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? ).

[KhunHeineken]

On 1/18/2025 at 1:45 PM, Yellowtail said:

Which means nothing. Do you understand what remittances are? 

Do you understand what Worldwide Taxation is? 

[Yellowtail]

Just now, KhunHeineken said:

Do you understand what Worldwide Taxation is? 

That was the theme of the Democratic Convention this year, yes? 

 

What did I win?  

[KhunHeineken]

3 hours ago, Yellowtail said:

What did I win? 

Your prize in in the mail. 

 

You won the right to be taxed on your world wide income.  Congratulation.   

[CallumWK]

26 minutes ago, KhunHeineken said:

Your prize in in the mail. 

 

You won the right to be taxed on your world wide income.  Congratulation.   

 

Where is your source link that worldwide taxation is already enforced? I ASSume it is the same link that shows that return filings will be linked to extension renewals, about which you already made probably 100 claims, and which are nothing more than false claims

[KhunHeineken]

21 minutes ago, CallumWK said:

Where is your source link that worldwide taxation is already enforced?

Did you not see my post where I said it's "in the mail?" 

 

22 minutes ago, CallumWK said:

I ASSume it is the same link that shows that return filings will be linked to extension renewals, about which you already made probably 100 claims, and which are nothing more than false claims

It's  not if, just when.

 

This tax policy will evolve.  2025 is just the start.

 

You remind me of all the guys that said cannabis would never be legalized.     

[oldcpu]

2 minutes ago, KhunHeineken said:

Did you not see my post where I said it's "in the mail?"

 

 

I recall that joke.  When something never shows up and  one asks: where is it?  The answer usually is: Its in the mail. 

[KhunHeineken]

18 hours ago, oldcpu said:

 

I recall that joke.  When something never shows up and  one asks: where is it?  The answer usually is: Its in the mail. 

Sometimes it can turn up, just a little latter than expected. 

 

Governments all around the world are broke.  They are looking for every bit of revenue they can find. 

[TallGuyJohninBKK]

On 1/15/2025 at 12:08 PM, Jingthing said:

Also taxed in Thailand so you get credits.

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

 

 

Jing, this whole mess keeps getting stranger and stranger...

 

Yes, the US-Thai DTA seemingly does not give any Thai tax protection for U.S. IRA and Roth IRA accounts if funds from those are remitted into Thailand by someone who's become a Thai tax resident.

 

However -- and this is the first I've heard of this -- I saw a YT video the other day from last fall during which the American tax consultant guy here in BKK (Thomas Carden) said they had been told by someone in the TRD at some point that their general policy was going to be that they would treat tax-exempt instruments from the U.S. as tax exempt in Thailand... which would apply to remittances from a U.S. Roth account -- if the TRD actually sticks to what Carden claimed they were saying at one point.

 

That's a notion I don't think I've ever heard anyone say before in this whole mess... And who knows whether in fact that's still, or ever was, the TRD's interpretation.

 

[NoDisplayName]

40 minutes ago, TallGuyJohninBKK said:

I saw a YT video the other day from last fall during which the American tax consultant guy here in BKK (Thomas Carden) said they had been told by someone in the TRD at some point that their general policy was going to be that they would treat tax-exempt instruments from the U.S. as tax exempt in Thailand...

 

Why would they do that if the point of the exercise is to broaden the tax base and bring in more funds?

 

Why would Thailand unilaterally give up taxing rights if they have authority to tax under the DTA?

 

 

[TallGuyJohninBKK]

Here's a link to the YT video I mentioned above regarding U.S tax-exempt Roth IRAs, time keyed to that specific comment from Carden that begins at the 26 minutes, 45 seconds point and continues thru about the 27 minutes, 40 seconds point:

 

https://youtu.be/K-2sAgFNgVE?t=1604

 

 

 

I'm not claiming Carden's comment from last fall is accurate or that it's the Thai RD's current position on the matter. I have no idea on either front. I'm mentioning and reposting the comment here, solely because it's the first time I've ever heard that kind of interpretation being discussed.

 

As best as I understand it, Roth IRAs only came into being AFTER the adoption of the current Thai-U.S. tax treaty. My document shows the Thai-U.S. tax treaty was signed by the parties in November 1996, whereas Roth IRAs were only created by U.S. law in 1997 and first became available in 1998.

 

 

[Jingthing]

1 hour ago, TallGuyJohninBKK said:

Here's a link to the YT video I mentioned above regarding U.S tax-exempt Roth IRAs, time keyed to that specific comment from Carden that begins at the 26 minutes, 45 seconds point and continues thru about the 27 minutes, 40 seconds point:

 

https://youtu.be/K-2sAgFNgVE?t=1604

 

 

 

I'm not claiming Carden's comment from last fall is accurate or that it's the Thai RD's current position on the matter. I have no idea on either front. I'm mentioning and reposting the comment here, solely because it's the first time I've ever heard that kind of interpretation being discussed.

 

As best as I understand it, Roth IRAs only came into being AFTER the adoption of the current Thai-U.S. tax treaty. My document shows the Thai-U.S. tax treaty was signed by the parties in November 1996, whereas Roth IRAs were only created by U.S. law in 1997 and first became available in 1998.

 

 

Expat tax Thailand is very clear that Roth IRA remittances are taxable in Thailand. 

The firm you show did a much more recent expat club gig and no mention of Roths being exempt. 

[anrcaccount]

7 hours ago, TallGuyJohninBKK said:

Here's a link to the YT video I mentioned above regarding U.S tax-exempt Roth IRAs, time keyed to that specific comment from Carden that begins at the 26 minutes, 45 seconds point and continues thru about the 27 minutes, 40 seconds point:

 

https://youtu.be/K-2sAgFNgVE?t=1604

 

 

 

I'm not claiming Carden's comment from last fall is accurate or that it's the Thai RD's current position on the matter. I have no idea on either front. I'm mentioning and reposting the comment here, solely because it's the first time I've ever heard that kind of interpretation being discussed.

 

As best as I understand it, Roth IRAs only came into being AFTER the adoption of the current Thai-U.S. tax treaty. My document shows the Thai-U.S. tax treaty was signed by the parties in November 1996, whereas Roth IRAs were only created by U.S. law in 1997 and first became available in 1998.

 

 

 

If the TRDs position is that Roth IRA remittances were taxable, they'd have been taxable every year for the past 20+ years.

 

So, what's changed?  The POR updates have no relevance to this, if it's considered pension income it's always been remitted same year earned so should always have been taxed.

 

You think anyone has ever paid tax on an IRA Remittance to Thailand?

 

Why are people seeming to rush in to be he first to do so?

 

The mind boggles.

 

[TallGuyJohninBKK]

11 hours ago, Jingthing said:

The firm you show did a much more recent expat club gig and no mention of Roths being exempt.

 

In that Pattaya session you mentioned, did Carden say he now believes Roth IRA remittances ARE Thai taxable, or he didn't specifically mention Roths?

[KhunHeineken]

21 hours ago, NoDisplayName said:

Why would they do that if the point of the exercise is to broaden the tax base and bring in more funds?

They wouldn't. 

 

21 hours ago, NoDisplayName said:

Why would Thailand unilaterally give up taxing rights if they have authority to tax under the DTA?

They wouldn't.