Report Foreign Earnings Taxed Under New Thai Rules - But With Exceptions

[lordgrinz]

1 hour ago, sandyf said:

There may be a clue in the link being mentioned.

" Importantly, the move signals a clear acknowledgement of the negative impact caused by the current rules introduced in 2024. "

https://www.thaiexaminer.com/thai-news-foreigners/2025/05/19/thai-revenue-planning-new-decree-making-remitted-foreign-funds-within-one-year-tax-free-for-residents/

 

Which questions the intelligence of the imbeciles who put that change in place, it was obvious to anyone with a brain that it would cause a "negative impact".

[JimmyTobacco]

It just seems obvious from the whole situation that Thailand wants to basically reverse its decision on taxing worldwide income, especially for people like pensioners who receive a monthly payment and usually need that money immediately.

[KimchiCurry]

On 5/22/2025 at 4:15 AM, sandyf said:

Why do you want to distort the basic context of the proposed changes.

From the link.

" In essence, the government appears to be preparing to exempt from tax any income remitted to Thailand within one year of being earned."

I love that news. Let's see if it appears on the royal decree.

[sandyf]

On 5/22/2025 at 10:33 AM, lordgrinz said:

 

Which questions the intelligence of the imbeciles who put that change in place, it was obvious to anyone with a brain that it would cause a "negative impact".

Hindsight always brings wisdom.

The 2024 redefinition was aimed at closing a loophole exploited by Thais. The more far reaching implications probably weren't envisaged until over enthusiastic foreigners flocked to the local RD.

If the new proposals come to pass maybe a vote of thanks will be in order.

[Dogmatix]

On 5/19/2025 at 5:12 PM, bikestorm said:

Hm, I am confused. Reading the article at BangkokPost I read that the new rule applies to Thais - but I can not see that it is stated that it will apply to foreigners too. Am I wrong????

"...According to Panuwat Luengwilai, deputy director-general of the department, Thais with income earned abroad who remit it to Thailand regardless of the tax year must include that income in their personal income tax filing in Thailand. ...."

 

I assumed it was just lost in translation in the Post but looking at all the Thai media that ran the story they all just ran the same press release translated by the Post.  It really does say "Thai people".  It seems unlikely that it would not refer to Thailand tax residents regardless of nationality like the rest of the Revenue Code but nothing is impossible with these clowns. 

 

It sounds like turning the old regulations on their head after trying a ridiculous tweak that obviously didn't work.  Doesn't seem very likely this will work either. 

 

 There always tell the same old lie that whatever change they are making is dictated by OECD which they fantasise about one day being allowed to join in spite of protectionist laws that are anathema to OECD.  

 

Next stop scrap the forthcoming Royal decree and introduce global taxation, again pretending that is required by OECD. 

[ukrules]

38 minutes ago, Dogmatix said:

Next stop scrap the forthcoming Royal decree and introduce global taxation, again pretending that is required by OECD. 

 

They can forget about getting additional remittances forever if they do that, people would simply leave unless they did the absolute unthinkable and went 'full USA' but I doubt that will ever happen.

 

[TroubleandGrumpy]

39 minutes ago, Dogmatix said:

 

I assumed it was just lost in translation in the Post but looking at all the Thai media that ran the story they all just ran the same press release translated by the Post.  It really does say "Thai people".  It seems unlikely that it would not refer to Thailand tax residents regardless of nationality like the rest of the Revenue Code but nothing is impossible with these clowns. 

 

It sounds like turning the old regulations on their head after trying a ridiculous tweak that obviously didn't work.  Doesn't seem very likely this will work either. 

 

 There always tell the same old lie that whatever change they are making is dictated by OECD which they fantasise about one day being allowed to join in spite of protectionist laws that are anathema to OECD.  

 

Next stop scrap the forthcoming Royal decree and introduce global taxation, again pretending that is required by OECD. 

 

Yes mate - I would not put anything past them - corrupt and incompetent best describes most of them.

 

IMO Expats are OK now under this change (if approved), but it is only when they implement global taxation (which they will) that we will know if they want to tax foreigners who are retired/married and living long term in Thailand. 

 

I have been looking at the LTR Visa - I think I can just get over that bar and it seemed to me to be the best way to avoid income taxation obligations on money remitted into Thailand.  However, the LTR Visa only provides income tax 'protection' on earnings remitted into Thailand. That might not be applicable when Thailand moves to a global taxation system. Anyone on a LTR that has documented that they are earning over 80K USD PA through foreign investments, might find themselves liable to pay income taxes on those earnings, whether they bring them into Thailand or not, under a global taxation system. 

 

I am sure there are highly capable and efficient Thai people at BOI getting actively involved with TRD to ensure that does not happen, accidently or otherwise, to those they have an LTR Visa - ROFLOL 🤣.  IMO those with an LTR Visa need to stay across whatever arrangements are being implemented by BOI under their upcoming global taxation system - I would be sending emails, letters and making calls to BOI - nudge nudge wink wink. 

[ukrules]

58 minutes ago, sandyf said:

The 2024 redefinition was aimed at closing a loophole exploited by Thais.

 

That's nonsense, it was there quite deliberately since the 80s - they got greedy and thought the people were stupid.

 

Well the people aren't stupid and the remittances stopped flowing, what did they think would happen?

 

[CallumWK]

I went to the revenue office in my country this week and had a word about the Thai rules.

The officer said that they got pretty tired about it, because with the DTA's Thailand requested documentation about taxes paid in my country from them, but as always it was a one way street.

They requested documentation, but when my countiries department requested something from them, they rarely complied.

I also told them that if you now made an international transfer to Thailand, you would be taxed unless you could prove it isn't income.

The officer told me it would be impossible for the revenue office to trace foreign transfers, unless they investigate a particular bank account.

[sandyf]

15 minutes ago, ukrules said:

 

That's nonsense, it was there quite deliberately since the 80s - they got greedy and thought the people were stupid.

 

Well the people aren't stupid and the remittances stopped flowing, what did they think would happen?

 

I doesn't matter what you think has been there since the 80s.

In 2024 RD laid out how the existing regulations should be interpreted.

Of course you are free to believe they didn't do that.

[hotandsticky]

18 minutes ago, ukrules said:

 

That's nonsense, it was there quite deliberately since the 80s - they got greedy and thought the people were stupid.

 

Well the people aren't stupid and the remittances stopped flowing, what did they think would happen?

 

 

 

@sandyf is correct in what he says.

 

 

It was never intended to drag expats into this. The current flip-flop confirms that

[ukrules]

43 minutes ago, hotandsticky said:

 

 

@sandyf is correct in what he says.

 

 

It was never intended to drag expats into this. The current flip-flop confirms that

You are missing my point entirely - it was never a loophole - that's the point.

It was intentional when it was done back in the 1980s, recently they got greedy and now they're paying the price for this greed. It's called Karma.

[hotandsticky]

1 hour ago, ukrules said:

You are missing my point entirely - it was never a loophole - that's the point.

It was intentional when it was done back in the 1980s, recently they got greedy and now they're paying the price for this greed. It's called Karma.

 

 

I understand the point 100%....nothing changed it was just a restatement. But that restatement was aimed at the Thai bigger fish.

[JohnnyBD]

3 hours ago, TroubleandGrumpy said:

 

Yes mate - I would not put anything past them - corrupt and incompetent best describes most of them.

 

IMO Expats are OK now under this change (if approved), but it is only when they implement global taxation (which they will) that we will know if they want to tax foreigners who are retired/married and living long term in Thailand. 

 

I have been looking at the LTR Visa - I think I can just get over that bar and it seemed to me to be the best way to avoid income taxation obligations on money remitted into Thailand.  However, the LTR Visa only provides income tax 'protection' on earnings remitted into Thailand. That might not be applicable when Thailand moves to a global taxation system. Anyone on a LTR that has documented that they are earning over 80K USD PA through foreign investments, might find themselves liable to pay income taxes on those earnings, whether they bring them into Thailand or not, under a global taxation system. 

 

I am sure there are highly capable and efficient Thai people at BOI getting actively involved with TRD to ensure that does not happen, accidently or otherwise, to those they have an LTR Visa - ROFLOL 🤣.  IMO those with an LTR Visa need to stay across whatever arrangements are being implemented by BOI under their upcoming global taxation system - I would be sending emails, letters and making calls to BOI - nudge nudge wink wink. 

I agree with your thoughts on the subject. No one knows for sure how all of this will unfold, but if they started requiring all tax residents to report and pay taxes on their foreign income, then I think the vacuum it would create would be much worse than the slow down on remittances they experienced this past year.

Luckily, I did get the LTR-WP last year so I feel pretty good, but if things changed for the worse, I would simply stay in Thailand less than 180 days. I know a lot of expats won't have that option, so I really feel for them. Lets hope it never comes to that.

[sandyf]

18 hours ago, ukrules said:

they got greedy and thought the people were stupid.

The ugly face of falangism, referring everything they come across to greed.

The more rational point of view, why should those that pay the correct tax subsidise those that don't want to pay; wouldn't cross the minds of many.

[TroubleandGrumpy]

20 hours ago, JohnnyBD said:

I agree with your thoughts on the subject. No one knows for sure how all of this will unfold, but if they started requiring all tax residents to report and pay taxes on their foreign income, then I think the vacuum it would create would be much worse than the slow down on remittances they experienced this past year.

Luckily, I did get the LTR-WP last year so I feel pretty good, but if things changed for the worse, I would simply stay in Thailand less than 180 days. I know a lot of expats won't have that option, so I really feel for them. Lets hope it never comes to that.

Yep indeed - with a 10 year LTR you can leave and re-enter Thailand as many times as you like without requesting 'approval' and you do not have to report every 90 days and you dont have to do TM30s etc unless you permanently change your address. That is an ideal place to be as not matter what happens you are OK, no matter what the next stupid thing they do about taxation falls down from the sky. 

[TroubleandGrumpy]

5 hours ago, sandyf said:

The ugly face of falangism, referring everything they come across to greed.

The more rational point of view, why should those that pay the correct tax subsidise those that don't want to pay; wouldn't cross the minds of many.

The most stupid views are those based on ignorance and racism - like yours. The TRD process about 10 million tax returns a year - where are the other 30-40 million from Thais earning over 60/120K per year??  None of my Wife's family have ever paid income taxes, and two of them run businesses (hairdressers) that pull in well above 10K per month. Thais I know that pull in 100K in a good month do not pay income taxes - compliance is one thing, but enforcement is another thing altogether in Thailand.  That is the same for the majority of Thais who does not work for a company that have a TIN and the company pays TRD a percentage of their income as income tax.

[ronnie50]

On 5/23/2025 at 3:37 PM, CallumWK said:

They requested documentation, but when my countiries department requested something from them, they rarely complied.

When I request or write to my own country's government departments they NEVER reply...

[ronnie50]

On 5/23/2025 at 3:25 PM, ukrules said:

Well the people aren't stupid and the remittances stopped flowing, what did they think would happen?

Not so sure about that. The very mention by the government that it is planning to offer a tax holiday for foreign remittances might be the reason the baht suddenly jumped in value. 

[TroubleandGrumpy]

4 minutes ago, ronnie50 said:

Not so sure about that. The very mention by the government that it is planning to offer a tax holiday for foreign remittances might be the reason the baht suddenly jumped in value. 

Nail on the head hit ...... they will do anything and everything to hold the Baht up as high as they 'require'.  

[ronnie50]

8 minutes ago, TroubleandGrumpy said:

Nail on the head hit ...... they will do anything and everything to hold the Baht up as high as they 'require'.  

Right. If they can push the BOT to strengthen the baht even more - completely without economic sense as the country isn't earning foreign currency because of no tourists and weak exports  - then a bonanza of tax-free foreign remittances arriving in hard currencies (USD) at a falsely inflated baht, will strengthen their foreign reserves more than the government would earn from fewer tourists paying VAT or corporate export taxes.

[Lorry]

On 5/23/2025 at 2:33 PM, Dogmatix said:

It really does say "Thai people".  It seems unlikely that it would not refer to Thailand tax residents regardless of nationality like the rest of the Revenue Code but nothing is impossible with these clowns. 

I would find it plausible (of course,  I wouldn't like it).

Foreigners have to remit money into Thailand,  in order to live on it. So let's tax it.

 

Rich Thais need an incentive to repatriate money. And they are us, anyway. 

 

Poor Thais' foreign remittances are 2 groups: those working abroad - let's give them the chance to remit their (probably taxed abroad) wages without (double) taxation. Those investing paltry sums abroad (gf bought Google stock the other day, for about 3 USD) are basically taxed at source. 

[niebla]

Was planning on buying a car or a condo this year. Would need to transfer money from outside of Thailand to pay for it. Are they going to tax me on money I bring into Thailand to buy a car or a condo? Everything is on hold until this is resolved. It appears that all monies transferred to Thailand will be scrutinized and possibly taxed.

[Thailand J]

On 5/22/2025 at 10:33 AM, lordgrinz said:

 

Which questions the intelligence of the imbeciles who put that change in place, it was obvious to anyone with a brain that it would cause a "negative impact".

Not making oversea remittance tax free disregard of when it was earned shows that they haven't learn the lesson.

[Cuchulainn]

I'd wait and see what happens in the next few months.

 

Unless it is linked to an annual visa extension, they ain't getting 1 satang out of me!

[JJ-Thailand]

8 minutes ago, niebla said:

Was planning on buying a car or a condo this year. Would need to transfer money from outside of Thailand to pay

Wait.

[JJ-Thailand]

On 5/19/2025 at 4:45 PM, snoop1130 said:

An anonymous source from the Finance Ministry clarified that Thailand employs a residency-based tax principle, taxing income of individuals who reside in Thailand for 180 days or more within a given tax year.

 

This indicates that the new regulation will also apply to foreigners living in Thailand 180 days or more per year.

[Presnock]

On 5/19/2025 at 5:27 PM, Dust said:

It doesn't say exclusively Thais and later says "This rule applies to persons who stay in Thailand for 180 days or more and have foreign income."     Maybe if you aren't a person then it won't apply.    But I just think this being Thailand the officials will first address how it will affect Thais and the article reflects that priority. I guess we just wait for more details.

 

On 5/19/2025 at 5:27 PM, Dust said:

It doesn't say exclusively Thais and later says "This rule applies to persons who stay in Thailand for 180 days or more and have foreign income."     Maybe if you aren't a person then it won't apply.    But I just think this being Thailand the officials will first address how it will affect Thais and the article reflects that priority. I guess we just wait for more details.

they have mentioned that they will treat Foreigners and Thais that are tax residents exactly the same so wait until the final bill/decree is out and hope it clears it up for all.

[Presnock]

On 5/22/2025 at 9:26 AM, sandyf said:

Retrospective adjustment would be wishful thinking.

they said that it will depend on the final decree whether one who paid tax in 2024 will be able to get a refund or not.

[Presnock]

On 5/20/2025 at 8:29 AM, worrab said:

From this article: This change is expected to benefit both Thai citizens and foreign residents. It could also stimulate more inward capital flow and ease bureaucratic burdens.

Yes, that is what they claim it is for, the ease of moving money into Thailand because after the change last year, the collection dropped drastically and reportedly by Sept 2025 will be 20 BILLION baht short of the goal needed!