If you are worry about taxes in Thailand, do as I did...

If you are worry about taxes in Thailand, do as I did...
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[@PloyandJayinThailand]

สาวบุรีรัมย์กับผู้บ่าวฟินแลนด์🇹🇭🇫🇮 Thank you for watching and commenting. Would you like to support this channel? Buy us a coffee ☕️ www.buymeacoffee.com/ployjaystory

[@RickyIsaan]

Love it Jay. Rather than sitting around wondering you went directly to the tax office for the information

[@PloyandJayinThailand]

Action is the best move 🙏Was a bit nervous about the outcome but luckily I was wrong 😂I am just thinking all the expats who say “I move to Cambodia if Thailand tax me twice”…they should do the same as I did

[@NativeFarang]

You did the smart thing Jay and just asked, hopefully others take your advice and do the same if they're unsure 😅

[@PloyandJayinThailand]

👌🙏

[@MichaelSchaaf-k3z]

Hello together, I am are retired soldier from Germany. I live in Isaan with my Thai wife. After your video I decided to go to revenue bureau in Bueng Kan. At the end they say we don't give you a TIN and they never want to do it. Thank you very much for your video. With best regards Michael

[@PloyandJayinThailand]

Interesting outcome 🙏Was the reason because you are on a retirement visa? I am hearing some tax offices don't give a TIN if you have a retirement visa

[@MichaelSchaaf-k3z]

I don't know really. I stay with retirement visa but I already stay here with my married Thai lady. But they told me not to give a TIN ever. The reason was: That is the law. I hope that will never change. I sleep now very better. That is your your achievement. Again : Thank you very much for kicking me in the right way. All the best Michael

[@PloyandJayinThailand]

@@MichaelSchaaf-k3z ok, thanks for your clarification. As we know, all tax offices and immigrations have their “own laws”. I easily got my TIN and Ploy filed my tax return after chatting with a tax advisor at the office 🙏

[@thesheperd7567]

Thankyou for doing the ground work. I'm also in Isaan, retired UK soldier and have Tax Dual Agreement. I just know they can't possibly issue a TIN and chase everyone up. If so I would use my daughter's account as gift money.

[@PloyandJayinThailand]

@@thesheperd7567 they might not need to chase anyone if filing a tax return becomes mandatory to get a visa extension. Anyway, it’s your responsibility to file a tax return not theirs

[@thairoadtrip9018]

I didn't pay tax in Thailand over the last 4 years but what I did do is support my GF's family during Covid, pay her car repayments of 20000 Baht a month when there was no other help and help local businesses. Sounds like a good way to get rid of a large number of expats for half a year. A choice between tax back home or pay the same percentage in Thailand is a no brainer: you get a pension back home. I wonder how Thailand will benefit from this change?

[@PloyandJayinThailand]

Well, it doesn't mean you must pay taxes in Thailand although tax rules are changing 🙏if you are worried about that visit your nearest tax office to get clarification as I did 🙏

[@SvirepiyBambr-xw8rw]

Unfortunately, it is not what I wanted to know: how are we going to protect our savings (from already taxed salaried income) and home sale money from being taxed when transferred into Thailand. Here is the deciding element: if they want to tax money I have got when I seld my principal residence (capital gain from capital residence is not taxed in Canada) than it's a big no-no. If they want to tax my savings then it is crucially important to understand whether there is a clear way to defend my savings against taxation in Thailand.

[@PloyandJayinThailand]

Savings are not taxable. Besides, Thailand has stated money earned before January 1, 2024, is not taxable. So, if you have sold your home before this year, you should be fine because you can bring that money into Thailand whenever you want. You should clarify this by consulting your nearest Thai tax office or tax accountant because I am not a tax expert.

[@MrSean03839]

​@@PloyandJayinThailand According to the new rule Thailand will tax all income coming in.

[@PloyandJayinThailand]

@@MrSean03839 that is incorrect information

[@MrSean03839]

@@PloyandJayinThailand Not according to the new rule that went into effect 1-1-24.

[@PloyandJayinThailand]

@@MrSean03839 ”tax all income coming in” after 1-1-24 is not true because it depends on the type of income you remit into Thailand + Double Tax Treaties. There are also deductions, allowances, and DTA credit (the first 150k baht is tax-free) which means that if I remit all income I get this year, I might still pay zero taxes in Thailand. Tax law is not as simple as many people think.

[@davthai100]

Love the video. Did you provide any proof that your funds was already taxed in your home country ? If so, was it translated ?

[@PloyandJayinThailand]

Yes. My personal income tax report was translated into English (I got it smoothly online from the Finnish Tax Authority).

[@wolfgang3026]

Thank you for letting us Expats know ❤ I'm stay in Hua Hin and will visit them soon. 🤗❤️🙏

[@PloyandJayinThailand]

🙏

[@susanzimmerli5178]

Please correct me if I‘m wrong but whatever has been transfered to Thailand up to 31.12.2023 does not count at all. This whole thing starts from 01.01.24. There are countries where you don‘t pay any tax as soon as you leave and you have no resident adress anymore in your home country. But you seem to still have some business in Finland and therefor you are still tax resident there (Finland) of course, thats why you don‘t have to pay taxes in Thailand, right?

[@PloyandJayinThailand]

Well, it counts under the old rule. If the money earned in 2023 was transferred into Thailand in 2023 (like in my case) is still under the old rules, so it can be taxable. That's why I went to the tax office to file my tax return. I paid zero baht taxes here because I already paid taxes in Finland, so the Double Tax Treaty protects me from double taxation. But money earned before 2023 and transferred in 2023 is not taxable under the old rule. Also, money earned before 2024 is not taxable if you bring it into Thailand. Tax laws are very complicated, and I am not a tax expert although I share my experiences 🙏there are many details if Finland can still tax me or not and every country has different tax laws and Tax Treaties with Thailand

[@arolavs]

@@PloyandJayinThailand In some Region Offices, they tax the current year + the 2 previous years. This is the normal control period in Thailand and it has not changed. But since they say from 1.1.24, maybe they will not look too much in the passports this year. I only know that some offices are more on this than others, and they calculate interest too with 1,5% each month.

[@arolavs]

@@PloyandJayinThailand Maybe you can talk to Korat Region Office and find out this. Most norwegian go 3-5 years first time, because we have an advantage of doing so. The DTA gives us right to do it!

[@PloyandJayinThailand]

@@arolavs I am in Buriram, and will do my taxes here

[@arolavs]

@@PloyandJayinThailand I know, but they are not region o. Only the region offices can decide. They have the control unit for international taxation. They will give u R.O 21 and 22. You do not have international taxation yet, so Buriram is ok for you.

[@ubiquitousdiabolus]

For Americans: According to Thai-USA tax treaty, state pensions and social security are only taxable in the country that pays the funds (i.e. the USA)

[@PloyandJayinThailand]

Great 🙏

[@jackb5708]

If it ends up in a Thai bank account you are going to have to prove that you have already paid tax on it.

[@arolavs]

Wrong! Pension in Thailand and Sos.sec in US. There is a video on this. kzbin.info/www/bejne/bmmZg4inrct0iLs

[@wengelder9256]

@@jackb5708nonsense . If the DTA clearly states that income was only taxable in the source country , u don’t even have to file for taxes . Because it’s not assessable income u don’t even need a tax file number .

[@andyjackson5986]

What about the 80000 bht you have to put in a thai bank for your visa do you get taxed on that?

[@PloyandJayinThailand]

It depends on what type of money you put in. Are you a tax resident or not?

[@coopcooper3194]

Havnt they also changed the rules that foreigners can buy a house if they have a working visa

[@PloyandJayinThailand]

A working visa doesn't help you if you are a foreigner because you cannot put land directly under your name. However, there are ways to buy a house and own it legally.

[@coopcooper3194]

@@PloyandJayinThailand my thai girlfriends sister said its just changed they are in phuket and Russians are buying up. I hope it's not true I like the fact that foreigners can't buy. Will keep prices down

[@PloyandJayinThailand]

@@coopcooper3194 many foreigners buy houses in Phuket using nominee companies which is very risky and illegal: www.thephuketnews.com/property/can-you-own-a-property-through-a-thai-company/

[@MrEye4get]

Buying a house isn't the same as purchasing the land on which it is built!

[@PloyandJayinThailand]

@@MrEye4get lol, thanks for the clarification 😂

[@zyzzyva1983]

i have just seen Ploy getting so upset on her channel .... please tell her she does an amazing job and as i have already said ignore the haters they are only jealous ....you can tell ! 100% that you two are so in love and that you are clearly made for each other .... give her a hug from us and tell her that she inspires so many people with her story and yours too ...regards to you both xx

[@PloyandJayinThailand]

She has been a bit tired. Thanks for your support 🙏

[@robertcrook450]

So how much was your tax bill in thai (think 0bt but you did not say)

[@PloyandJayinThailand]

I did mention that because I already pay more taxes in Finland they credited that so yes 0 baht. I needed to file a tax return tho 🙏

[@b4bmm]

Did you own your land or buy? How far from Buriram? I Haven't followed your story this video just popped up but as it happens im in Buriram for the next couple of days.

[@PloyandJayinThailand]

We bought this land and we are in the Buriram city area near Big C 🙏where are you?

[@b4bmm]

@@PloyandJayinThailand that’s a pretty good location. I’m staying a short distance from Robinsons.

[@neilyboyuk]

I see your worried about the steps being slippy. Did you think more about getting guttering fitted? would keep the walls cleaner over a period of time also👍

[@PloyandJayinThailand]

Coming 🙏

[@johnfoose4883]

U need to add more room to your back door. Like extend it so people do not fall off.

[@PloyandJayinThailand]

What do you mean?

[@johnfoose4883]

@@PloyandJayinThailand The back of the patio is very narrow. People could get hurt.

[@thegeniusfool]

Cool that Finnish has the same nasal tone as Thai.

[@PloyandJayinThailand]

😂😂😂🙏🙏🙏

[@molonlabe9602]

It sounds as if they are interested in mostly "earned" income. That which is received for performing a service or selling of goods that you might have poroduced, because they weren't interested in your dividend income, which isn't what we in the states would call earned income. The whole things is quite messy right now with no clarity. Luckily, I wasn't in Thaiand for 180 days last year so I moved a lot of money over in 2023. I figure that if you're married, with the deduction, allowances and tax threshold starting at 150,000, a couple can bring in MAYBE 270,000 Baht and not have a tax liability to pay. 100,000 expense deduction (50% of assessable income, max 100,000)+60,000 personal allowance each for wife+husband +150,000 level to start paying tax. But like you, I'm not a tax expert.

[@PloyandJayinThailand]

Thanks for your insight 🙏

[@thesheperd7567]

Having an non O visa based on retirement, holding a TIN would encourage many to use it for employment, not a clever idea.

[@PloyandJayinThailand]

Really? 😂

[@ivanfahler]

I like listening to you talk about taxes ✌️

[@PloyandJayinThailand]

Thanks for watching 🙏

[@Duncandisorderly9111]

Still not clear rules as yet Guaranteed to change is normal Everyone no matter wot there financial history shouldn't worry Theres always ways round everything in Thailand

[@PloyandJayinThailand]

Rules get clear once you go to your nearest tax office. Many expats are afraid to send money into their Thai bank accounts although there is no reason to be afraid.

[@okrim-thailand]

I just start to watch the video but i know already that i don´t have to worry about the new tax laws. This is Thailand. Same with the cannabis law or other laws. Great you make videos again. All the best to you both.

[@PloyandJayinThailand]

No need to worry if you already pay taxes in your home country and treaty protect you 🙏

[@JensMichaelCramer]

Hi Good video. You did not tell how the tax office saw your transfer of 4 mio bath to build the house? If you transferede the money in lets say 2023 but didnt stay more than 180 days in Thailand in 2023 this amount of 4 mio would as for as I have seen from official rules not be taxable. Actually the tax rules have not really changed. How did you get a TIN? What documentation did you bring to the tax office.? Was it the official yearly tax bill from Findland translated (google translate?)? Best regards We plan to move to Thailand early 2025 and will transfer our savings for our house build in 2024 - before we will hit the 180 days in income year. I guess this is the way to keep out of troubles and diskussions. Savings transfer to Thailand must be the difficult part. Following pension income is easy to document as taxed in Denmark and not taxable in Thailand because of the double tax agreement between DK and Thailand. Jens from Denmark

[@PloyandJayinThailand]

Thanks 🙏I filed my tax return voluntarily because wanted clarify my tax situation. I had my translated (in English) tax report with me.So I tell them that I rwmitted 4 M baht in 2023 and explained the type of money (personal income, dividends and stock income). Tax office gave me TIN and Ploy filed my tax return with assistant as all were in Thai language. Easy case and zero baht paid 🙏

[@maryziggy8802]

Great informative news

[@PloyandJayinThailand]

Thanks for watching 🙏

[@billsimpson2392]

Good outcome Jay 👍👍

[@PloyandJayinThailand]

The best 🙏

[@jampasurprenant1794]

Hey young man I called you young men because I am severely five years old 75 years of age and have been living and working about 40 years And fired my taxes every Years including this year 55 years total off. I'm not going to Thailand to double paying then again Besides the tax the visa is also the new thing for the Thai government. Besides me lots of Thai women living in America Millions of them still live here. Some of them probably don't have enough money to travel to Thailand.

[@PloyandJayinThailand]

Thanks for your comment and story. You will not double pay anything 🙏

[@arolavs]

If not Thailand has income from taxes, we would not have roads, water in the kitchen ++, so if you do not like to pay tax, just move back home! Tell your home country to change the DTA, so you will have an advantage of paying your taxes in Thailand, some of us have already that and we save a lot of money every year! The DTA is the main TaxLaw, its above the Tax law in your home country and above the Thai Tax Law! The DTA gives Thailand the right to collect all info they need! It also gives you the right to stop taxation in your home country during the year if the taxes SHALL be paid in Thailand. Only a few %% of farang will understand this rights! The DTA is your key to understand double taxation! If you have paid too much tax in your home country, they will pay you back later after received documents, R.O 21 and 22, from Thailand, but it can take time to have the final Tax certificate and the money back

[@PloyandJayinThailand]

Thanks for your insight

[@tyvid]

For Australians: our pensions are tax-free. So potentially we are screwed under our DTA. I have been building up my future private pension putting into Australian Superannuation fund where i can later convert it into a comfortable pension income stream. Tax free income after all my life paying high taxes in my country. I am waiting until 1 Jan and if we are forced to get TIN and lodge a return and be tax assessed, then I am leaving Thailand. I have worked out, after the exemption, I could have around 20% of my income taxed by Thai revenue office if I remain in Thailand. ⅕ of my income reduced means less enjoyment, higher cost of living here. I have a retirement visa (O) extension of stay each year, am single, so no Thai partner to be able to send tax-free 'gift'. This is unacceptable for me. Some may accept it, but I predict many will not. And forget buying properties in Thailand.

[@PloyandJayinThailand]

Consult a tax specialist. I would not buy a property in your situation.

[@Ride_on54]

So let me get this right your on a retirement Visa and not aloud to work but they still class you as a Tax resident and want to tax you ?? 🤣 that doesn’t even make sense that just shows you the desperation of some of these governments around the world im trying to leave Australia because of the over taxation in our system

[@PloyandJayinThailand]

You are a tax resident in Thailand, if you live 180 days or more per calendar year here as many foreigners/retirees live. However, it does NOT mean that you pay taxes in Thailand because there are many details to meet until you pay taxes here. Besides, Thailand has a remittance-based tax system, and all money you’ve earned BEFORE this year is tax-free. Also, almost all foreigners live in Thailand under Double Tax Treaty which you should understand to make a good tax plan. There are also many exemptions (some of the pensions, for example, depend on the DTA dividend income and might be tax-free if it is already highly taxed in your home country, etc). I would add that before Thailand gets any of your hard-earned money, Thailand gives you also many deductions and allowances + based on the DTA tax credit which means many foreigners pay zero taxes at the end of Thailand.

[@MorayMac]

you were not driving the car like a rally driver I expected some air between the tyres and road

[@PloyandJayinThailand]

Hahahaha but I speak rally English 😂

[@MorayMac]

Your English is fine no idea why some have difficulty understanding you

[@PloyandJayinThailand]

@@MorayMac 😂🙏

[@wchaleyjr43]

They live outside on a farm there

[@PloyandJayinThailand]

🙏

[@wchaleyjr43]

HAVE YOU EVER SEEN RYAN A D HIS FAMILY THERE WHERE YOU LIVE ??

[@PloyandJayinThailand]

No. They live in rural area, and we are almost like in city of Buriram. This is a very big and large province 🙏

[@PATThaiA]

Liked.

[@PloyandJayinThailand]

Thanks for liking 🙏

[@PaulRLight]

Who was your tax advisor? Independent contractor or an employee of the Thai government office?

[@PloyandJayinThailand]

There are only employees as it is a Thai government office

[@singas2854]

Much ado about nothing Unless you are a tax dodger

[@PloyandJayinThailand]

🙏👌

[@scott5411]

If you're worried about taxes, then go home,you are a cheap charlie.

[@PloyandJayinThailand]

Hahaha

[@jampasurprenant1794]

You still did not tell us anything yet please tell us what they are saying about your tax I'm waiting for you to tell me. Hey I'm not interested in your house just the amount of your taxes. Tells us

[@PloyandJayinThailand]

All I said was on the video? I paid zero baht taxes in Thailand thanks for the Double Tax Treaty, allowances and deductions (all these three components vary case by case).

[@jamesedwards2966]

This is not helpful.

[@PloyandJayinThailand]

Glad you like it 🙏

[@MorayMac]

@@PloyandJayinThailand