Are Thai Tax Authorities Trying to "Kill the Golden Goose"?

#ThailandTax #Taxes #Thailand
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[@jannielsen1428]

Imagine people staying less than 180 days in Thailand to not be tax reliable. That means that Thailand are not benefiting from the money spend from foreigners in the other 180 days. So Thai tax authorities get no tax and Thailand will loose loads of money going into the society.

[@lusty444]

I agree but the laws of common logic don’t seem to apply here!

[@genestone4951]

This would be my strategy...which also means no reason to buy a condo here or invest. Easy enough to hop over to Bali, or Saigon, or Cebu.

[@xarniia6937]

​@@genestone4951Same with us.

[@jannielsen1428]

@@genestone4951 Problem is that many Asian countries only have max 30 days stay. Surely some can be extended, but can’t void border runs for the longer term

[@somepolishguy5977]

Jep. Thats new rule now. 179 days and then travelling around Asia for me. :):)

[@paulf897]

Other countries that tax people on worldwide income would offer the individual residency, citizenship, the right to buy property etc If they tax worldwide income and still restrict foreigners to rent and report to immigration every three months, they will make the country unappealing to a lot of people.

[@saveriocannata3447]

@@paulf897 correct. If pay tax should be also free Healt care, no doblle price to enter in some venues, to have permanent recidency without to make the yaerly visa. To have morgage from banks and so on.

[@genestone4951]

@paulf897 OK good point . I'd be HAPPY to pay taxes in Thailand if citizenship or perm residency.

[@somepolishguy5977]

@@genestone4951 exactly my friend - no taxation without representation - 170 days in thailand, 90 days Vietnam, 90 days traveling around Asia - at least they kicked my ass to start checking around instead of being lazy and stay in one place. :)

[@vladradek]

@@somepolishguy5977 Except some of us are too old for all that shit 🙂

[@vladradek]

Maybe not too old. Just too tired of the treadmill

[@tyvid]

The incoming remittance tax being enforced will cause an outflow of expats, as there are multiple incidents of what I argue are unfair such as taxes on private pensions that are tax-exempt in their country but will therefore be taxable in Thailand. However, other pensions, purely because of their pre-tax structure, because of being linked to government employee or military pensions, or because of stronger DTAs against Thailand - are untaxed. Other instances as well will cause a huge deterrence to remit and spend money in Thailand. And Thailand more inclined to just be a place for tourism rather than retirement. Add the global income tax proposal and that is the absolute end of expat living in Thailand for the majority of people seeking retirement and even those working still. Only those with bulletproof tax protection setups will stay. I will not allow Thailand to tax income and capital gains on my Australian investments, because I will choose to not be in Thailand and not be a tax resident, if that is the case.

[@user-ql9vu3zg3n]

Public Servants negotiated the DTA’s so should come as no surprise that their pensions are tax exempt and the pensions of the rest of us aren’t.

[@matthewjohnson2702]

You can’t write of capital losses also, so you get strait fucked by stocks unless you bat 100%

[@MrLinggah]

Aussie here too. I will only stay 179 days maximum. I can't believe these turkeys want to tax my super which is totally tax free in Australia. If I am not taxed in Australia then sure as hell I will not let Thailand steal my money, it isn't right.

[@awolgeordie9926]

I lived in Thailand 2009-2019. Visa BS, Tax BS, TM30 BS, 90 day reporting BS, immigration BS, rule change BS, constant uncertainty BS. Too much stress. Yeah, nah.

[@tradeyourselftowealth7149]

Where did you move on to? Back to your home country? Are you a retiree and were you on a Non-O visa?

[@rainmon]

Now an additional form to prove that you still have $800,000 baht 3 months after you complete your visa. Another trip to immigration and more paperwork when will it end? At least I finally figured out how to do my 90-day reporting online a couple of years ago. The paperwork load is out of control and agents are everywhere I was hit on at my bank by three different visa agents, now they have agents to help foreigners get bank accounts unbelievable

[@scottfree993]

@@awolgeordie9926 sounds like a massive BS call on Thailand

[@Dave_Tae]

If this happens Thailand will be off my long planned retirement destination, I will look at the Philippines and Vietnam instead.

[@tradeyourselftowealth7149]

AFAIK, there is no retirement visa in Vietnam. I would like to be wrong about this.

[@richardbrown9344]

The philippines will bring in the same.

[@susanzimmerli5178]

Vietnam Visa system is even more complicated and costs more, perhaps you should inform better

[@VibrantLivingLists]

@@richardbrown9344 then you bounce between thai phil and nam so not to spend 6 months in a year at any of them

[@genestone4951]

@Dave_Tae Philippines is a NO now imo, as the US plans for it to become another war zone like they did to Ukraine. Vietnam is great though. Much of the reason it's great is that the US got their ass kicked there, so reduced western influence.

[@desertsky4899]

I am on my 4th Non O extension.(Retirement). I will continue to stay in Thailand for 178 days or less/year. My girlfriend and I have visited Vietnam for 3 months Malaysia ,Cambodia , and soon Laos .Always have a plan B! If Immigration ever requires a tax return for a visa extension, that will be the day I pack my bags and leave for good.Mai pen rai

[@crazyg74]

have you bothered to calculate what the tax implication might be? I did some quick calculations and as an Aussie, if income is over ~$27,000, you won't pay any additional tax in Thailand, since the Australian tax already paid is more. That covers pretty much everyone. Obviously different countries have different tax rates and thresholds, but nobody is doing the math...

[@PatrickKelly-b8o]

For 16 yrs living in Thailand I saw ..and felt the on-going "killing of the golden goose" in other words ..squeezing every dine and freedom out of foreigners. I love Thai culture, people & triditions except this mindset of eating away at private money matters, travel and living matters. Geeze even to the point of wanting to know who we associate with. Seems like it's all about "control" ....why the paranoidia? Like living in a glass house. I left 4 years ago for much greener pastures. Sad ..Thailand was wonderful and retirees dropped a LOT of money but it's never enought! Thailand IS KILLING THE GOLDEN GOOSE !

[@djj666]

WOW, totally shocking! As someone who was seriously considering retiring in Thailand (after many visits) at some point really reconsidering with these issues being contemplated. The fact that there is also no stability (everything is always changing) it would be a constant worry.

[@Gizziiusa]

That was my conclusion way back in 2010. I go there for extended visit on vacation, and as a hub for mainland SEA, but thats it. i'd never seriously consider long term retirement there.

[@JoeyJoy]

You should not have Thailand as an option

[@gaetanomontante5161]

I have been in Thailand for 8 years now, and at 76 it would be very unlikely for me to even think of trying to reach my end of life elsewhere. Besides, this does not count the fact that I love the Thai people and it would be gargantuan task to convince my Thai wife to emigrate elsewhere. Besides, the "Where to go" is another question that is very difficult to answer given the disastrous political/economic/and law-fare bureaucracies that control life in most parts of the world. But as YOU correctly point out, it is a very bad idea that I should be taxed for 1: bringing to Thailand any amount of INERT capital, and 2:tax my profits from foreign operations anywhere in the world but which profits were kept in the country where that amounted to an income. Under very different personal conditions, I too would never accept these impositions and asininities. I am aware that many of these proposals originated with the doings of the giant moron who was an ex high level manager of Procter and Gamble, and who having achieved somehow the seat of power in the Government of Thailand, decided to go personally to Davos to receive his working orders directly from the mouths of the hyenas. I hope that the new Prime Minister (and her father) will not be given enough free reins to damage further the Nation of Thailand.

[@therapeuticenergyhealing]

Love the new long form format. Great job, and thanks for your informative posts.

[@barryatkinson9018]

If this does become law, those who decide to live in Thailand will want to know the benefits they will receive from paying Thai Tax. If there are none they are likely to move to another country.

[@neilbroadbent4783]

The problem being is that eventually ALL countries will do the same and there will be no place to hide!

[@anthony9971]

Let me explain: there are none.

[@PaulBengtsson]

@@neilbroadbent4783 But most countries giv you rigts as a tax residence.

[@kurtprestegard6756]

Very, Very GOOD. ease keep doing this. As a recent immigrant to Thailand, and love living here, your question about " Killing the Golden Goose" definitely applies and please keep exposing this situation. Kurt Prestegard

[@VictorHenderson]

As many have opined, my Thai retirement plans have shifted measurably (5-10 years out). Looks like pretty much only 6 months in Thailand and then 6 months elsewhere in SE Asia. Time to get serious in researching other countries in the area.

[@brianstreet7377]

Tax tax and more taxes good luck Thailand 🇹🇭 😢

[@anthony9971]

I’ve spent so much time trying to figure out the tax rules I’ve read multiple articles I watched this video dozens like it and the only conclusion I came to is that its not worrh fetting caught in the tax trap and that I shouldn’t stay in Thailand more than six months a year

[@melissaakey4631]

Same for me in 2024

[@jw841]

Also don't make the mistake of owning anything in Thailand.

[@vitali2127]

If they tax pension that would be insane because pension is already comes from the tax you paid while you work. Amazing how this WEF stooge comes back to Thailand and all these ideas start popping up. Some of these people proposing these laws are delusional that Thailand is the best place on earth and everyone wants to come here. That’s far from the truth

[@brucekellam5203]

Great video, Benjamin! Gotta rank as one of your best! Thanks for doing what you do.

[@JohnDoe-uk2iu]

Its the CRS (Common Reporting Standard) taking effect. I'm pretty sure they are in touch with the neighbors and its bigger than Thailand. I'd bet it will go through. Its going to be Latin America for me.

[@larryross2458]

Panama or Costa Rica

[@JohnDoe-uk2iu]

@@larryross2458 Panama, moving in December :)

[@lbartel9666]

Well this SURE KILLED my move to Thailand this coming Dec... I sure not spending a 1-2 million for a home in Phuket and then have to pay taxes on my overseas income outside of Thailand. Plus this mean I will not able to sell my home in the future unless i take a huge loss once my fellow expats flee the country ... looks like i am going to living in Panama

[@PaulRLight]

A home on Phuket for 1-2 million baht? A garden shed somewhere?

[@lbartel9666]

where did i state baht I ONLY DEAL IN REAL CURRENCY

[@LB-bf1gg]

BTC 🙏

[@genestone4951]

You shouldn't buy right when you're moving here anyway. Stay AT LEAST two years first, and probably longer. There's zero reason to rush into buying. And Panama is a ridiculous second option. Are you even serious?

[@somepolishguy5977]

@@genestone4951 why ridiculus - I know few people that are living in Panama and love it. :)

[@stevekalasin7021]

Cambodia is looking better everyday. Better food . People are friendlier. And a bit cheaper

[@saveriocannata3447]

Cambodia cheeper? Only cicatettes and alchool are cheeper, but other groceries are much higher than Thailand. Vietnam, Philipine are really cheeper.

[@60435]

compared to the bar-community where you reside maybe.

[@tonywright8614]

And the health system is very poor by comparison to its neighbours

[@petersellers-dy9mm]

The only place is the reluctantly the Philippines

[@stevekalasin7021]

@@60435 i only go to bars one night a month. I just came back from Cambodia and I found the food was much the same price as here. Accommodation was cheaper

[@robertharris6067]

Thailand has more of a problem with government spending than it does with tax collection. Historically Thailand has a reputation for corruption and poor decisions involving government expenditure, wasting money on stupid purchases or criminal theft is well documented.However government spending on welfare is minimal.eg elderly people get 600 baht per month to live on,clearly this is disgracefull .

[@somepolishguy5977]

Well. Thailand has also long history of military coups - so - just saying - I feel like rich people here have connections to military :):):) fingers crossed we will have again 10+ years of military dictatorship and will be ok.

[@dazx6073]

Thailand was my destination for living at the end of the year. No longer, go where you're treated best is wise advise. Thailand wants tax without representation. Sorry Thai people, I'll take my substantial funds and income elsewhere

[@crazyg74]

have you bothered to calculate what the tax implication might be? I did some quick calculations and as an Aussie, if income is over ~$27,000, you won't pay any additional tax in Thailand, since the Australian tax already paid is more. That covers pretty much everyone. For those unfortunate enough to rely on a pension, the pension in untouchable by the Thai tax department. For those with a private pension that pays out (superannuation/annuity - basically everyone in Australia), that is also untouchable by Thailand. Obviously different countries have different tax rates, thresholds and tax treaties, but nobody seems to be reading the facts and/or doing the math! Many prefer to whinge and threaten to go elsewhere, based on unsubstantiated fearmongering. It's hilarious!

[@dazx6073]

@@crazyg74 Not the point. Taxation without representation, limited opportunity for residency, next to no chance of gaining citizenship, no rights to land ownership and can be deported at any official's whim. I'm not a pensioner and have a 6 figure passive income. Did you notice you're in the minority of comments here ?

[@stephencryptonite5342]

Thanks for your continued passionate reporting on these subjects. The traditional mainstream media has conveniently forgotten to do their job, which is to hold those in power to task

[@TonyHatzi-dk4jz]

Thank you for explaining it and batting for us expats and so on

[@Jeff-sm8of]

It's a no brainer. All s e Asia countries only want short stay high spending tourists.

[@rlmackinnon]

Taxed like a Thai but treated like a foreigner (90 day reporting, annual visa renewals, tm30 surveillance- policies that sound a lot like parole elsewhere), what’s not to like? Expats already here will try to sell their condos and cars and leave. Those thinking about retiring here will cross LOS off their list. There’s the math.

[@cb2022]

Yeah getting me looking at other countries now. If they do this I'm out for sure. Goose be gone!!

[@tmb3131]

As a former scout for mfg projects in SE Asia, the Thai system has become unnecessarily hostile to foreign investment. While the infrastructure is among the best in SE Asia, the ever changing rules for import/export, licensing/work permits (FBL,BOI, etc) and taxation is getting ridiculous. The potential liabilities (if this amendment is attached) far outweigh the advantage of just looking elsewhere. Malaysia, Vietnam and Indonesia are right around the corner and are bending over backwards to facilitate foreign investment.

[@marcophuket2182]

Ben , they already signed the CRS - AEOI with about 130 countries and started to exchange with some already from September 2023 . Its trou . I was surprised !

[@marcophuket2182]

The OECD agreement is in study but the CRS - AEOI is signed and working .

[@jimfberry]

Been here for 21 years. If this happens, I will be out of here!

[@IanKorman]

See my other post. The Thai government plans to fast-track OECD membership over the next 5 years. All details are on the MoFA website or in other news stories.

[@genestone4951]

Thank you for these updates Ben.

[@IsaanFarmer-f1f]

I have lived here for over 15 years and never considered living anywhere else. Have had a business with 12 employees, have brought in lots of funds to build up a business only to see it all go down the tubes during the pandemic, have put up with all the bureaucracy of running a business, taxes, visas, etc. Have now retired only to see this personal tax crap? This is the first time I am seriously starting to look for greener pastures. I don't want to leave, but neither am I going to put up with that crap. They better not go down this road. Looks like 180 days will be the most I'll be able to spend here in the future if this gets enacted.

[@brad180564]

Ref: The WEF it now meets in China during the summer. This year was Dalin. Published on coinbureau yesterday, you tube channel.

[@GazGuitarz]

CCP China have been hosting the WEF summer meetings since 2007

[@sid35gb]

If you’re bringing money into Thailand it would be sensible to assume that it will be spent in the Thai economy. The government would probably get all its taxes back from foreigners and benefit Thai businesses I don’t really understand why they have a problem with that.

[@knowbs2122]

I have visited Thailand for over 23 yrs ,every years for multiple months at a time ,never earned or took a penny from the country, only ever payed for flights hotels and lots of other activities which amount to in access of £180,000 . There are many other places in the world that would love to have my hard earned money

[@theamazingjustin]

The idea of a "tax resident" is ridiculous. The only country that should have the right to tax you globally is the country in which you have citizenship. That country is responsible for your extraction in cases of emergency. As a tax resident that pays global tax, will Thailand rescue me from China if I was to be wrongly imprisoned? Thailand would be better served by uniformly increasing flat visa fees for non citizens. They should make a distinction between taxing global income for citizens and non citizens. It would be better received by expats, even if it means paying triple fees. I can plan better and not have to hire a Thai tax accountant for US$1000 every year to sort out my stock capital gains. By the way, you need a new mic. It's popping.

[@Soravia]

Smartest move will be to get rid of the income tax, and use VAT. The more people have money, the more they spend. No one is swimming in coins like Scrooge McDuck.

[@KingNeptune185]

179 days it the best plan for now!…luckily the money I save living half a year in Thailand will help pay to live somewhere else 😂….

[@MAVERICK-ti1hm]

I was going to retire to Thailand but until things settle down Thailand will only get 179 days of my spending money ! Unfortunately, this will affect small Thai businesses more than politicians in the short term … hopefully not long term 😢

[@gordon.Jacko1055]

My feeling is why worry about it until it happens and then make a decision 🤔

[@Alexweb-s5t]

Are u a sitting duck

[@aeroAdvocate]

Exactly. At least as a foreigner without ties who can pack up and leave anytime. If a few years down the road I get my first letter or question, that’ll be the day to move on.

[@johng5950]

@gordo.Jacko1055 You are 100% right, but if a bunch of foreigners want to complain and say they ain't coming due to speculation and talk that hasn't been made official, I couldn't care less. Stay home. This channel has mentioned multiple controversial topics that never actually happened. This is Thailand.

[@conradstone6719]

What you say 100 percent!

[@oldsoulfull]

If this were to pass never in a million years would I even consider being a resident in Thailand.

[@davidhanak2767]

Maybe have to wait and see worry about it then

[@charlesgustavino7085]

Definitely…Thailand has a lot of laws, how many are really enforced?

[@theamazingjustin]

Mentality of the poor and unprepared

[@charlesgustavino7085]

It would be good if you got something for that tax, like hospital access…

[@terencegraham8414]

Of course, Thailand changes shit every 5 minutes.

[@b4bmm]

I found a house I like in Phuket, was close to signing on the dotted line but sense came to the fore and decided against it. It was a great deal otherwise I wouldn't have even considered it given the current headlines of tax/visas. Too much economic uncertainty to invest here, I'll stay renting my cheap condo and spend half the year somewhere else if this tax thing gains traction. I specifically moved to Thailand because it is the best developed country in Asia with good people and a close second was its tax benefits based on my income. I still have my doubts they will be silly enough to implement these changes but it seems they are doing it to bow down to their WEF overlords

[@stevenworld3364]

Yes, they should simplify this tax thing by assessing retirees with a tax fee upon yearly visa renewal. This beautiful country has enough problems of their own to handle , then messing around with retirees.

[@Hydrosurfer68]

Easy solution for those of us who love and enjoy Thailand by bringing hard earned money, savings, and investments there... Arrive in November to enjoy the good weather for about 120 days and then leave in late February for the US or Mexico. It's only going to get worse for those expats trying to spend their money in peace in Thailand. There are also many other good spots not far away where the governments and people value the tourist currency and know how to protect assets.

[@AmazingPhilippines1]

Politicians generally live in their own "bubble" of information and "killing the golden goose" is something they are very good at. New form of colonization for these unelected organization to be dictating laws and taxes. Well stated Benjamin.

[@marcusturner9397]

bro is speaking straight facts and it got real as f at around 4:00 and after harder at 5:00

[@alanwood8636]

Your tax Will be subject to interpretation. This procedure is certainly a worry. My interpretation is to chuck it in the rubbish bin.

[@boycott1473]

Brilliant analysis! Thank you!

[@JoeyJoy]

They say that the difference between a smart person and a wise person, is that a smart person know how to avoid a problem that a wise man can get out of.. Be smart, avoid problems, DO NOT retire in Thailand.

[@MandoAndMe]

How will this realistically effect American citizens being that America and Thailand have a tax treaty?

[@noklekpui]

Apartment rental prices will plummet with the exodus of foreigners leaving Thailand due to the new proposed tax laws

[@susanzimmerli5178]

Oh good for those who stay yeah 👍 why should I leave Thailand where I pay less tax as retiree than in my home country + the living cost are 4x higher than in TH?

[@Joseph-wu6kd]

35% on every dollar is less? You must be a pauper.

[@susanzimmerli5178]

@@Joseph-wu6kd you don‘t seem to know how the tax rates in Thailand count. Its called progressiv tax rate. So I would have to pay about 10% on my pension, as in my home country at least 20%,

[@krutt24]

Been paying tax on my disable Pension for 8 years in Thailand. Norway have a tax Agreement,so I do not pay tax to Norway, Only to Thailand. My yearly tax payment to Thailand, is around 16 000 Bath a year on my pension. I think that's a good deal. 😊

[@robinlowerson565]

Thailand is indeed unique.

[@Watching-and-Learning]

You'll own nothing and be happy Cheers, Klaus

[@christophmosimann9244]

For me, the sound is only on my right speaker

[@SayNoToWW3]

Ditto Also a lot of distortion when making loud pronunciations (P-POP_

[@VictorHenderson]

same

[@AndrewThompson-x1o]

we have had beer together :). that was a long rant. simplest answer is that competition works. those impacted in a significant way will shift their spending to vietnam, phillipines, cambodia, etc. its a strange move as thailand has the no tax visa for truly wealthy individuals. so this change only impacts those with income above the stereotypical poverty retiree but those not willing to buy a condo.

[@peterryan5606]

This would mean you pay tax in the other country and pay tax when you bring it into Thailand a double tax why go to Thailand makes no sense.

[@flynn9727]

The audio sounds way better already!

[@Arcticnick]

100%

[@intellectualgladiata]

People simply will not spend the 180 days here, Thailand will get none of the revenue and the Thai economy will not get the economic activity of having people here for the other 6 months of the year. The authorities must not be able see the obvious that Thailand is a desirable destination because it is a territorial tax system.

[@timpon2233]

Tell you what Ben. All foreign nationals taxed in this illegitimate method get together and you represent us in a CLASS ACTION suit. You’ll be the best-known Thai lawyer with endless business from that point forward

[@aeroAdvocate]

Dude, stop drinking during the day! 😂

[@timpon2233]

@@aeroAdvocateyou got a better idea?

[@terencegraham8414]

You're on the weed eh.

[@CryptoSteve007]

@timpon2233: Mate, you don't live here, do you? There are only 2 rules in Thailand. 1) The Farang is always wrong and 2) The Farang will always pay.

[@timpon2233]

@@CryptoSteve007I knew hss it is. Been here 26+ years. A class has some defense. Individuals don’t

[@davek1943]

thai government has repeatedly demonstrated it's ultra short term and narrowly focused policy - to benefit "special interests". visa policy changing every month is a great example of this. proposed tax policy is a grab of money in the short term. what can we take today? they dont care if some farang lose money or what happens later. gov officials get a cut of what they collect all the way up to the top so policies reflect their interests not neccesarily thailand's.

[@BrianPolito]

Talking about the WEF, WHO, EU, UN... dabbling in conspiracy theories my friend! You're not supposed to notice what's on their websites and believe it's true.

[@TheRealFamespear]

All of this occurred with the return of The Mac. 😞

[@RichardDanaher-p5y]

I think it is a bit ridiculous that if I’m a tax resident for 2024 in Thailand and I still don’t know what the tax rules might be is absurd. Already spent over 3 months out of Thailand but next trip not scheduled till next year. Would have/will spent six months and a day outside Thailand if they think they can tax all income which is different than originally stated as monies brought into the country.

[@sinabrigo]

Audio for me not ok, could be much better! And some kind of aircon running in the background? Good video by the way 👍

[@jcmolette1613]

Same here, audio only in the right ear - quality is not good - some clicking and popping occassionally also...

[@PDSverre]

It will never happen 😍

[@raymondblood6322]

you couldnt make it up hahaha siams a crazy place but i strill love it long may it never change

[@johnbrown5559]

It's an insane idea.

[@CheSmith74]

I have been planning on moving to Thailand in the next few years, basically retired and using an LTR. I would still have income from outside of Thailand but if it's going to be taxed regardless being brought into the county or not... I will not be moving to Thailand. Happy to pay taxes on $ earned & brought into the county in the same year but not on all my world wide income. I can stay in the West for that thanks. There are plenty of other countries that offer great tax incentives and have a warm climates. They are not thinking logically on this topic. People don't have to move to Thailand.

[@ThinkingAddiction]

I have seen several videos mentioning that those with a LTR visa are exempt from the tax on money brought into Thailand.

[@mr.bullion6786]

Let's move to the Philippines and Vietnam for a while. We can still visit Thailand for 179 days a year if we want to or maybe we don't even bother to come back.

[@Dutchy695]

Tax only applies to companies and corporations. No consent no contract as an living breathing man means no tax to pay. Don't identify as the incorporated birth certificate name in capital letters.

[@kmichael1850]

They can talk all they want but there are many ways around this and the Thai government are way too incompetent to enforce this.

[@AnuraUkulele]

I hope - and suspect - you are correct.

[@kwhatten]

True until they figure it out.

[@CIOXYZ-c6i]

Bye, bye Thailand. Many other better countries will welcome me and take my money.

[@keithprinn720]

certainly seems like so many decisions turning off potential tourists and residents, see that there can be a place for taxing them but if already taxed elsewhere?

[@graemethorne4540]

Are they after the Thai people who have business etc overseas who don't pay taxes.😊

[@alanwood8636]

Under OECD thai tax department has a right to check your bank account in your country of origin. Ato want to check Aussie accounts in Thai people who are on pensions

[@Male666chauvinist]

Where did you get that info from mate???

[@alanwood8636]

@@Male666chauvinist reciprocal OECD agreements mean yr bank information can be asked for by tax authorities Singapore has fone this for years. ATO Australia can ask Thai to supply accounts from everyone on a pension..and vice versa

[@hankck9195]

Bad audio but opinions spot on

[@reggie5]

are you sure you haven't lost your job but kept the keys to the KZbin account? 😅

[@jcmolette1613]

You're not the only one...the thought crossed my mind. I've only been watching these videos for a couple of months, and the frequency and intensity (or should I say repetition) of the subject matter is palpable. That said, KZbin is a moneymaker...

[@Diogenes515]

Presumably this would not be enacted (if it is) until 2025, unless it is pushed through very quickly? And if so it wouldn’t take effect until 2026?

[@raypeter7332]

Thailand has 70 millions people and 4 million pay tax!!!!!!!!!!!

[@redpilljourney]

I reckon your right Mr Ben 😀

[@johnbutler2174]

I like your new look.

[@jeanclaudeleclercq8330]

They need respect all the 2x taxes agrement from 1971 and use the languages from these countries and thai language not english like they want and manipulate the texts with their convenience, Thailand is amazing and will loso so much in my opinoon.

[@samsmalle]

They are not wired up right 🙈🙈🙈

[@consulthai]

agree with this lawyer. In any case taxing income remitted to Thailand is easy to access but going after unremitted income is going to take years ( as this lawyer says)if ever ,to implement . Even the 180 day rule is arbitrary as many tourists might overstay this in a calendar year. What are they doing, killing tourism? Furthermore the elite visa,for instance, is a tourist visa and prohibited from working. They ban you from working in Thailand to earn income yet they want to tax you on income you earn overseas? I think like most things here it will not go through or if it does it will cost Thailand more than it's worth . It's true though, that since you're no longer a tax payer in your own country you shouldn't use Thailand as a tax free haven but the income you bring in which you didn't pay tax on should be taxed. Not anything else. Capital gains shouldn't be taxes if it was tax free in say, Australia ,like your family home you sold. Then you should be able to use some of that money to buy real estate in Thailand. The Revenue department here shouldn't make rules without consulting other departments, like the Condo laws, BOI laws, Monies which support Thai families who the government here doesn't provide a social safety net. If they enact this law at its worst version they won't be able to police it for many years. Their systems aren't sophisticated enough and would be overwhelmed. Australia is probably a smaller segment of expats here, how about Germans, UK,.let alone Chinese whose systems are probably half the black economy. Moreover the loophole is about capita/savings as opposed to income. Initially they proposed this to tax Thai citizens who shifted money offshore and earn income but it's untaxed there since they aren't taxpayers offshore . Now they target expats who reside here over 180 days. They may not even reside here,just come and go as they might as retired expats . Then suddenly they miscalculated adding up all their accumulated stays , it's 190 days and bingo, they're taxed to the hilt. I think the Thai Tourism Authority will have a lot to say about this.

[@pistonpilot]

Lookup your microphone and tell us what it is. My mic is an audix 2. It's old but sounds so powerful. I have to be on my mic. It is up to your settings too.

[@JohnRunaway.Official]

As Joe Rogan always says: "Mic about a fitfull away from your mouth" 😅 Thanks for the content!

[@mplt6151]

ChatGPT is saying the following: „In particular, Thailand is part of the OECD’s Southeast Asia Regional Programme (SEARP), which aims to strengthen cooperation between Southeast Asian countries and the OECD. Through this platform, Thailand engages with the OECD in areas such as tax reform, education, and governance.“

[@dogfish180]

How will the tax office know how much money I bring in? Will they have access to everyone's banking information???

[@raypeter7332]

No problem IF We can get a citizenship-can own land and so on! Pay tax when get nothing I.e. benefits and paid tax already in country of origin.

[@clrodrick]

I still don't see how they enforce this, not to mention all the tax treaties Thailand has with other countries. If anything this ridiculous policy will just be a big boon for the Thai tax filing industry as tax preparers will be busy dealing with farang (even as it gives little to Thai government coffers). I plan on moving to Thailand early next year and apply for a 1yr retirement VISA and remain on the fence on all this.

[@OhmyGod99999]

Not that difficult to enforce really.The Tax department will be unable to check everyone but they could do a simple cross reference with immigration to identify which foreigners are living in the country. They are then, as in most western countries, highly likely to do a sample check / audit of some of these individuals. It's not the most difficult thing in the world and people who ignore it maybe in for a shock sometime in the future. Withdrawals from ATMs can also be traced as Thailand adheres to the Common Reporting Standards (CRS) and the Automatic Exchange of Information meaning your financial data is automatically exchanged between banks and governments. It certainly won't be straight forward but people who think this won't happen because TiT are just burying their head in the sand.

[@kmichael1850]

@@OhmyGod99999 You must be new here if you think the Thais can possibly enforce this 😆. This will be a big failure and swept under the rug to save face.

[@clrodrick]

@@OhmyGod99999 I hear what you are saying but it is more difficult than you suggest. At very least it will require Thai government to hire 10s of thousands (maybe 100+ thousand) new tax enforcement workers with the proper skills and pay them wages and benefits to do all the scut work to try and track down any rich foreigner not paying their global tax duties. Wake me when the Bangkok news reports on 10s of thousands of new tax enforcers being hired. Until thin I will keep thinking TIT and carry on with my plans to retire in Thailand.

[@kwhatten]

They'll also base issuance of visas on submission of tax documents from your home country.

[@clrodrick]

@@kwhatten Yeah I understand all of what it means when entire world turns Totalitarian. But again I will say doing all this will take 10s of thousands of new tax enforcement employees hired by Thai government. I think *that* is the thing to watch for when it is not just talk

[@frankmarshall1770]

Would you recomend LTR retirement visa if you have the means it tax exemption clause?

[@Tsaotun]

What about if there is a double taxation treaty, then they couldn't tax you twice on it could they?

[@markanderson5343]

Ben, my new idea 555.......i own a country, i just decided. Sooooo. Name of my country? ( Taxataunie) And based on inernational norms , everyone who earns anything anywhere in the world is in Taxataunie and owes me 15% . 😂🎉 555

[@markanderson5343]

Great job on informing

[@brendanscully5787]

green screen at rear......then you can have a tropical background......sound is not good.......neck mike?

[@knowbs2122]

Do you do a pod cast in thai language , to inform thai people of what is going on ,they need informing

[@TheThailightZone]

How can they possibly gain access to our private personal financial affairs in another country?

[@Diogenes515]

Through information exchange under the Common Reporting Standard, I’m afraid. You might like to Google this if you’re not aware of it.

[@ศุภชัยมุก]

ETA is the answer. Forcing you to give information personal data if you want travel to and enter thailand

[@dogfish180]

​@ศุภชัยมุก That would mean that immigration becomes part of the tax department. Not going to happen. There's no TM6 anymore, so they don't even know where people live. Unless you volunteer information. Which I won't be doing.

[@VibrantLivingLists]

short term gain for long term loss. theyll loose out on millions a year in international money spent there due to people just leaving