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

[Yumthai]

1 hour ago, The Cyclist said:

Don't be shocked or surprised if Thailand implements global taxation for tax year 2027.

You're lacking vision. Thailand can't afford global taxation without opportune tax exemptions that would be not too complicated to implement for those who do not want to pay tax.

[ukrules]

1 hour ago, The Cyclist said:

 

It hasn't you know.

 

Don't be shocked or surprised if Thailand implements global taxation for tax year 2027.

 

A new Prime Minister was appointed just before that article was written. Things can change quickly with someone new in the hot seat.

[The Cyclist]

2 minutes ago, ukrules said:

 

A new Prime Minister was appointed just before that article was written. Things can change quickly with someone new in the hot seat.

 

Yes , it can.

 

What does not change is Governments desperation to raise even more revenues.

 

Not forgetting

 

Quote

OECD Secretary-General Mathias Cormann publicly launched the process of Thailand's accession to the OECD in Bangkok today, formally handing over the Roadmap for accession by the second largest economy in Southeast Asia. 

 

https://www.oecd.org/en/about/news/press-releases/2024/10/oecd-kicks-off-accession-process-with-thailand.html

 

When that formal accession process is halted, by Thailand, then I think things will return to normal regarding taxation, until then, you know what these organisations are like.

 

The EU is a good recent example.

[JohnnyBD]

1 hour ago, The Cyclist said:

 

It hasn't you know.

 

Don't be shocked or surprised if Thailand implements global taxation for tax year 2027.

If you would, please let us know as soon as global taxation becomes law in Thailand. Until then, it's just a waste of my time discussing something that may never happen. Life is just too short.

[The Cyclist]

3 minutes ago, JohnnyBD said:

Until then, I don't see any reason to waste anymore time discussing it until something new comes out. Life is just too short.

 

Yet, here you are. On a thread about a proposal, that may or may not happen.

 

I think you might miss the irony.

[JohnnyBD]

3 minutes ago, The Cyclist said:

 

Yet, here you are. On a thread about a proposal, that may or may not happen.

 

I think you might miss the irony.

Why cut my post short. I told you:

If you would, please let us know as soon as global taxation becomes law in Thailand. Until then, it's just a waste of my time discussing something that may never happen. Life is just too short.

 

What part of that don't you understand. I do not want to discuss this with you any longer as it is a waste of my time. Please let me know if it ever becomes law, otherwise you were wrong about it becoming law...

[The Cyclist]

1 minute ago, JohnnyBD said:

Why cut my post short. I told you:

 

You told me, did you ?
 

Have a read of this.

 

https://www.oecd.org/en/about/news/press-releases/2024/10/oecd-kicks-off-accession-process-with-thailand.html

 

Take note of these in particular.

 

Quote

Thailand has been actively engaged with the OECD, increasingly participating in OECD bodies, selected databases and adhering to a number of OECD legal instruments

 

That means taking rules from the OECD.

 

Quote

As a result of these technical reviews, committees may recommend changes to Thailand’s legislation, policy and practices to bring them further into line with OECD standards and best practices,

 

Has the magnitude of the above sunk in ?

[JB300]

4 hours ago, EVENKEEL said:

So you're a tax evader. Probably one of the few?  

I live on passive income (Rent, Dividends & Capital Gains), my accountant files my return & I have no tax pay by UK rules… 

   1. (net) Rental income, below the £12,570 personal allowance, no tax to pay.  
   2. Dividends, reported as “Disregarded” Income so no additional tax to pay over the tax already withheld. 
  3. Capital Gains, I’ve been an expat for 17 years so any  (Non Property)) capital gains are not taxable. 
 

Not evading anything, just following the rules…

 

Have filed returns since I was 19 (this year will be my 40th return) before becoming an Expat, as a higher rate tax payer, there there was always some extra tax to be paid on dividends & benefits in kind (Conpany car, Private Health insurance etc)… but apart from property sales, the Uk is very generous to Non-UK Tax residents. 

[redwood1]

15 minutes ago, JohnnyBD said:

Why cut my post short. I told you:

If you would, please let us know as soon as global taxation becomes law in Thailand. Until then, it's just a waste of my time discussing something that may never happen. Life is just too short.

 

What part of that don't you understand. I do not want to discuss this with you any longer as it is a waste of my time. Please let me know if it ever becomes law, otherwise you were wrong about it becoming law...

 

Trust me this is a repeat of whether expats are required to file or not ....Its only a new subject matter....Look through old threads..

[Captor]

7 hours ago, wensiensheng said:

 

Yes. In fact they make it explicitly clear that the intention of the change is to force repatriation of income to Thailand asap. Delay a year and it’s taxed.

Right, that is my impression as well of the whole new thing when reading the articles. Not much gain for us with pension or salary from the home country at all. And NOT back to how it was in previous years before 2024 and earlier. So not much to celibrate.