world wide income taxation update

[Presnock]

On 9/14/2024 at 9:42 AM, Dcheech said:

Noticed that too. 😃  but all speculation until they actually set out what the rules will be.

Cue up three and a half months more expat shop talking. 

you must be dreaming if you think that they will give us all the info within 3 months.

[Presnock]

On 9/14/2024 at 11:55 PM, KhunHeineken said:

Ok, so what has language barrier got to do with whether or not an individual, from any country, has a tax liability here in 2025?

 

Money speaks all languages, does it not? 

 

So, you are American, but you posted UK and Australians "will have no problems."  Your words.  What do you know of the British and Australia DTA? 

 

I am quite sure every country has their own DTA with Thailand in their own language, for their own citizens / companies. 

 

All the Thai's will understand is they can now write up a tax bill for just about every foreigner living here, and they have to pay it, or leave Thailand for 6 months of the year.  That bill may or may not be the correct amount to pay, but it will be a bill.  One way or another, I can't see the wealthy or the pensioners getting a free pass. 

 

You use the words "too many problems" but like most things in Thailand "problems" are measured in baht, and foreigners who are a resident of Thailand for tax purposes will have to pay. 

well, the govt just announced easing of the wealthy pensioner of the LTR scheme - but they included in the benefits, that foreign income was still tax free, nowhere have I seen any indication other than from expats on this forum that the TRD will not be giving tax free to foreign earned income remitted or not.

[Airalee]

28 minutes ago, Presnock said:

in the long run, can be cheaper than locking your money up in a Thai bank.  Plus, no 90-day reports, in and out of the country free as much as you want, easier return at the airport...no need to obtain bank letters, etc every year.  just saying, I was on a retirement o for 20 years and after reading the benefits of the LTR, changed as it fits me much better.

Understood.  Your situation may be different than mine as you can see if you check out my post just a few above this one.

 

Of course…there are no guarantees with any visa I choose, but for me, I feel more comfortable with the retirement non-o

[oldcpu]

2 hours ago, Presnock said:

well, the govt just announced easing of the wealthy pensioner of the LTR scheme.

 

 

I believe the easing you are thinking of is for the Wealthy Global Citizen,  which is a different category from the Wealthy Pensioner category.  I don't believe that there was any change to the Wealthy Pensioner category. 

 

2 hours ago, Presnock said:

- but they included in the benefits, that foreign income was still tax free, nowhere have I seen any indication other than from expats on this forum that the TRD will not be giving tax free to foreign earned income remitted or not.

 

There has been a lot of speculation on this topic, and time will likely tell whose speculation is closest to the truth.  My speculation is for the LTR WP, WGC, and WFTP ( ?) Visas that all foreign sourced income remitted to Thailand will be tax free in Thailand regardless as to which year the income earned.

[Presnock]

1 hour ago, oldcpu said:

 

I believe the easing you are thinking of is for the Wealthy Global Citizen,  which is a different category from the Wealthy Pensioner category.  I don't believe that there was any change to the Wealthy Pensioner category. 

 

 

There has been a lot of speculation on this topic, and time will likely tell whose speculation is closest to the truth.  My speculation is for the LTR WP, WGC, and WFTP ( ?) Visas that all foreign sourced income remitted to Thailand will be tax free in Thailand regardless as to which year the income earned.

But there was a bit on the fact that they thought that the 80K minimum for 2 years for the wealthy pensioner might be altered too  Maybe sometime in the 9+ years I have left on the LTR, the govt will advise us on all that is happening.  My only guess based on what I have seen since late December is that some parliament of cabinet members might still not agree to all the changes under the worldwide income taxation scheme which the finance leaders said that the govt wanted it approved by 1 Jan 2025 or they might not be able to implement it until 2026.  Who know what evil lurks in hearts of the TRD?