Tax on Foreign-sourced income remitted to Thailand

@Maxi Mari

Well I know the situations as you describe them exist, and mostly, if not all, from CW immigration and some from Nonthaburi.

You see the future a little dark, but there is nothing you state that could not become the new standard...

It is funny that one on hand they increase condo ownership foreigners to 75% and increase land leases to 50 years and on the other

hand they force non visa holders through all kind of hoops

I am not to worried to be honest but there is always the possibility that they make things more difficult.

On the map, I asked them can it be print of google maps?, NO, it has to be handdrawn

So we did and a few days later they called, were on their way, but got lost.

I asked them how can you get lost, is the map not clear????

They were using google maps.... hahahahahahaha

Right in the ass of their own stupidity.

@martinoo2002

No, I not see dark but I am living abroad since I was 2 month old with my parents and later when working myself I worked and lived detached abroad as supervised and buyer and know how they did for the tax payments since the 80s in many countries, but at that time was about people working in other country sent by the mothercompany, never about retired expats.

Sure I also don't fear cause I don't have an income, just savings but it's good to study the details to have ready the best answers to give and shut their mouth, instead to hope and be unprepared.

Well... this is quite a concern for me. I have just this week come back to Thailand on an o-visa based on retirement.

As many would know, you need to bring considerable sums of money in to set yourself up and hold 800,000 baht in the bank.

My funds are all from money saved over 42 of working for the airforce in New Zealand. All tax paid as earned.

Living costs will be funded from a small airforce pension and some interest on investment. This new regime could screw me before I've even got going.

@alffvdh

This is a link to DTA between NZ and Thai. You should not be worried.

Also the 800.000 thb is not given to  the Thai government, it is and remains ls yours

https://www.taxpolicy.ird.govt.nz/tax-treaties/thailand

@Maxi Mari

100% agreed.

I have been working abroad for 35+ years of which 20+ in Thailand as an expat and the past year as retiree in Thailand.

Taxes is always a concern and everywhere.

In Thailand I am not to worried the8r words will turn into actions.

It means a huge investment in knowledge and staff training to get some, if any,  return...  At the moment they are not able to act on local legislation in anything!!

My final tax return came back after 7 months , my son (working expat for EU multinational) his tax return for 2023 just this month.

It is all hands on deck for Revenue Department already...

@martinoo2002

Yep, I understand the 800k is mine in my bank. Thing that got me concerned was that it looks like they want to tax funds brought in after Jan 2024 which would make me liable for taxation on the larger amounts you need to bring in when setting up.

I am less worried about taxation on my lesser amounts I will be bringing in regularly over time for living expenses.

Thanks for your reply

Alf

@martinoo2002

I should add, I have been aware that the NZ government has a DTA with the Thai government. I was wondering about what kind of proof they would require that tax had been paid.

Well......  I have bank statements and IRD assessments I can show, so should be all good.

I'll wait and watch.

Thanks again.

Alf

@alffvdh

Hi. If you bring in funds for businesses or real estate these are exempt. You need to talk to your bank preferably in-person and explain the purpose of the funds brought in and the bank will treat and mark th3 funds as so

@alffvdh

You country/ revenue department dus not issue a annual statement over taxes due and paid??

Ask them

@martinoo2002

Okay. Well see how it goes.

@martinoo2002

Yes, I just received a tax statement for end of March.

All good. I must stop reading Bangkok Post articles just before turning in for the night😅

Started seeing boogey men in every corner.

It's early days for me moving over here, money flying out the door like never before. I need to learn to relax and go with the flow or I fear I will struggle here. I will work on it!

Thanks again for your replies!

Alf