Government Policy?

[Robin]

Have here been any hints or theories as to the ne Government's policy of the idea to tax inward remittances for  tax residents?

[topt]

4 hours ago, Robin said:

Have here been any hints or theories as to the ne Government's policy of the idea to tax inward remittances for  tax residents?

 

There are only about half a dozen tax threads open that you could look at or post your question in.....

If you are a tax resident, spend more than 180 days a year in Thailand, and you remit assessable income above a certain level you are supposed to report and pay anything due......Up to you.....

Perhaps you should read this -

 

[OJAS]

On 8/24/2024 at 11:43 AM, Robin said:

Have here been any hints or theories as to the ne Government's policy of the idea to tax inward remittances for  tax residents?

 

A suitably reliable crystal ball would, of course, provide an instant answer to your question. Alas, however, none seem to be available on Lazada. ☹️

[OJAS]

22 hours ago, topt said:

 

There are only about half a dozen tax threads open that you could look at or post your question in.....

If you are a tax resident, spend more than 180 days a year in Thailand, and you remit assessable income above a certain level you are supposed to report and pay anything due......Up to you.....

Perhaps you should read this -

 

 

Strongly suspect that the OP may be secretly hoping for the recent changes at the governmental level to lead to a complete change of heart on the whole taxation issue???

 

[connda]

What I want to know is why you people are so compulsively infatuated with the taxation which is yet to be clearly articulated and placed into law by the Thai government.  Chill out and wait.  The average expat over 65 probably isn't going to be affected other than perhaps being forced to go file a tax return and claw back all the withholding taken out of your bank account interest. And maybe not even that.
My suggestion is to simply chill and wait to see what 2025 brings.  Then worry about it if you need to and plan accordingly.

[connda]

1 hour ago, OJAS said:

 

A suitably reliable crystal ball would, of course, provide an instant answer to your question. Alas, however, none seem to be available on Lazada. ☹️

Sure they do! 

https://www.lazada.co.th/products/black-8-magic-i3703090650-s14014371689.html

[novacova]

On 8/24/2024 at 11:43 AM, Robin said:

Have here been any hints or theories as to the ne Government's policy of the idea to tax inward remittances for  tax residents?

Are you generating income in TH? No? Then don’t worry about it. 

[novacova]

7 minutes ago, connda said:

What I want to know is why you people are so compulsively infatuated with the taxation which is yet to be clearly articulated and placed into law by the Thai government.

Because some thrive on fear mongering and the effects of it.

[chiang mai]

7 minutes ago, connda said:

What I want to know is why you people are so compulsively infatuated with the taxation which is yet to be clearly articulated and placed into law by the Thai government.  Chill out and wait.  The average expat over 65 probably isn't going to be affected other than perhaps being forced to go file a tax return and claw back all the withholding taken out of your bank account interest. And maybe not even that.
My suggestion is to simply chill and wait to see what 2025 brings.  Then worry about it if you need to and plan accordingly.

The changes to the tax law are already legal and in force, nothing further is required. There is no new law, only a reinterpretation of an existing law hence it does not need to appear in the  Gazette.

 

The requirements have been articulated by almost every tax advisory service, the TRD in the form of the Revenue Code, various meetings across the country involving TRD and various embassies, etc etc etc.

[timendres]

47 minutes ago, chiang mai said:

The changes to the tax law are already legal and in force, nothing further is required. There is no new law, only a reinterpretation of an existing law hence it does not need to appear in the  Gazette.

 

The history behind this is quite interesting. The current "reinterpretation" is actually a "re-reinterpretation". The original tax code taxed all income remitted to Thailand. But many years ago, an "interpretation" was added to the tax code to state that the tax only applied to money earned "in the current year". This was done to help Thai laborers working in foreign countries who were remitting the money to support their families. If they saved their income until year end, then remitted in the following year (say on Jan 1), then no tax was collected. What they have done is to remove that "addition" from years ago, leaving the original tax code as it was in the beginning.

[chiang mai]

3 minutes ago, timendres said:

 

The history behind this is quite interesting. The current "reinterpretation" is actually a "re-reinterpretation". The original tax code taxed all income remitted to Thailand. But many years ago, an "interpretation" was added to the tax code to state that the tax only applied to money earned "in the current year". This was done to help Thai laborers working in foreign countries who were remitting the money to support their families. If they saved their income until year end, then remitted in the following year (say on Jan 1), then no tax was collected. What they have done is to remove that "addition" from years ago, leaving the original tax code as it was in the beginning.

I never realised that was the case, thank you for that. It makes an even stronger case that no new law is required since things are only reverting to the norm.

[connda]

1 hour ago, chiang mai said:

The changes to the tax law are already legal and in force, nothing further is required.

Which means I'll personally do what I've done since I stopped working here in 2011 - Not a da*m thing.
And I sure as hell have not worried about it unlike those who keep beating this dead buffalo.

[chiang mai]

3 minutes ago, connda said:

Which means I'll personally do what I've done since I stopped working here in 2011 - Not a da*m thing.
And I sure as hell have not worried about it unlike those who keep beating this dead buffalo.

I'm sure that's fine with everyone, it certainly is with me. It's just that you can't pretend to everyone that the tax law is not legal and hasn't been communicated, which is what you wrote.

[connda]

20 minutes ago, chiang mai said:

I'm sure that's fine with everyone, it certainly is with me. It's just that you can't pretend to everyone that the tax law is not legal and hasn't been communicated, which is what you wrote.

 

Huh?  I wrote what <laughs>. 

[Captain Flack]

A reported post and replies, offering nothing to the discussion has been removed.