6 minutes ago, treetops said:

 

Don't believe half of what you read on these expat tax charlatan's websites.

Are you being serious? You really think the Thai tax authorities have the right to tax my savings from before I even move to Thailand?

Just now, JontS said:

Are you being serious? You really think the Thai tax authorities have the right to tax my savings from before I even move to Thailand?

 

I deliberately avoided saying that and was giving a general warning that these guys often get things wrong.

 

However, in your specific example it's probably not black and white.  If the money is in a simple bank account and you have a statement from 31/12/2023 showing a balance, then that balance should not be taxable if brought into Thailand.  If however that money gets added to in any form (interest, further deposits etc) it could get messy.

 

If the money is held in pensions, stocks or other financial instruments then all bets are off, and given what we read or watch the taxman could claim some of it.

 

I'm a firm believer that the taxman is not interested in us run of the mill foreigners living here on retirement or marriage extensions, but that could change down the line.

8 hours ago, Yumthai said:

 

This is Thai tax law. It applies to Thai financial institutions and corporate enties only.

 

If so, then it does not apply to offshore accounts.

There are similar WHT rules in the UK, if you are resident.

I had already stated that the USA has specific rules.

And that i do not have any WHT on us investment funds because i have made declarations to my investment bank  that i am not a us citizen and not subject to us taxes. They also know where i am resident (here) and my tax ID.

 

1 hour ago, treetops said:

 

I deliberately avoided saying that and was giving a general warning that these guys often get things wrong.

 

However, in your specific example it's probably not black and white.  If the money is in a simple bank account and you have a statement from 31/12/2023 showing a balance, then that balance should not be taxable if brought into Thailand.  If however that money gets added to in any form (interest, further deposits etc) it could get messy.

 

If the money is held in pensions, stocks or other financial instruments then all bets are off, and given what we read or watch the taxman could claim some of it.

 

I'm a firm believer that the taxman is not interested in us run of the mill foreigners living here on retirement or marriage extensions, but that could change down the line.

Thanks for the input. Yes, it is not black and white, but there is no way the Thai authorities are getting any of my savings that I already paid taxes on. I'm happy to pay taxes on my income that I earn while living here and bring into Thailand. The tricky part is how to separate my savings and my income, interest, stock gains etc.

8 hours ago, JontS said:

I think you are misunderstanding how this works (fortunately :)) - Thailand has nothing to do with my income earned (and taxed) before living in Thailand. I moved to Thailand in April 2025. They can only claim taxes on income earned after I become a tax resident. 

Now you explained thanks, its possible to understand your specific situation.

I am not a professional tax advisor, but i consider that you should only be liable to tax on income after you became resident, and only if it is remitted to thailand ( as things currently stand)

I trust things work out that way.