Thailand 0% tax
- Thread starter yngmind
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But it wouldn't matter if you told your foreign bank that you are living in Thailand, what matters is that you don't bring money into Thailand, at least that's what I understand...
So don't have a bank account in Thailand and just use your foreign debit/credit card to access your money and pay for things in Thailand.
Now I don't know if the Thai authorities have a way of making you pay︀ taxes on that money that you let's say withdraw from the ATM, that would be︁ considered as "bringing your foreign money into Thailand"?
That's not how︃ I see it, according to the new information published you'll have to pay taxes on︄ money remitted to Thailand, not if you leave that money abroad.
So don't have a bank account in Thailand and just use your foreign debit/credit card to access your money and pay for things in Thailand.
Now I don't know if the Thai authorities have a way of making you pay︀ taxes on that money that you let's say withdraw from the ATM, that would be︁ considered as "bringing your foreign money into Thailand"?
That's not how︃ I see it, according to the new information published you'll have to pay taxes on︄ money remitted to Thailand, not if you leave that money abroad.
Rest assured, you will be taxed on your worldwide income. There Is still time to publish clear guidance. But the new government needs revenue and wants to tackle inequality -> https://www.businesstimes.com.sg/in...tighten-tax-rules-overseas-income-aid-economy
Just move elsewhere and leave the worries behind.
Just move elsewhere and leave the worries behind.
You could 'conceivably' find a loop hole with a 'loan'.
You could also 'conceivably' utilise a corporate credit card for everything...
https://www.thaienquirer.com/50748/new-tax-regulations-raises-questions-and-concerns/
You could also 'conceivably' utilise a corporate credit card for everything...
https://www.thaienquirer.com/50748/new-tax-regulations-raises-questions-and-concerns/
You can't pre-plan a life if they don't give a consistent direction.
Ref Elite - crickets on that front.....
At least it's 180 days, so sunny season get to live in Thailand, and then bounce around indonesia/Malaysia/HK for the rest with trips to Europe for the summer (there).
But not ideal if you have young kids/children.
Speaking with a few people, this also impacts people bringing funds into buy real estate so that's gonna implode..
Ref Elite - crickets on that front.....
At least it's 180 days, so sunny season get to live in Thailand, and then bounce around indonesia/Malaysia/HK for the rest with trips to Europe for the summer (there).
But not ideal if you have young kids/children.
Speaking with a few people, this also impacts people bringing funds into buy real estate so that's gonna implode..
I'm non-resident British, so technically no tax in the UK unless i do business, have real estate etc in the UK, which i avoid, and also don't have sterling accounts or visit the UK.
Therefore it comes down to the 180/183 day tax rule.
Under Thai law they are loosing the 12 monthly tax harvesting system, and moving to the 180 day (or 183 day) tax rule system, so spend less than 180 days there, and spend the rest elsewhere and︀ the game continues.
Note thats on dividends etc not sure on Income, i don't get︁ that, as i get a dividends every so many years (5+) and live off that︂ for the proceeding years.
But the new process means 'money remitted' will be taxed, as︃ a elite visa holder, i'd drop the elite and go to visa exempt, and spend︄ less than 180 days in the country, thus not taxed for funds brought in.
Company likely being moved to Malaysia (Labuan) which is tax free for the company, myself would︅ have to pay tax if i take up the visa offering and live in Malaysia︆ (over or under a certain period of time unsure).
Otherwise perpetual traveller (again not ideal︇ with children) but most countries don't charge tax for dividends if its overseas (it would︈ be) and under 180 days residence (which it would be) worst case, Caymans, Dubai etc︉ and liquidate everything and live there.
I'm not enthusiastic about Dubai as its soul destroying,︊ but Thailand will have a higher tax than a lot of Western countries going forward︋ reading this.
Therefore it comes down to the 180/183 day tax rule.
Under Thai law they are loosing the 12 monthly tax harvesting system, and moving to the 180 day (or 183 day) tax rule system, so spend less than 180 days there, and spend the rest elsewhere and︀ the game continues.
Note thats on dividends etc not sure on Income, i don't get︁ that, as i get a dividends every so many years (5+) and live off that︂ for the proceeding years.
But the new process means 'money remitted' will be taxed, as︃ a elite visa holder, i'd drop the elite and go to visa exempt, and spend︄ less than 180 days in the country, thus not taxed for funds brought in.
Company likely being moved to Malaysia (Labuan) which is tax free for the company, myself would︅ have to pay tax if i take up the visa offering and live in Malaysia︆ (over or under a certain period of time unsure).
Otherwise perpetual traveller (again not ideal︇ with children) but most countries don't charge tax for dividends if its overseas (it would︈ be) and under 180 days residence (which it would be) worst case, Caymans, Dubai etc︉ and liquidate everything and live there.
I'm not enthusiastic about Dubai as its soul destroying,︊ but Thailand will have a higher tax than a lot of Western countries going forward︋ reading this.
Even the Italian lump sum tax would work out amazing in comparison to what i could end up paying in Thailand based on expectations in 2025-2028, chicken feed in comparison.
Yep, not just income, everything.
Socialism : Govt to tighten tax rules on overseas income to aid economy
Yep, not just income, everything.
Socialism : Govt to tighten tax rules on overseas income to aid economy
It's ridiculous to say the least.
Also summed up in the Bangkok post article, socialism... paying Thai's 10k THB each... its to pay for that.
Put into perspective, i'd hazard a guess this policy will rip the bottom out of the property market, consumer stables market, and so on, literally leading to Thailand going through financial chaos.
I know people living in Thailand spending 1-2m$ a year (Europeans, Old︀ money) they will exit, theres hundreds spending 500k-2m THB a month - they will exit...︁ then there's the average income and pension aged that will feel the squeeze.
Also consider︂ if you will, the sheer amount of wealth transfer from Russia, China, and Ukraine to︃ Thailand over the past two years, and how that will stop due to this taxation,︄ Russian's literally buying property they can truly never own, setting up businesses paying fair wages︅ to Thai's, that will all end.
UK, EU, US funds are obsolete compared to that︆ wealth influx... in-fact arguably from experience of observation, most Europeans/US are broke a*s beer bellied︇ sex-pats.
Also summed up in the Bangkok post article, socialism... paying Thai's 10k THB each... its to pay for that.
Put into perspective, i'd hazard a guess this policy will rip the bottom out of the property market, consumer stables market, and so on, literally leading to Thailand going through financial chaos.
I know people living in Thailand spending 1-2m$ a year (Europeans, Old︀ money) they will exit, theres hundreds spending 500k-2m THB a month - they will exit...︁ then there's the average income and pension aged that will feel the squeeze.
Also consider︂ if you will, the sheer amount of wealth transfer from Russia, China, and Ukraine to︃ Thailand over the past two years, and how that will stop due to this taxation,︄ Russian's literally buying property they can truly never own, setting up businesses paying fair wages︅ to Thai's, that will all end.
UK, EU, US funds are obsolete compared to that︆ wealth influx... in-fact arguably from experience of observation, most Europeans/US are broke a*s beer bellied︇ sex-pats.
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