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Posted

2 November dateline:  BP has an article that does not add a lot to the worldwide income taxation scheme but does mention they are now drafting the law which will tax all foreign income of Tax residents beginning next year whether or not that income is remitted into Thailand so, BOI needs to find a  way to dull the "PAIN" of that new tax scheme.  No a whole lot more except on corporate taxes.  Looking more and more definite.  But then again, not even sure this govt will be around next month even.  Welcome winter as prediction is this week, temperatures in BKK might drop 1-3 degrees!  However, for three straight days the pollution has been over the healthy level in Prawet district anyway (where we have a lot of greenery/trees)!

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Posted
1 hour ago, Presnock said:

2 November dateline:  BP has an article that does not add a lot to the worldwide income taxation scheme but does mention they are now drafting the law which will tax all foreign income of Tax residents beginning next year whether or not that income is remitted into Thailand so, BOI needs to find a  way to dull the "PAIN" of that new tax scheme.  No a whole lot more except on corporate taxes.  Looking more and more definite.  But then again, not even sure this govt will be around next month even.  Welcome winter as prediction is this week, temperatures in BKK might drop 1-3 degrees!  However, for three straight days the pollution has been over the healthy level in Prawet district anyway (where we have a lot of greenery/trees)!

https://www.bangkokpost.com/business/genral/s89466s/board-of-investment-eager-to-dull-minimum-tax-pain.

most of the article deals with investment but the opening paragraphs mention tax residents having to pay tax on all income whether remitted or not to Thailand and bill being drafted now.

Posted
Just now, Everyman said:

The author of the article seems to not know what they are talking about and has conflated a bunch of different things such that it makes no sense.

 

But one fact we can be reminded of is that there is no global taxation law for tax residents in Thailand and there may never be one. 

 

 

  Exactly.  OP habitually posts inaccurate information such as this in his zeal to bring us all "breaking news", lol.

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Posted
On 11/3/2024 at 5:38 AM, Presnock said:

2 November dateline:  BP has an article that does not add a lot to the worldwide income taxation scheme but does mention they are now drafting the law which will tax all foreign income of Tax residents beginning next year whether or not that income is remitted into Thailand so, BOI needs to find a  way to dull the "PAIN" of that new tax scheme.  No a whole lot more except on corporate taxes.  Looking more and more definite.  But then again, not even sure this govt will be around next month even.  Welcome winter as prediction is this week, temperatures in BKK might drop 1-3 degrees!  However, for three straight days the pollution has been over the healthy level in Prawet district anyway (where we have a lot of greenery/trees)!

That was an old suggestion, not something that for sure happens. So far, it only income brought into Thailand after 1st January 2024 that shall be taxed; however, details about the procedure is to m y knowledge still missing.

Posted
31 minutes ago, khunPer said:

That was an old suggestion, not something that for sure happens. So far, it only income brought into Thailand after 1st January 2024 that shall be taxed; however, details about the procedure is to m y knowledge still missing.

well so far all we know is that we need to get a Thai tax number if we have assessable income remitted or earned if we are tax residents here and need to file before the end of March 2025.  Supposedly new tax forms would be issued by the revenue department this month or next month.Other than that we know nothing else.  But if your country has a DTA with Thailand you should be familiar with the contents based on your financial situation.  Nothing is very definite here except changes...maybe even a new govt soon.

 

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Posted
20 hours ago, Everyman said:

The author of the article seems to not know what they are talking about and has conflated a bunch of different things such that it makes no sense.

 

But one fact we can be reminded of is that there is no global taxation law for tax residents in Thailand and there may never be one. 

 

Honestly, if there was one, what rich person in their right mind would open themselves up to the revenue department of a notoriously corrupt country to plunder whatever they wanted from their accounts? Nobody, of course, the wealthier they are the less likely they would be to stay. 

Talk to the U.S. Embassy Thailand, this involves an International Treaty that will require being dealt with as it specifically addresses the apparent general goal of global taxation. Then get back to me. We have already discussed “Plan B”, there are other countries and they also allow international retirees to join their national healthcare schemes after a period of residency. There are alternatives for free citizens of various countries.

Posted
On 11/4/2024 at 8:50 AM, Presnock said:
On 11/4/2024 at 8:14 AM, khunPer said:

That was an old suggestion, not something that for sure happens. So far, it only income brought into Thailand after 1st January 2024 that shall be taxed; however, details about the procedure is to m y knowledge still missing.

well so far all we know is that we need to get a Thai tax number if we have assessable income remitted or earned if we are tax residents here and need to file before the end of March 2025.  Supposedly new tax forms would be issued by the revenue department this month or next month.Other than that we know nothing else.  But if your country has a DTA with Thailand you should be familiar with the contents based on your financial situation.  Nothing is very definite here except changes...maybe even a new govt soon.

Yes, but that was not what I replied to. My reply was about foreign income not transferred into Thailand being taxed with Thai income tax.

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