Thai government to tax all income from abroad for tax residents starting 2024

[harrybarracuda]

It's the Enquirer so read as you will.

Thailand’s revenue departments has released new guidelines which will see all income from abroad taxed as personal income tax regardless of whether it was earned income or savings.

A senior official at the Ministry of Finance confirmed a document released by the revenue department over the weekend was accurate.

According to the document, “…those that have earnings from occupation or business abroad or wealth that is located abroad…and has brought these assets into Thailand…must factor this into their personal income tax for the year.”

The program will begin January 1, 2024 and apply only to tax residents in Thailand meaning tourists and short term workers will be exempt. Also exempt will be those who have been taxed in a foreign country that has a standing Double Tax Agreement with Thailand.

(For list of countries with Double Tax Agreement please click here)

It is unclear at this point how this will apply to foreigners living in Thailand on a retirement visa.

This is a developing story and will be subject to update.

Thai government to tax all income from abroad for tax residents starting 2024 - Thai Enquirer Main News

[harrybarracuda]

I love this: "To lower income equality"....

Between all you poor fuckers and foreigners, not us.

Govt to tighten tax rules on overseas income to aid economy

[harrybarracuda]

I won't quote for obvious reasons, but the link is worth a read for those interested.

Bangkok Post - Law to tax income from overseas in the works

[Stumpy]

Well first thing that comes to mind for US folk, have your SS deposited to your US bank acct and transfer as needed.

And while many whinge about the marriage visa process, it might be a way to avoid being sorted in a spreadsheet for the retirement Visa.

[Mendip]

^ I gave up on the marriage visa as the immigration office were completely inflexible about early renewals, and along with the 30 day 'under consideration' period, I was missing too much work. At least the retirement visa can be turned around in a couple of days.

As for tax... I'll be buggered if I'll pay one satang to a country I'm not allowed to live in without jumping through immigration hoops once a year and I'm not allowed to work in. Also a country where I pay for all medical care and education.

[taxexile]

if foreigners are to be taxed by the the thai government, then foreigners should be entitled to the same benefits in law as thai citizens.

property ownership, right to work, health, education for children, equal pricing, and none of this revoking of visas for minor offences at the whim of some vindictive cop.

[Stumpy]

I gave up on the marriage visa as the immigration office were completely inflexible

Understand Mendy. My wife handles all my immigration stuff so I only have to be present for the the document submission and 20 page or so sign off which is a cake walk and takes about 45 minutes. I will say as I am winding down my career my travel is minimal now. My wife checks me in online currently so I really am not involved in any of it.

if foreigners are to be taxed by the the thai government, then foreigners should be entitled to the same benefits in law as thai citizens.

Nice belief Tax...but we both know that is never ever going to happen in our life times. So you adapt to the every changing "pie in the sky" thoughts they come up with. 99% of all this is simply noise. we carry on like we always do. I have been here since 2005 and very little has really changed immigration wise except you can't use the affidavit about your income verification and they added online registration.

[taxexile]

^

indeed, there are ways round every obstacle they put in our way.

[Stumpy]

^

indeed, there are ways round every obstacle they put in our way.

Yep. Why I never sweat any of this news. Of course, if they pull the plug and make it a total pain in the ass to live here, my wife and I will sell up and leave. But quite honestly I fully expect to be boxed and burned at the local temple someday.