New Tax laws from January 2024

@martinoo2002

Thank you for your reply.  I am 60 years of age so assume I can qualify for a retirement visa.

Once again, thank you for your reply.

Regards

Simon

A bit strange / fun thing happened yesterday at my Immigration office.

When all the paper work was done the girl says:

No need to worried about new Tax law, People on retirement Extension (Not a Visa) dont have to go to Thai Tax office.

I say thanks and smile.

Now i never worried about it, As i knew about this before moving to Thailand, That i dont have to pay Tax in Thailand of my pension.

Not sure why she say it, Or if they tell every foreigner doing retirement Extension.

And i am not saying this is 100% true, Facts, Only sharing it on here.

I have being told by a friend of my wife family that work with Tax.

That i need to file a Thai tax return to invoke my country's DTA.

So that in the system.

So i am going to find that out in person Jan/Feb 2025 when i going to my Thai Tax Office to check it out.

Kindly.

   


I have being told by a friend of my wife family that work with Tax.
That i need to file a Thai tax return to invoke my country's DTA.
So that in the system.

   

    -@Never done that

Yes, that is an option when source taxes are higher than Thai tax rates

concerning the taxation of pensions. and following a meeting at the French Embassy, ​​the main manager of the tax office in Bangkok challenged the non-taxation of Pensions despite the Double Taxation Agreement. (This meeting was also by videoconference from the tax service in Paris) and with and Anbasade De. France In Bangkok.. the manager didn't want to hear anything and postponed it. See you later. (without wanting to change my mind.) but above all wanted not to lose face.

Because the Thai government has not given a decree about foreign taxed pensions.

That is why he hesitates to give an answer.  Your ambassade and French connection should have known that.

But using common sense of the Thai government would double tax with a DTA in place it would be a blatant disregard and not a very smart decision for existing and future agreements with its main trade partners. Agreements at this high level are made to be respected.

I agree with you. But don't forget that Thailand is a sovereign country and they will do what they want. and despite the firm stance. From Paris. (service, international.) (they simply kicked in.) Thailand assumes you pay and then you make a request to recover what you paid in your country!) my opinion is that all countries don't have much to do with their expatriates.. in short, manage, the Embassies will do nothing to help us and for the Thais you don't agree you can leave. we really don't represent much in Thailand.

@Nutsbul

It is a little simpler even.

When you have/want to submit a tax return form in Thailand they ask if you have paid tax over your income lf  so that amount is deductible and when there is a difference in favor of Thailand they will charge...

But the Thai progressive tax system is in most, if not all, cases lower than in western countries.

So again no reason to worry at all....unless you have a huge pension which is tax free in home country and if (read my earlier post on DTA)

All the info i give here is available on the web, if you want to check

Lots of talk around what will happen jan i just don't know. I hope towards end of the year everything clearer

A piece from the Bangkok Post

Expats in Thailand, meanwhile, have raised questions about tax treatment of pension income from past employment when that money is brought into Thailand.

If this money is taxed in their home country and that country is one of the 61 that have agreements with Thailand to prevent double taxation, in theory there should be no problem. But debates about interpretation of the law are ongoing.

Ms Kulya said that in practice, collection of tax on foreign income will depend on international cooperation and information exchange. Thailand is already a member of the tax information exchange group spearheaded by the Organisation for Economic Co-operation and Development (OECD).

Please credit and share this article with others using this link: https://www.bangkokpost.com/business/ge … the-works. View our policies at http://goo.gl/9HgTd and http://goo.gl/ou6Ip. © Bangkok Post PCL. All rights reserved.

@sowo they just proposed taxing all overseas income, even if not brought into Thailand, not yet passed.

I am thinking about leaving Thailand and moving maybe to the Philippines

    @sowo they just proposed taxing all overseas income, even if not brought into Thailand, not yet passed.
I am thinking about leaving Thailand and moving maybe to the Philippines
   

    -@Lorcis

Lorcis

Can you show us the link to your information source?? So everyone can read and confirm it