Tax residency in Thailand and taxing overseas income

[hhinner]

Also nothing that I've seen about how to get a TIN, which seems to be key to everything.[/i]

The tax office is in Soi 88 opposite Nanys. From what I've read on the Thai tax website you just need your passport (but TIT so who knows).

Anyway as a probably non-tax payer I won't be bothering with one until I've seen what the guinea pigs have found out after filing a tax return. Stuff the May deadline.

Yes. Passport is all they wanted from me. Not interested in anything else.

[Dannie Boy]

I've said from the start that I don't really see why Immigration need to be involved with the tax issue. However, you are probably right, TIT, expect the unexpected.

You’re probably right but until someone tests the water we won’t know for sure!!


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[buksida]

Immigration will be the only way they can enforce compliance from foreign tax residents if they decide to go down this rabbit hole. Letting the lemmings guinea pigs go first is a good approach though!

[Big Boy]

I've just come across the LTR Visa tax exemptions. Does this not make a total farce of taxing us poor people?

Thailand Tax Exemption:

In 2022, Thailand launched the Long-Term Resident (LTR) Visa to attract qualified expatriates, investors, and retirees, offering them a long-term residency option. This initiative was introduced by the Thai government, led by the Ministry of Interior, in collaboration with the Ministry of Tourism and Sports and the Ministry of Public Health. This article explores the different categories of the LTR Visa, their respective requirements, and the beneficial tax exemptions.

Benefits of the LTR Visa

Wealthy Citizens and Wealthy PensionersVisa:

​

A 10-year visa.

No 90-day immigration checks.

Fast Track at all international airports.

Tax exemption on income from abroad (only for LTR Wealthy Citizens and LTR Wealthy Pensioners).

https://www.thailand-tax.com/thailand-ltr-visa

[PET]

First interesting thing will be someone who gets their visa extension and whether Immigration request anything to do with tax status?

I renewed my 12 month visa extension on 9th Jan and there was no problem and nothing mentioned about my tax status.

As a matter of interest I was told by a friend who actually asked if they wanted anything on his tax and was politely advised to take all tax matters up with the tax department.

[Dannie Boy]

That’ll put a few minds at rest


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[thecolonel]

Copy of a section from the article in today's Asean now.....

Patcha explained that not all expats are required to file Thai tax returns. Exemptions apply to those in Thailand for less than 180 days in 2024, individuals who haven’t transferred money from abroad, those who only moved income earned before December 31, 2023, and holders of the 10-year Long Term Residence (LTR) Visa. For others, the advice is clear: obtain a tax identification number and file a return by March 2025

I was particularly interested in

those who only moved income earned before December 31, 2023

If that's correct I hadn't appreciated that before

https://thethaiger.com/news/national/th ... eas-income

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[Dannie Boy]

So in effect it’s confirming that the new rules apply from the start of the 2024 Tax Year (1/1/24-31/12/24) - anything before is outside the scope.


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[Big Boy]

But how do you prove it?

[Edit] My situation is I have savings + since 2012 I have had pensions i.e. all of my income since 2012 has been taxed in the UK.

Last year I spent well over my pension earnings (wife needed an expensive operation), so the balance came from savings. However, how do I prove they were savings, and not another source of income?

[thecolonel]

But how do you prove it?

[Edit] My situation is I have savings + since 2012 I have had pensions i.e. all of my income since 2012 has been taxed in the UK.

Last year I spent well over my pension earnings (wife needed an expensive operation), so the balance came from savings. However, how do I prove they were savings, and not another source of income?

Good question

For my part I'm relying on the fact that I haven't worked since 2013 so how could I possibly have earned money since 1/1/2024?

I can show them my UK tax returns

Plus I dont have a work permit

I'm guessing one might have to sign a declaration to that effect(earned prior to 31 December 2023).

But all of the above is subject to them coming to knock on my door, other than that I'm doing nothing, certainly not seeking a TIN

Finally, is this news to anyone? When I say this I mean that funds transferred from income earned before 31/12/23 are exempt. Because it certainly wasnt to me! I was told (and read several times ) that it was all income brought in since 1 Jan 2024 regardless of when it was earned

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[Dannie Boy]

Surely they will ask to see your bank records for transfers in during 2024 - anything before is not considered?


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[thecolonel]

DB - I agree that's what they will start with, but that doesn't address the issue of when the funds(since 2024) were 'earned'

That's what is at debate here. Proving the funds were earned prior to 31 Dec 23

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[Hahuahin]

I've just come across the LTR Visa tax exemptions. Does this not make a total farce of taxing us poor people?

Thailand Tax Exemption:

In 2022, Thailand launched the Long-Term Resident (LTR) Visa to attract qualified expatriates, investors, and retirees, offering them a long-term residency option. This initiative was introduced by the Thai government, led by the Ministry of Interior, in collaboration with the Ministry of Tourism and Sports and the Ministry of Public Health. This article explores the different categories of the LTR Visa, their respective requirements, and the beneficial tax exemptions.

Benefits of the LTR Visa

Wealthy Citizens and Wealthy PensionersVisa:

​

A 10-year visa.

No 90-day immigration checks.

Fast Track at all international airports.

Tax exemption on income from abroad (only for LTR Wealthy Citizens and LTR Wealthy Pensioners).

https://www.thailand-tax.com/thailand-ltr-visa

It does and in my opinion, it is a shame for the authorities to maintain discriminatory treatment in a country that screams "stop corruption and inequality" every other day, and it is probably not without reason Credit Suisses named Thailand as the world's most unequal country in the world in the Swiss banking giant's 2018 survey.
hahuahin

[404cameljockey]

There aren't many countries which don't try to attract wealthy immigrants. And we're discussing this even before we know how or if the tax laws will actually affect expats on lower income.

[Big Boy]

The flaw in that argument is they did not get wealthy by spending their money. So if they are excluded from tax, what is the benefit?