Jump to content

Thailand to tax residents’ foreign income irrespective of remittance


Recommended Posts

3 hours ago, Presnock said:

did read that some rich senior folks are not too happy either with these earlier changes to the tax laws.  They are more likely to be affected than the expats, But TIT so no one really knows anything actual yet.

Old folks generally are unhappier and complain more. Nothing to do all day. 

There are no changes to the tax laws and won't be, Imho. 

Pensioners are still expats. 

  • Confused 1
Link to comment
Share on other sites

I really don't know why so many foreigners I know are worried about this scaremongering. Is it all done by accountancy firms, luring gullible readers to be customers?

Maybe it is the ones that haven't been here long and seen all the false rumours before. 

The removal of the loophole affect few foreigners, certainly not those retired guys. 

As for remittances, as a Thai, I can gift 20 million baht a year. I believe foreigners can do the same.

Thailand will not impose taxes on foreign remittances for foreigners because doing so would inadvertently grant foreigners tax rights that the government wants to avoid.

By taxing remittances, the Thai government could create a precedent that allows people to claim certain privileges, such as the ability to purchase property and access public services. This could lead to concerns about foreign ownership and influence within the local economy.

Additionally, remittances play a vital role in the livelihoods of many Thais, including my children, and taxing them could deter financial support from abroad, potentially destabilizing communities that rely on these funds.  The government will maintain a favorable environment for foreign money while safeguarding its own regulatory autonomy.

  • Confused 1
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...