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Thailand to tax residents’ foreign income irrespective of remittance

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1 hour ago, Talon said:

 

Anything is possible. If it keeps going like it's going, that may very well be the way to do it.

 

BUT, if your Thailand tax return becomes part of the visa renewal process, that may be different from office to office also.

Not really a solution I think as TRD can show up years later and demand taxes. The risk will always be there but then tit likely that nothing at all will happen.

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  • John Drake
    John Drake

    It was slowly at first, but now more and more people are coming to understand that:   Prayuth was better.

  • That seems totally unworkable  crazy and unjust !

  • If Thailand taxes on a worldwide basis, there will be a mass exodus of expats.

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17 minutes ago, stat said:

Not really a solution I think as TRD can show up years later and demand taxes. The risk will always be there but then tit likely that nothing at all will happen.

 

All true, stat.  TIT.

 

What happens for you or me today, may not happen for either of us -- or anyone else -- tomorrow or the next day or next week.

10 minutes ago, Talon said:

What happens for you or me today, may not happen for either of us -- or anyone else -- tomorrow or the next day or next week.

 

OR  ... What happens for you or me today, may not happen for either to all of us -- and anyone else -- tomorrow or the next day or next week or in a few years ... :smile:

6 minutes ago, motdaeng said:

 

OR  ... What happens for you or me today, may not happen for either to all of us -- and anyone else -- tomorrow or the next day or next week or in a few years ... :smile:

 

Yes, an infinite number of results possible -- even for two different foreigners in the same place at the same time. 🤣

1 hour ago, stat said:

Not really a solution I think as TRD can show up years later and demand taxes. The risk will always be there but then tit likely that nothing at all will happen.

 

Hey just wait for the statute of limitations to run out....Someone can leave the country the day before they are due to be charged in court and come back the day after the statute of limitations expire...100% Scott free, with all charges dropped.....

26 minutes ago, redwood1 said:

 

Hey just wait for the statute of limitations to run out....

 

Does Thailand even have a statute of limitations on their laws?

6 minutes ago, Talon said:

 

Does Thailand even have a statute of limitations on their laws?

Yes, each are different 

1 hour ago, Talon said:

 

All true, stat.  TIT.

 

What happens for you or me today, may not happen for either of us -- or anyone else -- tomorrow or the next day or next week.

We all may die suddenly overnight so enjoy each day if and when it comes!!!

 

1 hour ago, Talon said:

 

Does Thailand even have a statute of limitations on their laws?

 

 

I guess you have not been keeping up with the Tak Bai massacre case.....Every one of those charged conveniently left the country and missed their court dates.....And all are free men now because of the statute of limitations...

13 hours ago, Danderman123 said:

This board should be filled with questions from people who are filing for the first time

Why?

9 hours ago, scottiejohn said:

Why?

Next March is the filing deadline for 2024 Thai taxes. So, at that time, there should be lots of posts here about filing procedures, from people filing for the first time.

 

To clarify:

 

This year, I am traveling and will have been in Thailand less than 179 days by December 31.

 

I will start next year abroad, but if this tax thing looks to be a non-event, I will return to Thailand. So, I will be looking for signs of whether the tax regulations are effective.

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7 hours ago, Danderman123 said:

Next March is the filing deadline for 2024 Thai taxes. So, at that time, there should be lots of posts here about filing procedures, from people filing for the first time.

 

Do not worry about 2024, the rules are the same as previous years. Tax-year 2025, filing March 2026 is the first year with changes.

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13 minutes ago, tomkenet said:

Do not worry about 2024, the rules are the same as previous years. Tax-year 2025, filing March 2026 is the first year with changes.

2024 is the first year when a remittance based taxation will be used so we will see changes in the filings.

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14 minutes ago, stat said:

2024 is the first year when a remittance based taxation will be used so we will see changes in the filings.

Thailand has for many years had remittance tax on foreign assessable income if remitted the same year as the income was gained. 

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1 hour ago, tomkenet said:

Thailand has for many years had remittance tax on foreign assessable income if remitted the same year as the income was gained. 

I think you can spot the difference yourself! Now all remitted income is taxable and beforehand no one controlled or paid taxes on remitted income simply claiming it was from a different year. You are the only one in this forum claiming that no changes have happened in the tax year 2024. Why do you think there are hundreds of pages of discussion on this topic?

 

Come again what will change exactly in 2025? There have been only rumours on ww taxation and no changes have been announced, so the chances are close to zero that something will change in 2025 as it would take a change in law ratified by parliament and announced in the royal gazette in the next 9 weeks.

I have not been keeping up, sorry...

 

Has it been decided yet if worldwide income is taxable no matter where it is earned or held? Or are we still just guessing?

2 hours ago, tomkenet said:

Do not worry about 2024, the rules are the same as previous years. Tax-year 2025, filing March 2026 is the first year with changes.

Are you sure about that?

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16 minutes ago, JimTripper said:

I have not been keeping up, sorry...

 

Has it been decided yet if worldwide income is taxable no matter where it is earned or held? Or are we still just guessing?

 

As I understand it WWIT is only being discussed; but people are preparing.

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23 minutes ago, stat said:

I think you can spot the difference yourself! Now all remitted income is taxable and beforehand no one controlled or paid taxes on remitted income simply claiming it was from a different year. You are the only one in this forum claiming that no changes have happened in the tax year 2024. Why do you think there are hundreds of pages of discussion on this topic?

 

Come again what will change exactly in 2025? There have been only rumours on ww taxation and no changes have been announced, so the chances are close to zero that something will change in 2025 as it would take a change in law ratified by parliament and announced in the royal gazette in the next 9 weeks.

2025 tax year is the first year you can not remit income from the previous year (2024) tax exempt. 

 

In 2024 you can remit income from the previous year tax exempt, just like you could before the change last year .

 

Remitting income the same year as earned has always been taxable.

 

 

17 minutes ago, Talon said:

As I understand it WWIT is only being discussed; but people are preparing.

Can they tax retroactively, or only after it's decided for certain?

1 minute ago, JimTripper said:

Can they tax retroactively, or only after it's decided for certain?

 

They can word the new laws however they wish. I doubt that it will be retroactive (I'd say odds are against it), but nothing guarantees that.

Hence, planning is taking place.

7 minutes ago, Talon said:

They can word the new laws however they wish. I doubt that it will be retroactive (I'd say odds are against it), but nothing guarantees that.

Hence, planning is taking place.

Thanks, man. I don't need to read the whole thread now.

57 minutes ago, stat said:

I think you can spot the difference yourself! Now all remitted income is taxable and beforehand no one controlled or paid taxes on remitted income simply claiming it was from a different year.

 

Correct, but actually / in reality, no one actually even claimed it was from a different year, no one needed to, as there has never been any enforcement. 

 

Currently, there's no indication 2025 will be any different. It's likely that almost all foreign income remitted will remain undeclared (regardless of year earned), as it has done for many, many years. 

 

 

 

57 minutes ago, stat said:

 

 

Come again what will change exactly in 2025? There have been only rumours on ww taxation and no changes have been announced, so the chances are close to zero that something will change in 2025 as it would take a change in law ratified by parliament and announced in the royal gazette in the next 9 weeks.

 

Agreed, absolutely nothing will change in 2025 regarding worldwide taxation. 

 

 

1 hour ago, JimTripper said:

I have not been keeping up, sorry...

 

Has it been decided yet if worldwide income is taxable no matter where it is earned or held? Or are we still just guessing?

Worldwide income tax (irrespective of remittance) is still in the planning. With no more news about this I find it very hard to believe it can be implemented for the 2025 tax year.

This is a big change compared to last years change and will probably need long time to be finalised. I even doubt it will come before 2026.

2 hours ago, anrcaccount said:

Correct, but actually / in reality, no one actually even claimed it was from a different year, no one needed to, as there has never been any enforcement. 

 

Currently, there's no indication 2025 will be any different. It's likely that almost all foreign income remitted will remain undeclared (regardless of year earned), as it has done for many, many years. 

 

That may be true, or it may not, maybe that's why they are pushing for WW income, because remittance tracking would be a pain in the butt to deal with. Which might be why foreigners are being sent away when looking to get a TIN for 2025 taxes.

4 hours ago, stat said:

You are the only one in this forum claiming that no changes have happened in the tax year 2024. 

No, some (few) other posters have pointed this out, too.

 

3 hours ago, anrcaccount said:

no one actually even claimed it was from a different year, no one needed to, as there has never been any enforcement

This may change in 2025. But that's really just guessing. Nobody knows.

I have applied for a Thai Tax Identification Number paying for the assistance of a legal firm, and all of my friends are telling me not to be silly as nothing will happen. I live on my pension transferred over every month from my UK bank account, and I have already paid tax on my pension in the UK so I am hopeful that when I can prove that in my tax return in Thailand they will be clear that I do not need to pay more tax here in Thailand. Time will tell. 

On 10/28/2024 at 3:13 PM, norbra said:

Do I QUALIFY for a TIN?

That should be your question?

Many Posters have indicated that their applications have been rejected as they don't meet the requirements 

No! Give me a TIN please should be the only thing that needs to be said, no 20 questions games with variable answers based on the phase of the moon

 

Actually, thinking more about this, if you're not smart enough to get yourself a TIN, you deserve what happens to you later and you probably shouldn't even contemplate living in Thailand.

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