What are your experiences with the new tax laws?????

[statman78]

59 minutes ago, TheAppletons said:

 

  Presumably, then, your accountant filed a Thai tax return showing zero assessable income and thus zero tax owed?  

Yes

[worrab]

19 hours ago, CK1980 said:

So, if you are getting paid by a UK company but stay in Thailand for over 180 days then you pay tax in Thailand and the DTA will avoid paying tax in the UK. I may be wrong.

Under DTA, you will pay tax in UK. It is very, very difficult to opt out of paying tax in UK, if not impossible! Then as a Thai tax resident, the tax paid in UK will be credited against any tax owing in Thailand. Proof of this would be a P60. 
Therefore you have only paid the tax once and no tax to pay in Thailand.

[Sandboxer]

Would you go to a crocodile show here and be that one volunteer from the audience who sticks his head into a dinosaur's mouth, trusting the words of a "professional" Thai croc trainer that everything will be "no plomplem"..???

 

If yes, the go right ahead you silly little tax simps.

[ElwoodP]

Off topic posts removed.

[JimGant]

23 hours ago, Presnock said:

Now the US is changing some tax laws so that those Americans being tax resident in foreign  countries can opt out of US taxes and just pay Thailand

What are you talking about? Certainly not the Earned Income Tax Credit, which has been around 50 years? And, I got a 'no joy' when I tried to log into your 'taxpayer advocate' link....

 

Nope. The 'saving clause' found in all US DTAs allows the US to tax all income regardless of what the DTA says (with a few exceptions, like alimony). Yes, in these situations the US is secondary tax authority -- and has to reduce its tax bill with a credit for Thai taxes paid.  But there is no option to "opt out" for filing and paying US taxes (if not overwhelmed by the tax credit).

 

I hope you're not referring to the Thomas Carden scheme, where he maintains (incorrectly) that there's an exclusion in the Thai-US DTA, allowing a US citizen, who's a Thai tax resident, to not pay US taxes on his IRA cashout, remitted to Thailand?

[ukrules]

6 hours ago, topt said:

Well there is definitely a difference of opinion amongst both posters on here and a couple of the "tax"advisory companies. 

ExpatTax believe it to only be savings in the bank for example.

 

They're wrong if they are saying this, the taxable event and the date it happens is all that matters.
 

[khunPer]

On 2/10/2025 at 10:56 AM, jingjai9 said:

Any stories from people who have already filed their Thai taxes?

 

Any warnings we should know about?

 

Any useful information to pass on?

There is another AN-thread here with some quite helpful information: