TAX on Income from Abroad

[vincemunday]

Maybe not news to all, but, the first I heard if it was just a couple of days ago and it was relayed to me in the way I have typed it above. However, I'm grateful for your input, thank you, I'm a little more at ease than I was this morning

[sometimewoodworker]

Maybe not news to all, but, the first I heard if it was just a couple of days ago and it was relayed to me in the way I have typed it above. However, I'm grateful for your input, thank you, I'm a little more at ease than I was this morning

Please pass on the real situation to those spreading either false or very misleading information.

The information above is an abbreviated summary of the case, each nationality will have a different DTA (there are more than 60) so will need tax advice tailored to their circumstances.

[maaka]

Yes, well said..my country has a Dual Tax Agreement, so I got a copy, and even though I know nothing of tax, it outlined the situation in that regard, and I think I stated before, it comes down to ' words ' used in the Agreement..such as resident, income, etc etc...if you have a DTA go read it. avail yourself of what may come to pass.

[sometimewoodworker]

Yes, well said..my country has a Dual Tax Agreement, so I got a copy, and even though I know nothing of tax, it outlined the situation in that regard, and I think I stated before, it comes down to ' words ' used in the Agreement..such as resident, income, etc etc...if you have a DTA go read it. avail yourself of what may come to pass.

While reading the DTA is a good first step it is unlikely to be sufficient.

As an example HMRC and the Thai taxation department have an agreement recently concluded related to capital gains tax. A professional taxation adviser such as PWC will have details regarding all such arrangements and will have a duty to minimise your tax, this is not something that the Thai taxation department has, so while they will of course give answers to a direct question, you must know exactly the question to ask and asking general questions will not be helpful and may even not get the results you want, it’s not the job of the taxation department to minimise your tax liability.

[tamada]

To summarize:

Previously, anyone earning income overseas and remitting it to Thailand, whilst they were tax resident here, had to wait until the following year in order to escape Thai tax on that income.

Now, it doesn't matter when the money is remitted, the same year, the next year or five years later, it becomes taxable whenever it is remitted.

Previously, remitted savings were never taxable, exempt income was never taxable and income covered by a DTA, was not taxable in Thailand....those things haven't changed.

Previously, income that was taxed overseas could be remitted to Thailand and the DTA invoked. That meant that the tax already paid overseas, could be used to offset any Thai tax and the average net taxation effect would be very similar, in most cases. That hasn't changed.

Previously, foreigners who were tax resident in Thailand and who had even fairly low levels of assessable income, were always required to file a Thai tax return. That hasn't changed.

Previously, foreign tax residents with no assessable income in Thailand, are not required to file a Thai tax return. That hasn't changed.

[Doodoo]

And where has all this wisdom come from Tam?

[Bandung_Dero]

Not as long as I'm breathing am I going to fill in a Thai tax return or pay em a single Baht.
If necessary I'll hire a lawyer and drag it out for ever and hopefully get some more supporters to turn it into a class action.

Shiiit, the elite can do it why not we long term expats. Eg Thaskin, Boss, the minister for watches and all things corrupt etc.

[tamada]

Inevitably, there will be much wailing and gnashing of teeth.

...and paying Thai taxes.

[jackspratt]

Inevitably, there will be much wailing and gnashing of teeth.

...and paying Thai taxes.

......and/or hefty penalties.

[Bandung_Dero]

......and/or hefty penalties.

Can't get blood from a stone!!! My bank acct will be empty and Ms Dodgy Visa Udon will be 20K better off every year.
So what do you think they are going to do with 1,000,000 defiant Farang who dig their heals in, get on social media, and threaten their economic restructure through the likes of long term visas etc. IMHO the Thais are not that stupid and this whole crock will go away.

[tamada]

Insert ostrich meme [here]

[Khun Paul]

The question of taxing your previously taxed income will rumble on for months, the real QUESTION : Is what is in it for us, as many facilities enjoy double pricing including the Local Hospital as a taxpayer one should therefore have the same rate as a THAI , anything assisted or paid for by the Government should become same price for foreigner.

As an aside by pension provider has categorically stated no information WILL be sent to a foreign Government only produce the same paperwork as normal

[glalt]

I have not transferred any money over here in 2024. I recently sold a condo that I had owned for 20 years and that money is in my Thai bank. That money will last me for a couple of years so I hope to have escaped any Thai taxes. Also, i can easily live comfortably on just my US Social Security. My Social Security and another small pension are direct deposited into my US bank.

[glalt]

I have not transferred any money over here in 2024. I recently sold a condo that I had owned for 20 years and that money is in my Thai bank. That money will easily last me for more than a couple of years so I hope to have escaped any Thai taxes. Also, i can easily live comfortably on just my US Social Security. My Social Security and another small pension are direct deposited into my US bank.

[glalt]

Double post.

[Brian Davis]

Just an observation here. Who knows whether all of this will come into existence, or not? But I see essentially two agencies involved – Thai Immigration and the Tax Office, or whatever the latter’s correct title is. There’s bound to be some overlapping (e.g. presumably the latter will need to know from the former names, addresses, passport number/country, type of visa and which money criteria is being used etc.). But the roles of the two bodies are different. Immigration checks your entitlement to stay in the country, visas, extensions, family, age, sufficient money and the like, but tax doesn’t come into it. The Tax Office’s function is just that, tax, in this case for foreigners already permitted to be here.
Whilst there may be co-operation, I cannot see the two bodies ‘treading on each other’s toes’. So, let’s say a foreigner is assessed to pay tax here, but refuses. As it stands, could that lead to a revoking of a visa/extension of stay, actual entitlement to be here? I can’t imagine so, but I could be wrong. The latter involves separate rules, regulations, criteria. The tax problem would have to be resolved by other means (courts?).
Or a case that the Thai authorities can/will do exactly what they choose?

[Bandung_Dero]

Insert ostrich meme [here]

Got no idea what this comment means or who it is pointed at?
So what will be your position come March 2025? The way I see it you will pass the 180 day exclusion limit. And still telling anyone interested you are going overseas working, from time to time, on this site.

In fact I would like to know the intentions of all Farang come the deadline!

[jackspratt]

In fact I would like to know the intentions of all Farang come the deadline!

I'll be complying with the Thai tax laws.

[glalt]

I really think this is a tempest in a tea cup. Thailand is not stupid enough to jeopardize future retirees. It appears that just the speculations have already cost the country some people who were planning to retire here. Retirees pay VAT and that is where most of Thailand's income comes from.

[Doodoo]

This 180 day rule is it 180 days out 365 or is it consecutive 180 days? Meaning you can spend 180 days in Thai leave for 3-4 days then come back for another 180 days