Revenue Department boss calls on tax residents in Thailand to file 2024 returns by March 31

[The Cyclist]

25 minutes ago, chiang mai said:

TRD options appear to be:

 

Say/do nothing: Puts stress on TRD offices and staff but results in increased tax filing volume. Uncertainty and lack of clarity persists but no loss of face. Over time, filing gains transaction and becomes status quo or is ignored and reverts to past behaviour (improbable, I suggest).

 

Say Something: Risks greater confusion/foot in mouth, opens many cans of worms.

 

I think  it would be fair to say that people at the RD know this. Which is why I have just opined that the silence is deliberate and a bombshell might just be about to be dropped.

 

27 minutes ago, chiang mai said:

Link to Visa Extension/Issuance: Game over

 

Why would it be game over ?

 

A move to worldwide taxation, depending on the nuts & bolts, might make this house a 5 month holiday home.
 

 

[The Cyclist]

1 hour ago, Jingthing said:

As you mentioned expattaxthailand, I will provide an update on their very clear opinion about the treatment by RD of U.S. retirement accounts  (IRAs Roth and Traditional / 401ks).

 

Can I just make 1 important point about opinions, apart from them being like ****holes and everyone has one.

 

There are generic opinions / There are considered opinions/ There are expert opinions.

 

They are all just opinions, that carry different weights. Regardless of the weight of those opinions,they will never trump what comes from the RD.

 

Which is why I am finding the silence, going back to 2023, rather confusing, and perhaps, even slightly worrying.

[chiang mai]

19 minutes ago, The Cyclist said:

 

I think  it would be fair to say that people at the RD know this. Which is why I have just opined that the silence is deliberate and a bombshell might just be about to be dropped.

 

 

Why would it be game over ?

 

A move to worldwide taxation, depending on the nuts & bolts, might make this house a 5 month holiday home.
 

 

Lots of hypothesis and whatifery, it could go either/any way......it's probably not productive to guess at it all.

[The Cyclist]

Just now, chiang mai said:

Lots of hypothesis and whatifery, it could go either/any way......it's probably not productive to guess at it all.

 

And apply that right back to the very 1st thread n the subject.

 

But here we are. A huge black hole of internet pixels, with current and live information which is still conflicting 10 days into filing season.

[chiang mai]

21 minutes ago, The Cyclist said:

 

And apply that right back to the very 1st thread n the subject.

 

But here we are. A huge black hole of internet pixels, with current and live information which is still conflicting 10 days into filing season.

Here's a whatifervy that's worth considering.....what if things continue like this for the rest of the tax filing season? The frustration and angst will build and then .....nothing. Naysayers will say nay, I told you so, BTW one of them wrote me a most endearing note yesterday (love you too dude).  Perhaps at that point the director will announce.....April fool, gotcha, you farangs are so funny. Not beyond the realms of possibility.

[anchadian]

19 minutes ago, chiang mai said:

Here's a whatifervy that's worth considering.....what if things continue like this for the rest of the tax filing season? The frustration and angst will build and then .....nothing. Naysayers will say nay, I told you so, BTW one of them wrote me a most endearing note yesterday (love you too dude).  Perhaps at that point the director will announce.....April fool, gotcha, you farangs are so funny. Not beyond the realms of possibility.

If that happens, which I doubt, these so called tax experts will be dishing out refunds to those who paid for their ‘expert’ service(s).

[chiang mai]

3 minutes ago, anchadian said:

If that happens, which I doubt, these so called tax experts will be dishing out refunds to those who paid for their ‘expert’ service(s).

I very much doubt also, the April Fool part that is, but the rest of it is a real possibility and no refunds would be required since those who did file, complied with the law.

[anchadian]

52 minutes ago, chiang mai said:

I very much doubt also, the April Fool part that is, but the rest of it is a real possibility and no refunds would be required since those who did file, complied with the law.

The questions remains therefore, how did those file a return if there are no 2024 forms (English language) available, especially non-assessable?

[oldcpu]

On 1/8/2025 at 8:06 PM, Etaoin Shrdlu said:

The only thing that has changed is the new interpretation of how remitted income may be assessable income if the income is both earned and remitted after 31 December 2023. It seems that nothing else has changed.

 

True .

 

But ...  when considering assessable vs not-assessable income, things such as one's Visa (LTR for example) and the DTA with Thailand of one's income source country also come into play.  Before that change, these things didn't matter as the interpetation of remitted income was assessed less defined/different.  

 

So now other aspects (for some non LTR visa holders) such as each DTA needs to be considered and DTAs can be very different.

 

Case in point -

 

German-Thai DTA:  all German sourced pensions for Thai tax residents are not taxed in Germany but instead Thailand has the exclusive taxation rights.

 

however ...

 

Canada-Thai DTA:  all Canadian sourced pensions for Thai tax residents are to be exclusively taxed in Canada.

 

In that very specific and limited aspect those DTAs could not be much more different.  And that is only two countries (Canada and Germany). How many other countries have different arrangements with Thailand in their DTAs?

 

Before the 'change' these DTAs could be ignored for most - but now attention needs to be paid to them, and frankly, the DTAs are not always so easy to read.

 

... and also questions arise as to what income/money is considered pre-1-Jan-2024?   There is discussion whether the profit on still liquid close of business 31-Dec-2023 value of equities can be included as pre-1-Jan-2024 income.  Does such pre-1-Jan-2024 funds need to be in cash only? 

 

These are just a couple of examples that come to my mind and there may be more.

 

Further, there could be aspects where NO tax is due to tax exemptions,  but whether in such a case whether an income tax return (to prove such) is needed is possibly not so clear - especially if Thai RD is not very open to hand out a tax-ID.

 

So while I fully agree "the only thing that has changed is the new interpretation of how remitted income may be assessable income if the income is both earned and remitted after 31 December 2023" ... the devil is in the details, and it starts to get a bit complex here.

 

Which I believe in part (albeit not fully) explains a number of the posts in this very long thread.

 

 

[Etaoin Shrdlu]

1 hour ago, oldcpu said:

 

True .

 

But ...  when considering assessable vs not-assessable income, things such as one's Visa (LTR for example) and the DTA with Thailand of one's income source country also come into play.  Before that change, these things didn't matter as the interpetation of remitted income was assessed less defined/different.  

 

So now other aspects (for some non LTR visa holders) such as each DTA needs to be considered and DTAs can be very different.

 

Case in point -

 

German-Thai DTA:  all German sourced pensions for Thai tax residents are not taxed in Germany but instead Thailand has the exclusive taxation rights.

 

however ...

 

Canada-Thai DTA:  all Canadian sourced pensions for Thai tax residents are to be exclusively taxed in Canada.

 

In that very specific and limited aspect those DTAs could not be much more different.  And that is only two countries (Canada and Germany). How many other countries have different arrangements with Thailand in their DTAs?

 

Before the 'change' these DTAs could be ignored for most - but now attention needs to be paid to them, and frankly, the DTAs are not always so easy to read.

 

... and also questions arise as to what income/money is considered pre-1-Jan-2024?   There is discussion whether the profit on still liquid close of business 31-Dec-2023 value of equities can be included as pre-1-Jan-2024 income.  Does such pre-1-Jan-2024 funds need to be in cash only? 

 

These are just a couple of examples that come to my mind and there may be more.

 

Further, there could be aspects where NO tax is due to tax exemptions,  but whether in such a case whether an income tax return (to prove such) is needed is possibly not so clear - especially if Thai RD is not very open to hand out a tax-ID.

 

So while I fully agree "the only thing that has changed is the new interpretation of how remitted income may be assessable income if the income is both earned and remitted after 31 December 2023" ... the devil is in the details, and it starts to get a bit complex here.

 

Which I believe in part (albeit not fully) explains a number of the posts in this very long thread.

 

 

 

DTAs have always been important for those who may have income that is exempt from Thai taxation.

 

Being exempt from Thai taxation under a DTA allowed remittance of income in the same year it was earned without it being subject to Thai income tax. This hasn't changed under the new interpretation of the tax regulations.

 

Those with income that was not exempt from Thai taxation due to DTA could in the past wait until the following tax year and remit that income without it being subject to Thai tax. This is no longer the case under the new interpretation for income earned and remittances received after 31 December 2023. Those who relied on this method to legally avoid Thai tax on remittances that would otherwise have been taxable are now well advised to review DTAs to see what relief, if any, they have under these agreements.

 

If you aren't certain about the status of your income/remittances and the DTA isn't clear to you, best get professional advice. I don't think many of the regular staff at the RD are up to speed on any of this.

 

[jwest10]

7 minutes ago, Etaoin Shrdlu said:

 

DTAs have always been important for those who may have income that is exempt from Thai taxation.

 

Being exempt from Thai taxation under a DTA allowed remittance of income in the same year it was earned without it being subject to Thai income tax. This hasn't changed under the new interpretation of the tax regulations.

 

Those with income that was not exempt from Thai taxation due to DTA could in the past wait until the following tax year and remit that income without it being subject to Thai tax. This is no longer the case under the new interpretation for income earned and remittances received after 31 December 2023. Those who relied on this method to legally avoid Thai tax on remittances that would otherwise have been taxable are now well advised to review DTAs to see what relief, if any, they have under these agreements.

 

If you aren't certain about the status of your income/remittances and the DTA isn't clear to you, best get professional advice. I don't think many of the regular staff at the RD are up to speed on any of this.

 

Still no forms??? And will there ever be???

[chiang mai]

2 hours ago, anchadian said:

The questions remains therefore, how did those file a return if there are no 2024 forms (English language) available, especially non-assessable?

Online?

[Etaoin Shrdlu]

10 minutes ago, jwest10 said:

Still no forms??? And will there ever be???

 

I don't think the forms will be changed this year, but that's only my opinion and I could be proven wrong at any time.

 

It has always been, and it will probably remain for this year, that the taxpayer is responsible for determining whether income is assessable or non-assessable and then only entering the assessable income on the form.

[Jingthing]

4 hours ago, The Cyclist said:

 

Can I just make 1 important point about opinions, apart from them being like ****holes and everyone has one.

 

There are generic opinions / There are considered opinions/ There are expert opinions.

 

They are all just opinions, that carry different weights. Regardless of the weight of those opinions,they will never trump what comes from the RD.

 

Which is why I am finding the silence, going back to 2023, rather confusing, and perhaps, even slightly worrying.

Yes. Of course we would very much want an official announcement from them in this case about how they will view remittances of U.S. retirement account withdrawals.

But consider that it's entirely possible that we will NEVER get anything as clear as that!

The Integrity Legal guy repeatedly alludes to that -- that they or any taxing authority for that matter is not in the business of helping potential taxpayers avoid tax.

So again on the U.S. retirement account issue, how would you weigh the credibility of an opinion and a very clear one at that from expattaxthailand which is for sticklers a Thai owned concern vs. the opinions of random people on an internet forum?

The answer is obvious that the former carries more weight, yes?

Now going forward perhaps we will get confirming or refuting reports from American expats asking about this, even being audited about it at various revenue offices.

Those would carry more weight too than just random opinions.

But we have no such reports at this point. 

All we can do at this point is the best that we can. 

To be clear, I'm not advocating one position or another on this.

I just want to know what the deal is! And so far the most clear and credible opinion I've got is as I posted before.

[chiang mai]

7 minutes ago, Etaoin Shrdlu said:

 

I don't think the forms will be changed this year, but that's only my opinion and I could be proven wrong at any time.

 

It has always been, and it will probably remain for this year, that the taxpayer is responsible for determining whether income is assessable or non-assessable and then only entering the assessable income on the form.

Yes, that's very likely I think 

[JimGant]

2 minutes ago, Etaoin Shrdlu said:

I don't think the forms will be changed this year, but that's only my opinion and I could be proven wrong at any time.

 

It has always been, and it will probably remain for this year, that the taxpayer is responsible for determining whether income is assessable or non-assessable and then only entering the assessable income on the form.

Bingo. Nothing has changed from TY 2023 to TY2024, requiring a unique new form. In fact, if you look at the form for 2023, you'll see it's just boilerplate - for Tax Year at the top of the page, there's just a blank line to be filled in (unlike a US 1040, with an embedded tax year). Thus, why would you expect a new form for TY2024, since you just fill in the blank lines with your new self-assessed numbers -----? And, yes, your self assessment, banged against Por 161 and 162 guidance, would be different on a boilerplate 2023 form vs a 2024 form. But, hey, we're talking about a form full of blank lines, but categories thqt haven't changed between tax years. So, if you're going to file in person, quit waiting for a new form -- the online filers have already shown there's no difference in format from 2023 to 2024. So, don't expect a new hard copy boilerplate form.

 

I know this observation will disappoint those wanting a new form, with lines to include non assessable income. Lord knows why they want this...but, fortunately, TRD is only interested in numbers pertinent to generating income for Thailand.

[jwest10]

10 minutes ago, JimGant said:

Bingo. Nothing has changed from TY 2023 to TY2024, requiring a unique new form. In fact, if you look at the form for 2023, you'll see it's just boilerplate - for Tax Year at the top of the page, there's just a blank line to be filled in (unlike a US 1040, with an embedded tax year). Thus, why would you expect a new form for TY2024, since you just fill in the blank lines with your new self-assessed numbers -----? And, yes, your self assessment, banged against Por 161 and 162 guidance, would be different on a boilerplate 2023 form vs a 2024 form. But, hey, we're talking about a form full of blank lines, but categories thqt haven't changed between tax years. So, if you're going to file in person, quit waiting for a new form -- the online filers have already shown there's no difference in format from 2023 to 2024. So, don't expect a new hard copy boilerplate form.

 

I know this observation will disappoint those wanting a new form, with lines to include non assessable income. Lord knows why they want this...but, fortunately, TRD is only interested in numbers pertinent to generating income for Thailand.

The point is and seeing other posts those who have been told you do not need to file but one can not do online unless one has an in line number and can not access it otherwise?

[jwest10]

17 hours ago, anchadian said:

Yes, just realized.

Now some stating can use 2023 forms as at the top of it there is no date but again been told do not have to fill in a form under my circumstances my income is below the 500 or 560K threashold and also asked do I work here and can not get a tin without it nut got a pink id card

[anchadian]

I think we can safely say that no new forms will appear online for 2024 tax year and therefore to use the 2023 form filling in the 2024 date, but you still need a TIN which means a visit to your local RD.

Would be so much simpler if an application for a TIN was posted on the English language RD site.

 

Those will non-assessable income don't declare.

 

Just my thoughts

[redwood1]

It seems to me about the only people who give a rats azz about any of this tax stuff, are the hand full of posters on this thread......

 

Even the Thai government cant be azzed to get it together....The Other group that does care are the so called tax experts $$$$ always ready to give a helping hand $$$$....And lighten your wallet.......lol

 

The other 99.9% of people out there have no concern about any of this......At All.....

[JimGant]

47 minutes ago, Jingthing said:

So again on the U.S. retirement account issue, how would you weigh the credibility of an opinion and a very clear one at that from expattaxthailand which is for sticklers a Thai owned concern vs. the opinions of random people on an internet forum?

 

Well, Expatthailand is, if nothing more, forthcoming:

 

Quote

Tax Advisory Disclaimer

The information on this website is for informational purposes only and is not professional tax advice. For full details, please consult our complete Tax Advisory Disclaimer.

Having said that, let's look at Por 162, which says:

 

Quote

Order No. Por.162/2566, issued on November 20, 2023, provides further clarification. It states that the new interpretation should not apply to foreign-sourced income earned before January 1, 2024

 

Expatthailand says this can only apply to foreign sourced income residing in a bank acount. Where, pray tell, did they get this interpretation? I can only assume they didn;t invent it -- so maybe somebody from TRD gave them a briefing..... However, unless a definitive TRD interpretation -- and one I could hold in my hands -- I'd still maintain that my interpretation would be solid enough to withstand scrutiny. And my interpretation of why my IRA account would qualify under Por 162:

 

Anyway, sorry if this is a repeat -- but it really is pertinent for US expats, with IRAs or 401ks.

 

First, your IRA consists of contributed income, that becomes tax deferred income. That in no way subtracts from the Por 162 definer: pre 2024 income. Then, like in my case, where my IRA is a mutual stock fund, that twice a year, takes my accumulated unrealized capital gains, and converts to realized cap gains -- and income -- that now also qualifies as pre 2024 income -- and subject to Por 162.

 

So, remittances to Thailand of my IRA are, in my opinion, certainly covered by Por 162 -- and I can invoke FIFO to eliminate the 2024 cap gain reinvestment as part of that remittance.

 

So, absent anything in writing from TRD, you can safely ignore Expatthai -- and use your own brainpower to interpret things. As a gray area, why would you not give yourself the benefit of the doubt?

 

As I've previously said, if you do pay Thailand on your IRA, you still have to file with the US, who will take a tax credit for those Thai taxes -- and you'll probably be in a no net tax situation. So, my argument is from principal, not cash flow. But, as smooth as Expatthai comes across -- they still appear not to be completely above board (but, hey, they're in the business of making money).

 

 

[oldcpu]

1 hour ago, JimGant said:

Bingo. Nothing has changed from TY 2023 to TY2024, requiring a unique new form. In fact, if you look at the form for 2023, you'll see it's just boilerplate - for Tax Year at the top of the page, there's just a blank line to be filled in (unlike a US 1040, with an embedded tax year).

 

 

Well , possibly a mute point but that is not 100% the full story in regards to the English language Thailand tax forms going back to tax year 2017 (ie 2017 to 2023)..

 

I note for the English language Thai tax return forms (91) that for years 2017 to 2020, the year was hard 'printed' in the tax form on the first page. 

 

And then (as you note) for tax year 2021, 2022, and 2023, the field in the form on the first page was left 'blank' for the individual filling in the form to populate.

 

However what was not mentioned, for 2021 to 2023 tax year forms, on the last page entitled "Allowance(s) and Exemption(s) after Deduction of Expense(s) Attachment) does have the 'Tax year' hard printed. So if any use the 2023 form for a year 2024 tax return, they may be using an expense deduction page for the 'wrong' year.

 

However, having typed that, I can't see much difference in each year's tax form.

 

I tend to speculate now that we may not see much (and possibly none) difference in the 2024 tax year form, other than perhaps the last page.  But that is my speculation - where frankly, speculation is just that :  speculation.

.

 

[oldcpu]

13 minutes ago, JimGant said:

 

Expatthailand says this can only apply to foreign sourced income residing in a bank acount. Where, pray tell, did they get this interpretation?

 

 

I tend to agree with you Jim, although I concede this is only an opinion of mine with no Thailand taxation basis but rather based on Canadian taxation ,which frankly, probably has no relevance to how Thailand does such (other than my making a minor point).

 

Best I recall (although its been decades since I have done such) in Canada, for one's tax return, at the end of the taxation year, one can note the market (close of business last business day in the calendar/tax year) value of an equity, and declare that value in calculating a profit, and pay tax accordingly on that declared profit - even thou the equities were NEVER liquidated.

 

One then carries forward (for subsequent taxation years) that declared value of the equity for assessing future profits.

 

Hence it leads me to speculate (and wonder) if Thailand will accept a declared equity value of end-Dec-2023 for any equities, without the need to liquidate the equities to cash for the purpose of meeting paw.161/162 tax exemption criteria.

 

I don't know the answer.  It may be no. 

 

But I think it a viable question for many to ask as it could affect their taxation assessment.

[jwest10]

17 minutes ago, oldcpu said:

 

Well , possibly a mute point but that is not 100% the full story in regards to the English language Thailand tax forms going back to tax year 2017 (ie 2017 to 2023)..

 

I note for the English language Thai tax return forms (91) that for years 2017 to 2020, the year was hard 'printed' in the tax form on the first page. 

 

And then (as you note) for tax year 2021, 2022, and 2023, the field in the form on the first page was left 'blank' for the individual filling in the form to populate.

 

However what was not mentioned, for 2021 to 2023 tax year forms, on the last page entitled "Allowance(s) and Exemption(s) after Deduction of Expense(s) Attachment) does have the 'Tax year' hard printed. So if any use the 2023 form for a year 2024 tax return, they may be using an expense deduction page for the 'wrong' year.

 

However, having typed that, I can't see much difference in each year's tax form.

 

I tend to speculate now that we may not see much (and possibly none) difference in the 2024 tax year form, other than perhaps the last page.  But that is my speculation - where frankly, speculation is just that :  speculation.

.

 

Agree 100% oldcpu and noticed this too and back to wait and see or yet another visit to my local revenue office but been up there so many times and no you do not need to file and in any case we won't grant a Tin as you have no employment  here in Thailand
I did say got a pink ID and possibly (not sure) can use this but lie low for the minute but might go up next week!!

 

[Jingthing]

4 minutes ago, oldcpu said:

 

I tend to agree with you Jim, although I concede this is only an opinion of mine with no Thailand taxation basis but rather based on Canadian taxation ,which frankly, probably has no relevance to how Thailand does such (other than my making a minor point).

 

Best I recall (although its been decades since I have done such) in Canada, for one's tax return, at the end of the taxation year, one can note the market (close of business last business day in the calendar/tax year) value of an equity, and declare that value in calculating a profit, and pay tax accordingly on that declared profit - even thou the equities were NEVER liquidated.

 

One then carries forward (for subsequent taxation years) that declared value of the equity for assessing future profits.

 

Hence it leads me to speculate (and wonder) if Thailand will accept a declared equity value of end-Dec-2023 for any equities, without the need to liquidate the equities to cash for the purpose of meeting paw.161/162 tax exemption criteria.

 

I don't know the answer.  It may be no. 

 

But I think it a viable question for many to ask as it could affect their taxation assessment.

USA retirement accounts are very specific rules based accounts and can't logically be called the same as bank accounts or the same as investments held OUTSIDE such accounts.

That said I question the supposed Thai revenue labeling them and treating them as PENSIONS.

They aren't really pensions either.

They probably should have been included in the Thai US DTA the same as excluded social security, but we're not so lucky.

[oldcpu]

8 minutes ago, Jingthing said:

USA retirement accounts are very specific rules based accounts and can't logically be called the same as bank accounts or the same as investments held OUTSIDE such accounts.

That said I question the supposed Thai revenue labeling them and treating them as PENSIONS.

They aren't really pensions either.

 

I suspect there are many differences among the different country DTAs with Thailand on this.  Take Canada for example, where the DTA notes (I inserted the "Canada" and "Thailand" below):

 

Quote

Pensions and other similar remuneration, whether they consist of periodic or non-periodic payments, for past employment, arising in a Contracting State (Canada) and paid to a resident of the other Contracting State (Thailand) shall be taxable only in the first-mentioned State (Canada).

 

It clear - for Canadian pensions or similar remunerations, they can only be taxed by Canada.

 

The words "similar remuneration" pretty much means Canadian RRSPs and RRIFs (conceptually similar to USA 401(K) are only taxable in Canada (and Canada DOES tax them with a hefty tax) for Thailand tax residents) ...  < sigh >

 

I suspect tax would be less if they could be taxed in Thailand instead of Canada but that is not the case  < sigh > .  ... Germany DTA is better here IMHO where the German-Thai DTA gives Thailand exclusive taxation rights over German pensions for Thailand tax residents.

 

[Jingthing]

35 minutes ago, JimGant said:

 

Well, Expatthailand is, if nothing more, forthcoming:

 

Having said that, let's look at Por 162, which says:

 

 

Expatthailand says this can only apply to foreign sourced income residing in a bank acount. Where, pray tell, did they get this interpretation? I can only assume they didn;t invent it -- so maybe somebody from TRD gave them a briefing..... However, unless a definitive TRD interpretation -- and one I could hold in my hands -- I'd still maintain that my interpretation would be solid enough to withstand scrutiny. And my interpretation of why my IRA account would qualify under Por 162:

 

Anyway, sorry if this is a repeat -- but it really is pertinent for US expats, with IRAs or 401ks.

 

First, your IRA consists of contributed income, that becomes tax deferred income. That in no way subtracts from the Por 162 definer: pre 2024 income. Then, like in my case, where my IRA is a mutual stock fund, that twice a year, takes my accumulated unrealized capital gains, and converts to realized cap gains -- and income -- that now also qualifies as pre 2024 income -- and subject to Por 162.

 

So, remittances to Thailand of my IRA are, in my opinion, certainly covered by Por 162 -- and I can invoke FIFO to eliminate the 2024 cap gain reinvestment as part of that remittance.

 

So, absent anything in writing from TRD, you can safely ignore Expatthai -- and use your own brainpower to interpret things. As a gray area, why would you not give yourself the benefit of the doubt?

 

As I've previously said, if you do pay Thailand on your IRA, you still have to file with the US, who will take a tax credit for those Thai taxes -- and you'll probably be in a no net tax situation. So, my argument is from principal, not cash flow. But, as smooth as Expatthai comes across -- they still appear not to be completely above board (but, hey, they're in the business of making money).

 

 

I respect your skeptical POV.

From my POV, what you are proposing to do would be quite complicated and if there is a choice I would prefer to keep things as simple as possible, yes even if it did subject me to some probably small amount of tax. 

It's also a risky tactic from the POV of a higher likelihood of being subject to an audit. In my opinion, anyway.

You may be right. You may be wrong. I have no idea. I am not qualified to make that judgement.

I still plan to eventually see a Thai tax lawyer that I have in mind and get his opinion when this does become an issue for me (probably not for some time).

By then given he would be dealing with retired expat haven Jomtien he might actually have some insider knowledge and experience about this US retirement account issue.

Sincerely, good luck. 

[dinga]

LTR VISA  -  may not be the panacea folks seem to be assuming.

 

One takeaway from yesterday's ExpatTaxThailand Webinar was that the old Rules (pre-2024) on remittances continue to apply to LTR Visas  ie.  in order to be Non-Taxable, remittances must be made in any year other than in the year the income was earnt.   It will be Taxable if remitted in the same year it was earnt.

 

Must admit that I have not been closely following LTR implications so my takeaway may not be entirely accurate.  But it seems to me that there may be widespread misunderstanding based on ETT's clear advice yesterday.   

[oldcpu]

20 minutes ago, dinga said:

LTR VISA  -  may not be the panacea folks seem to be assuming.

 

One takeaway from yesterday's ExpatTaxThailand Webinar was that the old Rules (pre-2024) on remittances continue to apply to LTR Visas  ie.  in order to be Non-Taxable, remittances must be made in any year other than in the year the income was earnt.   It will be Taxable if remitted in the same year it was earnt.

 

Must admit that I have not been closely following LTR implications so my takeaway may not be entirely accurate.  But it seems to me that there may be widespread misunderstanding based on ETT's clear advice yesterday.   

 

I don't know "ExpatTaxThailand" but this viewpoint has been debated before with NO agreement.  I note (a translation) for the Royal Decree for Wealthy Pensioners and Wealthy Global Citizens state:

 

Quote

Section 5 Income tax under Part 2 of Chapter 3 in Title 2 of the Revenue Code shall be
exempted for a foreigner categorised as Wealthy Global Citizen, Wealthy Pensioner, or Work-
from-Thailand Professional who is granted a Long-Term Resident Visa under immigration law for
assessable income under section 40 of the Revenue Code derived in the previous tax year from
an employment, or from business carried on abroad, or from a property situated abroad, and
brought into Thailand.

 

The point those with the view of the "ExpatTaxThailand" (that you note) fail to account for, is one ALWAYS files taxes for the previous tax year.  One does NOT nominally file taxes for the current year.  So having no tax due for income derived in the previous year is no issue.

 

Frankly, IMHO, they (ExpatTaxThailand and those who agree with them) have their taxation years all mixed up.

 

Having typed that, for many of us who are Wealthy Pensioners (WP) or Wealthy Global Citizens (WGC), this has no affect, as most of our money is abroad, and waiting a year to bring in our income is zero problem. Possibly only the "Work from Thailand Professionals" (WFTP) or those who only 'barely' qualified for WP or WGC might want to watch this more closely.

 

In summary, IMHO, be sceptical about a wrong interpretation of "ExpatTaxThailand" (where this is only MY opinion).

[topt]

13 minutes ago, oldcpu said:

In summary, IMHO, be sceptical about a wrong interpretation of "ExpatTaxThailand" (where this is only MY opinion).

I must be misunderstanding something because to me the "Quote" you provided is saying that income from 2023 and remitted in 2024 would be "exempted" but not 2024 income remitted in 2024 - which is what @dinga was saying Expat tax were saying?

17 minutes ago, oldcpu said:

The point those with the view of the "ExpatTaxThailand" (that you note) fail to account for, is one ALWAYS files taxes for the previous tax year. 

I don't understand the relevance of this - probably me missing something?