Law to tax overseas income seems unlikely for 2025

[TPDH]

Hi 

 

https://www.bangkokpost.com/business/general/2860812/law-to-tax-income-from-overseas-in-the-works

A few months ago the Thai Revenue Department confirmed that they're working on a law to tax overseas income but since then I don't believe we've heard any updates. Some people were thinking it would be implemented in 2025 but with only 5 weeks left of this year it seems unlikely they'll be able to pass a new law and implement it for next year? 

 

Which would mean the earliest it could come into effect would be 2026 which would be good news. 

[scubascuba3]

That's a shame many falang on here are eager to pay

[Delight]

 I visited Chonburi Taxation Office.

 

Albeit that they spoke very little English -It was obvious that I had to pay tax on my 2024 income from UK.

For example they had written in English the procedure for acquiring a  Tax Identification number (TIN)

 

They also stated that the process for paying tax could only commence beginning 2025.

The tax authorities will not contact you.

You have to volunteer.

[scubascuba3]

7 minutes ago, Delight said:

 I visited Chonburi Taxation Office.

 

Albeit that they spoke very little English -It was obvious that I had to pay tax on my 2024 income from UK.

For example they had written in English the procedure for acquiring a  Tax Identification number (TIN)

 

They also stated that the process for paying tax could only commence beginning 2025.

The tax authorities will not contact you.

You have to volunteer.

What income from UK will you be paying tax on? how about the double tax agreement? you must have discussed it

[TPDH]

6 hours ago, Delight said:

 I visited Chonburi Taxation Office.

 

Albeit that they spoke very little English -It was obvious that I had to pay tax on my 2024 income from UK.

For example they had written in English the procedure for acquiring a  Tax Identification number (TIN)

 

They also stated that the process for paying tax could only commence beginning 2025.

The tax authorities will not contact you.

You have to volunteer.

Under current rules, if you transfer your income into Thailand when you're a tax resident here, then yes you have to pay taxes here. But if you keep foreign income abroad you don't need to pay taxes on it. That's what they've been talking about changing but it hasn't changed yet. 

[Delight]

On 11/26/2024 at 12:30 PM, scubascuba3 said:

What income from UK will you be paying tax on? how about the double tax agreement? you must have discussed it

 I will submit an official HMRC document stating the total tax which I pay in the UK.

 

Whether this amount  is fully allowed against Thai tax remains to be seen

 

I only bring in to Thailand about 60% of my UK net income.

I will refuse to specify my total gross UK income.

Maybe this is the  basis for a future argument-time will tell.

 

[topt]

5 hours ago, Delight said:

I will refuse to specify my total gross UK income.

As others have said currently you do not need to and it may never come to pass - cross fingers.......

 

Do you understand the basics of what is possibly required for tax returns due Jan 1 2025 to March 31st 2025 (plus another week for online filing) for any income remitted in this current year?

On 11/26/2024 at 12:22 PM, Delight said:

Albeit that they spoke very little English -It was obvious that I had to pay tax on my 2024 income from UK.

Depends whether your income is assessable.

 

You may want to have a read of the first few relevant pages of this thread which may help -

 

 

[KhunHeineken]

On 11/28/2024 at 5:25 AM, Delight said:

I will refuse to specify my total gross UK income.

If it comes to that, will you sign a false declaration?  The stakes get raised once you go down that path.