Our valued sponsor

Thailand to amend tax on foreign income remittance

Basically if you are getting money from somewhere even an ATM it's accountable. I can see if you have multiple bases or layering it's doable but not everyone can do this unfortunately.

Read again, please , and make sure to distinguish between remitted MONEY and remitted INCOME.

If you are a tax resident in Thailand but have an existing net worth (principal, savings, etc.) that was accumulated before becoming tax resident, then this money can be remitted into Thailand tax-free, as it is NOT considered foreign income.

If, on the other hand, you didn’t have significant net worth prior to moving to Thailand and you're now living off your current income, then yes , the situation becomes more complicated.

However, even in that case, you can still choose to stay in Thailand for fewer than 180 days in a calendar year. This way, you are not considered a tax resident for that year, and you can remit funds (even for one or two years or more) without triggering taxation.

We’ve discussed these topics many times with @wellington , please double-check using the search function.

In any case, if Thailand confirms this new rule , where remitted income earned during the current year or the following one is tax-exempt , it would likely resolve 99% of the situations faced by ‘normal’ farangs living here.
 
Read again, please , and make sure to distinguish between remitted MONEY and remitted INCOME.

If you are a tax resident in Thailand but have an existing net worth (principal, savings, etc.) that was accumulated before becoming tax resident, then this money can be remitted into Thailand tax-free, as it is NOT considered foreign income.

If, on the other hand, you didn’t have significant net worth prior to moving to Thailand and you're now living off your current income, then yes , the situation becomes more complicated.

However, even in that case, you can still choose to stay in Thailand for fewer than 180 days in a calendar year. This way, you are not considered a tax resident for that year, and you can remit funds (even for one or two years or more) without triggering taxation.

We’ve discussed these topics many times with @wellington , please double-check using the search function.

In any case, if Thailand confirms this new rule , where remitted income earned during the current year or the following one is tax-exempt , it would likely resolve 99% of the situations faced by ‘normal’ farangs living here.
Most Farangs have considerable investment income coming in from outside Thailand so they would have to pay taxes. Therefore, many have left already or in process of moving. Remittance from savings before tax resident doesn't get included I know but passive income would be taxable.
 
Most Farangs have considerable investment income coming in from outside Thailand so they would have to pay taxes. Therefore, many have left already or in process of moving. Remittance from savings before tax resident doesn't get included I know but passive income would be taxable.

I'm sorry, but I'm done arguing with you. It's clear that you don't understand the basic distinctions between :

LOCAL INCOME / FOREIGN INCOME
REMITTED MONEY / REMITTED INCOME / OFFSHORE MONEY-INCOME NOT REMITTED

I believe I took the time to explain things clearly. Do your own research.
 
I'm sorry, but I'm done arguing with you. It's clear that you don't understand the basic distinctions between :

LOCAL INCOME / FOREIGN INCOME
REMITTED MONEY / REMITTED INCOME / OFFSHORE MONEY-INCOME NOT REMITTED

I believe I took the time to explain things clearly. Do your own research.
I am just trying to gather information not arguing. Maybe the accountant in Thailand i had talked to was incorrect . You maybe correct as you might have better information.
 
Thai accountants are far to be the most reliable source of information. Anyway, it ain't easy to keep the pace of constantly changing rules and laws.
Just keep in mind the most important: there is merely no tax enforcement in Thailand, and in any case always negotiable.
So, simple thing, if somebody getting income from rent of his apartment in other country, or working remotely for us company (getting payment on european bank) and so on and so on. And in Thailand he just withdrawal cash in ATM from his foreign card - he do not need to pay anything in Thai even if he is >180 days there (otherwise, if < 180, also)?