Thailand Yet to Finalise Policy on Taxing Expats’ Overseas Income

[Jingthing]

4 hours ago, riclag said:

I’ve followed his YT channel!

He talks about countries that want to

ignore current tax treaties & the OECD and many topics related Thailand!

It is my opinion he is very skeptical of the OECD countries wanting to push their agenda on global taxation!

 

That being said , He’s opinionated ,well versed and knowledgeable .

 

 

 

Emphasis on opinionated. 

[StayinThailand2much]

14 hours ago, Lopburikid said:

I have been told TWICE by my local tax revenue office. NO TAX ON RETIREMENT PENSION.

 

Fair enough. But did they also tell you how the bank will distinguish between 'retirement pensions' and other transfers, before withholding tax?

[sungod]

22 hours ago, Tropicalevo said:

Dumb, dumber and dumbest.

 

Dumb - the Thai politicians who came up with this idea.

Dumber - those trying to invent the rules.

Dumbest - the Thai developers who will try and write the software to implement it all.

The most dumbest, those foreigners who have gone and filed. 

[Dakhar]

The gift loop hole, is still open & that is the route I took.

[motdaeng]

10 minutes ago, Dakhar said:

The gift loop hole, is still open & that is the route I took.

 

good luck then ....   

do you think TRD is as stupid not seeing if someone try to use a loop hole? please give it a try and report back, thanks.

[Moonlover]

39 minutes ago, StayinThailand2much said:

 

Fair enough. But did they also tell you how the bank will distinguish between 'retirement pensions' and other transfers, before withholding tax?

Since when did banks withhold tax on inward transfers? 

 

Banks have no authority to deduct tax on behalf of the TRD, other than withholding tax on interest that they themselves award.

[pomchop]

1 hour ago, kingstonkid said:

But we never PAY TOO MUTT

well pay them too mutt no

 

pay too mutt at any and every thai market we go to...yes

[Yumthai]

33 minutes ago, motdaeng said:

good luck then ....   

do you think TRD is as stupid not seeing if someone try to use a loop hole? please give it a try and report back, thanks.

Gifting in Thailand is still a legal tax loophole, as much as getting a loan from your offshore assets as collateral or getting an LTR visa that exempts from tax your foreign sourced remittances.

[newnative]

    Well, back to square one after umpteenth threads and posts.  Sticking with my original plan to keep my head down and do nothing until absolutely required to do something, such as to extend my retirement visa.

[anrcaccount]

21 minutes ago, Yumthai said:

50 minutes ago, motdaeng said:

good luck then ....   

do you think TRD is as stupid not seeing if someone try to use a loop hole? please give it a try and report back, thanks.

Gifting in Thailand is still a legal tax loophole, as much as getting a loan from your offshore assets as collateral or getting an LTR visa that exempts from tax your foreign sourced remittances.

 

Correct, gifting is completely legal . The gift recipient need not 'report' anything to the TRD , and thus I can tell you already what this members report will be - no Thai tax payable on the gifted funds for the giver or the recipient. 

 

Other 'loopholes' include remitting 'income earned prior to 31-12-23' ( which is still very open in definition as to what exactly that means) , and this one here, which is quite nice IMO:

 

Selling an asset overseas for capital gains>

Rebuying an asset immediately and then selling that at cost>

Remitting the proceeds to Thailand.

 

Remittance of original capital is tax free. 

 

 

[lordgrinz]

10 hours ago, freedomnow said:

Thailand Yet to Finalise Policy on Taxing Expats’ Overseas Income

 

 

Thailand Yet to FURTHER AMEND Final Policy on Taxing Expats’ Overseas Income

 

Thailand Yet to FURTHER AMEND AGAIN Policy on Taxing Expats’ Overseas Income

 

Thailand TO COMPLETELY REVERSE Policy on Taxing Expats’ Overseas Income

 

There is no Expat tax policy, there is a Tax on remittance which is applied to everyone here for more than 180 days, Thai or Expat. The sooner everyone understands they are not a special class, then they can move forward.

 

 

[safarimike11]

22 hours ago, pomchop said:

Listen to the age old advice from thai gals:

 

why u worry too mutt?

And stay in the loom.

[neverere]

On 3/17/2025 at 10:28 AM, Emdog said:

"Some offices even suggest expats declare income based on the 800,000 baht needed annually for retirement extensions, adjusting tax dues accordingly."

My SCB account already takes taxes out... shows as a line 'tx" in my passbook

Tax on interest is capital gains, not income tax.

[Moonlover]

5 minutes ago, neverere said:

Tax on interest is capital gains, not income tax.

Rubbish. Capital gain taxes are taxes imposed on the profit of the sale of an asset.

 

[pomchop]

1 hour ago, newnative said:

    Well, back to square one after umpteenth threads and posts.  Sticking with my original plan to keep my head down and do nothing until absolutely required to do something, such as to extend my retirement visa.

A very good plan...if and when it ever actually impacts my life in any way and if and when any authority like immigration says i need to deal with it then i will put it way way in the back of my mind along with other things not worth worrying about....

[Ben Zioner]

3 hours ago, Dakhar said:

The gift loop hole, is still open & that is the route I took.

Delusion.

[jwest10]

On 3/17/2025 at 8:17 AM, daveAustin said:

Pathetic bunch of third world bs. Shove it. Come after me. WE’VE ALREADY BEEN TAXED TO THE HILT!! Want to earn some coin? Tax your beloved Chinese visitors!

Well, why not go after the filthy rich of all Nationalities and yes including the elite Thais but no, it would be too difficult as they of course have their own laws and can if necessary can afford and hire a so-called Lawyer and Accountant!!!   gRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR

[jwest10]

On 3/17/2025 at 8:17 AM, daveAustin said:

Pathetic bunch of third world bs. Shove it. Come after me. WE’VE ALREADY BEEN TAXED TO THE HILT!! Want to earn some coin? Tax your beloved Chinese visitors!

Well, why not go after the filthy rich of all Nationalities and yes including the elite Thais but no, it would be too difficult as they of course have their own laws and can if necessary, can afford and hire a so-called Lawyer and Accountant!!!   gRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR

[yozah]

2 hours ago, anrcaccount said:

Selling an asset overseas for capital gains>

Rebuying an asset immediately and then selling that at cost>

Remitting the proceeds to Thailand.

 

Remittance of original capital is tax free. 

 

 

😛

[jwest10]

On 3/17/2025 at 12:14 PM, puck2 said:

A very lovely family member of my wife called the Tax-offices in BKK and Mae Hong Son.

She asked them, if a falang has to pay taxes of the money he transfers to Thailand and what already has been taxed in Germany. She also added the question, if I had to go to the tax-office in MHS to get a PIN (number).

 

The Bangkok officer told her: no tax in Thailand because of the DTA (Double Tax Agreement), but she should contact the MHS-Office, too.

The MHS-Tax-Officer confirmed: no tax on my money, that has already been taxed in Germany. Therefore:   I should NOT ask for a PIN-number in the MHS-office, because I don't have any income here in Thailand. If only a few THB of bank interest it would woud alteady have been taxed by the Bank.

 

Did some of our AN-members receive the same answer from their tax-offices?

Precisely and also the local Revenue office has repeatedly stated among other things and has you have no employment here in Thailand or elsewhere  and your personal allowances exceed income coming in then no tax and why you fretting!!!

On 3/17/2025 at 8:17 AM, daveAustin said:

Pathetic bunch of third world bs. Shove it. Come after me. WE’VE ALREADY BEEN TAXED TO THE HILT!! Want to earn some coin? Tax your beloved Chinese visitors!

Well, why not go after the filthy rich of all Nationalities and yes including the elite Thais but no, it would be too difficult as they of course have their own laws and can if necessary, can afford and hire a so-called Lawyer and Accountant!!!   

[jwest10]

On 3/17/2025 at 12:32 PM, Ben Zioner said:

There have been all sorts of answers, but none in writing. So those who'll get audited in the forthcoming years and a found liable for undeclared income will have to cough up tax + penalties.

 

My wife inquired about me, and the guy said "UN pensionsnot taxable in Thailand", I had never heard of that before...  On the other hand he had never heard about the LTR visa, so he took note of RD. 743 and said he'd look it up, which is doubtful.

 

 

UN pensions and presume you meant UK pensions?

[jwest10]

23 hours ago, cardinalblue said:

The only date that matters to me is my visa expiration date in Dec and when I apply for an extension and nothing is said about showing tax receipts then I am good for another year 

Relax and many have not only renewed their permission to stay in Jan, Feb and March this year and also 90-day reporting  and nothing mentioned bit in any case my local Revenue office has stated you do not need to fill in a tax form and do not fret.

[jwest10]

22 hours ago, jojothai said:

No, 

Read the first part above.

Uk DTA has no provision against state or personal pension (unless government service). So there can be double tax on pensions.

The UK seem to have deliberately left out the clause in most DTA's.

The people responsible must have loved trying to screw pensioners. Just like no yearly inflation increases in state pension.

 

 

 

You are probably right but in any case my personal allowances are higher than my income and been told by my local Revenue Office that I simply do not file.

[jwest10]

22 hours ago, jojothai said:

There seems to be a lot of opinion that nothing will happen.

But the banks are now starting to ask for tax ID to satisfy CRS.

ITs taken two years.

Slow, yes. In uk it took about one year.

One step at a time.

For those who think the TRD will not get their act together, then things may prove to be a but quicker than some expect.

There was a seminar in hua hin recently to discuss the tax issues with the TRD. See attached FYI.

some points to note , but still questions yet to be answered.

From the reports we see, its clear that many jurisdictions do not Understand what is started, however it may slowly become more consistent.

Many people will hope it does not happen too quickly.

Added comment. Sorry if the text is not very clear. I wil look at improving if i can later on my notebook.

 

 

[jwest10]

Just now, jwest10 said:

22 hours ago, jojothai said:

There seems to be a lot of opinion that nothing will happen.

But the banks are now starting to ask for tax ID to satisfy CRS.

ITs taken two years.

Slow, yes. In uk it took about one year.

One step at a time.

For those who think the TRD will not get their act together, then things may prove to be a but quicker than some expect.

There was a seminar in hua hin recently to discuss the tax issues with the TRD. See attached FYI.

some points to note , but still questions yet to be answered.

From the reports we see, its clear that many jurisdictions do not Understand what is started, however it may slowly become more consistent.

Many people will hope it does not happen too quickly.

Added comment. Sorry if the text is not very clear. I wil look at improving if i can later on my notebook.

 

 

Expand  

Many do not live in Hua Hin and totally different in other Provinces!!!

[Liverpool Lou]

On 3/17/2025 at 9:27 AM, ikke1959 said:

Let the netizens all fill in the tax forms first.... Most don't pay any tax

Where did you get that information from that most who are liable for assessment don't pay tax or don't do tax returns?

[Liverpool Lou]

On 3/17/2025 at 10:37 AM, hotsun said:

Im not giving them a cent. I suggest everyone else does the same

You haven't been asked to give them a cent.

[Ben Zioner]

57 minutes ago, jwest10 said:

UN pensions and presume you meant UK pensions?

Never heard of the United Nations?

 

https://www.unjspf.org/

 

[jwest10]

18 hours ago, Ben Zioner said:

I don't.

Explain olease

[Ben Zioner]

8 minutes ago, jwest10 said:

Explain olease

Waste of space. But he makes me laugh when he knocks Elite and LTR because he can't make any money from them. 

 

Also he is too reminiscent of another obnoxious American from Wichita I worked with at UNHCR.