May 19 3 minutes ago, freeworld said: Was not long ago one hardly heard anything about tax and people just went on with their lives. Nowadays with the internet, it seems to infest every discussion daily. I would like to understand how or why regular infusions of foreign currency by expats on long term visas of any kind other than work visas should be considered more taxable than an affluent tourist who extends visa status for months and who potentially spends more per day but less by duration of stay? Every form of foreign currency that enters Thai is a 100% gain and yet becomes a target for taxable consideration. Encourage "digital nomad" commerce then strip the suckers too ! The backlash may be costly ! 1 2 Link to comment Share on other sites More sharing options...
Popular Post Mike Teavee Posted May 19 Popular Post Share Posted May 19 (edited) 11 minutes ago, 0ffshore360 said: I would like to understand how or why regular infusions of foreign currency by expats on long term visas of any kind other than work visas should be considered more taxable than an affluent tourist who extends visa status for months and who potentially spends more per day but less by duration of stay? Every form of foreign currency that enters Thai is a 100% gain and yet becomes a target for taxable consideration. Encourage "digital nomad" commerce then strip the suckers too ! The backlash may be costly ! Anybody who spends > 179 days in a calendar/tax year in Thailand is Tax Resident & potentially liable for Tax on money they've remitted so a Wealthy Tourist spending 6 months would be liable for Tax & a Non-IMM O Holder only spending 5 months would not, the Visa you have doesn't matter except for an exemption for some LTR Visa holders. I believe the change was aimed more at Thais using the "1 year rule" to make money overseas & bring it back tax free & us Expats have been caught up in it, but the net result for Thailand is going to be negative in my case as:- I'll only be remitting approx. 25% of what I normally remit (to stay under the amount where I would have to pay tax) & spending down savings I already have here. I'll be taking more holidays outside of Thailand reducing the amount of money I spend in-country so Thai hotels, bars, restaurants, tour companies etc... will lose custom. Edited May 19 by Mike Teavee 1 1 2 Link to comment Share on other sites More sharing options...
0ffshore360 Posted May 19 Share Posted May 19 7 minutes ago, Mike Teavee said: Anybody who spends > 179 days in a calendar/tax year in Thailand is Tax Resident & potentially liable for Tax on money they've remitted so a Wealthy Tourist spending 6 months would be liable for Tax & a Non-IMM O Holder only spending 5 months would not, the Visa you have doesn't matter except for an exemption for some LTR Visa holders. I believe the change was aimed more at Thais using the "1 year rule" to make money overseas & bring it back tax free & us Expats have been caught up in it, but the net result for Thailand is going to be negative in my case as:- I'll only be remitting approx. 25% of what I normally remit (to stay under the amount where I would have to pay tax) & spending down savings I already have here. I'll be taking more holidays outside of Thailand reducing the amount of money I spend in-country so Thai hotels, bars, restaurants, tour companies etc... will lose custom. That confirms my understanding of the overall situation. I can envisage and predict avoidance schemes will proliferate via some quickly apparent venues that will be legal at face value. 1 Link to comment Share on other sites More sharing options...
Mike Lister Posted May 19 Share Posted May 19 I am certain that the op is trying to be helpful by creating this thread but the reality is we have more tax threads than we need at the stage so some rationalisation is inevitable. The main tax thread is linked below, this thread will be closed. Link to comment Share on other sites More sharing options...
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