Jump to content

Recommended Posts

Posted
2 minutes ago, redwood1 said:

Tax liability.....Bla bla....Nothing is set in stone with this whole tax train wreck...And every last person or at least 99.9% will be scheming to pay....Zero.....Thats....  0.0

Por 161 and 162, are both set in stone.

  • Like 1
Posted

Thanks very much Chiang Mai.

 

I'm wondering when "tax filing time" next year is ? My inclination is not to rush into tax registration whilst all this is settling down.

 

As these measures progress, I wonder if there will be any recognition that monthly pension payments, particularly private pension payments, do not represent earnings of the previous year as such i.e. they are repayments to me of earnings I made many years previously, in this case, from 1985 to 2008.

 

My 'Retirement Visa' comes up for renewal on 31st January 2025 - I wonder if I will have to be in compliance with a Tax registration, by that stage ?

 

Thanks for your help. It's important because balanced comment on the topic, is hard to find. Hopefully others will have found your answers helpful too. ATB

  • Confused 1
  • Thanks 1
  • Haha 1
Posted
13 minutes ago, TorquayFan said:

Thanks very much Chiang Mai.

 

I'm wondering when "tax filing time" next year is ? My inclination is not to rush into tax registration whilst all this is settling down.

 

As these measures progress, I wonder if there will be any recognition that monthly pension payments, particularly private pension payments, do not represent earnings of the previous year as such i.e. they are repayments to me of earnings I made many years previously, in this case, from 1985 to 2008.

 

My 'Retirement Visa' comes up for renewal on 31st January 2025 - I wonder if I will have to be in compliance with a Tax registration, by that stage ?

 

Thanks for your help. It's important because balanced comment on the topic, is hard to find. Hopefully others will have found your answers helpful too. ATB

Tax filing time is 1 Jan thru 31 mar.

  • Like 1
Posted (edited)
12 minutes ago, chiang mai said:

Tax filing time is 1 Jan thru 31 mar.

 

I would give these dates a maybe in 2026 or 2027 or 2028  with how  messed up it all is...

Edited by redwood1
  • Like 1
  • Confused 1
  • Sad 1
Posted
Just now, redwood1 said:

 

I would give these date a maybe in 2026 or 2027  with how  messed up it all is...

No RW, those dates are the same every year. 

  • Like 1
  • Agree 1
Posted
12 minutes ago, TorquayFan said:

Thanks Chiang Mai - so I wonder if I'll get my Visa renewal without Tax Reg, due Jan 31st ? MMMmmmm

Your visa extension will almost  certainly NOT be affected, next year, but who knows in the future.

  • Love It 1
Posted
1 hour ago, chiang mai said:

 

Quote

Tax liability.....Bla bla....Nothing is set in stone with this whole tax train wreck...And every last person or at least 99.9% will be scheming to pay....Zero.....Thats....  0.0

 

Por 161 and 162, are both set in stone.

 

With respect - they are not law.  

 

One translation (of 161 and 162) is they are "Departmental Instruction" or "Departmental Orders".  Some youtube bloggers (of which I place NO Faith) speculate they could be challenged in court.  One will NOT see me challenging such.

 

Still - I speculate (and speculate is the operative word) that the Thai RD will ultimately want the Thai law amended to incorporate these Departmental instructions/orders. 

 

But that is 'speculation' - where given the changes being talked about - that is just more speculation to add to the pile..

  • Confused 1
  • Thumbs Up 1
  • Agree 1
Posted
1 minute ago, chiang mai said:

Your visa extension will almost  certainly NOT be affected, next year, but who knows in the future.

 

It is interesting and they could link visa extensions to this if there was some massive inter departmental communications.

 

I doubt it will happen but who knows.

For myself I extended my Thailand Elite membership to the full 20 year package last year sometime and as such if I travel once per year I never have to do an extension at all, I just continue to get 1 year entries each time I arrive.
 

I will be in Thailand for a few days this month and I'll get a 1 year entry stamp even though I'm exiting a couple of days later, just a little business to take care of which will see me through until the end of the year.

  • Agree 1
Posted
1 hour ago, chiang mai said:

But the important change that took place last year is the reinterpretation of the overseas remittance rules, that is not a proposal, that is a done deal and has been in effect since 1 January this year. It is that rule change that will force many foreigners in Thailand who are tax residents, and who remit income above a certain level to Thailand each year, to potentially file a tax return.

 

I think that sums it up accurately and concisely.

 

My one question would be to ask what is meant by "to potentially file a tax return." Given the criteria you outline surely these foreigners must file a tax return?

 

And just as a comment on the Integrity Legal video, I'm not a great fan of these videos.The American lawyer seems to know his stuff but he is too impetuous for my taste.I like my legal (and tax) advice to be cool, measured and thoughtful.

  • Like 1
  • Agree 1
Posted
3 minutes ago, jayboy said:

 

I think that sums it up accurately and concisely.

 

My one question would be to ask what is meant by "to potentially file a tax return." Given the criteria you outline surely these foreigners must file a tax return?

 

And just as a comment on the Integrity Legal video, I'm not a great fan of these videos.The American lawyer seems to know his stuff but he is too impetuous for my taste.I like my legal (and tax) advice to be cool, measured and thoughtful.

If you don't have sufficient assessable income during the year, to breach the minimum threshold, no tax return is required.

  • Agree 1
Posted
5 minutes ago, ukrules said:

 

It is interesting and they could link visa extensions to this if there was some massive inter departmental communications.

 

I doubt it will happen but who knows.

For myself I extended my Thailand Elite membership to the full 20 year package last year sometime and as such if I travel once per year I never have to do an extension at all, I just continue to get 1 year entries each time I arrive.
 

I will be in Thailand for a few days this month and I'll get a 1 year entry stamp even though I'm exiting a couple of days later, just a little business to take care of which will see me through until the end of the year.

FWIW I think that linkage is inevitable at some point.

  • Agree 1
Posted (edited)
12 minutes ago, chiang mai said:

Por 161 is a reinterpretation of an existing law, no new law is required. There was speculation one year that it might be challenged in the courts but no challenge has arisen since.

 

yes true ... 161 and 162 are departmental instructions and orders, they are NOT law, but the are the REVENUE DEPARTMENTS interpretation - they are not the Thai courts interpretation.

 

And yes true - no one as of yet wants to challenge the Revenue Department in a court. 

 

I know for 100% certain I would not challenge them. 

 

Rather,  I use 161 and 162 as part of the guidelines in helping me to structure my finances.

Edited by oldcpu
  • Confused 1
  • Thumbs Up 1
  • Agree 1
Posted (edited)
17 minutes ago, chiang mai said:

I'm unclear what the point is of this exchange. The instructions were issued over a year ago and there has been no challenge and we are now nearing the end of the first tax year during which the rules were in effect. I don't see there's much else to be said in this matter, unless people want to grasp at straws that some white night with deep pockets and much influence comes along to challenge the TRD in the courts......at this late stage in the game I wouldn't bet even one satang on that happening.

 

Agreed, ... and 161 and 162 gave some good guidelines on what to do in the remaining months of year 2023 - which my wife and I made full advantage of, bringing a LOT of savings from outside of Thailand, into Thailand before the end of the calendar year 2023.

 

As I noted, 161 and 162 have provided some additional guidelines for one to follow in managing one's finances.

 

I  guess my 'quibble' is that they are not law (ergo not in stone) but rather they are the current not challenged RD interpretation.

Edited by oldcpu
  • Thanks 1
  • Haha 1
Posted
56 minutes ago, oldcpu said:

And yes true - no one as of yet wants to challenge the Revenue Department in a court. 

In order to be challenged TRD should first enforce (audit > penalties) their rules.

  • Agree 2
Posted (edited)
1 hour ago, NoDisplayName said:

 

Most likely would be for immigration to add one more item to the list of requirements when applying for an extension.

 

-   Bank guarantee letter

-   6-month statement

-   Tax clearance certificate or prior year return if tax resident based on in/out stamps in passport.

 

Easy for them.  No interdepartmental communications or software updates necessary.  Just another check box for them to tick off.  And a nice earner for the TRD when local officials realize they can charge 500 baht for a free service.

 

Hopefully a tax clearance certificate will not be required for annual extensions. 

 

I do believe the tax clearance certificate requirement is still on the books (it was once required for exit out of Thailand if one had certain visas), but its enforcement was dropped over a decade ago (maybe dropped much longer ago than that).  so I suppose it could be brought back again if a very strong desire was to do so. 

 

BUT I don't think it is all straight forward ...  If one already has a LOT of savings in Thailand, one could easily go for years and never bring money into the country, and if retired never 'qualify' for a Thai tax ID (an example of this is myself BEFORE when I had a Type-O/OA visa).  Ergo in that case, one who does not have a tax-ID would not nominally qualify for a tax certificate. Or would they?

 

Further, a tax certificate would thou create a bit more work for immigration to have to collect the certificates, and possibly even spend time confirming such certificate is valid via contact with the RD who presumably would issue the certificate.   I suspect immigration (and possibly the RD who have to issue the certificates ??  ) may not want that extra work 

 

...  so lets hope that does not come to pass.

 

Edited by oldcpu
  • Confused 1
  • Love It 1
  • Agree 1
Posted
3 hours ago, TorquayFan said:

 

 

As these measures progress, I wonder if there will be any recognition that monthly pension payments, particularly private pension payments, do not represent earnings of the previous year as such i.e. they are repayments to me of earnings I made many years previously, in this case, from 1985 to 2008.

 

First off, there may be a DTA between your country and Thailand that covers your pension.

 

I should ask if you pay taxes on your pension to your home country (or if you would if you didn't live in Thailand).

 

 

  • Thanks 1
Posted

Hi Dander. No DTA between Thailand and UK. Yes I pay UK tax under self assessment for 15 years, every 6 months. We'll see as to the rest of it.

 

Forewarned is forearmed ! Thanks all.

  • Like 1
  • Confused 2
  • Haha 1
Posted

On the subject of DTAs:

 

We heard months ago that some DTA's were being renegotiated but we haven't heard anything since. Whether that was true or not, I dunno, if it was, it's likely to be a lengthy process. Bottom line is, don't be surprised if you hear that the terms of some DTA's have changed. 

  • Agree 1
Posted

 

Old, NoDisplay and ChiangMai - thanks for the heads up. PwC also list the UK as having DT status although the UK seems missing from some lists.

 

Old - in your earlier post - "Hopefully a tax clearance certificate will not be required for annual extensions".  I hope that proves to be the case for my renewal in January.

 

GLA

 

 

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
  • Recently Browsing   0 members

    • No registered users viewing this page.



  • Topics

  • Latest posts...

    1. 1

      Ellen DeGeneres Relocates to the U.K. After Trump’s Election Win

    2. 8

      Putin has vanished

    3. 1

      Ellen DeGeneres Relocates to the U.K. After Trump’s Election Win

    4. 0

      Shocking Online Threats: Trans Woman Targets JK Rowling and Nancy Mace in Call to Violence

    5. 0

      Europe Braces for Escalation: Germany Mobilizes NATO Troops Amid Putin's Nuclear Threats

    6. 0

      UK Parliament to Summon Elon Musk Over X’s Role in Social Media Controversies

    7. 0

      Jeremy Clarkson: Britain’s Unlikely Trump?

    8. 0

      Morning Joe Ratings Plummet After Hosts' Meeting With Trump at Mar-a-Lago

  • Popular in The Pub


×
×
  • Create New...