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Elite Visa Holders exempt from paying personal income tax in Thailand


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I think this is new ?

 

Taxation regulations in 2024

Thailand Privilege membership holders are exempt from paying personal income tax in Thailand if they remit funds from a personal bank account abroad into a local bank account in Thailand and can provide proof that the money is not personal income in the same calendar year. 

Additionally, if your country has a Double Tax Agreement (DTA) with Thailand, no tax is required in Thailand, even if the income is transferred within the same calendar year it was earned. For further clarification, please refer to the attached summary prepared by the Revenue Department. '

 

see https://go.thailandprivilege.co.th/b/17863/4625/2000460/F/F/F/F/F

 

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12 minutes ago, churchill said:

I think this is new ?

 

Taxation regulations in 2024

Thailand Privilege membership holders are exempt from paying personal income tax in Thailand if they remit funds from a personal bank account abroad into a local bank account in Thailand and can provide proof that the money is not personal income in the same calendar year. 

Additionally, if your country has a Double Tax Agreement (DTA) with Thailand, no tax is required in Thailand, even if the income is transferred within the same calendar year it was earned. For further clarification, please refer to the attached summary prepared by the Revenue Department. '

 

see https://go.thailandprivilege.co.th/b/17863/4625/2000460/F/F/F/F/F

 

 

No, nothing new. It pertains to 2024 only and is the case for any type of visa or permission to stay. Any income earned before January 1st, 2024 is not assessable income. However, in 2025, 2026, etc. it will not be "not in the same calendar year" but "before January 1st, 2024".

Edited by MART
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13 minutes ago, MART said:

No, nothing new. It pertains to 2024 only and is the case for any type of visa or permission to stay.

Well this part is definitely new and it is not true for any type of visa:

20 minutes ago, churchill said:

Additionally, if your country has a Double Tax Agreement (DTA) with Thailand, no tax is required in Thailand, even if the income is transferred within the same calendar year it was earned.

Also the wording about income from the same calendar year is a bit strange. Why they wouldn't say even now that income earned before 1st January 2024?

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I got this same email from TE today.

Nobody pays any tax on remitted funds for 2024 if they came from any previous year, this is just a result of the clarification memo they issued.

 

This would be big news if it also carries over into 2025 and applies to 2024 foreign income gained whilst resident in Thailand, which I very much doubt.

Suspect that cut off date at the end of 2023 is going to apply to everyone.

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51 minutes ago, Alldar said:

Well this part is definitely new and it is not true for any type of visa:

Also the wording about income from the same calendar year is a bit strange. Why they wouldn't say even now that income earned before 1st January 2024?

 

I think you're wrong. Read it carefully. The headline is "Taxation regulations in 2024", but it should read "Taxation regulations for 2024", and then it makes perfectly sense.

It pertains to 2024 only that income not earned in the same year is not assessable. In 2025, 2026, etc. this statement will not be true any longer and it will have to read "income earned before 2024". 

 

I suspect the strange wording is made on purpose for readers to think that their income made in another calendar year is not assessable. The statement about DTAs is also very vague and misleading. All DTAs are different and none applies to all types of income.

Edited by MART
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3 minutes ago, MART said:

I suspect the strange wording is made on purpose for readers to think that their income made in another calendar year is not assessable. The statement about DTAs is also very vague and misleading. All DTAs are different and none applies to all types of income.

The part about the DTAs made me believe that it is something new because even if the country has DTA with Thailand you are usually paying difference of the taxes in the target country and exactly every DTA is different and different sources of income is treated differently as well. Why would official statement be misleading like this?

 

But yeah probably it is nothing new. It will be interesting what would be the statement for 2025.

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12 minutes ago, Alldar said:

Why would official statement be misleading like this?

 

The Thai Elite Privilege scheme is a private business AFAIK. So it's not an official statement from the Thai government.

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