Thailand Yet to Finalise Policy on Taxing Expats’ Overseas Income

[yozah]

So what is the problem with just resetting the cost basis of foreign assets? Sell asset outside thailand and buy it back and then sell again and then bring to thailand. 0 capital gains no? 😛

[anrcaccount]

5 minutes ago, yozah said:

So what is the problem with just resetting the cost basis of foreign assets? Sell asset outside thailand and buy it back and then sell again and then bring to thailand. 0 capital gains no? 😛

Completely compliant with remittance guidelines.

 

No Thai tax payable on remittance of capital. 
 

 

[jensmann]

well, got a very clear message from the legal department of the German Embassy: 

regarding DTA with Germany, Germany will not tax me if I'm 180+ in Thailand but Thailand will.

how clearer you like to have it???

[redwood1]

52 minutes ago, DULEROY said:

https://l.facebook.com/l.php?u=https%3A%2F%2Fwww.rd.go.th%2Ffileadmin%2Fuser_upload%2Florkhor%2Fnewspr%2F2024%2FFOREIGNERS_PAY_TAX2024.pdf%3Ffbclid%3DIwZXh0bgNhZW0CMTAAAR3YvpwZNxK98QffuRoME5XFiGnuIXXWEc4mPR5N_PzJcxGfu9UOn-b-2YA_aem_60-HP8lVRT9iJJTh4pYMQw&h=AT1TJy_anl6CAxNOnwbebJvS1YZMt3HSmi6-zVqHiHtK1HS0DU2A9bTzVSWU9k5Gk26svbOjklkuD-bjokD8bFV10BkgoYGDznzueWBUALdtwMhUX0UqtB60iDpRxAO-uBrb77PydyPs3eStr4Jnzf9UBtqCbw&__tn__=-UK-R&c[0]=AT2OnCVE-f3Fxy4DWT_ga3H0EDWLmWM43G1ZkRPVlDNBu-RI410NF-ujgTfUFno5Lvza3ZOEHm7xxChsQu9OpxaXqE9IXlhKFAwPbASQbC14Lqv0xRmL2GMKJs-1xAMHcFY6nj60ORl-yBGwpqOvDkEGkAQ

 

 

 

Yep everyone must still pay taxes in their home country like they have always done...180 days or no 180 days....I can only imagine the bureaucratic hell in store for anyone who thinks they will try and get out of paying taxes in their home countries by saying they paid Thai taxes... 

[redwood1]

10 minutes ago, jensmann said:

well, got a very clear message from the legal department of the German Embassy: 

regarding DTA with Germany, Germany will not tax me if I'm 180+ in Thailand but Thailand will.

how clearer you like to have it???

Yea but when the rubber hits the road...Things might be very different if the home taxes are all the sudden not paid one year..

[motdaeng]

1 hour ago, Kenneth White said:

If I use my international credit card to purchase items here in Thailand, aren't the items already taxed? If so, why should I pay an additional tax on that purchase?

 

in the future, you might have to explain to the tax office how you support yourself. you would then tell the thai tax office that you pay for everything with your foreign credit card and therefore believe you don’t have to pay taxes under thai tax law.

 

but you do realize that, in the end, it’s the thai tax office (not you) that decides what you need to pay taxes on ...

paying for your living expenses with a credit card doesn’t seem like the smartest choice, bad exchange rates, high fees, etc.

 

as a tax resident over 65, you already have a tax-free allowance of at least 500k, and only after that do you need to pay taxes:

 

[AlexRRR]

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?

No, Pattaya revenue department when asked clearly said, you remit funds that shows up in a Thai bank account you file a tax form. We have already worked out that each office seems to be working on their own interpretations so I will just leave it there. But just because you file does not mean you will owe tax and in my own case they were quite lenient on where the money went  because I was over my allotted tax free threshold, but then its that office interpretation.

[Yumthai]

44 minutes ago, anrcaccount said:

51 minutes ago, yozah said:

So what is the problem with just resetting the cost basis of foreign assets? Sell asset outside thailand and buy it back and then sell again and then bring to thailand. 0 capital gains no? 😛

Completely compliant with remittance guidelines.

 

No Thai tax payable on remittance of capital. 

 

IMO This is unlikely to happen but one could argue TRD could ask and check source of funds history if they are aware the asset you sold was bought in the same calendar tax year (for instance all transactions appear on a brokerage account statement).

 

 

[AlexRRR]

On 3/20/2025 at 10:04 AM, Expat68 said:

Just came back from my local Revenue Office. Took with me everything which I needed. The lady looked at everything but obviously was not 100% certain on the matter. She went to get her superior. Superior asked me several questions.

Which country do you get your income paid? Do you work in Thailand? Do you pay tax on your income in the UK? Do you have evidence that you pay tax in the UK? After answering the questions and providing evidence, the lady informed me that there is no need to fill a tax form in Thailand. If I decided to change and pay tax on my UK income in Thailand then I would need to fill in a form. So for me until there is a clear instruction I will just carry on as normal 

Hope you got that in writing and was signed off by that office.

[spidermike007]

There is absolutely no new obligation on our parts, to engage the system. Period. No new laws. No passed legislation. It appears to be a huge nothing burger. 

[sandyf]

On 3/20/2025 at 1:07 PM, redwood1 said:

 

 

Errr.......This was cutting edge info about 20 tax threads ago.....

1. "It’s a pension that falls under non-accessible income, such as payments from the US Social Security."

Hardly cutting edge info when the term in bold is by default contradictory.

From Section 40 of the revenue code.

"Assessable income is income of the following categories including any amount of tax paid by the payer of income or by any other person on behalf of a taxpayer."

https://library.siam-legal.com/thai-law/revenue-code-assessable-income-and-income-tax-sections-40-64/

[Guderian]

29 minutes ago, spidermike007 said:

There is absolutely no new obligation on our parts, to engage the system. Period. No new laws. No passed legislation. It appears to be a huge nothing burger. 

 

I agree, one week left to file a tax return yet they still haven't finalised their new rules. They're clearly not very serious about it at the moment, probably realise they've bitten off far more than they can chew. I saw an article on FB last night, in the Post I think, saying that the TRD will focus this year on taxing expats who are making their income in the online world, so digital nomads and people selling stuff online. That might be doable, though I have no idea how they will tell who exactly falls into this category.

[stevenl]

1 hour ago, Guderian said:

I saw an article on FB last night, in the Post I think, saying that the TRD will focus this year on taxing expats who are making their income in the online world, so digital nomads and people selling stuff online. That might be doable, though I have no idea how they will tell who exactly falls into this category.

Maybe by their visa category .

[1FinickyOne]

On 3/17/2025 at 7:42 AM, Gsxrnz said:

If I had a choice of volunteering information to the tax man, or slamming my personal appendage in a car door, I'm choosing the latter. 

That sounds like a bad choice - do you have any idea how much that would hurt and have lasting effects? 

 

I would pay the tax but I don't think the part about appendages and car doors is going to be in the tax code

[anrcaccount]

2 hours ago, Yumthai said:

 

IMO This is unlikely to happen but one could argue TRD could ask and check source of funds history if they are aware the asset you sold was bought in the same calendar tax year (for instance all transactions appear on a brokerage account statement).

 

 

 

Sure, they could ask, but you'd still be within the law. There's nothing relating to the timing of when any assets were bought/sold. 

 

Source of remitted funds = proceeds from sale of capital , no gains have been remitted.

 

Checking the 'source of the source' is completely outside of their remit. 

 

Lest we forget, remember the video with the TRD rep, you can also:

 

sell your stocks/any other asset for gains>

buy a watch >

then sell that watch>

remit to Thailand non assessable 

 

Classic! 

 

 

 

 

[daveAustin]

On 3/17/2025 at 7:42 AM, Gsxrnz said:

If I had a choice of volunteering information to the tax man, or slamming my personal appendage in a car door, I'm choosing the latter. 

Consider slamming your non-personal appendage in that door to protect your personal asset(s). 😋

[PomPolo]

I got one of those kbank tax forms a couple of weeks ago they wanted to know my uk national insurance number just said I can't remember it been here 10 years now even if I could wouldnt have given them it none of Thailands business

[MikeandDow]

25 minutes ago, PomPolo said:

I got one of those kbank tax forms a couple of weeks ago they wanted to know my uk national insurance number just said I can't remember it been here 10 years now even if I could wouldnt have given them it none of Thailands business

same here, i filed it in the bin !!

[PomPolo]

2 minutes ago, MikeandDow said:

same here, i filed it in the bin !!

I like it I am going to adopt your filling system sir 🤣

[yozah]

2 hours ago, anrcaccount said:

 

Sure, they could ask, but you'd still be within the law. There's nothing relating to the timing of when any assets were bought/sold. 

 

Source of remitted funds = proceeds from sale of capital , no gains have been remitted.

 

Checking the 'source of the source' is completely outside of their remit. 

 

Lest we forget, remember the video with the TRD rep, you can also:

 

sell your stocks/any other asset for gains>

buy a watch >

then sell that watch>

remit to Thailand non assessable 

 

Classic! 

 

 

 

 

LOL. What video?

[thailand49]

Only ones making a stink are foreigner and those pushing alarming for their business!

Thais opened a can of worms like most then can't figure out how they got into this mess.

A Thai lawyer was asked about this tax he said nothing but 🤣

[MikeandDow]

Lots of stupid foreigner In a Panic !! they the goverment have been trying this for a long time, typical thais gets way to compicated forget it, this is a flip flop country  I have already said it they will have to knock on my front door to fill out there forms, Total Panic over bugger all

[motdaeng]

16 minutes ago, MikeandDow said:

Lots of stupid foreigner In a Panic !! they the goverment have been trying this for a long time, typical thais gets way to compicated forget it, this is a flip flop country  I have already said it they will have to knock on my front door to fill out there forms, Total Panic over bugger all

 

do you think it's possible, in the future you will have to knock on the TRD door and not the other way around?

interesting times ahead, especially for people putting their heads in the sand and hoping taxation foreigner in thailand never will happen ...

 

[MikeandDow]

15 minutes ago, motdaeng said:

 

do you think it's possible, in the future you will have to knock on the TRD door and not the other way around?

interesting times ahead, especially for people putting their heads in the sand and hoping taxation foreigner in thailand never will happen ...

 

To answer your Question  NO will not be going to TRD  and for people putting there heads in the sand  at the moment that is the correct attitue  as there  is nothing cast in stone at the moment just assumptions

[ukrules]

4 hours ago, anrcaccount said:

 

Checking the 'source of the source' is completely outside of their remit.

 

Nonsense, what do you think an audit is?

 

[sidneybear]

3 hours ago, PomPolo said:

I got one of those kbank tax forms a couple of weeks ago they wanted to know my uk national insurance number just said I can't remember it been here 10 years now even if I could wouldnt have given them it none of Thailands business

It's all part of the Common Reporting System. If you don't provide this information, be prepared to have your bank account closed with zero notice, once whatever grace period they give you expires. It happens all over the world, so have a Plan B if you're abruptly debunked.

[PomPolo]

48 minutes ago, sidneybear said:

It's all part of the Common Reporting System. If you don't provide this information, be prepared to have your bank account closed with zero notice, once whatever grace period they give you expires. It happens all over the world, so have a Plan B if you're abruptly debunked.

Alright you seem to be an expert even in thailand you think they would close your bank account steal your money without prior notice?

If there is a grace period doesn't that automatically mean prior notice first.

But thankyou for debunking me with your superior knowledge of the thai financial system

[redwood1]

59 minutes ago, sidneybear said:

It's all part of the Common Reporting System. If you don't provide this information, be prepared to have your bank account closed with zero notice, once whatever grace period they give you expires. It happens all over the world, so have a Plan B if you're abruptly debunked.

 

Well I imagine Vast Vast numbers of Kbanks customers have not filled out their pointless paperwork.....So maybe Kbank will have to shut THEIR doors.....lol

[PomPolo]

2 minutes ago, redwood1 said:

 

Well I imagine Vast Vast numbers of Kbanks customers have not filled out their pointless paperwork.....So maybe Kbank will have to shut THEIR doors.....lol

@sidneybear

 Seems to be 99% ahead of all other members on this forum so perhaps he can pay all of our taxes 🤣

[Gknrd]

This thread reminds me of all the threads on retirement in Thailand in the last few years.

Most in denial!

 

Wait until the US gets  around to tariffs in Thailand.  Then see how long it takes Thailand to start implementing this and other measures targeting retiree's. 

That 800K held in the bank will look like play money.  They will attach costs and ridiculous  rules.