Remittance Tax

[Leung Falang]

I noticed an article on  inexpensive places to live in the US and the world.  Malaysia, Philippines, and Thailand made the list.  I was however amazed to read that there was a remittance tax on money brought into Thailand of 26% if I remember correctly.  I have never heard of this.

[ubonjoe]

26 minutes ago, Leung Falang said:

I have never heard of this.

Probably because it does not exist. There is no such tax.

[Dagnabbit]

I noticed an article on  inexpensive places to live in the US and the world.  Malaysia, Philippines, and Thailand made the list.  I was however amazed to read that there was a remittance tax on money brought into Thailand of 26% if I remember correctly.  I have never heard of this.

Withholding tax, you are confusing with.


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[simoh1490]

There was a temporary tax that was put in place some years ago but that was designed to stop speculators from making short term profits. The rules for that were something along the lines of an investment in certain types of financial instruments had to be held for a minimum period and if they weren't the sale became taxable. Those capital controls were short lived but were quite effective. There are no similar controls in place today for the average foreigner, I am unsure about whether institutional investors are also free of capital controls.

[Leung Falang]

No income in Thailand, no tax on our property (wife is Thai), so only VAT and the ever present highway tax of Baht 200 about once a year or so :)  Life can be nice and really inexpensive depending on life style and location.  For us, Mukdahan on the Mekong.  Lovely. My wife also is blessed to have super great friends from high school years in Loeng Nok Tha, and they are very very kind to this old farang.  :)