Thailand to amend tax on foreign income remittance
- Thread starter Mercury
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Just chipping in to FYI yall that you can gift 20M thb to your spouse tax free per year.
Just dont do it to this Ploy girl you met in Pattaya, go find yourself a nice northern girl
Just dont do it to this Ploy girl you met in Pattaya, go find yourself a nice northern girl
TheCryptoAnt said:
Just dont do it to this Ploy girl you met in Pattaya, go find yourself a nice northern girl
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Well I've got good memories with Ploy.
Just dont do it to this Ploy girl you met in Pattaya, go find yourself a nice northern girl
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Well I've got good memories with Ploy.
Mercury said:
Well I've got good memories with Ploy.
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If you have 20M thb worth of memories with Ploy...
Can I have her Line pls
Well I've got good memories with Ploy.
Click to expand...
If you have 20M thb worth of memories with Ploy...
Can I have her Line pls
TheCryptoAnt said:
If you have 20M thb worth of memories with Ploy...
Can I have her Line pls
Click to expand...
She's priceless, not sharing details
If you have 20M thb worth of memories with Ploy...
Can I have her Line pls
Click to expand...
She's priceless, not sharing details
Mercury said:
https://www.bangkokpost.com/busines...ent-to-amend-tax-on-foreign-income-remittance
As expected.
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Wait, what? This article says they're going to change the rules such that foreign income remitted within the year it's earned (or the following year) will not be taxable?
We started with foreign income remitted within the calendar year it was earned being taxable, then foreign income remitted any time being taxable (pre-2024 income excluded), and now foreign income remitted within the year it was earned or the following year not being taxable?
I certainly didn't expect this; is it too good to be true?
https://www.bangkokpost.com/busines...ent-to-amend-tax-on-foreign-income-remittance
As expected.
Click to expand...
Wait, what? This article says they're going to change the rules such that foreign income remitted within the year it's earned (or the following year) will not be taxable?
We started with foreign income remitted within the calendar year it was earned being taxable, then foreign income remitted any time being taxable (pre-2024 income excluded), and now foreign income remitted within the year it was earned or the following year not being taxable?
I certainly didn't expect this; is it too good to be true?
whatspat said:
Wait, what? This article says they're going to change the rules such that foreign income remitted within the year it's earned (or the following year) will not be taxable?
We started with foreign income remitted within the calendar year it was earned being taxable, then foreign income remitted any time being taxable (pre-2024 income excluded), and now foreign income remitted within the year it was earned or the following year not being taxable?
I certainly didn't expect this; is it too good to be true?
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'Under the new guidelines, Thais with foreign income will not be taxed if they remit that income in the year it was earned or the following year. For example, if income is earned in 2025 and brought into Thailand in 2025 or 2026, it is not subject to tax.
However, if the income is remitted after that period, normal tax obligations apply.'
From what I understand; bring your money now and spend it here, we wont tax you, but if you save it and bring it after, then we will tax you?
'This condition is intended to expedite the repatriation of foreign income, potentially supporting domestic investment, in line with government policy.'
Sounds like its lessgo time. Thailand has been doing quite poorly in the tourism front lately, mainly because this is not the dirt cheap place it once was imo.
The usual crowd is now in Vietnam for the most part.
Wait, what? This article says they're going to change the rules such that foreign income remitted within the year it's earned (or the following year) will not be taxable?
We started with foreign income remitted within the calendar year it was earned being taxable, then foreign income remitted any time being taxable (pre-2024 income excluded), and now foreign income remitted within the year it was earned or the following year not being taxable?
I certainly didn't expect this; is it too good to be true?
Click to expand...
'Under the new guidelines, Thais with foreign income will not be taxed if they remit that income in the year it was earned or the following year. For example, if income is earned in 2025 and brought into Thailand in 2025 or 2026, it is not subject to tax.
However, if the income is remitted after that period, normal tax obligations apply.'
From what I understand; bring your money now and spend it here, we wont tax you, but if you save it and bring it after, then we will tax you?
'This condition is intended to expedite the repatriation of foreign income, potentially supporting domestic investment, in line with government policy.'
Sounds like its lessgo time. Thailand has been doing quite poorly in the tourism front lately, mainly because this is not the dirt cheap place it once was imo.
The usual crowd is now in Vietnam for the most part.
Let’s not speak too soon, but if this does indeed happen, it would mean that all assets accumulated / income earned up until 31/12/2023 would be tax-exempt if repatriated to Thailand. And any new income from 2025 (or 2026?) onwards could potentially be repatriated in the same year or the following one, without tax?
It sounds a bit too good to be true, but I’m on board if it actually goes through, of course.
It sounds a bit too good to be true, but I’m on board if it actually goes through, of course.
toums said:
Let’s not speak too soon, but if this does indeed happen, it would mean that all assets accumulated / income earned up until 31/12/2023 would be tax-exempt if repatriated to Thailand. And any new income from 2025 (or 2026?) onwards could potentially be repatriated in the same year or the following one, without tax?
It sounds a bit too good to be true, but I’m on board if it actually goes through, of course.
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EDIT : "THAIS with foreign income".... Hopefully they dont do it ONLY for TH citizens, and falanggg get screwed again.
Let’s not speak too soon, but if this does indeed happen, it would mean that all assets accumulated / income earned up until 31/12/2023 would be tax-exempt if repatriated to Thailand. And any new income from 2025 (or 2026?) onwards could potentially be repatriated in the same year or the following one, without tax?
It sounds a bit too good to be true, but I’m on board if it actually goes through, of course.
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EDIT : "THAIS with foreign income".... Hopefully they dont do it ONLY for TH citizens, and falanggg get screwed again.
toums said:
Hopefully they dont do it ONLY for TH citizens, and falanggg get screwed again.
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from the article: "This rule applies to persons who stay in Thailand for 180 days or more and have foreign income."
Hopefully they dont do it ONLY for TH citizens, and falanggg get screwed again.
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from the article: "This rule applies to persons who stay in Thailand for 180 days or more and have foreign income."
despite good on paper, the instability of legislation I believe generated a loss of credibility. People cannot plan their relocation based on rules changing so often. This is a problem very similar to what happens in many EU countries where you have changes monthly.
ElBotellon said:
despite good on paper, the instability of legislation I believe generated a loss of credibility. People cannot plan their relocation based on rules changing so often. This is a problem very similar to what happens in many EU countries where you have changes monthly.
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TIT (This Is Thailand) - meaning things will change rapidly. I understand the frustration though, it makes it difficult to plan ahead.
despite good on paper, the instability of legislation I believe generated a loss of credibility. People cannot plan their relocation based on rules changing so often. This is a problem very similar to what happens in many EU countries where you have changes monthly.
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TIT (This Is Thailand) - meaning things will change rapidly. I understand the frustration though, it makes it difficult to plan ahead.
jeffbean said:
Isn’t Thailand still a good location to setup even if you extend 183 days?
Only the forgiven income remitted or locally earned is taxed in Thailand???
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It's actually 180days+ (not 183) in a calendar year.
Yes.
Isn’t Thailand still a good location to setup even if you extend 183 days?
Only the forgiven income remitted or locally earned is taxed in Thailand???
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It's actually 180days+ (not 183) in a calendar year.
Yes.
ElBotellon said:
despite good on paper, the instability of legislation I believe generated a loss of credibility. People cannot plan their relocation based on rules changing so often. This is a problem very similar to what happens in many EU countries where you have changes monthly.
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In truth its very easy really just come here and dont give a s**t. Never report, never pay, never nothing like fr nothing will ever happen to you.
Thailand is a place with a lot of rules and laws on paper but enforcement is negative at best
despite good on paper, the instability of legislation I believe generated a loss of credibility. People cannot plan their relocation based on rules changing so often. This is a problem very similar to what happens in many EU countries where you have changes monthly.
Click to expand...
In truth its very easy really just come here and dont give a s**t. Never report, never pay, never nothing like fr nothing will ever happen to you.
Thailand is a place with a lot of rules and laws on paper but enforcement is negative at best
TheCryptoAnt said:
Never report, never pay, never nothing like fr nothing will ever happen to you.
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Andrew, you never lose your style!
Never report, never pay, never nothing like fr nothing will ever happen to you.
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Andrew, you never lose your style!
TheCryptoAnt said:
In truth its very easy really just come here and dont give a s**t. Never report, never pay, never nothing like fr nothing will ever happen to you.
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In that sense, the rest of the world isn't much different. There are lots of other income types that if you don't report in Eastern-Europe nobody will care.
Problems usually only arise if an ex-girlfriend or a jealous neighbor decides to report you.
Thailand's tax residency was mainly useful if you needed papers while still holding significant assets in the West, so if authorities started asking questions, you could show them the papers.
In truth its very easy really just come here and dont give a s**t. Never report, never pay, never nothing like fr nothing will ever happen to you.
Click to expand...
In that sense, the rest of the world isn't much different. There are lots of other income types that if you don't report in Eastern-Europe nobody will care.
Problems usually only arise if an ex-girlfriend or a jealous neighbor decides to report you.
Thailand's tax residency was mainly useful if you needed papers while still holding significant assets in the West, so if authorities started asking questions, you could show them the papers.
jesuschrist said:
Thailand's tax residency was mainly useful if you needed papers while still holding significant assets in the West, so if authorities started asking questions, you could show them the papers.
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You can still get this and simultaneously not report anything like even I have a Thai tax ID (which Ive never used)
Thailand's tax residency was mainly useful if you needed papers while still holding significant assets in the West, so if authorities started asking questions, you could show them the papers.
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You can still get this and simultaneously not report anything like even I have a Thai tax ID (which Ive never used)
TheCryptoAnt said:
You can still get this and simultaneously not report anything like even I have a Thai tax ID (which Ive never used)
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Basically, no need Thai TIN in most cases.
You can still get this and simultaneously not report anything like even I have a Thai tax ID (which Ive never used)
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Basically, no need Thai TIN in most cases.
toums said:
Basically, no need Thai TIN in most cases.
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Not at all.
I opened an IBKR account some time ago and said 'Ive got no ITIN because I live here but have no taxable income' and went through np. Withholding tax applies correctly at 15% etc
Basically, no need Thai TIN in most cases.
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Not at all.
I opened an IBKR account some time ago and said 'Ive got no ITIN because I live here but have no taxable income' and went through np. Withholding tax applies correctly at 15% etc
TheCryptoAnt said:
Not at all.
I opened an IBKR account some time ago and said 'Ive got no ITIN because I live here but have no taxable income' and went through np. Withholding tax applies correctly at 15% etc
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Yep same. I updated with my TH address with some brokers / banks (IBKR included), without TIN. No problem too.
Not at all.
I opened an IBKR account some time ago and said 'Ive got no ITIN because I live here but have no taxable income' and went through np. Withholding tax applies correctly at 15% etc
Click to expand...
Yep same. I updated with my TH address with some brokers / banks (IBKR included), without TIN. No problem too.
If we dont have to declare taxes this year for remittance, how can we get tax residence certificate for DTA and for our original country?
xhomer2020 said:
If we dont have to declare taxes this year for remittance, how can we get tax residence certificate for DTA and for our original country?
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by length of stay, ask an agent.
If we dont have to declare taxes this year for remittance, how can we get tax residence certificate for DTA and for our original country?
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by length of stay, ask an agent.
TheCryptoAnt said:
Just chipping in to FYI yall that you can gift 20M thb to your spouse tax free per year.
Just dont do it to this Ploy girl you met in Pattaya, go find yourself a nice northern girl
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It's same everywhere. I met many Thai girls who had Farang bfs paying their monthly stipends to remain faithful to them. While all these girls were hmm
Just chipping in to FYI yall that you can gift 20M thb to your spouse tax free per year.
Just dont do it to this Ploy girl you met in Pattaya, go find yourself a nice northern girl
Click to expand...
It's same everywhere. I met many Thai girls who had Farang bfs paying their monthly stipends to remain faithful to them. While all these girls were hmm
JackAlabama said:
by length of stay, ask an agent.
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So stay less than 6 months in Thailand every year. That's all
by length of stay, ask an agent.
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So stay less than 6 months in Thailand every year. That's all
jesuschrist said:
In that sense, the rest of the world isn't much different. There are lots of other income types that if you don't report in Eastern-Europe nobody will care.
Problems usually only arise if an ex-girlfriend or a jealous neighbor decides to report you.
Thailand's tax residency was mainly useful if you needed papers while still holding significant assets in the West, so if authorities started asking questions, you could show them the papers.
Click to expand...
indeed, its quite good for a western perspective, but inside asia as well (mainly sing and hk).
In that sense, the rest of the world isn't much different. There are lots of other income types that if you don't report in Eastern-Europe nobody will care.
Problems usually only arise if an ex-girlfriend or a jealous neighbor decides to report you.
Thailand's tax residency was mainly useful if you needed papers while still holding significant assets in the West, so if authorities started asking questions, you could show them the papers.
Click to expand...
indeed, its quite good for a western perspective, but inside asia as well (mainly sing and hk).
blastah said:
https://www.bangkokpost.com/busines...roach-to-overseas-income-aims-to-spur-inflows
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A two-year period is to be allowed: the year in which the income was earned and the following year.
https://www.bangkokpost.com/busines...roach-to-overseas-income-aims-to-spur-inflows
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A two-year period is to be allowed: the year in which the income was earned and the following year.
Marzio said:
A two-year period is to be allowed: the year in which the income was earned and the following year.
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That means all the money has to be transferred to Thailand and no more overseas income or you will be taxed. Doesnt get any better.
A two-year period is to be allowed: the year in which the income was earned and the following year.
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That means all the money has to be transferred to Thailand and no more overseas income or you will be taxed. Doesnt get any better.
Davis123 said:
That means all the money has to be transferred to Thailand and no more overseas income or you will be taxed. Doesnt get any better.
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That's a misunderstanding of the new rule I think. The tax only applies to the money you actually bring into Thailand, not to all of your overseas income. You are not required to transfer all your funds. You can make partial remittances, and only the amount you bring in is considered for tax. And the improtant thing, if the money you remit was earned in the current year or the previous year, you wouldn't pay any tax on it
That means all the money has to be transferred to Thailand and no more overseas income or you will be taxed. Doesnt get any better.
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That's a misunderstanding of the new rule I think. The tax only applies to the money you actually bring into Thailand, not to all of your overseas income. You are not required to transfer all your funds. You can make partial remittances, and only the amount you bring in is considered for tax. And the improtant thing, if the money you remit was earned in the current year or the previous year, you wouldn't pay any tax on it
toums said:
Yep same. I updated with my TH address with some brokers / banks (IBKR included), without TIN. No problem too.
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UPDATE: IBKR just emailed me asking to update my TIN. I explained that I can't provide a Thai TIN, as I have no local income and don't remit any income to Thailand , therefore, I'm not required to file a tax return there.
Let's see how they respond.
Yep same. I updated with my TH address with some brokers / banks (IBKR included), without TIN. No problem too.
Click to expand...
UPDATE: IBKR just emailed me asking to update my TIN. I explained that I can't provide a Thai TIN, as I have no local income and don't remit any income to Thailand , therefore, I'm not required to file a tax return there.
Let's see how they respond.
toums said:
UPDATE: IBKR just emailed me asking to update my TIN. I explained that I can't provide a Thai TIN, as I have no local income and don't remit any income to Thailand , therefore, I'm not required to file a tax return there.
Let's see how they respond.
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If you don't remit any money how do you pay your expenses ? ATM machine?
UPDATE: IBKR just emailed me asking to update my TIN. I explained that I can't provide a Thai TIN, as I have no local income and don't remit any income to Thailand , therefore, I'm not required to file a tax return there.
Let's see how they respond.
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If you don't remit any money how do you pay your expenses ? ATM machine?
blastah said:
That's a misunderstanding of the new rule I think. The tax only applies to the money you actually bring into Thailand, not to all of your overseas income. You are not required to transfer all your funds. You can make partial remittances, and only the amount you bring in is considered for tax. And the improtant thing, if the money you remit was earned in the current year or the previous year, you wouldn't pay any tax on it
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Well CRS would report to them in case of any income overseas. Thailand is not a territorial taxation jurisdiction unlike Malaysia and countless others.
That's a misunderstanding of the new rule I think. The tax only applies to the money you actually bring into Thailand, not to all of your overseas income. You are not required to transfer all your funds. You can make partial remittances, and only the amount you bring in is considered for tax. And the improtant thing, if the money you remit was earned in the current year or the previous year, you wouldn't pay any tax on it
Click to expand...
Well CRS would report to them in case of any income overseas. Thailand is not a territorial taxation jurisdiction unlike Malaysia and countless others.
Davis123 said:
If you don't remit any money how do you pay your expenses ? ATM machine?
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You mix 2 points. Remit money and remit income.
Davis123 said:
Well CRS would report to them in case of any income overseas. Thailand is not a territorial taxation jurisdiction unlike Malaysia and countless others.
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Basically, in that situation, CRS doesn’t really matter. What matters is remitted income , Thailand can know whatever they want, but that doesn’t change how it’s taxed. Also, if you have multiple bases around the world, you can provide them with a different address (in another country), adding an extra layer of privacy depending on where you actually reside.
If you don't remit any money how do you pay your expenses ? ATM machine?
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You mix 2 points. Remit money and remit income.
Davis123 said:
Well CRS would report to them in case of any income overseas. Thailand is not a territorial taxation jurisdiction unlike Malaysia and countless others.
Click to expand...
Basically, in that situation, CRS doesn’t really matter. What matters is remitted income , Thailand can know whatever they want, but that doesn’t change how it’s taxed. Also, if you have multiple bases around the world, you can provide them with a different address (in another country), adding an extra layer of privacy depending on where you actually reside.
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toums said:
You mix 2 points. Remit money and remit income.
Basically, in that situation, CRS doesn’t really matter. What matters is remitted income , Thailand can know whatever they want, but that doesn’t change how it’s taxed. Also, if you have multiple bases around the world, you can provide them with a different address (in another country), adding an extra layer of privacy depending on where you actually reside.
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Basically if you are getting money from somewhere even an ATM it's accountable. I can see if you have multiple bases or layering it's doable but not everyone can do this unfortunately.
You mix 2 points. Remit money and remit income.
Basically, in that situation, CRS doesn’t really matter. What matters is remitted income , Thailand can know whatever they want, but that doesn’t change how it’s taxed. Also, if you have multiple bases around the world, you can provide them with a different address (in another country), adding an extra layer of privacy depending on where you actually reside.
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Basically if you are getting money from somewhere even an ATM it's accountable. I can see if you have multiple bases or layering it's doable but not everyone can do this unfortunately.
toums said:
You mix 2 points. Remit money and remit income.
Basically, in that situation, CRS doesn’t really matter. What matters is remitted income , Thailand can know whatever they want, but that doesn’t change how it’s taxed. Also, if you have multiple bases around the world, you can provide them with a different address (in another country), adding an extra layer of privacy depending on where you actually reside.
Click to expand...
Just found out Thailand stopped Carribean CBI country citizens an on arrival visa.
You mix 2 points. Remit money and remit income.
Basically, in that situation, CRS doesn’t really matter. What matters is remitted income , Thailand can know whatever they want, but that doesn’t change how it’s taxed. Also, if you have multiple bases around the world, you can provide them with a different address (in another country), adding an extra layer of privacy depending on where you actually reside.
Click to expand...
Just found out Thailand stopped Carribean CBI country citizens an on arrival visa.
Davis123 said:
Basically if you are getting money from somewhere even an ATM it's accountable. I can see if you have multiple bases or layering it's doable but not everyone can do this unfortunately.
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Read again, please , and make sure to distinguish between remitted MONEY and remitted INCOME.
If you are a tax resident in Thailand but have an existing net worth (principal, savings, etc.) that was accumulated before becoming tax resident, then this money can be remitted into Thailand tax-free, as it is NOT considered foreign income.
If, on the other hand, you didn’t have significant net worth prior to moving to Thailand and you're now living off your current income, then yes , the situation becomes more complicated.
However, even in that case, you can still choose to stay in Thailand for fewer than 180 days in a calendar year. This way, you are not considered a tax resident for that year, and you can remit funds (even for one or two years or more) without triggering taxation.
We’ve discussed these topics many times with @wellington , please double-check using the search function.
In any case, if Thailand confirms this new rule , where remitted income earned during the current year or the following one is tax-exempt , it would likely resolve 99% of the situations faced by ‘normal’ farangs living here.
Basically if you are getting money from somewhere even an ATM it's accountable. I can see if you have multiple bases or layering it's doable but not everyone can do this unfortunately.
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Read again, please , and make sure to distinguish between remitted MONEY and remitted INCOME.
If you are a tax resident in Thailand but have an existing net worth (principal, savings, etc.) that was accumulated before becoming tax resident, then this money can be remitted into Thailand tax-free, as it is NOT considered foreign income.
If, on the other hand, you didn’t have significant net worth prior to moving to Thailand and you're now living off your current income, then yes , the situation becomes more complicated.
However, even in that case, you can still choose to stay in Thailand for fewer than 180 days in a calendar year. This way, you are not considered a tax resident for that year, and you can remit funds (even for one or two years or more) without triggering taxation.
We’ve discussed these topics many times with @wellington , please double-check using the search function.
In any case, if Thailand confirms this new rule , where remitted income earned during the current year or the following one is tax-exempt , it would likely resolve 99% of the situations faced by ‘normal’ farangs living here.
toums said:
Read again, please , and make sure to distinguish between remitted MONEY and remitted INCOME.
If you are a tax resident in Thailand but have an existing net worth (principal, savings, etc.) that was accumulated before becoming tax resident, then this money can be remitted into Thailand tax-free, as it is NOT considered foreign income.
If, on the other hand, you didn’t have significant net worth prior to moving to Thailand and you're now living off your current income, then yes , the situation becomes more complicated.
However, even in that case, you can still choose to stay in Thailand for fewer than 180 days in a calendar year. This way, you are not considered a tax resident for that year, and you can remit funds (even for one or two years or more) without triggering taxation.
We’ve discussed these topics many times with @wellington , please double-check using the search function.
In any case, if Thailand confirms this new rule , where remitted income earned during the current year or the following one is tax-exempt , it would likely resolve 99% of the situations faced by ‘normal’ farangs living here.
Click to expand...
Most Farangs have considerable investment income coming in from outside Thailand so they would have to pay taxes. Therefore, many have left already or in process of moving. Remittance from savings before tax resident doesn't get included I know but passive income would be taxable.
Read again, please , and make sure to distinguish between remitted MONEY and remitted INCOME.
If you are a tax resident in Thailand but have an existing net worth (principal, savings, etc.) that was accumulated before becoming tax resident, then this money can be remitted into Thailand tax-free, as it is NOT considered foreign income.
If, on the other hand, you didn’t have significant net worth prior to moving to Thailand and you're now living off your current income, then yes , the situation becomes more complicated.
However, even in that case, you can still choose to stay in Thailand for fewer than 180 days in a calendar year. This way, you are not considered a tax resident for that year, and you can remit funds (even for one or two years or more) without triggering taxation.
We’ve discussed these topics many times with @wellington , please double-check using the search function.
In any case, if Thailand confirms this new rule , where remitted income earned during the current year or the following one is tax-exempt , it would likely resolve 99% of the situations faced by ‘normal’ farangs living here.
Click to expand...
Most Farangs have considerable investment income coming in from outside Thailand so they would have to pay taxes. Therefore, many have left already or in process of moving. Remittance from savings before tax resident doesn't get included I know but passive income would be taxable.
Davis123 said:
Just found out Thailand stopped Carribean CBI country citizens an on arrival visa.
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Oh, can you please send more info about that?
Just found out Thailand stopped Carribean CBI country citizens an on arrival visa.
Click to expand...
Oh, can you please send more info about that?
Davis123 said:
Most Farangs have considerable investment income coming in from outside Thailand so they would have to pay taxes. Therefore, many have left already or in process of moving. Remittance from savings before tax resident doesn't get included I know but passive income would be taxable.
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I'm sorry, but I'm done arguing with you. It's clear that you don't understand the basic distinctions between :
LOCAL INCOME / FOREIGN INCOME
REMITTED MONEY / REMITTED INCOME / OFFSHORE MONEY-INCOME NOT REMITTED
I believe I took the time to explain things clearly. Do your own research.
Most Farangs have considerable investment income coming in from outside Thailand so they would have to pay taxes. Therefore, many have left already or in process of moving. Remittance from savings before tax resident doesn't get included I know but passive income would be taxable.
Click to expand...
I'm sorry, but I'm done arguing with you. It's clear that you don't understand the basic distinctions between :
LOCAL INCOME / FOREIGN INCOME
REMITTED MONEY / REMITTED INCOME / OFFSHORE MONEY-INCOME NOT REMITTED
I believe I took the time to explain things clearly. Do your own research.
toums said:
I'm sorry, but I'm done arguing with you. It's clear that you don't understand the basic distinctions between :
LOCAL INCOME / FOREIGN INCOME
REMITTED MONEY / REMITTED INCOME / OFFSHORE MONEY-INCOME NOT REMITTED
I believe I took the time to explain things clearly. Do your own research.
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I am just trying to gather information not arguing. Maybe the accountant in Thailand i had talked to was incorrect . You maybe correct as you might have better information.
I'm sorry, but I'm done arguing with you. It's clear that you don't understand the basic distinctions between :
LOCAL INCOME / FOREIGN INCOME
REMITTED MONEY / REMITTED INCOME / OFFSHORE MONEY-INCOME NOT REMITTED
I believe I took the time to explain things clearly. Do your own research.
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I am just trying to gather information not arguing. Maybe the accountant in Thailand i had talked to was incorrect . You maybe correct as you might have better information.
Davis123 said:
Maybe the accountant in Thailand i had talked to was incorrect
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Thai accountants are far to be the most reliable source of information. Anyway, it ain't easy to keep the pace of constantly changing rules and laws.
Just keep in mind the most important: there is merely no tax enforcement in Thailand, and in any case always negotiable.
Maybe the accountant in Thailand i had talked to was incorrect
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Thai accountants are far to be the most reliable source of information. Anyway, it ain't easy to keep the pace of constantly changing rules and laws.
Just keep in mind the most important: there is merely no tax enforcement in Thailand, and in any case always negotiable.
Mercury said:
Thai accountants are far to be the most reliable source of information. Anyway, it ain't easy to keep the pace of constantly changing rules and laws.
Just keep in mind the most important: there is merely no tax enforcement in Thailand, and in any case always negotiable.
Click to expand...
So, simple thing, if somebody getting income from rent of his apartment in other country, or working remotely for us company (getting payment on european bank) and so on and so on. And in Thailand he just withdrawal cash in ATM from his foreign card - he do not need to pay anything in Thai even if he is >180 days there (otherwise, if < 180, also)?
Thai accountants are far to be the most reliable source of information. Anyway, it ain't easy to keep the pace of constantly changing rules and laws.
Just keep in mind the most important: there is merely no tax enforcement in Thailand, and in any case always negotiable.
Click to expand...
So, simple thing, if somebody getting income from rent of his apartment in other country, or working remotely for us company (getting payment on european bank) and so on and so on. And in Thailand he just withdrawal cash in ATM from his foreign card - he do not need to pay anything in Thai even if he is >180 days there (otherwise, if < 180, also)?
Dreamy said:
So, simple thing, if somebody getting income from rent of his apartment in other country, or working remotely for us company (getting payment on european bank) and so on and so on. And in Thailand he just withdrawal cash in ATM from his foreign card - he do not need to pay anything in Thai even if he is >180 days there (otherwise, if < 180, also)?
Click to expand...
Assuming you're talking about after this new rule is implemented (and if it's implemented as most recently described), then foreign rental income remitted to Thailand in the year it's earned or the following year would be exempt from income tax in Thailand. If it's never remitted at all, or remitted in a year when not tax resident in Thailand, it's also not taxable under current rules.
Personal income earned "working remotely" (i.e., earned while working in Thailand) remains taxable regardless of remittance status, because it's not foreign source income. The latter is also technically illegal (requires correct visa and work permit), however labor and tax law in such cases is rarely enforced.
So, simple thing, if somebody getting income from rent of his apartment in other country, or working remotely for us company (getting payment on european bank) and so on and so on. And in Thailand he just withdrawal cash in ATM from his foreign card - he do not need to pay anything in Thai even if he is >180 days there (otherwise, if < 180, also)?
Click to expand...
Assuming you're talking about after this new rule is implemented (and if it's implemented as most recently described), then foreign rental income remitted to Thailand in the year it's earned or the following year would be exempt from income tax in Thailand. If it's never remitted at all, or remitted in a year when not tax resident in Thailand, it's also not taxable under current rules.
Personal income earned "working remotely" (i.e., earned while working in Thailand) remains taxable regardless of remittance status, because it's not foreign source income. The latter is also technically illegal (requires correct visa and work permit), however labor and tax law in such cases is rarely enforced.
whatspat said:
Personal income earned "working remotely" (i.e., earned while working in Thailand) remains taxable regardless of remittance status, because it's not foreign source income. The latter is also technically illegal (requires correct visa and work permit), however labor and tax law in such cases is rarely enforced.
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DTV visa allows working remotely from thailand and leave the money outside in US bank. I dont think you have to pay taxes for this, only if you remit some part to thailand or you are being paid in a thai bank.
Personal income earned "working remotely" (i.e., earned while working in Thailand) remains taxable regardless of remittance status, because it's not foreign source income. The latter is also technically illegal (requires correct visa and work permit), however labor and tax law in such cases is rarely enforced.
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DTV visa allows working remotely from thailand and leave the money outside in US bank. I dont think you have to pay taxes for this, only if you remit some part to thailand or you are being paid in a thai bank.
xhomer2020 said:
DTV visa allows working remotely from thailand and leave the money outside in US bank. I dont think you have to pay taxes for this, only if you remit some part to thailand or you are being paid in a thai bank.
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That’s a common misconception (although as stated, enforcement is lax). Working in Thailand as a foreigner almost always requires a work permit, and there were no changes to tax regulations coinciding with the DTV (unlike with LTR).
It’s not the first time the MFA has made misleading claims about entitlements associated with various visas; they are entirely separate to the revenue and labor departments, who rarely make changes to their applicable regulations. The MFA granting you entry on the basis of being a “digital nomad” has no impact on your right to work, nor on your tax status. My guess is that their statements about tax were based on the assumption the DTV holder would stay for less than 180 days in the year, making them non resident for taxation purposes, and they didn’t clarify this would no longer be true if one extended their stay beyond that period within the year.
Where you receive income is not a factor in determining income tax liability for active income, DTV or not. Receiving money into an account outside a country does not make it foreign source income.
DTV visa allows working remotely from thailand and leave the money outside in US bank. I dont think you have to pay taxes for this, only if you remit some part to thailand or you are being paid in a thai bank.
Click to expand...
That’s a common misconception (although as stated, enforcement is lax). Working in Thailand as a foreigner almost always requires a work permit, and there were no changes to tax regulations coinciding with the DTV (unlike with LTR).
It’s not the first time the MFA has made misleading claims about entitlements associated with various visas; they are entirely separate to the revenue and labor departments, who rarely make changes to their applicable regulations. The MFA granting you entry on the basis of being a “digital nomad” has no impact on your right to work, nor on your tax status. My guess is that their statements about tax were based on the assumption the DTV holder would stay for less than 180 days in the year, making them non resident for taxation purposes, and they didn’t clarify this would no longer be true if one extended their stay beyond that period within the year.
Where you receive income is not a factor in determining income tax liability for active income, DTV or not. Receiving money into an account outside a country does not make it foreign source income.
TheCryptoAnt said:
Just dont do it to this Ploy girl you met in Pattaya, go find yourself a nice northern girl
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in Thailand ?
Just dont do it to this Ploy girl you met in Pattaya, go find yourself a nice northern girl
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in Thailand ?
whatspat said:
My guess is that their statements about tax were based on the assumption the DTV holder would stay for less than 180 days in the year, making them non resident for taxation purposes, and they didn’t clarify this would no longer be true if one extended their stay beyond that period within the year.
Click to expand...
Non-residents for tax purpose still have to declare and pay tax on income derived from local work.
Theoretically, working from your laptop while in Thailand could be considered as local work. No worries, this is not enforced.
My guess is that their statements about tax were based on the assumption the DTV holder would stay for less than 180 days in the year, making them non resident for taxation purposes, and they didn’t clarify this would no longer be true if one extended their stay beyond that period within the year.
Click to expand...
Non-residents for tax purpose still have to declare and pay tax on income derived from local work.
Theoretically, working from your laptop while in Thailand could be considered as local work. No worries, this is not enforced.
whatspat said:
That’s a common misconception (although as stated, enforcement is lax). Working in Thailand as a foreigner almost always requires a work permit, and there were no changes to tax regulations coinciding with the DTV (unlike with LTR).
It’s not the first time the MFA has made misleading claims about entitlements associated with various visas; they are entirely separate to the revenue and labor departments, who rarely make changes to their applicable regulations. The MFA granting you entry on the basis of being a “digital nomad” has no impact on your right to work, nor on your tax status. My guess is that their statements about tax were based on the assumption the DTV holder would stay for less than 180 days in the year, making them non resident for taxation purposes, and they didn’t clarify this would no longer be true if one extended their stay beyond that period within the year.
Where you receive income is not a factor in determining income tax liability for active income, DTV or not. Receiving money into an account outside a country does not make it foreign source income.
Click to expand...
this is not true, and is FUD, i know many people with LLC in thailand and DTV working from here and living full year in thailand just doing 1 border run a year for the 180 days and they just pay almost nothing here just few hundred dollars for remitted money, while keeping the rest of their money and investment outside. I know some people who applied for DTV workcation showing their LLC papers and huge income that they dont tax here. Before DTV there were in same way many foraigners working remote here, the only thing thailand care about is if you work and get a job in thailand that other thai person could be doing, if you work remote for your own company or remote company they dont care about. the visa has nothing do with the non-resident taxation if you spend +180 in thailand with DTV or LTR or doing visa runs you have to pay taxes only for the money remitted and bring into thailand.
That’s a common misconception (although as stated, enforcement is lax). Working in Thailand as a foreigner almost always requires a work permit, and there were no changes to tax regulations coinciding with the DTV (unlike with LTR).
It’s not the first time the MFA has made misleading claims about entitlements associated with various visas; they are entirely separate to the revenue and labor departments, who rarely make changes to their applicable regulations. The MFA granting you entry on the basis of being a “digital nomad” has no impact on your right to work, nor on your tax status. My guess is that their statements about tax were based on the assumption the DTV holder would stay for less than 180 days in the year, making them non resident for taxation purposes, and they didn’t clarify this would no longer be true if one extended their stay beyond that period within the year.
Where you receive income is not a factor in determining income tax liability for active income, DTV or not. Receiving money into an account outside a country does not make it foreign source income.
Click to expand...
this is not true, and is FUD, i know many people with LLC in thailand and DTV working from here and living full year in thailand just doing 1 border run a year for the 180 days and they just pay almost nothing here just few hundred dollars for remitted money, while keeping the rest of their money and investment outside. I know some people who applied for DTV workcation showing their LLC papers and huge income that they dont tax here. Before DTV there were in same way many foraigners working remote here, the only thing thailand care about is if you work and get a job in thailand that other thai person could be doing, if you work remote for your own company or remote company they dont care about. the visa has nothing do with the non-resident taxation if you spend +180 in thailand with DTV or LTR or doing visa runs you have to pay taxes only for the money remitted and bring into thailand.
xhomer2020 said:
this is not true, and is FUD, i know many people …
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You’re wrong, and confusing enforcement with the law. There are no exemptions from income tax associated with the DTV.
Active income earned while in Thailand is not foreign source income, no matter how or where it’s received, and remittance doesn’t matter (remittance rules only apply to foreign source income).
this is not true, and is FUD, i know many people …
Click to expand...
You’re wrong, and confusing enforcement with the law. There are no exemptions from income tax associated with the DTV.
Active income earned while in Thailand is not foreign source income, no matter how or where it’s received, and remittance doesn’t matter (remittance rules only apply to foreign source income).
jeffbean said:
The Royal decree and the official Thai tax website still says if income earned abroad is not remitted to Thailand it is NOT taxed.
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Read it again very carefully and you’ll discover it applies to foreign source income, which is a very well defined term in tax law. Active income (which includes accruing income by exerting personal effort) is not foreign source income with respect to the territory in which it is performed.
The Royal decree and the official Thai tax website still says if income earned abroad is not remitted to Thailand it is NOT taxed.
Click to expand...
Read it again very carefully and you’ll discover it applies to foreign source income, which is a very well defined term in tax law. Active income (which includes accruing income by exerting personal effort) is not foreign source income with respect to the territory in which it is performed.
whatspat said:
Read it again very carefully and you’ll discover it applies to foreign source income, which is a very well defined term in tax law. Active income (which includes accruing income by exerting personal effort) is not foreign source income with respect to the territory in which it is performed.
Click to expand...
maybe your interpretation of the law is different to the thousends of digital nomads and entrepreneur working from their condo in thailand and not paying any tax in thailand. there are people saying the same from every territorial country like paraguay that if you work there is not considered foreign source in the practice is not applied like that.
Thailand TRD knows almost all farangs on DTV are working in thailand online and is not letting open them banks accounts or get TaxIds so they have 0 interest in them paying any tax in thailand of they active earned money while working in thailand.
Read it again very carefully and you’ll discover it applies to foreign source income, which is a very well defined term in tax law. Active income (which includes accruing income by exerting personal effort) is not foreign source income with respect to the territory in which it is performed.
Click to expand...
maybe your interpretation of the law is different to the thousends of digital nomads and entrepreneur working from their condo in thailand and not paying any tax in thailand. there are people saying the same from every territorial country like paraguay that if you work there is not considered foreign source in the practice is not applied like that.
Thailand TRD knows almost all farangs on DTV are working in thailand online and is not letting open them banks accounts or get TaxIds so they have 0 interest in them paying any tax in thailand of they active earned money while working in thailand.
xhomer2020 said:
maybe your interpretation of the law is different to the thousends of digital nomads and entrepreneur working from their condo in thailand and not paying any tax in thailand. there are people saying the same from every territorial country like paraguay that if you work there is not considered foreign source in the practice is not applied like that.
Thailand TRD knows almost all farangs on DTV are working in thailand online and is not letting open them banks accounts or get TaxIds so they have 0 interest in them paying any tax in thailand of they active earned money while working in thailand.
Click to expand...
Keep on living on ATM machines. Enjoy your life.
maybe your interpretation of the law is different to the thousends of digital nomads and entrepreneur working from their condo in thailand and not paying any tax in thailand. there are people saying the same from every territorial country like paraguay that if you work there is not considered foreign source in the practice is not applied like that.
Thailand TRD knows almost all farangs on DTV are working in thailand online and is not letting open them banks accounts or get TaxIds so they have 0 interest in them paying any tax in thailand of they active earned money while working in thailand.
Click to expand...
Keep on living on ATM machines. Enjoy your life.
xhomer2020 said:
maybe your interpretation of the law is different to the thousends of digital nomads and entrepreneur working from their condo in thailand and not paying any tax in thailand. there are people saying the same from every territorial country like paraguay that if you work there is not considered foreign source in the practice is not applied like that.
Thailand TRD knows almost all farangs on DTV are working in thailand online and is not letting open them banks accounts or get TaxIds so they have 0 interest in them paying any tax in thailand of they active earned money while working in thailand.
Click to expand...
Try it in Mauritius .
maybe your interpretation of the law is different to the thousends of digital nomads and entrepreneur working from their condo in thailand and not paying any tax in thailand. there are people saying the same from every territorial country like paraguay that if you work there is not considered foreign source in the practice is not applied like that.
Thailand TRD knows almost all farangs on DTV are working in thailand online and is not letting open them banks accounts or get TaxIds so they have 0 interest in them paying any tax in thailand of they active earned money while working in thailand.
Click to expand...
Try it in Mauritius .
xhomer2020 said:
maybe your interpretation of the law is different to the thousends of digital nomads and entrepreneur working from their condo in thailand and not paying any tax in thailand.
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There is no interpretation here, the law is unambiguous and nearly identical in effect to many other countries. What happens in practice due to ignorance, lack of enforcement or other reasons is as you say, but it’s not correct legally.
xhomer2020 said:
Thailand TRD knows almost all farangs on DTV are working in thailand online and is not letting open them banks accounts or get TaxIds so they have 0 interest in them paying any tax in thailand of they active earned money while working in thailand.
Click to expand...
TRD isn’t preventing people from getting bank accounts, that’s mostly down to the banks lack of interest, incompetence, or concern about the new AML regulations which expose them to liability and penalties. Saying “no” is the easy option for them.
TID is a different matter; the system is old fashioned and designed with an assumption that taxpayers would be working for a local entity (same assumption underpins labor law regarding work permits). In the past, wanting to claim back tax withheld from bank account interest payments was sufficient to obtain a TID, not sure if it’s still the case.
The law states that all tax residents (visa type has no bearing on this factual matter) are obliged to obtain one and file an annual return; this doesn’t mean the bureaucracy makes it easy to comply.
maybe your interpretation of the law is different to the thousends of digital nomads and entrepreneur working from their condo in thailand and not paying any tax in thailand.
Click to expand...
There is no interpretation here, the law is unambiguous and nearly identical in effect to many other countries. What happens in practice due to ignorance, lack of enforcement or other reasons is as you say, but it’s not correct legally.
xhomer2020 said:
Thailand TRD knows almost all farangs on DTV are working in thailand online and is not letting open them banks accounts or get TaxIds so they have 0 interest in them paying any tax in thailand of they active earned money while working in thailand.
Click to expand...
TRD isn’t preventing people from getting bank accounts, that’s mostly down to the banks lack of interest, incompetence, or concern about the new AML regulations which expose them to liability and penalties. Saying “no” is the easy option for them.
TID is a different matter; the system is old fashioned and designed with an assumption that taxpayers would be working for a local entity (same assumption underpins labor law regarding work permits). In the past, wanting to claim back tax withheld from bank account interest payments was sufficient to obtain a TID, not sure if it’s still the case.
The law states that all tax residents (visa type has no bearing on this factual matter) are obliged to obtain one and file an annual return; this doesn’t mean the bureaucracy makes it easy to comply.
whatspat said:
Read it again very carefully and you’ll discover it applies to foreign source income, which is a very well defined term in tax law. Active income (which includes accruing income by exerting personal effort) is not foreign source income with respect to the territory in which it is performed.
Click to expand...
Read it again very carefully and you’ll discover it applies to foreign source income, which is a very well defined term in tax law. Active income (which includes accruing income by exerting personal effort) is not foreign source income with respect to the territory in which it is performed.
Click to expand...
- Active income, such as salaries or freelance earnings from a foreign employer or clients, is considered foreign-sourced if the employer or client is located outside Thailand and the income is paid to an overseas account. As long as this income is not brought into Thailand (e.g., transferred to a Thai bank account), it remains exempt from Thai income tax, even if you are a tax resident.
- However, if you are working remotely in Thailand for a Thai employer or client, the income is considered Thai-sourced and is taxable in Thailand, regardless of whether you are a tax resident or where the income is paid.
xhomer2020 said:
Click to expand...
So CRS is not going to report your account held overseas to Thailand ? This is confusing.
- Active income, such as salaries or freelance earnings from a foreign employer or clients, is considered foreign-sourced if the employer or client is located outside Thailand and the income is paid to an overseas account. As long as this income is not brought into Thailand (e.g., transferred to a Thai bank account), it remains exempt from Thai income tax, even if you are a tax resident.
- However, if you are working remotely in Thailand for a Thai employer or client, the income is considered Thai-sourced and is taxable in Thailand, regardless of whether you are a tax resident or where the income is paid.
Click to expand...
So CRS is not going to report your account held overseas to Thailand ? This is confusing.
xhomer2020 said:
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We understand remittance based taxation but we simply don't know how CRS will not report to Thailand
- Active income, such as salaries or freelance earnings from a foreign employer or clients, is considered foreign-sourced if the employer or client is located outside Thailand and the income is paid to an overseas account. As long as this income is not brought into Thailand (e.g., transferred to a Thai bank account), it remains exempt from Thai income tax, even if you are a tax resident.
- However, if you are working remotely in Thailand for a Thai employer or client, the income is considered Thai-sourced and is taxable in Thailand, regardless of whether you are a tax resident or where the income is paid.
Click to expand...
We understand remittance based taxation but we simply don't know how CRS will not report to Thailand
Davis123 said:
We understand remittance based taxation but we simply don't know how CRS will not report to Thailand
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You have to understand CRS:
1) USA dont use CRS use FACTA so no bank account in USA will report to thailand what you have there. So any bank account you have there will not report into CRS.
2) Most people with banks accounts overseas in europe have their bank account with their original home address so they will not report to thailand neither but to their home country.
We understand remittance based taxation but we simply don't know how CRS will not report to Thailand
Click to expand...
You have to understand CRS:
1) USA dont use CRS use FACTA so no bank account in USA will report to thailand what you have there. So any bank account you have there will not report into CRS.
2) Most people with banks accounts overseas in europe have their bank account with their original home address so they will not report to thailand neither but to their home country.
3) even the case you have bank account overseas in CRS country with your thailand residence address i never heard anyone reporting thailand is claiming taxes for their not remitted income. Even the remitted income they dont check you put the right amount , you just put what you want but you dont have to justify the amount and i dont know anyone who has been audited on this and fined or asked for more taxes. If anyone know a single case please send link to it.
I think law is so old that by that time they couldnt imagine internet and online remote work would be possible some day and many people would be working from their room online for remote companies.
I think law is so old that by that time they couldnt imagine internet and online remote work would be possible some day and many people would be working from their room online for remote companies.
xhomer2020 said:
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I don’t know what you’re quoting, but it’s wrong. See the definitions here https://rd.go.th/english/6045.html under 2.1, or here https://taxsummaries.pwc.com/thailand/individual/income-determination which states it more directly. Assessable income such as from an employer or business doesn’t mention where that employer or business is located, nor where the money is received (and PwC makes the latter point explicit). I’m done trying to educate you; the source of active income is yourself, and you can’t be foreign with respect to your location when you earn it. If you perform those services outside of Thailand, the income would be considered foreign source.
You’re trying to apply rules relating to foreign source income to income which is not foreign source. In general, foreign source income is passive income.
- Active income, such as salaries or freelance earnings from a foreign employer or clients, is considered foreign-sourced if the employer or client is located outside Thailand and the income is paid to an overseas account. As long as this income is not brought into Thailand (e.g., transferred to a Thai bank account), it remains exempt from Thai income tax, even if you are a tax resident.
- However, if you are working remotely in Thailand for a Thai employer or client, the income is considered Thai-sourced and is taxable in Thailand, regardless of whether you are a tax resident or where the income is paid.
Click to expand...
I don’t know what you’re quoting, but it’s wrong. See the definitions here https://rd.go.th/english/6045.html under 2.1, or here https://taxsummaries.pwc.com/thailand/individual/income-determination which states it more directly. Assessable income such as from an employer or business doesn’t mention where that employer or business is located, nor where the money is received (and PwC makes the latter point explicit). I’m done trying to educate you; the source of active income is yourself, and you can’t be foreign with respect to your location when you earn it. If you perform those services outside of Thailand, the income would be considered foreign source.
You’re trying to apply rules relating to foreign source income to income which is not foreign source. In general, foreign source income is passive income.
xhomer2020 said:
You have to understand CRS:
1) USA dont use CRS use FACTA so no bank account in USA will report to thailand what you have there. So any bank account you have there will not report into CRS.
2) Most people with banks accounts overseas in europe have their bank account with their original home address so they will not report to thailand neither but to their home country.
Click to expand...
Most expats opened up companies in Dubai or other gulf countries. Got their residencies and lived in Thailand most of the times. Just made a 1 or 2 day back every six months to Dubai or gulf countries to keep visa valid.
You have to understand CRS:
1) USA dont use CRS use FACTA so no bank account in USA will report to thailand what you have there. So any bank account you have there will not report into CRS.
2) Most people with banks accounts overseas in europe have their bank account with their original home address so they will not report to thailand neither but to their home country.
Click to expand...
Most expats opened up companies in Dubai or other gulf countries. Got their residencies and lived in Thailand most of the times. Just made a 1 or 2 day back every six months to Dubai or gulf countries to keep visa valid.
Davis123 said:
So CRS is not going to report your account held overseas to Thailand ? This is confusing.
Click to expand...
Of course it is. The CRS reporting does not make any exceptions for non-remitted or whatever.
So CRS is not going to report your account held overseas to Thailand ? This is confusing.
Click to expand...
Of course it is. The CRS reporting does not make any exceptions for non-remitted or whatever.
xhomer2020 said:
USA dont use CRS use FACTA so no bank account in USA will report to thailand what you have there. So any bank account you have there will not report into CRS.
Click to expand...
Go through the FATCA agreement between Thailand and the US and you will see that they do report.
USA dont use CRS use FACTA so no bank account in USA will report to thailand what you have there. So any bank account you have there will not report into CRS.
Click to expand...
Go through the FATCA agreement between Thailand and the US and you will see that they do report.
A2934 said:
Go through the FATCA agreement between Thailand and the US and you will see that they do report.
Click to expand...
Fatca is actually two way. Most folks often miss this.
Go through the FATCA agreement between Thailand and the US and you will see that they do report.
Click to expand...
Fatca is actually two way. Most folks often miss this.
here say his clients pay 0 taxes in thailand with llc, just pay tax for money remitted to thailand and many places report the say only remitted income. I think you are refering you an interpretation of law that is not applied. Just post a case of a farang having to pay taxes for worldwide active income.
https://www.reddit.com/r/LLcMasterclass/comments/1l5r9a0/can_you_live_in_thailand_and_pay_zero_taxes_with
https://www.reddit.com/r/LLcMasterclass/comments/1l5r9a0/can_you_live_in_thailand_and_pay_zero_taxes_with
xhomer2020 said:
here say his clients pay 0 taxes in thailand with llc, just pay tax for money remitted to thailand and many places report the say only remitted income. I think you are refering you an interpretation of law that is not applied. Just post a case of a farang having to pay taxes for worldwide active income.
https://www.reddit.com/r/LLcMasterclass/comments/1l5r9a0/can_you_live_in_thailand_and_pay_zero_taxes_with
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Well he wants to get more clients signed up with him. But you have to ask Thai tax experts. They are more knowledgeable on this.
here say his clients pay 0 taxes in thailand with llc, just pay tax for money remitted to thailand and many places report the say only remitted income. I think you are refering you an interpretation of law that is not applied. Just post a case of a farang having to pay taxes for worldwide active income.
https://www.reddit.com/r/LLcMasterclass/comments/1l5r9a0/can_you_live_in_thailand_and_pay_zero_taxes_with
Click to expand...
Well he wants to get more clients signed up with him. But you have to ask Thai tax experts. They are more knowledgeable on this.
another thread explaining after talking with tax attorneys... saying the same if you dont have thai bank and dont remit money to thai bank account you dont have to pay taxes. I think is so confusing that nobody know what to do.
https://www.reddit.com/r/digitalnomad/comments/1kn3ikv/update_talked_with_2_thai_tax_attorneys_about_dtv
https://www.reddit.com/r/digitalnomad/comments/1kn3ikv/update_talked_with_2_thai_tax_attorneys_about_dtv
xhomer2020 said:
another thread explaining after talking with tax attorneys... saying the same if you dont have thai bank and dont remit money to thai bank account you dont have to pay taxes. I think is so confusing that nobody know what to do.
https://www.reddit.com/r/digitalnomad/comments/1kn3ikv/update_talked_with_2_thai_tax_attorneys_about_dtv
Click to expand...
So what about the people who don't want to put money in us llc or us banks ? My broker overseas doesn't want any money from USA.
another thread explaining after talking with tax attorneys... saying the same if you dont have thai bank and dont remit money to thai bank account you dont have to pay taxes. I think is so confusing that nobody know what to do.
https://www.reddit.com/r/digitalnomad/comments/1kn3ikv/update_talked_with_2_thai_tax_attorneys_about_dtv
Click to expand...
So what about the people who don't want to put money in us llc or us banks ? My broker overseas doesn't want any money from USA.
whatspat said:
There is no interpretation here, the law is unambiguous and nearly identical in effect to many other countries. What happens in practice due to ignorance, lack of enforcement or other reasons is as you say, but it’s not correct legally.
TRD isn’t preventing people from getting bank accounts, that’s mostly down to the banks lack of interest, incompetence, or concern about the new AML regulations which expose them to liability and penalties. Saying “no” is the easy option for them.
TID is a different matter; the system is old fashioned and designed with an assumption that taxpayers would be working for a local entity (same assumption underpins labor law regarding work permits). In the past, wanting to claim back tax withheld from bank account interest payments was sufficient to obtain a TID, not sure if it’s still the case.
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whatspat said:
The law states that all tax residents (visa type has no bearing on this factual matter) are obliged to obtain one and file an annual return; this doesn’t mean the bureaucracy makes it easy to comply.
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this is wrong! The law does not state that.
Only if income over 65k.
But quoting laws are pretty much moot and instill a wrong sense of confidence as can be observed daily and im sure you well know that, the landscape changes monthly.
There is no interpretation here, the law is unambiguous and nearly identical in effect to many other countries. What happens in practice due to ignorance, lack of enforcement or other reasons is as you say, but it’s not correct legally.
TRD isn’t preventing people from getting bank accounts, that’s mostly down to the banks lack of interest, incompetence, or concern about the new AML regulations which expose them to liability and penalties. Saying “no” is the easy option for them.
TID is a different matter; the system is old fashioned and designed with an assumption that taxpayers would be working for a local entity (same assumption underpins labor law regarding work permits). In the past, wanting to claim back tax withheld from bank account interest payments was sufficient to obtain a TID, not sure if it’s still the case.
Click to expand...
whatspat said:
The law states that all tax residents (visa type has no bearing on this factual matter) are obliged to obtain one and file an annual return; this doesn’t mean the bureaucracy makes it easy to comply.
Click to expand...
this is wrong! The law does not state that.
Only if income over 65k.
But quoting laws are pretty much moot and instill a wrong sense of confidence as can be observed daily and im sure you well know that, the landscape changes monthly.
The truth is most digital nomads in Thailand only pay tax on money they bring into the country. So far, there are no known cases of anyone being taxed on income kept overseas. Are they?
If Thailand ever starts taxing foreign income that is not remitted, many people will just leave. It would feel unfair, especially with the high tax rates and few benefits.
Things might change in the future, but for now, the system works on a remittance basis in practice.
If Thailand ever starts taxing foreign income that is not remitted, many people will just leave. It would feel unfair, especially with the high tax rates and few benefits.
Things might change in the future, but for now, the system works on a remittance basis in practice.
shimo said:
The truth is most digital nomads in Thailand only pay tax on money they bring into the country. So far, there are no known cases of anyone being taxed on income kept overseas. Are they?
If Thailand ever starts taxing foreign income that is not remitted, many people will just leave. It would feel unfair, especially with the high tax rates and few benefits.
Things might change in the future, but for now, the system works on a remittance basis in practice.
Click to expand...
agree with this, if this change and they enforce taxing overseas active income not remitted to thailand most digital nomads and farangs with high income in thailand will leave to another territorial country where they are not taxed. There is no point to stay in thailand and pay such a high PIT taxes similar to europe.
The truth is most digital nomads in Thailand only pay tax on money they bring into the country. So far, there are no known cases of anyone being taxed on income kept overseas. Are they?
If Thailand ever starts taxing foreign income that is not remitted, many people will just leave. It would feel unfair, especially with the high tax rates and few benefits.
Things might change in the future, but for now, the system works on a remittance basis in practice.
Click to expand...
agree with this, if this change and they enforce taxing overseas active income not remitted to thailand most digital nomads and farangs with high income in thailand will leave to another territorial country where they are not taxed. There is no point to stay in thailand and pay such a high PIT taxes similar to europe.
shimo said:
The truth is most digital nomads in Thailand only pay tax on money they bring into the country.
Click to expand...
The truth is most of residents, and specifically foreigners, do not pay tax in Thailand because there is no tax enforcement.
The only ones who consistently pay tax are those who earn enough local income from Thai company to have tax withheld from their salary or dividend.
The truth is most digital nomads in Thailand only pay tax on money they bring into the country.
Click to expand...
The truth is most of residents, and specifically foreigners, do not pay tax in Thailand because there is no tax enforcement.
The only ones who consistently pay tax are those who earn enough local income from Thai company to have tax withheld from their salary or dividend.
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