Thai Tax Policy And "Annually-Renewable" Visas?

#Thailand #ThailandTax #ThailandImmigration
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[@jameswest3275]

they made it clear. Jan. 01 2024 was the start. you are on the hook from that date forward if they go ahead with whatever they decide. I cancelled my condo and vehicle purchase and making big plans to leave next year for 6 months to avoid all of this. Condo sales and home sales down 18% since the start of 2024.

[@darcy8104]

With all this talk of being taxed in thailand i would be interested in seeing if there has been a decrease in applications for retirement visas.

[@philippeousaou5727]

Benjamin Thank you for staying on top of the potential Thai taxation. The Thai talk about money transfers or revenue from abroad, meaning outside Thailand. The Convention Article 20 Paragraphs 1 and 2 define that a government pension, based on previous employment is taxable only in the country where the pension is paid. Paragraph 4 defines what an annuity and alimony including child support, are taxable in the original paying state. The Convention differentiates these payments, mentioned above, from a standard money transfer. The Thai Tax Revenue Department by talking about taxation of foreign incomes has opened the door to a big box of candor.

[@user-wx3lo3eo5h]

I have reviewed the Taxation Convention too - seems that Article 4 - Residence - could be a key condition. How do you read this Article as most retirees in Thailand live in Thailand 180n days or more and have a "habitual abode" in Thailand, and may also have a home in the US, UK or other country where they are a citizen. But 2(c) might be the determining factor given Citizenship is US, UK or other non-Thai country. Hopefully, Article 20(2) will be the determining condition of tax related to Social Security and Pensions. As Mr. Hart is an American attorney it would be beneficial to hear his analysis of this tax treaty.

[@philippeousaou5727]

@@user-wx3lo3eo5h Article 19 paragraphs 2 b and c define what a permanent home is. In the case shown in Paragraph 2 c, having homes in both states is possible. 2c says your permanent residence is in the states you are a citizen of. In my case, it would be in the US where my legal permanent address is.

[@user-wx3lo3eo5h]

@@philippeousaou5727 Appreciate the good feedback. As I read in the IRS website, you can have dual tax residency status. US citizenship certainly is a factor for US tax residency - I am a US citizen as well. I recall reading somewhere that Thailand may be defining Thailand tax residency if a foreigner in Thailand exceeds a 180 day test living in Thailand. My bother is an IRS agent for some 30 years and concurred and said I should check with the Thai authorities if I am a Thai tax resident. My US CPA said if I do pay taxes in Thailand for my US income, any taxes paid in Thailand would be a credit in my US tax return. In my previous years working abroad in Asia, I did pay local taxes on my income while working in Asia, and I also qualified for the foreign earned income exclusion when filing taxes in the US. But now I am a newbie retired in Thailand - so have a degree of uncertainty concerning filing a return in Thailand. I have a friend who is US State Dept. (and US Embassy staff) retiree in Thailand and he as well has similar uncertainty re filing a return in Thailand.

[@whaleshrimp111]

We put off buying a new car due to the lack of information about the tax situation. Now we are looking at different countries to move to. Just imagine the paperwork that will be required to file in Thailand.

[@AmazingPhilippines1]

It appears a few countries, having suffered the economic pains of destroying their economies with travel lockdowns for 2+ years are now searching for more revenue. It could be enough to change the expat habits moving from one country to a new one without the added burden.

[@susanzimmerli5178]

what country would be better than Thailand ? In regards of freedom, safety and living costs? Only because they are taxfree?

[@yepthatsme170]

I am glad you clarified the assumption regarding new tax laws that might not happen. There are expat companies trawling social media basically scaring people into using their inflated services .

[@Patoxico]

That's Benjamin again clarifying and almost correcting information sloppily published in legacy media. Thanks Benjamin

[@APPA1]

More clarification, thank you, Ben.

[@susanzimmerli5178]

I thoght the tax law wouldn‘t change because this was always the law for decades, and they just want to close the loopholes, so this is not a change of the tax law at all. Am I wrong?

[@markfrain7381]

Wrong

[@susanzimmerli5178]

@@markfrain7381 can you explain why I‘m wrong?

[@user-sw2lv3zp6o]

Thanks.

[@ayebo15]

so from what we know atm is that If you stay in Thailand for 180 days or more & for example you Work remote for a company in your country, you will get a TaxID & will have to declare Tax in Thailand, but you will Not have to pay any Tax in Thailand, right? But you will still have to do the paperwork, right?

[@davidkiernan5901]

Put off buying a house, not sending i much money over tax exemp Social Security and planning my vacations out of the country to avoid sending money in country.

[@mattyboy3994]

Britain has HMRC

[@Diogenes515]

@mattyboy3994 - There used to be two departments, the Inland Revenue and HM Customs & Excise. They were merged into HM Revenue & Customs in 2005. The popular use of the term “the Revenue” survives among some people.

[@IsaanSlowLife]

QUESTION, if I hold an annual retirement visa and visit, let's say Laos every 90 days for my 90 day report, am I still consider a tax resident in Thailand?

[@brucemackenzie6026]

Yes you would. It's 180 days over a year not consecutively

[@IsaanSlowLife]

@@brucemackenzie6026 So it's the Visa you have and not the time spent out of Thailand while still retaining the annual Visa. I would have to get a new Visa before 180 days to be considered a non tax resident of Thailand?

[@dreadlord76]

It has nothing to do with the Visa. If you stay for a total of 180 days, no matter how, you become a tax resident.

[@brucemackenzie6026]

@@IsaanSlowLife No. It's the time spent in Thailand over a year. Regardless of how many times you leave and return. If it adds up to 180 days or more your a resident for tax purchase.

[@IsaanSlowLife]

Sorry, just sooooo much disinformation out there on this subject! I was made to believe that 180 consecutive days made a person a tax resident and thus breaking the 180 days 2 or 3 times per annual visa with no period having 180 or more would make you exempt from being a tax resident.