Worldwide Taxation Is Coming to Thailand

[@Berri7]

Pretty outrageous to have to pay tax to a country where you cannot own anything and foreigners with Thai families have absolutely no security.

[@brahimfightdesign]

Exactly it makes no sense. No social security, no residency and no healthcare.

[@kdjeffery]

That's disappointing, the tax friendly options in Asia are becoming fewer each year.

[@crazyg74]

agree! I'm a newbie who doesn't even earn that much any more, but I really wanted to 'game it' a bit, but it seems almost impossible....

[@matthewnirenberg]

Honestly getting sick of all these places becoming "entitled and greedy" going "tax, tax, tax". 0% PIT or nothing. We need more places with 0% PIT. ALL taxation is THEFT / EXTORTION.

[@thunder881]

@@matthewnirenberg go to Bahrein

[@ericyuan9718]

Good luck with that. Maybe you should spend some time figuring out how to use Tornado Cash.

[@thomasridenour277]

When it comes-I will go. Pure and simple. I have been here too long as it is. This will bite the greedy Thai's in the butt.

[@wengelder9256]

Many countries do exactly the same . And the changes are in the first place to rich Thai who now massively escape taxation . Nobody cares about your little pension .

[@crazyg74]

where do think you will go?

[@jejudo3000]

Boy not a single Thai care about you. You can leave with your entitlement now

[@keninchicago]

​@@crazyg74 Da Nang, Vietnam / BGC Manila, Philippines/ Kuala Lumpur, Malaysia, Siem Reap, Cambodia, Ubud, Bali, Indonesia

[@jeeefthegreat7555]

don't need to let us know, just go

[@herbertvonsauerkrautunterh2513]

What the hell is world wide taxation? Tax is theft as we don't benefit from governments taking what is not theirs. My wife is thai and we had planned to retire early there a we can afford that but if they want more tax from our already after tax income then Thailand will be off the books, even as a holiday destination.

[@qartheros]

It will be years before this comes in. They haven't even figured out how they're going to enforce the last changes yet. If it does happen, and it's a big if. This would seriously screw over a lot of elite Thais who have offshore wealth (many of whom seem to be in government). The recent changes to enforce taxation on remitted income were fair. I don't see why ferangs feel so entitled that they should pay no tax at all when they live here permanently. Just because you rent an expensive villa from another rich person who doesn't pay tax either, doesn't mean you're making any special contribution to society.

[@jeeefthegreat7555]

"Farangs" is some derogatory slang. If you're not Thai, don't use it.

[@ExpatriatePaul]

@@jeeefthegreat7555 Incorrect.

[@sergeboudreault1627]

Thanks but no thanks. That's the reason why we are out of Thailand within a few months and moving to South American.

[@albertinsinger7443]

Thailand at 35% top tax rate , does not have a competitive tax rate. Even though Thailand wants wealthy foreigners. They are basically not encouraging wealthy foreigners to settle in Thailand both with their tax system as well as their crazy visa system . The visa system is simply a big No No. it does not give for life visa’s ,it does not let people work. The visa rules seem to change every year to some other undesirable visa system, 90 day reporting is like you are reporting for parol. Thailand simply is now not a country to spend more than 2 weeks Holliday in.

[@crazyg74]

1:13 "may"...

[@gordon.Jacko1055]

What qualifications have you got to make these statements? 🤔

[@brp361]

Malaysia and Thailand are done. Hong Kong and Singapore are the only true "tax havens" in Asia but too expensive and not retirement friendly.

[@liquid_metal]

I hope you see the irony of "tax haven... but too expensive". You pay one way or another...

[@MrAmhara]

Not bad for rich people. I’m not a hater but it’s a fact. The Offshore industry favors wealthy people.

[@dexterspeights3484]

Hong Kong sucks because it's controlled by China, and Singapore is for high rollers only!

[@crazyg74]

Hong Kong is most definitely no longer a tax haven. Singapore seems better, but it's not worth it for a lot of folks.

[@Holyspace305]

@@crazyg74Hong Kong has lower taxes than pretty much all se Asia countries

[@thomashusted]

So somehow Thailand is going to track down income generated on the other side of the world in another country that is not even transferred into Thailand and then enforce tax collection on that income. Meanwhile they can’t even enforce the law to wear a motorbike helmet lol!

[@CreepyTrendMan]

Everything thing is online databases shared between relevant authorities. Attach it to visas and hey presto . Certainly a lot easier to implement than traffic rules.

[@Congtrihayankeomut]

Does Thailand have property tax for foreigners?

[@Bobafe77a]

It ain't going to happen. Tourism is one of the pillars of Thailand's economy.

[@qartheros]

What's it got to do with tourism?

[@keninchicago]

I think you give too much credit to the Thai government.

[@CreepyTrendMan]

@@keninchicago Good luck not giving them credit.

[@CreepyTrendMan]

It has absolutely nothing to do with tourism. Unless a tourist wants to stay longer than 183 Days.

[@sid35gb]

@@CreepyTrendManit doesn’t matter how long you stay you’ll only have the rights of a tourist.

[@GrahamHeyes-d3l]

I have retiree visa for Philippines, as yet Philippines does not tax foreigners who live there, hence I will be returning to Philippines and will be in Thailand less then 179 days, or they change their rules.

[@b4bmm]

No it’s not, no chance. Economy and property market is on its arse this would torpedo it to bits. Won’t happen.

[@CreepyTrendMan]

To be clear does this mean that if You earn money from a different country , say real estate gains, portfolio gains you will be taxed? Or is it only for a company you own ? Both are a terrible idea.

[@MrAmhara]

I believe income brought into the country ( Thailand) . Not income that stays outside of Thailand.

[@crazyg74]

if you're not a Thai tax resident, you need not worry. If you are, seek advice. For many expats, income is probably already taxed more than Thailand would want. for capital gains, that's another matter...

[@MieJones35598]

QUESTION: Canadian guy looking to create OffShoreCo in Anguilla with majority control/mgmt and activities in Anguilla owned by CanCo holding? Would appreciate your thoughts thank you!

[@KnightlyHouse]

unless there is an outstanding tax agreement with the country in which the money was earned and taxed and if you qualify as a tax resident.

[@KorathWright]

Bang! There it is!

[@guyclone2651]

looks like all the europeans are going to be leaving if that happens, the Americans not so sure since they are already taxed on their world wide $$$

[@crazyg74]

almost all people are ignorant of how tax works, even in their home country. Most Europeans are already taxed at a higher level than Thais. This means that no additional tax will be payable in Thailand, in the majority of cases. Learn about tax before spreading the fear. More importantly, everyone needs to either learn for themselves, or better still, get professional advice. Thailand is NOT a tax haven.

[@seppovarkoi4990]

if pay taxes so one must have healthcare services etc.as thais, without any own healthinsurance. If only pay and get nothing as it is now, then I leave. AND there are no new taxlaws to see what is going to come, the laws are same as before......

[@rondamon4408]

Tax is the worst kind of Cancer

[@thunder881]

Low amount of tax is ok. Maybe you're born rich and you can say that, but countries need public services for its citizens

[@DavidF.Lambert]

But for that you have property tax and consumer product tax. Income and Capital gains taxes is the problem.

[@CreepyTrendMan]

The new digital 10k baht wallet is going to cost trillions of baht . I would say it's highly likely the new tax will be pushed forward because of this.

[@ceramics1585]

So Thailand currently taxes all remitted income? If i send 10k to live off of in thailand i pay taxes on the 10k ?

[@CreepyTrendMan]

Yes.

[@Jay-yx2tj]

Depends on how the money is sourced. Inheritance, pensions, loans...not taxed. Also DTA's might apply

[@tinglestingles]

I've heard murmurings about Malaysia - similar nonsense.

[@hilmarnehus6257]

you know nothing, so why you make videos about nothing ??

[@JohnDoe-uk2iu]

Imo, ASEA will tax worldwide income because of CRS (Custom reporting standard). The world will follow eventualy. Enjoy while it last !

[@matthewnirenberg]

Its got nothing to do with CRS as CRS is solely reporting and has nothing to do with tax. This is 100% the OECD & WEF who think that the whole world should be high-tax because the OECD & WEF (and all their most senior employees) have diplomatic status and their most senior employees are 100% tax exempt. We need to encourage more places to be 0% PIT, charging instead CIT, GST/VAT & Import Duties.

[@crazyg74]

Common Reporting Standard. yes. They all already have access to all your data anyway, It's just a matter of if they can or will use it...

[@lashoes2207]

nooooooooo

[@thunder881]

Malaysia is better

[@brp361]

Thai baht also very high now.

[@MaximusByrne-ri4jf]

It will be connected to the digital thai batt All transactions will be on the Blockchain.... so tax will be automatically done globally

[@wengelder9256]

Total nonsense . Read about FATCA and CRS. That’s the background . Nothing to do with your nonsense .

[@sirvivor7835]

@@wengelder9256 The whole point of digital currency is tracking and taxing.

[@matthewnirenberg]

@@wengelder9256 It has nothing to do with CRS or FATCA - they're only reporting / data sharing. This is 100% OECD & WEF caused as they believe that the entire world should be very high tax.

[@PaulRLight]

batt?

[@BobDoe_69]

its over