On 6/4/2025 at 5:05 PM, snoop1130 said:

Notably, this tax break is applicable only to income earned after the policy is enacted; previously earned income is ineligible for benefits under this provision.

 

That's a pretty big exclusion!!!  😞

 

Especially given their stated goal of getting people abroad to remit large sums back to Thailand for reinvestment.... Those large sumes -- foreign assets accumulated prior to this supposed policy -- aren't going to be eligible for the tax break.

 

 

BTW, this report above is pretty different from one of the last major reports on this topic posted here, which if I recall correctly, didn't envision a single two-year tax amnesty period like above, but rather, an ongoing, rolling period where funds could be remitted tax free as long as earned in the current or following one year thereafter.

 

Really, I wish they'd just friggin make up their minds!!!

 

One constant remains in my mind despite all the gobbledeegoop from this bureaucrat.

 

That is, I still don't understand how the Revenue Department would know when the overseas money was 'earned' (this year or before) - and do pension funds and passive income count toward the tax free remittance? Some months ago, another member was referring to the 'first in, first out' principle - meaning money you have in a savings account back home for many years (for example) was savings from earnings already taxed from employment, pension, interest payments, etc. So the remittance of such shouldn't be taxed at all in Thailand. Again how do you prove it? The basic Thai income tax return form is just a simple document with no way to go into details in any case.

On 6/4/2025 at 6:30 PM, ukrules said:

From what I've read it mentions nothing about a limited time one off temporary measure - it sounds like it's going to be a rolling thing going forward.

 

Nothing in the official statements say anything about a limited timeframe.  This is often added by the journalist with a "for example" added as explanation.

 

Also unclear is whether the newly announced "tax holiday" for income prior to Jan 01 2024 will be rescinded.

 

"Hub of making tax planning nigh on unpossible"

in perspective ,,,,

 

The problem with this is what would you invest the money in here in Thailand?  The Thai stock market is a joke, the economy is faltering, real estate prices are not increasing significantly, interest rates are low, where would you get any real rate of return?

10 minutes ago, DrPhibes said:

The problem with this is what would you invest the money in here in Thailand?  The Thai stock market is a joke, the economy is faltering, real estate prices are not increasing significantly, interest rates are low, where would you get any real rate of return?

GOLD

12 minutes ago, whiteman said:

GOLD

You can buy gold anywhere in the world with less instability in the tax law than here.

16 hours ago, TallGuyJohninBKK said:

BTW, this report above is pretty different from one of the last major reports on this topic posted here, which if I recall correctly, didn't envision a single two-year tax amnesty period like above, but rather, an ongoing, rolling period where funds could be remitted tax free as long as earned in the current or following one year thereafter.

 

16 hours ago, anrcaccount said:

It seems the latest regulation allowing exemption for income earned before 2024 will be wiped

 

The more  thai tax news i read, the more I am confused.

We left Thailand due to this tax rule after a happy 25+ yrs. Now paying limited income tax in a country we get BENEFITS from our tax such as free schooling, healthcare, medecines and more honest policing and judiciaries.

We are not coming back no matter how many u-turns these clowns make.

Anything new today?

I hope my LTR visa tax exemption status will survive this madness.

On 6/4/2025 at 4:35 PM, snoop1130 said:

This initiative, aimed at reeling in an estimated 2 trillion baht in investments from abroad, seeks to revitalise Thailand's struggling economy by attracting capital locked in international real estate, insurance schemes, and offshore funds.

 

Yeah, make the baht even stronger... 😉 

Reduce the tax on dividends from 10% to 1% for a year or two and billions will flood into the economy.  Are you listening Thaksin?

On 6/5/2025 at 5:46 PM, Dogmatix said:

It is very unclear but the announcements made so far could easily  be interpreted to mean that overseas income is taxable in Thailand, unless remitted to Thailand in the tax year it arose or the following year

I don't see anything in the new proposal that eliminates the remittance aspect of Thai taxation. Only that foreign assessable income in 2025 is not taxable if remitted to Thailand in 2025/2026. But, if remitted after that, it would be subject to tax.

 

Which is really screwy. Say my 2025 US income, assessable if remitted post 2026, is used in 2025 to buy a car and a stock. In 2030 I sell both, none with a capital gain. I then remit the proceeds to Thailand. Is this still income? Is money that begins life as income, always and forever still income? I don't think so. And there's no way Thai RD would ever know this remittance of sale proceeds was originally 2025 income -- unless under self assessment I say so. Which, I'm sure, I wouldn't do -- with my integrity intact. 

 

And furthermore, it's most likely this 2025 income got filtered through my checking or savings account. So, how much of that checking account used to buy the car and stock -- consisted of my 2025 income? With my large checking account, and using FIFO -- none would be 2025 income.

 

Are the Thais really so, "ready, fire, aim?" I guess maybe so...