Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[ukrules]

On 12/19/2024 at 6:20 PM, stat said:

Maybe they will check if they were taxed somewhere but I doubt it.

 

Having being taxed elsewhere or not is inconsequential if you're also a non resident.
 

 

[oldcpu]

11 hours ago, redwood1 said:

 

Has any one here made note on the amount of taxes a farang pays on a condo per year? If they pay at all?.......Its like 100 baht a year or some other very very very low amount.........Real estate taxes in Thailand seem to me to be insanely low compared to the west.....

If they ever decided to get the Real estate taxes working in Thailand they would bring in many Trillions of baht......

 

To the best of my knowledge, if a property (such as a condo) is one's primary residence in Thailand where the person (Thai or farang) is the owner and registered as living in that property, then no property tax for the property (condo for a foreigner)  is due.

[scottiejohn]

37 minutes ago, Phulublub said:

Retired expats on fixed pensions are not the target of this measure!

 

PH

They may not be the intended target of this measure but will they get swept up into it is the question?

[Phulublub]

4 minutes ago, oldcpu said:

 

To the best of my knowledge, if a property (such as a condo) is one's primary residence in Thailand where the person (Thai or farang) is the owner and registered as living in that property, then no property tax for the property (condo for a foreigner)  is due.

Not quite true.  For a yellow Tabien Baan, there is no property tax to pay.  For foreign owned condo with a blue Tabien Baan, then propoerty tax (which is minimal) is due.  Just about the only reason for a foreigner to go through the hoops to get a yellow tabien baan

 

PH

[Phulublub]

1 minute ago, scottiejohn said:

They may not be the intended target of this measure but will they get swept up into it is the question?

Due to the numerous DTAs, the vast, vast majority of foreigners who are tax resident here will have no, or only extremely small Thai tax liability. 

 

Once I start receiving my UK OAP (if I live that long!) I will not have any laibility due to the tax I will already have paid in the UK. I have heard that is is possible for those taxed here to receive UK OAP tax free (in UK) and pay tax on it here, but as I a still two years away from this, have yet to do any proper research to validate this.

 

PH

[anrcaccount]

6 hours ago, aldriglikvid said:

That's why I believe either this will be a "nothingburger" (i.e. self reporting with very few controls) or an absolute smash to Thailand as an expat destination. 

Rest assured, not a single Russian, Chinese or Indian (their 3 top tourists) will self report any tax on international transfers this coming spring. Not one

 

 

Extremely well said. 

 

Imagine the first case of an expat selling a property in their home country (assume big capital gain exempt in that country ) and buying a Villa in Thailand, let's say 30M THB, then getting slugged another 10M THB in tax for the privilege of the purchase, by self-filing a Thai tax return..... 

 

That'll be all over the news!

 

What everyone seems to forget is, for many years, many have been remitting foreign income earnt same year to Thailand, and no tax returns have been filed, no consequences. 

 

Apart from a few "compliance crusaders" and a small number of other individuals (including those taken advantage of by the predatory tax agencies that have sprung up), I'd take a wild guess that 95%+ of expats will not file a Thai tax return in 2025 (despite possibly being technically required to). 

 

 

[oldcpu]

28 minutes ago, Phulublub said:

Not quite true.  For a yellow Tabien Baan, there is no property tax to pay.  For foreign owned condo with a blue Tabien Baan, then propoerty tax (which is minimal) is due.  Just about the only reason for a foreigner to go through the hoops to get a yellow tabien baan

 

I have  a yellow Tabien Baan.   That is what I had in mind when I typed " where the person (Thai or farang) is the owner and registered as living in that property" ... 

 

I did not think it  possible for a foreigner to register in the local city hall against a property (as their primary residence) without one having a  yellow Tabien Baan  (unless one is a permanent resident to Thailand).

 

I guess  I should have been more specific.

 

 

[Phulublub]

43 minutes ago, oldcpu said:

 

I have  a yellow Tabien Baan.   That is what I had in mind when I typed " where the person (Thai or farang) is the owner and registered as living in that property" ... 

 

I did not think it  possible for a foreigner to register in the local city hall against a property (as their primary residence) without one having a  yellow Tabien Baan  (unless one is a permanent resident to Thailand).

 

I guess  I should have been more specific.

 

 

Maybe, I dunno.  As far as I am aware, I am registered as living in my condo, but I have a Blue Book as I am told getting a yelow one at Pattaya City Hall is nigh on impossible....am I not registered?

 

PH