what money is taxed 2024 ?

[Millian]

On 1/15/2025 at 12:54 PM, 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. 

 

 

 Other countries such as the UK don't do that though 

[Yellowtail]

2 minutes ago, Millian said:

 Other countries such as the UK don't do that though 

Are funds remitted to the UK taxable? I think not. 

[Millian]

Sounds like they are

 

https://www.litrg.org.uk/international/uk-tax-uk-residents-foreign-income-and-gains

[Yellowtail]

Just now, Millian said:

Sounds like they are

 

https://www.litrg.org.uk/international/uk-tax-uk-residents-foreign-income-and-gains

Not very convincing 

[Millian]

How about this? https://www.telegraph.co.uk/financial-services/currency-exchange/international-money-transfers/tax-on-foreign-income-uk/

[Yellowtail]

1 minute ago, Millian said:

How about this? https://www.telegraph.co.uk/financial-services/currency-exchange/international-money-transfers/tax-on-foreign-income-uk/

What does it say? 

[Millian]

Or how about the horses mouth? 

 

https://www.gov.uk/tax-foreign-income/residence

 

"Residents normally pay UK tax on all their income, whether it’s from the UK or abroad. But there are special rules for UK residents whose permanent home (‘domicile’) is abroad."

[Yellowtail]

1 minute ago, Millian said:

Or how about the horses mouth? 

 

https://www.gov.uk/tax-foreign-income/residence

 

"Residents normally pay UK tax on all their income, whether it’s from the UK or abroad. But there are special rules for UK residents whose permanent home (‘domicile’) is abroad."

Which means nothing. Do you understand what remittances are? 

[Millian]

Yes when you send money.

 

 

[Yellowtail]

7 minutes ago, Millian said:

Yes when you send money.

 

 

Sort of. Is that money taxed? 

[Millian]

Depends where you have sent it to and from?

 

You may have already paid tax on it, you may be liable to pay tax on it.

[Yellowtail]

3 minutes ago, Millian said:

Depends where you have sent it to and from?

 

You may have already paid tax on it, you may be liable to pay tax on it.

But is not taxed just because it is a remittance. 

[Millian]

No.

 

And that seems to go against your suggestion they would just tax it all remittances in thailand.

 

It's the same in thailand as other counties, some remittances are liable for tax, others are not. 

 

https://www.rd.go.th/fileadmin/user_upload/lorkhor/newspr/2024/FOREIGNERS_PAY_TAX2024.pdf

 

[Yellowtail]

11 hours ago, Millian said:

No.

 

And that seems to go against your suggestion they would just tax it all remittances in thailand.

 

It's the same in thailand as other counties, some remittances are liable for tax, others are not. 

 

https://www.rd.go.th/fileadmin/user_upload/lorkhor/newspr/2024/FOREIGNERS_PAY_TAX2024.pdf

 

No, Remittances are not taxable. Income is taxable. 

[jwest10]

Anyone with any further news on non-existent tax forms or any notification and saw someone via friend this morning and telling  do not worry too much as if.

[oldcpu]

6 hours ago, Yellowtail said:

No, Remittances are not taxable. Income is taxable. 

 

Except if audited the Thai RD may assume remittances are current year income, and it is best to keep records to prove such is not current year income (consider is such is assessable or non-assessable given other factors such as is money pre-1-Jan-2024? is money 'protected' from Thai tax by a very specific DTA clause? is one on an LTR visa? ).