Confused. No income tax Forum?

[THAIPHUKET]

Would have thought that's such an important issue would deserve a separate Forum??

I'm confused but because I heard  heard conflicting information :

 It's under discussion but not yet law. 

Can you enlighten me? 

And if it has become low please guide me to a reliable information source.

 

 

 

 

 

[garygooner]

Really? Just scroll down a little on this forum.. You can read all the comments to your hearts content.

'Thai gov to tax remitted income from abroad'

Also look in the Thailand news forum. 

[StraightTalk]

2 hours ago, THAIPHUKET said:

Can you enlighten me?

Seriously, with your advanced membership, you’re either phishing or you must be joking.

[UWEB]

2 hours ago, THAIPHUKET said:

Would have thought that's such an important issue would deserve a separate Forum??

I'm confused but because I heard  heard conflicting information :

 It's under discussion but not yet law. 

Can you enlighten me? 

And if it has become low please guide me to a reliable information source.

 

 

 

 

 

There are so many threads here on AN about changes in Taxation, too lazy to search?

[topt]

11 hours ago, THAIPHUKET said:

Can you enlighten me? 

Start here ......

and stop being such a .................

[oldcpu]

On 11/2/2024 at 10:23 AM, THAIPHUKET said:

... I heard  heard conflicting information :

 It's under discussion but not yet law. 

Can you enlighten me? 

 

 

As noted - there are already a number of threads on this.

 

and honestly, IMHO, it is still confusing.

 

The Thailand RD issued a Revenue Department Instruction (Por 161/2566) which in essence stated anyone deemed a Thai tax resident and having assessable income from outside of Thailand would have that such income taxed by Thailand in the year when the income was brought into Thailand from 1-Jan-2024 onwards.

 

That was subsequently clarified further in a Revenue Department order (P. 162/2023) that the assessable income arising BEFORE 1-Jan-2024 is not covered by Por 161/2566 (ie savings/income from outside of Thailand before 31-Dec-2023 is not taxable in Thailand).

 

Some purported financial experts noted these are Revenue department instructions and orders, and not law - and they suspect such could be challenged in court.  I would not try challenging such myself, but you asked about law, and to the best of my knowledge those department instructions/orders are not in themselves law.

 

Now the head (and senior managers ) in the Thai Revenue Department (RD) have been publicly quoted as stating they want to expand the tax envelope of Thailand even if the income is not brought into Thailand, so to tax all global income of anyone resident in Thailand for >180 days in a taxation year.  This is not law, but the senior managers in the RD note they want to do such.

 

There may also be Thai law (or Thai RD instructions/orders - I don't know which) that specify at what point one must apply for a Thai tax ID and file a Thai tax return.  Such information is scattered in the noted threads.

 

Given the instructions/orders are not law, ... given there may be exceptions (such as selected LTR visa categories), and given Thai RD wants to increase the taxation envelope further, I think it fair to say there is a degree of uncertainty here. 

 

Some of us hope there will be more clarity this month when the Thai year-2024 blank tax forms are available for filling in (which I believe typically happens in November each taxation year) - but I don't hold an answer here.

 

Likely you can get a far better answer than what I can provide, if you dig through the many threads - but I warn you - its "heavy going" (at least it has been for me).

Edited yesterday at 12:39 PM by oldcpu