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Thailand new change - world wide income at Thai tax levels to be taxed

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Our friend chat GPT saying :

New Tax Rules in Thailand‍ for Repatriated Money​

  1. Foreign Source Income: Starting in 2024, Thai tax residents will be⁠ taxed on foreign-sourced income repatriated to Thailand, even if this income was earned while they⁤ were non-residents.

  2. Definition of Tax Resident: A person is considered a tax resident⁣ if they stay in Thailand for at least 180 days a year. Tax residents are⁢ subject to tax on their worldwide income, including repatriated income.
  3. Dividends and Capital Gains: Dividends and capital gains from foreign sources repatriated to Thailand will be taxable. Income repatriated︀ during the same fiscal year it is earned is particularly targeted.
  4. Exemptions and Exclusions:
    • Savings prior to 2024: Funds saved before 2024 are not subject to tax if︁ repatriated to Thailand.
    • Gifts and Donations: Gifts or donations to family members, such as︂ a spouse or children, may be tax-exempt up to a certain limit (e.g., up to︃ 20 million THB per year).
  5. LTR (Long-Term Resident) Visa for Wealthy Citizens:
    • Holders of︄ this visa may benefit from preferential tax rates on certain types of income.
    • A fixed︅ rate may be applied to repatriated income, such as the mentioned $500,000.
 
So if‍ you have lets say US 1M$ dividend or capital gain, earned in 2025 oversea AND⁠ you spend 179days maximum in TH in 2025 = you can remit this 1M. in⁤ TH 100% tax free in 2025 ONLY ?
 
As per the law as it’s interpreted you only pay tax in Thailand if you‌ remit income -
And for this example dividends whilst being a tax resident which is‍ 180 days or more.

It’s really that simple.

So for example -
Larry owns shares⁠ in a company that operates in say the Seychelles - Larry doesn’t live hand to⁤ mouth and takes a multi year dividends payment every 5 years.

It’s 2026 and it’s⁣ his dividend year.

Larry is smart he knows if he remains in Thailand that year⁢ over 180 days in the tax year which is Jan 1 to Dec 31st then︀ Larry will be taken to the cleaners by the tax department if he takes that︁ dividends and remits it.

Larry is also smart because he knows Thailand doesn’t have world︂ wide taxation so Larry fucks off to Bali to be a beach bun for three︃ months, Larry gets his dividends and decides it’s time to enjoy the pleasures of HK︄ for a while, so Larry fucks off to HK, whilst Larry is in HK he︅ deposits his dividends into his Thai bank, it’s now running up to 6 months and︆ he thinks he’ll take the slow train to Thailand from KL so a short hop︇ to KL and slurping all my the chuga long train into Thailand after a 6︈ month and 1 week break.

Larry now has a tonne of money to spend on︉ hoes and not a dime owed to a tax man.

Larry is smart, think like︊ Larry and stop asking stupid questions.
 
Thanks for the clarification, but I don't consider it was a stupid question to‍ ask if Thailand can still consider INCOME earned FROM 2024, even if you are NOT⁠ tax resident there (in this particular 'income/dividend' year) and you remit it locally in Thailand,⁤ as a TAXABLE event.

From my side, it's a legitimate question, but okay.
 
@wellington got it correct here. chatgpt has a lot of wrong info.
Try it yourself @toums . Tell it "what you write is wrong. Please correct it" and it will write other︇ stuff.

well said.

overall the best approach in lovely︂ southeast asia which is a lawless area. 😉
 
I must have said it three four⁠ times - I thought he was being “difficult” now realize he was just clueless so⁤ should have approached differently
 
I thought they will start taxing worldwide income even if not remitted from 2025.‍
 
It was clarified in an update later the same day that‍ this was being discussed, and apparently promoted by the new head of the TRD. I⁠ think this would require actual legislation to be passed to become effective, so can't be⁤ done through sleight-of-hand like the previous change.

It could still happen, but you never know⁣ in Thailand; if it impacts on the interests of too many of the elite and⁢ a government tries to press ahead anyway, we could easily end up with yet another︀ coup.
 
Hasn’t entered law and again simple to overcome - if you‍ take multi year dividends in one year and pre-plan your travel away from Thailand for⁠ 180 days in that tax year
 
rumors at this point, with a big if thats gonna come‍ any time soon. Maybe a few years down the line (after all I wont deny⁠ the global trend in this exact direction in many parts of the world).
The local⁤ big dogs who don't wanna do / cant do what @wellington suggests (which is pretty⁣ easy to do for foreigners anyway) will have a say here .
 
An individual who is not tax resident in Thailand is only taxed on⁤ his Thai-sourced income (if any), it is as simple as that.
 
Best time to be in Thailand as a foreigner tbh; its like laws dont apply to‌ you (unless you decide to go hitting Thais, then you are effed)
 
They just announced that they gonna tax imports of‍ small items (aliexpress, etc.) not starting from 1000 thb as now, but from 1 THB⁠ already.
I can't even start to imagine the overtime for the custom guys.
It looks⁤ like they are more desperate than ever.

Welcome to Thailand, the new TAX HUB,
 
They did⁤ that a few weeks ago, i actually received a letter in the post with stamps⁣ on it with a face value of 150 baht, usually when you courier stuff you⁢ pay tax on the courier charge, so the question is, with this new change are︀ the morons gonna tax us on letters lol
 
so you mean if you get dividends, from your company to⁢ your name, and you invest them personally they are not getting taxed??? Strange 🙂

I am researching about︂ Malaysia, and I would like to apply. I'd extremely appreciate any further info. I'm not︃ into headaches, so if the bureuocracy starts, I'd prefer to move to beautiful Malaysia if︄ they give tax excemptions. Any info on this from the best expert @wellington ?? Thank︅ you so much!

I disagree with you. If Thailand implements new︇ rules & laws you have to respect (we all have to respect), obay or go.︈ I personally decided the third option (go). I am an admirer of Andrew Henderson and︉ "Go where you are treated best", so I already believe I am spending &have spent︊ a fortune in Thailand and whilst I'd like to relax, I always find something to︋ worry. So, better for my self just to move out and do everything by the︌ book and legally 10000%.

You are wrong, there is full wordlwide income tax in Phils today; and no tax️ exemptions, unless you know something that I don't know
 
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