what money is taxed 2024 ?

[Airalee]

33 minutes ago, Jingthing said:

Roth IRAs are not taxed in the US but are taxed  in Thailand.

Ouch

[Jingthing]

7 minutes ago, Yellowtail said:

Have you gotten a notice saying there has been a change and that you are now required to file? 

 

Do you not think it would be very easy to notify expats of the change? 

 

That's not how the system.works.

It's based on Thai tax residents doing a self assessment.

I have done so and know I don't need to file but will at a future year.

It's entirely dependent on your individual case.

[Yellowtail]

1 minute ago, Airalee said:

Ouch

Bew sure to transfer from your brokerage account to your bank, and then from the bank to Thailand. 

[Jingthing]

2 minutes ago, Airalee said:

Ouch

Yes but I think you can file a US form to refund that but not yet sure of that.

[hotandsticky]

2 minutes ago, Jingthing said:

That's now how the system.works.

It's based on Thai tax residents doing a self assessment.

I have done so and know I don't need to file but will at a future year.

It's entirely dependent on your individual case.

 

 

now, or "not"?

[dingdongrb]

40 minutes ago, kimothai said:

These are already taxed in America.

Is that North America, South America, or Central America?

[CMBob]

2 minutes ago, Airalee said:

I’d prefer to hear the details laid out explicitly by the government rather than  an accountant who would most likely want to charge you a large chunk of money for his/her interpretation of the law that may or may not be correct.

 

 

A one hour consult or less can't be that expensive.  I'm ultimately seeking a written opinion saying (1) I have no need to file a 2024 Thai income tax return because I remitted no money to Thailand in 2024, and (2) that in future years, if remitting only social security income, that either that alone means no filing is required and/or that no Thai tax would be owed due to the Thai/US tax treaty.

 

I have no intention of having any accountant file anything for me (I can take care of that myself).  And, just in the off chance the Thai revenue department ever asks any questions, I'd like to have an accountant's opinion to show them why I haven't filed and/or why I claim no tax is due).  Again, just a safety precaution that shouldn't be very expensive.

[Jingthing]

7 minutes ago, Airalee said:

I’d prefer to hear the details laid out explicitly by the government rather than  an accountant who would most likely want to charge you a large chunk of money for his/her interpretation of the law that may or may not be correct.

 

 

Doubtful we'll get that.

[kimothai]

3 minutes ago, Jingthing said:

You're misinformed. 

That is not what having a dta means.

DTA?  I thought this about retirees living in Thailand (on retirement visa).

[Jingthing]

2 minutes ago, hotandsticky said:

 

 

now, or "not"?

Not

[kimothai]

2 minutes ago, dingdongrb said:

Is that North America, South America, or Central America?

USA

[Jingthing]

1 minute ago, kimothai said:

DTA?  I thought this about retirees living in Thailand (on retirement visa).

Having retirement status here is irrelevant. 

 

[flexomike]

45 minutes ago, kimothai said:

These are already taxed in America.

That doesn't make any difference if you bring assessable income into Thailand it could be subject to taxation.

[TimBKK]

28 minutes ago, Celsius said:

Another tool goes to revenue department to ask questions. Revenue departments confirms for the millionth time foreigners who don't work in Thailand don't have to pay tax.

 

If you really want to pay tax, just file a tax return and give them money. Leave the rest of us ALONE.

 

 

The irony of you referring to another poster as a tool is rich.  

[Yellowtail]

If funds remitted to Thailand were taxable, the first thing the government would do is mandate that the bank withhold the tax from the remittance and put the onus on the recipient to show that it is not taxable. 

 

 

[TimBKK]

39 minutes ago, Yellowtail said:

How does the Thai government know where the funds you transfer into the country come from? 

CRS?  If your country is party to CRS Thailand could, in theory at least, request your financial data.  

[kimothai]

4 minutes ago, Jingthing said:

Having retirement status here is irrelevant. 

 

I understand that 180 days is the cutoff point, but the original post was about retires (who are in Thailand for 180 days).  There was no mention of DTA.

[Yellowtail]

Just now, TimBKK said:

CRS?  If your country is party to CRS Thailand could, in theory at least, request your financial data.  

And how would my financial data show where the money I transfer to Thailand came from originated? 

 

They could probably get my earnings and my US returns. 

[kimothai]

7 minutes ago, flexomike said:

That doesn't make any difference if you bring assessable income into Thailand it could be subject to taxation.

"could be".  I will assume that it's not until I'm told directly.  I'll take my chances because I feel this whole Thai tax scenario has been vastly overblown by the media and doesn't apply to me (or most people) due to Double taxation treaties. 

[TimBKK]

1 minute ago, Yellowtail said:

And how would my financial data show where the money I transfer to Thailand came from originated? 

 

They could probably get my earnings and my US returns. 

The U.S. is not party to CRS.

[flexomike]

Just now, kimothai said:

"could be".  I will assume that it's not until I'm told directly.  I'll take my chances because I feel this whole Thai tax scenario has been vastly overblown by the media and doesn't apply to me (or most people) due to Double taxation treaties. 

unless you are getting all of your money from government pensions and or Social Security the DTA for the US is usless.

[zepplin]

1 hour ago, jensmann said:

Due to the DTA between Germany and Thailand my Pension is taxable in Thailand.

Udon Thani Revenue Office !!!

Now you really think that Thailand has expert tax agents, that are fluent in 30 plus languages, know everything about how and when your income was earned, and can tell you the aloof tax due?

if so I have front row tickets to the new F1 track they are buil on Samui right now !

[Yellowtail]

Just now, flexomike said:

unless you are getting all of your money from government pensions and or Social Security the DTA for the US is usless.

It has not been my experience that any income falls outside of the double tax agreement. Even if you earn income in Thailand that is taxed in the US.

 

 

[jwest10]

34 minutes ago, anrcaccount said:

 

It's only a "mess" and a "shambles" on this forum and others, where people due to reading the vast quantity of rubbish posted, start being fearful, and then trudge off down to the TRD, or into some predatory tax agencies office.

 

In the real world at the TRD, it's business as usual, status quo. Same as last year, and the year before, and the one before that......

 

 

 

 

There is no angry sign???

[jwest10]

38 minutes ago, Yellowtail said:

I think nine. 

 

 

Where did you get that information from as a matter of interest ?

[Celsius]

47 minutes ago, TimBKK said:

The irony of you referring to another poster as a tool is rich.  

 

All of you bootlickers going to Thai tax department are the same like Western wokensteins going to Isis begging them to behead you because you are not Muslim.

 

Insane. 

[Jingthing]

18 minutes ago, kimothai said:

I understand that 180 days is the cutoff point, but the original post was about retires (who are in Thailand for 180 days).  There was no mention of DTA.

Tax residency is indeed based on the 180 rule.

A person with retirement status in Thailand could be a Thai resident or could not be based on the above.

A foreigner retired in Thailand comes from another nation.

That nation may have a DTA with Thailand and may not.

If his nation does have a DTA the specifics of his nation's DTA are relevant to his self assessment.

Typically but not always retired expats will have remittances into Thailand of one or various kinds.

The tax accessability in Thailand of those remittances depend on the the specific sourse of those funds.

For example a remittance based on a profitable stock sale is profit taxable in Thailand. 

A remittance based on an excluded retirement income type might be taxable in Thailand and might not be based on the specifics of your nation's DTA, if any.

Legally it is the responsibility of all Thai tax residents to do a self assessment of their specific situation. If that's complicated, you might need to pay for help with that.

[Phillip9]

12 minutes ago, flexomike said:

unless you are getting all of your money from government pensions and or Social Security the DTA for the US is usless.

 

Not true at all.  There are other categories of income that are not taxed in Thailand.  For example, if you own a business in the US, and it has no physical presence in Thailand, income from that business is only taxable in the US.  Read the whole US Thailand tax treaty.  There is a lot in it.

[Jingthing]

37 minutes ago, Yellowtail said:

If funds remitted to Thailand were taxable, the first thing the government would do is mandate that the bank withhold the tax from the remittance and put the onus on the recipient to show that it is not taxable. 

 

 

The Thai tax system is based on self assessment. 

Expats are free to not bother to do a sincere self assessment and just assume they aren't subject to Thai tax, and based on the enforcment policies of their office (we can't possibly know that yet) they may probably get away with that even if they did really owe tax.

But audits could come later, and then you would need detailed records to show regardless and ignorance of the law would not be a valid excuse.

I used to be of the opinion just to ignore all this but have come to the conclusion that's  worthwhile to be adult about this, learn about my specific situation as much as possible, start to keep detailed records in view of possible audits, and to do sincere self assessments.

That's NOT the same thing as goading expats to rush out to get a TIN when their self assessment says they don't need one (or to file).

I will get a TIN only when I really need one. 

[The Cyclist]

2 minutes ago, Jingthing said:

Legally it is the responsibility of all Thai tax residents to do a self assessment of their specific situation. If that's complicated, you might need to pay for help with that.

 

Now we are getting somewhere.

 

The UK, a CRS Country requires all foreigners to complete Self Assessment 100 ( SA100 )

 

File in your personal details and check 1 box, No 5, Foreign income.

 

Fill in Self Assessment 106 ( SA106 ) which is 6 pages long and covers every type of income, tax already paid on that income and whether that income is subject to a DTA.

 

I still think this page has not been updated yet

 

https://www.rd.go.th/english/65308.html

 

simply because they haven't finalised the paperwork yet.