Thai Tax Laws for Expats: the Practical Implications versus the Realities

[KhunHeineken]

9 minutes ago, Jingthing said:

You never know until you know.

As you say, This is Thailand, and as I say, they have foreigners by the b*lls here. 

 

They don't want you to "know."  They want you on a string, like a puppet, so at any time of their choosing, they can make you dance. 

 

No problem for me to do 179 days in Thailand, should they seek to screw me.  Others are not so lucky to have such freedom of movement, but they made their choice and ill have to live with it.  Something I am sure the Thai's will take advantage of. 

[Jingthing]

2 minutes ago, KhunHeineken said:

As you say, This is Thailand, and as I say, they have foreigners by the b*lls here. 

 

They don't want you to "know."  They want you on a string, like a puppet, so at any time of their choosing, they can make you dance. 

 

No problem for me to do 179 days in Thailand, should they seek to screw me.  Others are not so lucky to have such freedom of movement, but they made their choice and ill have to live with it.  Something I am sure the Thai's will take advantage of. 

Well I'm not at your level of paranoia but certainly if you fail to comply with what we know now is technically the Thai tax system hoping they aren't serious, you are making yourself potentially vulnerable to bad things happening later.

[KhunHeineken]

11 minutes ago, Jingthing said:

Well I'm not at your level of paranoia but certainly if you fail to comply with what we know now is technically the Thai tax system hoping they aren't serious, you are making yourself potentially vulnerable to bad things happening later.

No paranoia here. 

 

Thailand is an unstable, 3rd World Country.  I have always known my stay here could end at any time, through no fault of my own.  It's as corrupt as f**k here. 

 

That retirement visa / extension is nothing more than a 12 month tourist visa. 

 

I already had a Plan B escape even before I started living here full time.

 

Unfortunately, for many who are on more than just a pension, the cost of staying in Thailand appears to be going up, by way of this tax, or, they leave for 6 months of the year.   I feel many will be facing a tough decision in the future.

[Jingthing]

1 hour ago, KhunHeineken said:

No paranoia here. 

 

Thailand is an unstable, 3rd World Country.  I have always known my stay here could end at any time, through no fault of my own.  It's as corrupt as f**k here. 

 

That retirement visa / extension is nothing more than a 12 month tourist visa. 

 

I already had a Plan B escape even before I started living here full time.

 

Unfortunately, for many who are on more than just a pension, the cost of staying in Thailand appears to be going up, by way of this tax, or, they leave for 6 months of the year.   I feel many will be facing a tough decision in the future.

Well our views are actually pretty close. 

Of course retirement extensions can never bring residence security. I'm also big on plan b and plan c and plan d.

Happy travels.

[RSD1]

6 hours ago, KhunHeineken said:

The numbers have been crunched, and crunched, and crunched, several times in the past.

 

Most pensions from around the world go over the threshold, meaning, there will be some tax to pay, however small, but some tax to pay, should the whole pension be remitted every month, government service pensions aside, which many DTA's seem to exempt. 

Sorry, I should've added some caveats to my previous posts.
 

The 210,000 tax-exempt threshold I have been talking about applies to single individuals under 65. For those over 65, higher deductions apply, as they qualify for additional exemptions. Married individuals also benefit from higher deductions.

 

However, retirees living on an overseas pension and transferring it monthly into Thailand are likely to exceed the annual tax-exempt limits as you noted.
 

While the general threshold of 210,000 I gave is also a useful guideline, actual exemptions will vary based on age, marital status, and personal circumstances.

[Presnock]

14 hours ago, oldcpu said:

 

There are limits to what accounts OECD via CRS has access to.

 

For example:

 

In the Canadian agreement with OECD it is quite clear that information on Canadian government regulated accounts for individuals (ie registered Canadian tax free accounts for money growth such as RRSPs, RRIFs and some others) are NOT reported to OECD  via CRS, and Canada is under no obligation to provide such to OECD.

 

Thailand has a similar agreement for Thai government regulated accounts of individuals.  

 

That may be a mute point - but I thought it important to make the observation that all information on all accounts is NOT provided via CRS to OECD.

excellent information as some of us only know about our own govt regs so ignore what others might be looking for or provide something that is not universal in response to a question!