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

[Lorry]

5 hours ago, Phulublub said:

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

What do you mean by "I am registered as living in my condo"???

Registration in Thai is tabien. So how/where can you be "registered" if not in a yellow tabien baan?

[stat]

22 hours ago, ukrules said:

 

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

 

In my example you are a thai tax resident in 25 and transfer untaxed income from 2024. IMHO it could technically be taxable in TH then in 25 if remitted to TH.

[TheAppletons]

16 hours ago, Lorry said:

So how/where can you be "registered" if not in a yellow tabien baan?

 

  My address is "registered" via the TM-30.  Yours isn't?

[oldcpu]

1 hour ago, TheAppletons said:

 

  My address is "registered" via the TM-30.  Yours isn't?

 

My understanding is that the TM47/TM30 are one's registrations for immigration purposes.

 

However those do NOT help when it comes to property tax for condo ownership in Thailand.

 

For home (condo) ownership purposes (so to NOT pay property tax on one's condo in Thailand), I had thought (and still think) one needs to register at the local city district office that one owns a condo in Thailand and that this is one's 1st residence (home) when in Thailand.  If one is thus registered as such at the district office , one then does not have to pay annual property tax on one's condo.

 

Part of this (somewhat IMHO painful) process of registering results in one obtaining the Yellow book for the property.  I believe only Thai citizens or falang permanent residents to Thailand can have their name in the Blue book.

 

But I may have the above incorrect.

[Phulublub]

2 hours ago, oldcpu said:

 

My understanding is that the TM47/TM30 are one's registrations for immigration purposes.

 

However those do NOT help when it comes to property tax for condo ownership in Thailand.

 

For home (condo) ownership purposes (so to NOT pay property tax on one's condo in Thailand), I had thought (and still think) one needs to register at the local city district office that one owns a condo in Thailand and that this is one's 1st residence (home) when in Thailand.  If one is thus registered as such at the district office , one then does not have to pay annual property tax on one's condo.

 

Part of this (somewhat IMHO painful) process of registering results in one obtaining the Yellow book for the property.  I believe only Thai citizens or falang permanent residents to Thailand can have their name in the Blue book.

 

But I may have the above incorrect.

I think we are in agreement but misunderstandings occur with being recognised as living in ones' own condo by different organisations.  I pay property tax as I don't have a yellow book - but as City Hall sends the invoice to me, by name, at my condo, I (incorrectly) assumed that meant I was registered  as living here per, as you say, TM47 and TM30.....I guess not as on reflection, I could actually be living pretty much anywhere and they would still send the invoice to me as the owner.

 

PH