just a reminder, the new tax law (effective january 1, 2024) was intended to close the loophole for thai individuals, companies, and transactions. foreigners living in thailand were not the primary target ... about a year ago, a newspaper article reported that remittances from abroad had declined significantly. i find it hard to believe that foreigners living in thailand were the main reason for that decline ... it seems to me that Thai people don't use this loophole anymore (?) ... what surprises me is that so few banks in people's home countries require proof that their customers living abroad pay taxes in thailand or have a thai tax identification number (TIN). my bank requires that, otherwise the will close my accounts! at the beginning of each year, my banks in my home country send me a notice explaining which account information will be exchanged with thailand under the OECD reporting standards ... my personal opinion is that, sooner or later, all foreigners living in thailand will have to comply with the thai tax system. we are already seeing the stricter requirements being introduced by banks ... something like that could very well happen with tax law as well ...
