I am leaving Thailand - yes taxes!!!

[Will B Good]

2 minutes ago, oldcpu said:

There is a specific amount of annual THB assessable income that a tax resident of Thailand must receive before they are required to file a Thai tax return.

 

Is that anything in excess of their allowance having also taken into account any tax credits......in my case from the UK?

[oldcpu]

59 minutes ago, Will B Good said:

 

Is that anything in excess of their allowance having also taken into account any tax credits......in my case from the UK?

I am not from the UK.

 

You should check the UK-Thailand DTA as to what it states in regard to your UK income type and source.

[Will B Good]

Just now, oldcpu said:

I am not from the UK.

 

You should check the UK-Thailand DTA as to what it states in regard to your UK income type and source.

 

Cheers, but if you are remit less than your allowance do you still need to file a tax return to show that is the case?

[oldcpu]

9 minutes ago, Will B Good said:

 

Cheers, but if you are remit less than your allowance do you still need to file a tax return to show that is the case?

 

 Allowance?  Cheers , but I don't know what you mean.  Did you check the Thai-UK DTA?

 

[Will B Good]

Just now, oldcpu said:

 

 Allowance?  Cheers , but I don't know what you mean.  Did you check the Thai-UK DTA?

 

 

The allowances granted by the Thai RD.....personal allowance, married to a Thai, over 65, those allowances.

[oldcpu]

2 minutes ago, Will B Good said:

 

The allowances granted by the Thai RD.....personal allowance, married to a Thai, over 65, those allowances.

 

Again, check the Thai-UK DTA.   https://www.rd.go.th/fileadmin/download/nation/english_e.pdf

[BusyB]

On 1/17/2025 at 4:42 AM, Celsius said:

 

It's not taxes, it's paperwork that annoys me.

 

I signed up for yearly visa extensions and 90 day reports which I don't do, just pay a fine.

 

I did not sign up to do annual taxes to Thai government, bill or no tax bill.

 

Poor thing.

[Presnock]

14 hours ago, Phillip9 said:

 

Even if you have no income???  

wrong - most "announcements" are taken out of context it seems to me.  The TRD still says no assessable income does not need a tax id nor file income tax forms.  They too I am sure realize that if EVERY tax resident filed then the majority would probably not have any tax due but would inundate every trd officer for years to come just for this year alone IMHO.  But, if YOU want to file, please enjoy that effort.

[Thingamabob]

On 1/17/2025 at 9:48 AM, Celsius said:

I know already ... no need to announce my departure. Hear me out!!!!

 

I was chatting with my friend from Serbia who came to visit, and she basically looked at me like I was an idiot and asked, "Why on earth are you declaring your Toronto condo rental to Canada?!" (And that was just the tip of the iceberg.) She was like, "Why bother filing taxes in Canada when you don’t even live there?!" It was a rapid-fire "Why this?" and "Why that?" like I had just invented a new form of self-sabotage.

 

Then I realized I'm surrounded by the same woke individuals who are desperately scrambling to file a tax return here in Thailand out of all places.

 

I hope Thailand implements 8 million baht retirement extension and 15 day report. You deserve it.

 

I'm out and I'll be watching that door thanx in advance.

 

 

Good bye and good riddance...

[SupermaNZ]

On 1/17/2025 at 9:48 AM, Celsius said:

I know already ... no need to announce my departure. Hear me out!!!!

 

I was chatting with my friend from Serbia who came to visit, and she basically looked at me like I was an idiot and asked, "Why on earth are you declaring your Toronto condo rental to Canada?!" (And that was just the tip of the iceberg.) She was like, "Why bother filing taxes in Canada when you don’t even live there?!" It was a rapid-fire "Why this?" and "Why that?" like I had just invented a new form of self-sabotage.

 

Then I realized I'm surrounded by the same woke individuals who are desperately scrambling to file a tax return here in Thailand out of all places.

 

I hope Thailand implements 8 million baht retirement extension and 15 day report. You deserve it.

 

I'm out and I'll be watching that door thanx in advance.

 

 

Sad to hear that you feel this way.  The modern approach to international taxation is via Tax Treaties which aim to ensure an equitable approach to taxation throughout the world, while expressly avoiding double taxation.  The following is not tax advice - just my understanding of the situation.  If you have paid tax in Canada - you will not be subject to further tax in Thailand.  If you receive a superannuation payment which would normally be taxable in Canada (but was not taxed due to any application made by you prior to your departure from your country for it to be untaxed) - you are then (naturally) subject to taxation on that income in Thailand.  As the tax rate in Thailand is (almost certainly) lower than that in most other developed countries - you are still on the positive side of the ledger, so to speak.  It seems that the lack of clarity provided by Thai taxation authorities has led to unnecessary confusion and concern. Best of luck for your future plans .....

[madone]

23 hours ago, Celsius said:

The life in Thailand can turn a nightmare for you overnight as retirees in Malaysia found out.

 wtf does this even mean?

[oldcpu]

1 minute ago, madone said:

 wtf does this even mean?

 

Malaysia changed their tax implementation that affected foreigners living there.

[oldcpu]

On 1/17/2025 at 9:48 AM, Celsius said:

I was chatting with my friend from Serbia who came to visit, and she basically looked at me like I was an idiot and asked, "Why on earth are you declaring your Toronto condo rental to Canada?!" (And that was just the tip of the iceberg.) She was like, "Why bother filing taxes in Canada when you don’t even live there?!" It was a rapid-fire "Why this?" and "Why that?" like I had just invented a new form of self-sabotage.

 

Canada has always tried to make a global reach on taxing Canadian citizens. Possibly Revenue Canada looks to the south and observes USA taxing its citizens globally, and maybe is jealous?   However the Canadian policy is to only tax residents (and accordingly Canada lays down strict requirements as to what interests in Canada one must divest to no longer be considered a Canadian resident).

 

Any income sourced in Canada is taxed in Canada. That is Canada's policy.

 

Further anyone who is a Canadian resident, is taxed on their global income AND must report their global assets to Canada. This is nothing new - its been that way since I first started submitting Canadian tax returns back in the early 1970s.

 

Further, Canada wants to know the global income of non-residents to Canada (if those non-residents to Canada have any Canadian sourced income).  Canada wants this so they can tune the tax rate/bracket for any Canadian sourced income of the non-residents to Canada (who have Canadian income).

 

But Thailand? 

 

Despite all the hype and concern, Thailand is a breath of fresh air for anyone trying to manage their tax exposure differently from what they experienced in Canada.  Thailand does not (yet) tax global income of Thailand tax residents if the money stays outside of Thailand (in contrast to Canada).

 

Thailand also has agreed to DTAs (Royal Decree 18 generically calls the DTAs) can have tax exemptions to Thai taxation in cases.  Canada is one such case (Canadian pensions shall ONLY be taxed in Canada and not in Thailand).  Further Thailand has a ministerial directive (Por-161/162)  that notes any income/savings earned/saved from before 1-Jan-2024, if remitted to Thailand any time in the future  will not be taxed in Thailand.  Thailand has even a long term visa (LTR-WP - Royal Decree 743) for Wealthy Pensioners where foreign income will not be taxed when remitted to Thailand.

 

That is NOT to say Thailand has the best tax regime in the world for one looking to legally reduce their tax exposure.  But its better than Canada.

 

On 1/17/2025 at 9:48 AM, Celsius said:

I'm out and I'll be watching that door thanx in advance.

 

Best wishes (and I type that honestly with a good heart) in finding a country with a tax regime you like.  I do honestly hope you succeed and enjoy yourself. There are great places in this world

 

Please thou, keep in mind other factors than just the money/tax.  ie hospital quality.  crime rate.  food quality.  etc ... 

 

And if you are still young enough to not mind traveling for long durations, then 5-months in Thailand, 5-months in country-A, and 2-months in country-B could be a good approach for you.  That does not appeal to me (I am getting too old and comfortable in my condo in southern Thailand) but it might be a great option for you.  The world is full of great places, and taking the opportunity to see them and spend time in them is a dream of many of us.

 

Again - all the best wishes.

 

 

[Eaglekott]

On 1/17/2025 at 9:48 AM, Celsius said:

I know already ... no need to announce my departure. Hear me out!!!!

 

I was chatting with my friend from Serbia who came to visit, and she basically looked at me like I was an idiot and asked, "Why on earth are you declaring your Toronto condo rental to Canada?!" (And that was just the tip of the iceberg.) She was like, "Why bother filing taxes in Canada when you don’t even live there?!" It was a rapid-fire "Why this?" and "Why that?" like I had just invented a new form of self-sabotage.

 

Then I realized I'm surrounded by the same woke individuals who are desperately scrambling to file a tax return here in Thailand out of all places.

 

I hope Thailand implements 8 million baht retirement extension and 15 day report. You deserve it.

 

I'm out and I'll be watching that door thanx in advance.

 

 

I believe that Canada and Thailand has a Tax agreement and unless Taxes in Thailand is higher than Toronto you would not need to pay any taxes here.

[black tabby12345]

Hope you didn't jump the conclusion...

[KhunHeineken]

On 1/21/2025 at 5:38 AM, Eaglekott said:

I believe that Canada and Thailand has a Tax agreement and unless Taxes in Thailand is higher than Toronto you would not need to pay any taxes here.

That's the DTA myth. 

 

I posted this in another thread.  I'll post it again here for you.