Thailand to amend tax on foreign income remittance
- Thread starter Mercury
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Just chipping in to FYI yall that you can gift 20M thb to your spouse tax free per year.
Just dont do it to this Ploy girl you met in Pattaya, go find yourself a nice northern girl 😉
Just dont do it to this Ploy girl you met in Pattaya, go find yourself a nice northern girl 😉
Wait, what? This article says they're going to change the rules such that foreign income remitted within the year it's earned (or the following year) will not be taxable?
We started with foreign income remitted within the calendar year it was earned being taxable, then foreign income remitted any time being taxable (pre-2024 income excluded), and now foreign income remitted within the year it was earned or the following year not being taxable?
I certainly didn't expect this; is it too good to be true?
😳
We started with foreign income remitted within the calendar year it was earned being taxable, then foreign income remitted any time being taxable (pre-2024 income excluded), and now foreign income remitted within the year it was earned or the following year not being taxable?
I certainly didn't expect this; is it too good to be true?
😳
'Under the new guidelines, Thais with foreign income will not be taxed if they remit that income in the year it was earned or the following year. For example, if︀ income is earned in 2025 and brought into Thailand in 2025 or 2026, it is︁ not subject to tax.
However, if the income is remitted after that period, normal tax︂ obligations apply.'
From what I understand; bring your money now and spend it here, we︃ wont tax you, but if you save it and bring it after, then we will︄ tax you?
'This condition is intended to expedite the repatriation of foreign income, potentially supporting︅ domestic investment, in line with government policy.'
Sounds like its lessgo time. Thailand has been︆ doing quite poorly in the tourism front lately, mainly because this is not the dirt︇ cheap place it once was imo.
The usual crowd is now in Vietnam for the︈ most part.
However, if the income is remitted after that period, normal tax︂ obligations apply.'
From what I understand; bring your money now and spend it here, we︃ wont tax you, but if you save it and bring it after, then we will︄ tax you?
'This condition is intended to expedite the repatriation of foreign income, potentially supporting︅ domestic investment, in line with government policy.'
Sounds like its lessgo time. Thailand has been︆ doing quite poorly in the tourism front lately, mainly because this is not the dirt︇ cheap place it once was imo.
The usual crowd is now in Vietnam for the︈ most part.
Let’s not speak too soon, but if this does indeed happen, it would mean that all assets accumulated / income earned up until 31/12/2023 would be tax-exempt if repatriated to Thailand. And any new income from 2025 (or 2026?) onwards could potentially be repatriated in the same year or the following one, without tax?
It sounds a bit too good to be true, but I’m on board if it actually goes through, of course.
It sounds a bit too good to be true, but I’m on board if it actually goes through, of course.
despite good on paper, the instability of legislation I believe generated a loss of credibility. People cannot plan their relocation based on rules changing so often. This is a problem very similar to what happens in many EU countries where you have changes monthly.
In truth its very easy really just come here and dont give a s**t. Never report, never pay, never nothing like fr nothing will ever happen to you.
Thailand is a place with a lot of rules and laws on paper but enforcement is negative at best
Thailand is a place with a lot of rules and laws on paper but enforcement is negative at best
In that sense, the rest of the world isn't much different. There are lots of other income types that if you don't report in Eastern-Europe nobody will care.
Problems usually only arise if an ex-girlfriend or a jealous neighbor decides to report you.
Thailand's tax residency was mainly useful if you needed papers while still holding significant assets in the West, so if authorities started asking questions, you could show them the︀ papers.
Problems usually only arise if an ex-girlfriend or a jealous neighbor decides to report you.
Thailand's tax residency was mainly useful if you needed papers while still holding significant assets in the West, so if authorities started asking questions, you could show them the︀ papers.
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