I am out of the Thailand at the moment and will  have been out of the country for 180 plus days by the time I return.

If I transfer money before I come back anyone have any idea of the position with regard to taxation?

Fiscal year is Jan - Dec. If you transfer this year AND you have been in the country this year for < 180 days you are not a tax resident.
Same for next year.
Being out of the country for 180 days split over two fiscal years doesn't help.

Yes, you can make and transfer as much as you want during a non resident year but the money must also be also be 'realised' during a non resident year - often going to be the same year but perhaps not always.

 

This is the approach I'm taking but I'm going the extra mile and will be non resident for a few years going forward as I don't like their approach and will wait for the dust to truly settle on this whole thing before making additional decisions.

 

Now this next bit is just a hunch but you may open yourself up to potential audits if you send very large amounts of money in a non resident year and of course during an audit they can look back many years and I know a lot of us were likely remitting mingled funds over the last 10 years.

 

Of course if you remain non resident then you won't be needing a TIN assuming those you bank with will work without one.

 

14 hours ago, ukrules said:

but the money must also be also be 'realised' during a non resident year

Realised? = spent?

1 hour ago, Negita43 said:

Realised? = spent?

 

No, so when you sell something (anything) like shares, bonds, gold, Bitcoin, houses, etc - it's said that you 'realise' the profit / capital gain when you sell them assuming there's a gain.

 

Note also Thailand Revenue Department (RD) order 162 clarified that income (and in effect savings) earned before 1-Jan-2024 was not taxable (nor I think assessable) if brought into Thailand after 31-Dec-2023.

 

So regardless of whether you were a tax resident of Thailand for 2024 or not, if the FOREIGN sourced money was earned/saved from before 1-Jan-2024, I do not believe it is intended to be taxable nor treated as assessable income by Thailand.

 

I do believe thou, it worth while to make a record of all your foreign accounts as of the end of the last business day in year 2023 - AND keep a record of any transactions that account since - so that (IF you are a tax resident) you can prove any money brought in was earned and saved before  1-Jan-2024.

 

... If I have the above wrong (I think I have this correct) my hope is that others will correct me.

Edited November 10, 20241 yr by oldcpu