Proposed Changes to Thailand Tax (It's not good)

Thailand is considering making major changes to the way it taxes residents, including expats who reside in Thailand. This is on top of the already announced changes to the way foreign sourced income is to be taxed from 1 January 2024.
Now there are reports that The Thai revenue department is considering fulling scrapping Thailand's territorial tax status and moving to a full residency based taxation system where all income and capital will be taxed in Thailand regardless of where it is earned and whether or not it is remitted into Thailand. It is just a proposal at this stage but still something all expats should have on their radar as it would make a huge difference to the way foreigners are taxed in Thailand.
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DISCLAIMER: This video is not professional advice of any kind. The purpose of this video is for research and entertainment only. It is your responsibility to do your own research and verify the accuracy and timeliness of any information that we provide, and to obtain the services of a professional if necessary. If you wish to obtain professional advice from us, you need to first formally engage us to provide services.
#thailand

[@jasonaris5316]

Anyone would think they don’t want foreigners moving there

[@thailandsnippets901]

Think of the run on the Thai Banks when the exodus starts!!

[@stevend8785]

They like your money but they don’t like you, for the most part.

[@oscarvaldez7142]

Fly into TL and just leave your money with them at the airport and you may then leave on the next plane out is their true feelings.

[@Richard.Cabeza]

@@thailandsnippets901 Exactly. Don't put large amount of money in a Thai bank.

[@kellywalker4494]

@@stevend8785agree

[@wm3138]

What retiree needs extra legal bullshit and complications regarding taxation? I will leave.

[@Richard.Cabeza]

and just imagine how difficult they'll make it.

[@titantitan2851]

This is going to hurt my Thai partner and her family.... I wont pay tax nor will I deal with a foreign accountant... Philippines looks good.

[@clinth2414]

You might check Philippine expat taxation, my research revealed they have always taxed US expats as "global tax citizens". As westerners it is hard to understand Thailand's many uncertainties, only exacerbated by involving a Thai accountant. No win!

[@morganmccarthur1633]

I will certainly avoid Thailand and advise everyone I meet to avoid Thailand. Who ever thought this idea up is out of touch with the drawbacks.

[@gregpowell1962]

What bothers me is the Tax department representatives that I have seen interviewed,about it don't seem to understand what will and won't be taxed. They have their own interpretations. So I am out of there.

[@waynesitarz424]

My Thai bank interest is eaten up by Thai tax withheld and ATM fee. My world income is 99.99% Canadian and already taxed. I will not pay any income tax to Thailand and will change to tourist visas split between several countries.

[@SvirepiyBambr-xw8rw]

I am Canadian too. Have you done some rough calculations by chance? Is Thai income tax higher than Canadian? I had an impression that our income tax in Canada is quite high but never actually compared it to the Thai.

[@BoninBrighton]

@@SvirepiyBambr-xw8rwalso need to calculate additional costs of location hopping constantly… no one year rentals.

[@gregpowell1962]

Yep same here.

[@jamesvengren5316]

If you pay tax then you should get medical for free

[@oscarvaldez7142]

yes, if paying tax, then should get the 30 Baht insurance plan for free.

[@Mark-yo5ue]

Ok, so do you really want free medical from Thailand. My wife’s Thai family avails of the low cost medical and it’s a bit scary. Not a benefit I wish to have in Thailand.

[@wesgraham2262]

Changed my mind about getting a retirement visa and living in Thailand. No way!

[@cryptocrusader6078]

6 months bounce this tax will destroy Thailand

[@feelinforty]

179 days and I'm out.

[@gregpowell1962]

I had tickets to Australia booked for Sep 5th, I fled to Lao at 175 days when I found out the law was introduced in January. I found out on the 31st of July that it was law. I am returning to fly out on the 2nd. My calculations say 179 days I hope I am correct. I hate doing Tax returns. To Malaysia next I think. After I do my Tax return in Australia. Then who knows but Thailand for only 179 days. The girlfriend is not happy.

[@Sammyli99]

@@gregpowell1962 Tax return is 4 numbers...LOL. Way the west is going you gonna pay tax on that pension cos USA needs to SALES-FUNNEL those NUKE-SUBS to meet its GDP.

[@wm3138]

Stop spending any disposable money in Thailand.

[@tingtong5898]

Why?

[@SvirepiyBambr-xw8rw]

@@tingtong5898 He wants all Ploys for himself 😂

[@Sammyli99]

just spend non-disposable money!

[@VibrantLivingLists]

For the sake of getting 10-15% tax from foreigners they will loose out on 70-80% of their income being spent on living there. This has got to be the stupidest thing I’ve seen to get people to spend money there. If it ends up passing I’ll be changing where I move to and be lucky to spend the 6 months there per year.

[@JesusChrist2000BC]

Yep. The thing about Thailand is they are a one-step forward and three steps back country when it comes to finances for foreigners. They think that they can try to shake foreigners down for all the money that they have every single cent. But it just backfires people are already spending tens of thousands of dollars a year in Thailand and that's just per person. If you add it all up it ends up being billions of dollars worth of Revenue every year. They will see a sharp drop in that due to this policy but that's what they need in order to learn their lesson it's going to be fun watching this get rolled back four or five years later it's just unfortunate that we all have to wait until then. See you all in the philippines, vietnam, OR Cambodia.

[@somluck2813]

Do you really think you could stand up in Lumphini Park and persuade the crowd while Thai tax residents should pay tax on their world wide income, farang expat tax residents should be exempt from tax? Farang logic 😂

[@nomadic-mind]

I think even Thai's would agree that foreign source income should be tax exempt.

[@Sammyli99]

@@somluck2813 Tax is not high when you consider the benefit, most Expats have blinkers on, but thats good, I dont want more Dheads in Thailand.

[@beatwey5442]

There is one family who won’t pay any taxes no matter what the new tax law will be

[@jglee6721]

lol. Good one.

[@ayebo15]

Actually there are several ones worldwide

[@Sammyli99]

mine, of course.

[@nickmondo222]

i have already gone mate. I left after 172 days in Thailand this year. Be back in January. Vietnam is great by the way.

[@BambinoAmericano]

That’s the way to go.

[@mlgneo2855]

@nicknaidment what visa do you use to stay in Vietnam long term?

[@JesusChrist2000BC]

Vietnam has no long term stay options. 30 visa extendable to 60 not enough time.

[@Sammyli99]

@@JesusChrist2000BC get a VAN and do SE Asia, be back in time for Song Khran.

[@nomadic-mind]

@@mlgneo2855 DT3 investor visa. That said taxes in Vietnam are worse than in Thailand.

[@AusValue]

oof imagine buying the elite visa after the fees rose, then being copped with this news

[@zolafero5781]

Exactly happened to me. Got it in June 23

[@robknadle5728]

That seems like it was all planned. They were finally getting decent sales after over a decade of being deep in the red. Then the fear of missing out and jacking up the the price by a huge amount. Now they're subject to over 25-35% of all income even pensions and savings. Even if not brought into Thailand and subject to being audited if not pay correctly. No clear rules after 8 months and they will change it out of the blue again how they want.

[@SpearofDestiny-c8y]

Elite Visa holders are exempt from tax on their overseas remitted funds to Thailand.

[@SpearofDestiny-c8y]

Not Taxed when you are an Elite Visa holder

[@zolafero5781]

@@SpearofDestiny-c8yunfortunately we will be taxed

[@scottfree993]

I suspect there will be a massive boycott of the new laws, either buy staying under the 6 months per year, by abandoning Thailand completely or just refusing to deal with the bureaucracy.

[@Ride_on54]

Foreigners are contributing to the economy by spending all their superannuation in Thailand give me a break

[@user-kz9rp3pq2z]

Really disappointing. Two tax returns will be a total nightmare.

[@susanzimmerli5178]

Why two tax returns?

[@user-kz9rp3pq2z]

@@susanzimmerli5178 potential for country of citizenship and country of residence ie Thailand

[@susanzimmerli5178]

@@user-kz9rp3pq2z As I left my country I‘m no taxresident any more there and Indon‘t habe to pay tax there so no tax returns. Only tax in Thailand for my money I transfer from income abroad.

[@SvirepiyBambr-xw8rw]

@@susanzimmerli5178 I am a Canadian citizen and work remotely for a Canadian employer. It means that for the Canadian Revenue Agency I am a Canadian tax resident and should file an income tax return. Then Thailand jumps in and demands me to file another income tax return if I am a Thai resident and transfer money to my Thai bank account. Here is how I can get to file 2 tax returns in 1 year 🤷

[@albertinsinger7443]

Andorra 10% flat tax in the center of Europe. You get permanent residency can own property.

[@Sammyli99]

cost of living 3x.

[@longtime102]

I would not mined paying some tax but what do i get in return, nothing, Philippines here i come.

[@cainejingtrakool8205]

GOOD MORNING VIETNAM !!! JUST AS BEAUTIFUL AS THAILAND ! TAX friendly ! MUCH CHEAPER !

[@tyvid]

But no retirement visa

[@mlgneo2855]

What visa are you using to stay in Vietnam long term?

[@iLuvLife_Aus]

Dual tax agreements will minimize tax however submitting tax returns will add complexity. 179 days in Thailand is the way to go and enjoy SEA. Indonesia actually making it easier - check out 2024 second home 10-year visa by investment.

[@FrozenSkyy]

I've heard the Indonesia 2nd home 10 year visas don't get issued. Is that true? Do you have one.. Or know others that have it? Interested in that.

[@USARAY1947]

Exactly. I spend North American winters in Thailand and stay less than six months to keep my medical insurance. The insurance covers me both at home and abroad and at 77 years, that's crucial.

[@peterhannon9972]

Will it affect my pension if I retire there. I'm 65 and thinking of retiring there?

[@nomadic-mind]

Entry and exit are typically counted as days in the country so it's less than 179.

[@peterhannon9972]

@@sunriseinisaan Ireland. Military and widowed.

[@jameshartnett3538]

I predict a lot of empty condos come november

[@OneJuanWon]

If Thailand were to go through with implementing this, I would only go there to visit for 2-4 weeks, but not reside. There's other options in SE Asia that don't do this (for now at least).

[@testicool013]

It was implemented 1st January

[@Richard.Cabeza]

Next year I will be doing the same, but 2-4 months.

[@timcarney7175]

Who in their right-mind would voluntarily enter into another country's tax collection apparatus. I would much rather buy a plane ticket to Costa Rica, Malaysia, Panama, Philippines Etc. and leave Thailand before 180 days. The tax savings would pay for your rent in another country.

[@JD-jdeener]

In an upcoming video could you feature alternatives to Thailand that you feel are a good alternative to retire in SE Asia?

[@offshoreinasia]

Thanks JD, I'll put in on our list.

[@davidwalden2887]

I am an Australian Aged Pension (AAP) recipient living in Thailand. I also get Aus12,000 per year from my tax-free superannuation fund, I also have a moderate amount of cash in the bank, which is for seniors and is all tax-free in Australia, I am under the tax-free freehold. The superannuation is free of income tax in Australia. Will Thailand tax me, no one seems to be able to answer this question... I wonder about this? I remit most of this money to Thailand. Will I pay Thailand's tax? None of my income is taxable in Australia. Nice to hear from someone who knows? Many Australians and other countries' citizens will be in the same boat, will they be subject to double taxation. Many questions need to be answered soon.

[@testicool013]

5 minute read of the Thai -Australian tax treaty says your pension and super is safe anything over that just draw out through an ATM

[@natfash6026]

i think you will find if your Super was State Super Fund..no double tax, but AgedPension is taxable here in Thailand.

[@testicool013]

@@natfash6026 Australian aged pension is definetly not taxable in Thailand as Thailand and Australia have a tax treaty that clearly states that pensions are not taxable

[@Sammyli99]

look at income tax rules and you can relax 12k aussie is about B300k less zero band B150k, less your allowance B60 k max (so 210k is tax free) you would pay 5% on 90k baht, also health ins up to 100k is deductable too, so 90 x 5% less 50k for health (esti-mate) that's 40k x 5% = 2k baht, hardly a deal breaker. I would use ATMs although FEES and rates if more than 2k, send it in.

[@marleymarl0]

Doesn’t something 80% of the population pay no income tax? There is virtually no property tax either. I’ve been living and working here for 15 years hiring 10+ Thais full time, paying income tax, corporate tax, social security tax and collecting vat for govt, yet I am a non-immigrant, who has to report themselve every 90days, renew visa every year. And now they want to tax me on my investments abroad?

[@mlgneo2855]

Not taxed on your investment abroad. Taxed on money remitted into the country (wire/atm). The global tax is not on the table (at the moment).

[@SvirepiyBambr-xw8rw]

@@mlgneo2855 And how are they going to tax the ATM withdrawals? How do they know that the VISA card with "JOHN SNOW" printed on it belongs to the particular John Snow who resides in Chiang Mai?

[@thailandsnippets901]

​@@SvirepiyBambr-xw8rwEvery transaction through an Atm requires passport number and your phone number for a password before you can process it

[@mlgneo2855]

@@SvirepiyBambr-xw8rw you would declare that assessable income you withdrew on your tax return. It would be audited with the international reporting standards. On both sides (both banks).

[@Sammyli99]

LOL. Read the small print if you ran your offshore activities via another entity you can avoid tax by NOT sending the money to THAILAND that's all. Physical non-investment transfers in = Taxable, no physical transfers in you are ok, they don't tax at ATMs.

[@KurtStiegler]

Thailand has the right to chose its taxation system. But we have the right to chose if we like that. When you dont like it, dont go there. There are plenty of other beautiful countries who offer better conditions for expats.

[@Richard.Cabeza]

Malaysia is my go to place during the unhealthy air quality season. Then hop over the Philippines, then Vietnam. Change is good... many might actually find a better place for them to live.

[@JesusChrist2000BC]

Lol I was considering an elite visa which would have locked me into paying this(at least if I still spent over 180 days in the country). Now they aren't getting a dime. I'll just keep doing tourist visas.

[@wesgraham2262]

Not too smart are they? Thailand will lose much more revenue than they think they will bring in if that law is actually enacted. So many people will bail out of the country.

[@vicpincham8546]

I was going to retire there next year but now I will have to re think it

[@goldgeologist5320]

Spain and many other countries like this. So I have an idea. Form a business to own with a business partner to own 2 apartments, one in each country. Then the two partner alternate between the two countries to avoid the taxes.

[@taccntb4345]

How does this affect people who come to Thailand to retire? Hows does it affect people who dont WORK but are retired?? Not a chance in hell theyd try to tax retirees TWICE.

[@thailandsnippets901]

Don't you believe it.

[@28Seconds-ld6cp]

Of course they will.

[@gregpowell1962]

This retiree just pulled the plug on Thailand. Not doing another tax return. 179 days per year maximum.

[@bonky221]

Personally I blame the influencers who promoted Thailand as a hubspot for expat to reside in which cost housing, food and cost to go up combined with thailand GDP falling in last couple of years.

[@Richard.Cabeza]

I feel for those who use the ฿65,000/mo deposit method for their retirement visa. How will they avoid paying the taxes?

[@Sammyli99]

MARGINAL TBH= 65*12= 780, health ins and allowance 160 so tax on 620 its about 35kb tax or say flat 5%, at those rates I would say if you are on 65k a month you are doing VERY WELL. and should be saving 30-20k a month, I live well run a car and house and 5 dogs on 50% of that, and have no debt, in fact saving up for the 800k deposit, its the least I can leave my wife, for the wake.

[@johncohen4224]

Taxed twice, no way my friend

[@windhoundbrak]

What about the concept 'No taxation without Representation'? Free hospital consultations in future for taxpaying foreigners, free entry to national parks, easier access to Thai citizenship?

[@ScooterOnHisWay2024]

Do you think America's pretend principles apply globally? Hell, it usually doesn't even apply there.

[@natfash6026]

dream on...LOL

[@28Seconds-ld6cp]

lmao

[@thailandsnippets901]

I only have my pension to live on and now the Thai Government want to tax it. That means I cannot afford to live here any longer as I will not be able to exist on the smaller income. I will now move to Malaysia where they have a more tax friendly Government. Bye. Thailand.

[@SvirepiyBambr-xw8rw]

But Malaysia is more expensive than Thailand, isn't it?

[@thailandsnippets901]

​@@SvirepiyBambr-xw8rwMainly food cost, rest same as Chiang Mai

[@28Seconds-ld6cp]

Sorry to break the bad news to you, but apparently Malaysia is transitioning its tax system as well, supposedly by 2027. You may want to research this carefully before committing to Malaysia.

[@タラバガニアシモフ]

Great insight! Thanks for sharing!

[@offshoreinasia]

Glad it was helpful.

[@mattgloyn3928]

What about if you just live off savings and not working while in the country ? They can't tax your savings .

[@offshoreinasia]

That's right. Pre 2024 savings are excluded from the tax.

[@jameswest3275]

@@offshoreinasia yes but you still have to prove it every year.

[@28Seconds-ld6cp]

Um, and you don't make any income at all? No social security, no pension, no dividends from stocks, no interest on your bank accounts or bonds, etc.? Doubtful. And they will go after all these things, if you stay in Thailand more than half the year, under the new proposed rules.

[@BambinoAmericano]

Was planning Retirement visa or even Golden visa.. no way, going back to tourist visas. Just wondering if they would actually cumulate the time stamps in your passport..

[@gregpowell1962]

Yep I think they will.

[@bryanbrian1234]

When it comes to taxes they will never have enough, what will happen to the money more corruption, more taxes more corruption, start small and keep increasing. Always happens this way. Great to have a tax base that can't complain can't ask for accountability in return.

[@28Seconds-ld6cp]

And can't vote. ;)

[@thebanccapp]

Great synopsis and well presented!

[@offshoreinasia]

Thank you

[@thebanccapp]

@@offshoreinasia I'm Aussie living in Thailand, my 179 days in 2024 is up in 3 x weeks, I'm leaving. Re REMITTED TO THAILAND interpretation - does that include using your Australian Credit Card in Thailand?

[@BaronSamedi1959]

If all countries would agree that your worldwide income is taxed by your residence country, then all these tax shenanigans would be gone.

[@bobjuniel8683]

I will not lose 25% of my pension. It is time to go home. Who will care for the Thais that I care for? I can only do thar if I live in Thailand.

[@carstensanonym7527]

Interestingly everybody is focusing on foreigners in this matter, but for sure the Thai citizens are a much bigger group impacted by it. It will impact the rich Thais who have overseas income. More milk can be pressed out of this group i guess...

[@tingtong5898]

You are absolutely correct. This is aimed at wealthy Thais earning money outside their country. There are many paranoid expats.

[@SvirepiyBambr-xw8rw]

Do not worry about the rich folk, they will find a plenty of ways to transfer money without paying taxes. The easiest way is to buy some goods in another country, import it into Thailand and sell the goods. And voila! The money are in Thailand without a cross border bank transfer! And I am not a tax optimization specialist, not even close. There are much more clever and sophisticated guys who specialize in such tricks and these guys will do it much more subtly and smoothly 😉

[@binary_ironclad]

Great video. I was planning a return to Thailand in January but am watching this closely. Too many rabbit holes, it's too murky right now. Is there a place to monitor the proposal, even if it's in Thai, to see what's being discussed, and to extract details? Thank you.

[@stevecoombes2375]

How is this going to be policed? Will the banks have to report all incoming international transfers? Will Immigration report foreign income from the bank statements retirees/ married folk have to supply? What if I send money to my wife instead of myself? Lots of hurdles before they get this off the ground.

[@Richard.Cabeza]

They will likely put the full burden on foreigners to prove they paid the tax. It will be a Cluster-F

[@mlgneo2855]

Gifts to gf account aren’t taxed.

[@stevend8785]

Sounds like the optimal time to be there is about “Black Friday” to a the week BEFORE Songkran.

[@Richard.Cabeza]

Avoid the place from mid January to mid May. Unhealthy air quality.

[@thegalavantingbachelor7786]

Klaus Schwab's recent visit to Thailand was a red flag for many, and it was shortly after his visit that all these tax problems arose. Historically, any country the WEF gets involved with has had problems. Let's hope the King will not tolerate medeling from the outside.

[@EmanuelGrixti-h5q]

I am moving out of Thailand. There are many other countries that are more organized. U will not drain my account. Don't know what tomorrow will bring in Thailand.

[@JesusChrist2000BC]

And to think these clowns are doing just after the country had somewhat recovered tourism from 2020 and 2021. This won't be as bad as the lockdowns but if I am a bar owner or restaurant owner anywhere near a tourist area you should expect massive losses once this is implemented. Maybe 20 to 30%

[@AnthonysTradingChannel]

Good video, thank you for posting this. I’m looking to move my business to Thailand in the near future as I have a family here so I’ll be reaching out to you.

[@offshoreinasia]

Thanks Anthony

[@bobjuniel8683]

As retiree I report every 90 days to Thai immigration. Not once was I advised of any changes to Thai taxation laws. That could easily have been done with a Web site address for translations of the new law's implications.

[@bill.ned.4485]

Its going to only be for those u tubers and digital nomads. Retirees living off their savings or pensions should not be affected. They take tax out from my savings account after interest is added. Too many people spreading crap and others panicking

[@bobjuniel8683]

@@bill.ned.4485 Do you have that in writing from the Thai Tax Office? The spoken word is not worth the paper it is written on.

[@gregpowell1962]

Yeh I only found out it was law on the 31st of July. Quite upset about the money spent on retirement Visa. I only stumbled onto the information on a KZbin video. I was at 175 days. I packed up put everything into storage and am now sitting in Lao. If my calculations are correct I will have 179 days when I fly out on the 5th of September. The tickets where purchased before I found out so need to re enter Thailand to fly out. I hope my days in Thailand calculations are correct.

[@bobjuniel8683]

@@gregpowell1962 Investigate this, I believe if you fly Vientiane to Bangkok you can get 72 hours in transit at the airport. As I understand it the definition of a Thai Tax Resident between Thailand and your country is available on the internet. Federal Government Pensions are not subject to Taxation in Thailand but read it for yourself. If you have a permanent residence in your home country to return to, (I do not know how your country defines permanent), that makes you a tax resident of your own country. You fill in a tax residency form with your government, ring your tax office overseas and check. You only pay tax on the money you have brought into Thailand since 1 Jan 2024 at this stage. I wish the bastards that have read the Tax agreement would explain the facts, at least for US Americans, Canadians, UK Brits, Australians and New Zealanders. The original Australian agreement dates to 1989. It s only new changes that are of concern. I leave for Laos at 175 days. These Tax Consultants want us to pay hundreds of dollars to find out what they already know. I have to check if there is a Tax Agreement with Laos as I only get 90 days. The same situation as Thailand may apply, 179 days. Maybe I'll fly to Australia from Laos and my Thai lady will return to Thailand. She and her relatives may ultimately be the losers. This is an OECD international Tax Initiative. I believe the WEF plans to price out air travel for people like us, to save on fuel and carbon. Illegal immigration is turning countries against Muslims, coloureds, especially Africa and India, and Asia, North for the Norse, so to speak. The Nordic countries have been pressured to join NATO. The plan was EV cars with a 200km range, as town cars. Holidays may mean an electric train trip. Tax residence, medical insurance and travel insurance all enrich the insurance companies. It is a big plan by a private and secret elite, above the WEF.

[@nigelstrong5355]

These changes have made our mind up not to chose Thailand as a retirement destination ☹️

[@DoorCam-l7y]

It is only cash transfers to Thailand using the SWIFT banking system that will be taxed. ATM withdrawals 20k fee 250B is about 1%...... So 2 million baht costs 25k.....

[@scubamarc]

I'm out of here,I'm tired of being milked,the walking ATM,there are still countries where the sun shines

[@Chevignay]

It takes less than 15 mn to work out the loopholes in the new tax law...

[@richardbond4496]

time to move to vietnam cambodia malaysia philippines lol bye thailand they want you to pay so you can spend your money here lol

[@Swenser]

When is this new 600 year visa starting?

[@bobjuniel8683]

It used to be, tax is paid where the money is earned. My pensions are tax free. Now that Thailand plans 25% tax on that pension I have to leave. I have no deductions. If I go home I get free medical and hospital services and other aged assistance.

[@drkenchao1849]

ideas and demands posted here not really affect anything, unless policy makers read and agree to it 😊

[@bill.ned.4485]

If im retired and living of my saving i wont need to pay any tax.

[@GeorgeInTech]

Was planning on making a move to Thailand. Now I've decided to look elsewhere first, before making any commitments. This is totally disappointing. This type of uncertainty will make everyone reconsider that's in a similar position.

[@Richard.Cabeza]

Hold off making any big financial decision about Thailand.

[@SvirepiyBambr-xw8rw]

This reminds us why seasoned expats say "rent everything and own nothing in Thailand" 😉 I would not feel safe making big purchases in the country that makes sudden moves like that.

[@Sammyli99]

LOL I'm 20 years here never had a problem with taxes, just got a refund for 5 straight years due to my Health Insurance which is an annuity, so I got saving deducted as a "cost", don't ask wifey did it, but includes health cover 10 years, and a lump sum.

[@Berri7]

Why pay tax to a country where you can't own anything, have a business or basically have no rights at all.

[@roderick2105]

I assume the new arrangements - regarding taxing world-wide income - will not be introduced for the 2024 year. As we are already part way through the year. This raises the question of when the new wider tax rule will come into operation. Anyone know ?

[@mlgneo2855]

Correct. It’s not on the table, rumors.

[@jameswest3275]

this started 01/01/24. i am now a tax resident in Thailand and so is everyone else who has been here 180 plus days. you are going to be paying taxes in 2025. and of course they don't tell anyone what the new tax laws actually are going to be. just make a announcement and cause a huge panic. the system that lets Thailand see your USA (and other countries) tax returns is all ready in place. they know how much you make, what you paid and what the difference is for their tax rate and you will pay it.

[@tmorril]

I'm not paying double tax...period!

[@kyle1981]

How much would people get taxed on a pension if living there full time?

[@offshoreinasia]

Hi Kyle, pensions can often be tax free, depending on the DTA. If you want to go over your specific situation, best way would be to book a consult: offshoreinasia.com/book-a-call/ Thanks

[@chrissmall1246]

I will wait to see how things play out over the next couple of years. Thai government has a difficult time creating any rules or laws that stick. If it costs me substantially more to live here I will spend half the year somewhere else and Thailand will lose my investment in the country and its people. It may be small but add every other xpat that feels the same way and the loss to Thailand will be recognized, especially over the long term. I spend alot more than the 10000 baht the government is yet to make good on. Lets see what happens and make a choice accordingly.

[@HundredPercentSteve]

Just when I was getting ready to retire to Thailand🎉 they start this nonsense

[@oscarvaldez7142]

Time to find another country, TL is the land of rug pulls.

[@gregpowell1962]

I for one saw I was at 175 days and left to Lao until I fly back to Australia on the 5th September. I paid a lot for retirement visa. The rules were introduced after spending the money. I find my tax returns in Australia a pain. I am not doing another one. So now it is 179 days a year in Thailand max. I will bounce around SE Asia. I will lose my tax free threshold in Australia which is another thing that pisses me off.

[@gregmurray1255]

Leaving in 2 weeks thanks

[@natfash6026]

good luck friend

[@gregpowell1962]

Already left. Nearly got caught out I will be at 179 days. I hope. I fled to Lao after finding out on the 31st of July that it was already law.

[@jbennison5672]

What are the actual rules around this? Seems thst no one knows. Are they expecting to tax pension withdrawals? How abkut 500k in cash savings? How are they going to tax that Exactly? Only if an individual brings it to thailand? Whats stopping people from just withdrawing cash at an ATM?

[@SpearofDestiny-c8y]

18 years here 2 teenage children and 3 properties. Have 3 rental.properteis in UK which provides me with my "living income" which is akready taxed in UK, and I have in exccess of $500k offshore investments. I have found 2-3 means to circumvent tax. Plus I am not taxed on my "savings" that I accrued before 1 Jan 2024.

[@offshoreinasia]

Great to hear you've found a way for it to work for you.

[@bendikskristensen9000]

Tell me why should people not pay tax, do it in your home country or in Thailand.

[@Ulrich-y4b]

the problem will be the bureaucracy; forms, receipts etc. all in Thai; this has to be translated and will cost a lot

[@gregpowell1962]

@@Ulrich-y4b Yes I don't think I would be Taxed, but I don't want to be at the mercy of a tax lawyer in Thailand. The retirement visa did my head in. Money was pouring out hand over fist.

[@morrillT-gd8hs]

A lot of hot air over a non-issue because there are reciprocity agreements with most countries! H

[@scottfree993]

@@morrillT-gd8hs if that's the case then they need to to come out and say exactly which countries, which tax activities are exempt and which aren't so it's crystal clear.

[@morrillT-gd8hs]

@@scottfree993 I don't know the exact countries but it's safe to say most major western countries. Any income you have in your home country is exempt as long as it stays there. The only part that is taxed is the amount you bring in through the swift system. What you want to do is just use ATM machines. If you do send money through swift, keep it just enough to cover living expenses which will put you in a low tax bracket making your Thai tax negligible.

[@scottfree993]

@@morrillT-gd8hs and of course, if possible, also the money you send through send through swift should ideally be from what you already had before 2024, so any money earned from 2024 should be placed in a different account and spent everywhere except Thailand 🙂

[@Ulrich-y4b]

the problem will be the bureaucracy; forms, receipts etc. are all in Thai; this has to be translated and will cost a lot

[@morrillT-gd8hs]

@@Ulrich-y4b I'm sure they will have English forms for the farang. I agree with you though. It's really not worth the hassle. I will be traveling around, a few months in each country. You can stay up to 3 years in the Philippines on a tourist visa if you're American!

[@les8518]

Nothing has happened yet. And it might not happen.

[@offshoreinasia]

Fingers crossed...

[@gregpowell1962]

It is already law. 01/01/24

[@martinzacek3503]

If you have family in Thailand, just make sure all you send over are "gifts" to them (20Mill THB per person/ year) ;-)

[@BoninBrighton]

An extra Thai liability for example pre tax £3000 pension a month (assuming 20% was paid in the UK over the £12,500 annual tax free amount) might be an extra 10%? Is the extra on the original £3000 or the post tax ££ that enters Thailand though?

[@offshoreinasia]

Hi Bonin, we offer consultations if you'd like to work through your tax situation in more detail. You can book here if you're interested: offshoreinasia.com/book-a-call/

[@BoninBrighton]

@@offshoreinasia I think until the laws actually change consultations are purely speculative?

[@ShoelessNomadThailand]

too much scare mongering

[@Ride_on54]

What makes me laugh about this law is you get a retirement visa and your not allowed to work but if you live their over 180 days you become a tax resident Lol how does that work 🤷‍♂️ it doesn’t even make sense your retired but they want to tax you and your not even working sounds like a BS law to me

[@5150TJT]

You never been to a hospital in Thailand ? Why are Aussies given a Thai health card. Part of the free trade agreement.

[@natfash6026]

i never got one!

[@Ulrich-y4b]

really ?

[@5150TJT]

@@Ulrich-y4b went to a Hospital in Chiang Mai, gave my ID got a Thai photo health care card. Was checked by a nurse for height/weight/ blood pressure before even seeing a Doctor. All Doctors spoke perfect English.. Hospital was as modern and well equiped as our hospitals in Perth.

[@gregpowell1962]

@@5150TJT First I heard about this. Little peeved I have left.

[@Sammyli99]

this is a "LEAD GENERATION FUNNEL" right? I got it.

[@offshoreinasia]

We are running a business, yes. But we also try to provide 'free' value along the way.

[@BarentSpringsted]

I am a retired American residing in TH for over 30 years. I obtained a "Permanent Resident Permit" some 20 years ago. Will I be effected by this new taxation regulation. My ONLY income is funds that I periodically remit to my Thai bank account in Thailand.

[@offshoreinasia]

It will depend what the source of the funds was, when it was earned, when it was remitted and the double tax agreement between America and Thailand. We can look at this for you if you wish: offshoreinasia.com/contact/

[@sky5jump]

Easier to leave, this will hurt Thailand just like Colombia. Six months and gone and zero investment in any real estate. ​@@offshoreinasia

[@goodphone156]

You have fully right

[@wm3138]

Leave!

[@gregpowell1962]

have

[@Swenser]

The trick is to pyramid borrow. One lender pays off the next. Live in debt baby. 😮

[@adamhend3211]

They are mostly targeting rich Thais with money earnt from assets overseas. The double tax treaties won't affect foreigners from many western countries. There is a very good video by an American accounting firm in Pattaya.

[@brucekellam5203]

Can you post the name of the firm, I would like to see the video, thx.

[@adamhend3211]

@@brucekellam5203 I will try to find it for you.

[@gregpowell1962]

It is the tax returns in two countries that bother me. I already dread doing my Australian Tax. Can not imagine it being easier in Thailand.

[@raypeter7332]

Psy taxes on retirement income? Well,psy tax IF THEY GIVE YOU RESIDENTSHIP AND GET FREE FROM TAXES IN YOURS HOMECOUNTRY!

[@rob.7597]

Is it 179 days per year or in 1 go???

[@PaulBengtsson]

per year

[@daveinthailand]

Im only going to get a basic pension from UK in 2025 no other income just 10k per year Will i need to pay tax on this. Does the UK tax my pension Also woried about Crypto taxes Cannot find a English-speaking accountant in Buriram

[@offshoreinasia]

Hi Dave, we have English speaking accountants in Bangkok if you ever make it down that way. Drop us a message if you want to organise a meeting (in person or online): offshoreinasia.com/contact/

[@carlobaldassarre76]

Australian retirement pension is not taxed after the age of 65 years old , i have payed my taxes over the 40 years i have worked, now i must pay tax on my pension once i have resided more than 180 days in thailand .... stay 179 days then go for 1 day an come back ,absolute madness...

[@SvirepiyBambr-xw8rw]

180 days during the tax year. It means that if you leave Thailand and the return several days later it will not help because they count the total amount you stay in Thailand during the tax year.

[@Berri7]

Pay tax own land

[@ericdelevinquiere9902]

Looks like Thailand doesn’t really care, times are changing, tourism is probably not the long term goal there, I completely understand that and it’s part of the transition to a developed country with industrialization etc…

[@JVAN073]

whahahahahaha sure. The way to a developed country...is that what you see when you look around. ? LOL. Hilarious. It's the way to poverty again....No sane person will invest in this dump and none of the plans for the future work or get executed. I'v been here so long. It's still a backward country only too expensive now.. No development at all....What a laugh.

[@cornelisverhoef9282]

You obviously don't live here and have no idea what clowns are running this country.

[@peterh0862]

What about all the Ex-Pats that pay their Thai GF or wife a monthly salary? Does this then become a tax deduction? Or will the Thai Revenue Department then chase them up to pay tax? This has been an il-conceived idea !!!

[@gregpowell1962]

That's an interesting question.

[@w3s77]

Benefits to Thailand: Increased tax revenues, reduce inflation for working class Thai people, reduce unpaid medical bills, increase employment in tax prepares and lawyers (higher skilled professions as Thailand is trying to increase the skill-level of the population). This will be a huge positive for Thailand and working class Thai people.

[@offshoreinasia]

All fair points. Thanks for sharing.

[@SvirepiyBambr-xw8rw]

All this is true only if expats decide to stay and pay the foreign income tax, hire tax accountants etc. If they decide to leave Thailand then: - The construction industry in the resort areas will get hurt badly, many expats will try to sell their condos and very few will be willing to buy. - Expats will spend much less money in Thailand. Bye-bye "increased tax revenues"! - Expats will stop buying a medical insurance. Bye-bye more "increased tax revenues"! - Expats will support women and their families in other countries. The poor sick water buffalo will get no treatment 😭

[@BasherBrown]

Pay it if you want to life there

[@drphilgee6430]

I already pay tax in my country...I Won't be paying twice

[@robertstrutt5468]

nobody speaks or writes thai , how do they police it , if retired and on a pension , no change !

[@nuovovideo]

If I ll be resident from 2026, I have to pay the gain from that years or from 2024 up?

[@kyufweqw]

no

[@gregpowell1962]

I am sure it depends on who you talk to I don't think the Thai tax department knows.. That's why I left.

[@robertstrutt5468]

absolute bullshit !