Do I have to pay tax on the 800,000 baht transferred for my Thai O visa?

It’s not income it’s a transfer of savings which the government requires to prove you can afford to live. Why would you pay tax again ?

There is a need to start discussing taxation if you intend to or will become a tax resident in this fiscal year (183 days of more physically present in Thailand 1st Jan - 31st Dec 2024). If not by default or plan to manage not to there is no need to worry about tax. Next step is how black and white the new changes are … or just grey.

1st you said' couldn't be furthur from true '

Then you say' your statement is correct '

You're responding to the same statement !

What about bringing in money from tax free interest in the UK?

I think we're confusing apples with oranges here. First the 800k will earn interest in a savings deposit and be liable for WHT in thailand. That's is a percentage of the interest not the entire interest - no where near it. So the 800k will attract interest minus WHT which will still leave a positive Interest amount on your 800k which will accrue over time. So you 800k will never go down or be depleted by tax. Income tax is something completely different. If you pay income tax on your earnings abroad or pensions abroad you will not be subject to thai income taxes in thailand. In fact as foreign taxes are generally a larger portion percentage wise than of the thai tax rate you are safe from thai taxes. The whole reason thailand wants to introduce taxes on foreigners (but mostly directed at thais with offshore earnings) Is that thailand wants to be part of the OECD. Countries of the OECD don't want their citizens having a free ride on taxes everywhere. Someone somewhere is going to tax you.

NO !....only on income generated in Thailand.

I think the law needs rewording, as many think

pensions etc. will be taxed.

If the 800,000thb was never taxed in any country (income - not old already taxed savings) and you stay >180 days in Thailand the year you brought it in Thailand, yes you will have to pay thai tax on it.

"Taxpayers are classified into “resident” and “non-resident”. “Resident” means any person residing in Thailand for a period or periods aggregating more than 180 days in any tax (calendar) year. A resident of Thailand is liable to pay tax on income from sources in Thailand as well as on the portion of income from foreign sources that is brought into Thailand. A non-resident is, however, subject to tax only on income from sources in Thailand."

If the 800k is brought into country in the tax year before you become tax resident, (first year june onward), it would be totally tax free, as first tax return is not due for upto 18 months). If it is brought in the same year as becoming tax resident, then it is subject to tax. But depending on dta with your country, and when the money was initially earnt, it can usually be credited out or exempt (pre /23) and no or little tax owed once other allowances are considered. But you only pay tax after filing a return. Paying tax and owing tax are two different things.

Didn't we just do this?

The correct answer is it depends on your personal situation. What the funds are for is irrelevant. It is the source of the funds that is important as is your domicile. These effect how the Revenue Dept view the remittance in terms of whether they deem it as assessable income or not.

No is the answer ...any interest from bank amount is deducted at source

No you don't.

@Joe ******

"Do Retirees Pay Taxes in Thailand?

Not everyone who wants to retire in Thailand is required to pay taxes; only retirees who have income profits inside of Thailand are required to pay taxes. Applicants, who have an income from overseas profits will not be required to pay any taxes in Thailand."

I always say to seek professional advice from a tax accountant as your individual circumstances may be different.