Thailand Yet to Finalise Policy on Taxing Expats’ Overseas Income

[BritManToo]

1 hour 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.

Mostly Thailand announces new rules/laws/guidelines, then never bothers to go any further. It's like they want to be part of the western new world order, but haven't got the enthusiasm to actually do anything but posture.

 

I doubt k bank will get around to more than the emails.

[PomPolo]

5 minutes ago, Gknrd said:

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

Most in denial!

 

 

Last few years makes sense try last 2 decades and you might be on the right track you think all of a sudden this will magically happen overnight?

My back pack and a reserve stash of real paper money is always at hand but why would thailand want to get rid of their farang cash cows?

[PomPolo]

Does anyone else see the irony on these threads that tax advice advertisments always seem to appear on them?

[Dmitry2222]

6 minutes ago, BritManToo said:

Mostly Thailand announces new rules/laws/guidelines, then never bothers to go any further. It's like they want to be part of the western new world order, but haven't got the enthusiasm to actually do anything but posture.

 

I doubt k bank will get around to more than the emails.

Let's remember the points system for drivers. Does it work? However, there has been a lot of discussion about it.

[PomPolo]

33 minutes ago, Dmitry2222 said:

Let's remember the points system for drivers. Does it work? However, there has been a lot of discussion about it.

I suspect there will be a millennium bug before they can implement this like probably next millennium

[piewarmer]

On 3/17/2025 at 1:13 PM, 4MyEgo said:

I have come to the conclusion after reading many posts on this topic that I shall gift a million baht to my wife annually.

 

Once I gift her the money, I shall state, as she will, that I do not eat from the same plate, and if they want to suggest otherwise, then I will tell them to prove it, as the onus will be on them.

 

I do not own a home, I do not own a car, we have separated as husband and wife and I live in the back of the house and remain for the kids, I eat Kellogg's all bran for breakfast, have a tuna sandwich for lunch, and a bowl of spag for dinner and support myself, in other words, Garn Get Fruit Loops.

B190,000 is the tax credit ceiling for family deductions

[Kenneth White]

On 3/23/2025 at 9:14 AM, motdaeng said:

 

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:

 

It appears that I will not need to pay any tax. I rarely use my credit card for purchases other than at Mitsubishi for service and tires.

[watchcat]

On 3/17/2025 at 1:04 AM, JoePai said:

Calm down everyone, after many years in Thailand I understand any new legislation takes many years of to and fro 

 

 

 

Correct.

[4MyEgo]

23 hours ago, piewarmer said:

B190,000 is the tax credit ceiling for family deductions

 

https://www.expattaxthailand.com/gift-tax-2024/

 

I believe you are incorrect, it's up to 20 mil baht.

 

I did state that I would gift her 1 mil baht, it's tax free.

 

Why should I declare the mil baht to the revenue department, I have paid taxes all of my life, and I am certainly not going to accept being taxed on my savings, even if my saving are working for me and earning me money.

 

In other words, I will exploit the system legally to avoid paying taxes on my money.

[JB300]

On 3/23/2025 at 9:32 AM, 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. 

You do know that you have always been “obligated“ to file a Tax Return if you meet the criteria of >179 days in Thailand & 120K (Single, 220K Joint) assessable Income.

 

The only thing that has changed is the interpretation of the rule around what is assessable income, key factor being we can no longer use the “Previous Year Loophole” around what is/isn’t assessable income.