13 hours ago, marino28 said:

I consider you very knowledgeable. Do you really think worldwide taxation is possible? From what I read in the article, I was hoping for exemptions, not new taxes.

 

 

Well I am a total novice in anything to do with the OECD but when I read the last few notes on this forum, I googled the OECD and personal income taxation - YOU sound like a novice compare to all the data the OECD has on personal income taxation around the world and one of their touted reasons for the 2023 agreement was for people not paying their required taxes and/or money laundering.  Anyway, Thailand obviously wants to join the OECD as well as other international organizations and conforming to the majority of tax programs, will probably continue changing the financial situation here.  

6 hours ago, Presnock said:

Well I am a total novice in anything to do with the OECD but when I read the last few notes on this forum, I googled the OECD and personal income taxation - YOU sound like a novice compare to all the data the OECD has on personal income taxation around the world and one of their touted reasons for the 2023 agreement was for people not paying their required taxes and/or money laundering.  Anyway, Thailand obviously wants to join the OECD as well as other international organizations and conforming to the majority of tax programs, will probably continue changing the financial situation here.  

Agree that Thailand's motivation for many of these recent actions (banks, TRD, etc.) is OECD. For those unaware about the OECD Global Tax Deal - it is here in a 2023 announcment https://www.oecd.org/en/about/news/press-releases/2023/07/138-countries-and-jurisdictions-agree-historic-milestone-to-implement-global-tax-deal.html 

 

It is primarily intended to create a level income tax playing field for multinational coprorations (15%) to stablize things and avoid these guys looking for a tax haven race to the bottom.  It's been an uphill climb though and Trump has signed an Exec Order to pull out of it a few weeks ago. Here: https://www.whitehouse.gov/presidential-actions/2025/01/the-organization-for-economic-co-operation-and-development-oecd-global-tax-deal-global-tax-deal/ 

 

However, personal income tax in OECD member countries is also an OECD priority area of concern too. See here https://www.oecd.org/en/data/indicators/tax-on-personal-income.html 

 

Again all relavent to Thailand too.

 

Hope this is helpful.

R.

Huh?  Why in the world would this policy encourage Thai nationals to send their money back to Thailand to have it taxed?   Likely many will do just the opposite--leave the money abroad, and untaxed.

1 hour ago, newnative said:

Huh?  Why in the world would this policy encourage Thai nationals to send their money back to Thailand to have it taxed?   Likely many will do just the opposite--leave the money abroad, and untaxed.

If the changes he has in mind continue with taxing only remittances, then you're right - no incentive. But if he plans to tax them (and us) on all global income each tax year, then there might be fewer benefits to leaving their cash overseas. But who knows for sure. Need to wait and see.

17 hours ago, ronnie50 said:

If the changes he has in mind continue with taxing only remittances, then you're right - no incentive. But if he plans to tax them (and us) on all global income each tax year, then there might be fewer benefits to leaving their cash overseas. But who knows for sure. Need to wait and see.

The topic and signals from the finance department suggests easing everseas income Tax rules.

Tax on all global income each tax year would not be an easing.

3 hours ago, tomkenet said:

The topic and signals from the finance department suggests easing everseas income Tax rules.

Tax on all global income each tax year would not be an easing.

Nah. Headline didn't match the story..