The question of whether retirees in Thailand become tax residents after staying over 180 days is confirmed as true. Community members discuss the implications of tax residency, including the potential obligation to report worldwide income if one is considered a tax resident in Thailand. Many emphasize the importance of international tax treaties, as they can influence tax obligations based on one's nationality. The conversation highlights that while becoming a tax resident is a concern, many expats believe it doesn't significantly affect them. Links to further resources and legal advice are provided as additional context for understanding the complexities of Thai tax regulations.
NON-O RETIREMENT VISA RESOURCES / SERVICES
Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
Wrong, You can be tax resident in two countries. That is why there is generally a double tax agreement to decide who taxes you on various income sources. E.g. US citizens are always tax resident until they give up their citizenship, even if living OS for 20 years!
that's really easy. Let's say you pay 15% tax in the home country and the same income would be 25% tax in the host country, you pay 10,% tax in the host county. Too easy π€£
you will want to reference Germany Thailand tax treaty (I assuming you are German). That treaty is a bit more weighted to Germany than others. If you are consider a tax residenct of Germany and you have permanent home there with closer economic ties, then it does give you a skategoat from being a Thai tax resident.
Most treaties are not so lienent though, and I'd you don't have a permanent home there, then you would be still need to pay tax in Thailand. See the treaty that applies to you for more information.
. You dont have a clou whats it's all about. First off all the whole tax rule is not in progress now. The whole idea behind is that rich thai people would bring there money abroad back into Thailand to keep the thai baht strong. Look what happened in December? The thai baht became strong against foreign currency. Now it's dropping again. By the way I am not german but Dutch π
you will pay the tax differential amount in Thailand
Reply to
Will ************
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Will ************
There wonβt be an option before long, it is thought that when extending your visa you WILL get a Thai tax number and have to report worldwide income such as pensions, dividends, capital gains. Thailand has signed up to Common Reporting Standards meaning they are able to access your tax records and bank accounts abroad.
just renewed ( extended ) visa...no such thing exists. The extent with which Thailand can access your finances is that generated in Thailand. And confirm those funds from abroad to the extent required for visa, be it the nested or the monthly income from abroad.
Actually WILD speculation! The expats who this will probably affect the most will be the digital nomads who live in Thailand on a succession of tourist/ED visas. The effect on retirees (provided they're not dealing in crypto currency) is negligible. The vast majority won't even need tax file numbers
Totally correct. This is why pensions will not be affected. Pensions are paid in the same year, so they have ALWAYS been tax "assessable". Thai Treasury never bothered looking at them because the potential returns would be so low. They would need to spend millions on staff and software development in order to get back thousands. A total waste of money. But it's good popcorn material reading the comments from some people. The Voice isn't on tonight so I need entertainment! π
I definitely wouldn't put it past Thailand to spend millions to obtain thousands. But I don't think this is an area that was ever meant to be targeted.
They won't. Any investment in new developments will be spent chasing the Thai billionaires and then fighting them in court. They really have no interest in a relatively small number of expat retirees
There is no new Thai tax law. There is a clarification that closed a loophole that many Thais used to avoid paying taxes. The ONLY thing that changed is that income earned in a different year than the year it is sent to Thailand is now subject to tax. Nothing else has changed.
absolute nonsense. This is why Thailand has bilateral tax agreements with other countries.
Marvin *********
Dirk C. Wendtorf No. Because in the most cases no DTA is activated because the Thai revenue department do not want taxes if your are taxed in you homecountry. Also they could cause the DTA give them the right to tax some kinds of income. But they do not give exemption if you pay nothere taxes.