A recent article from the Bangkok Post discusses new taxation rules affecting expats in Thailand. Community comments suggest skepticism about the article's accuracy, with some labeling it as 'fake news' and expressing concern about potential future requirements for tax documents during visa extensions. Discussions also include the historical context of tax document requests by immigration and the implications of globalization on tracking and taxation.
Stephen *********
Globalization programs. Tracked, chipped vaccinated and taxed.
Richard ********
Didn't ask for mine and I have just extended at Immigration
Saimo *******
In the future, when applying for a visa extension, the immigration office will ask for Thailand tax papers, I read. Forgot where
In the future, when applying for a visa extension, the immigration office will ask for Thailand tax papers, I read. Forgot where
John ********
ORIGINAL POSTER
And still the billionaires and multi National companies will get away with paying little or no tax. As usual the ordinary guy/girls will be taxed to the hilt.
this is completely incorrect. Most countries have a double tax treaty and each one is unique. But generally speaking the way it works is that you owe taxes in BOTH countries, but your foreign tax payment can be used as a tax credit to Thailand.
So for example if you sell some stock in the US and pay 10% capital gains taxes, the Thai tax on that might be 30% (the brackets are much lower) at which point you would owe the difference, 20%, to Thailand.
Greg ***********
The New World man. Fully transparent down to the colour of the socks he wears π
I however doubt if Thailand can activate a tax revenue task force, for the one and only purpose to check the situation of every foreigner, including the knowledge for how many percent he was taxed in his home country. Thai Tax Revenue would need to get wise on taxation rules of HOW MANY countries? Don't you realize, that the massive bureaucratic effort might not be worth the outcome?
Many countries already tax "global income" and Thailand is the next in line to do this. They will get it done, if that's what they want to do. It's pretty straightforward. Might take a few years to get the bugs worked out but you can bet this is the direction the Thai government is going. They will tax your global income, they will automate the auditing of it, and they will tie it to your immigration status.
I'm just going wait for next year to see what happens. Perhaps I will owe some tax next year. If that's the case then next year I probably move with my Thai wife to Malaysia.
The tax deduction for a Thai wife is like 60,000 THB a year (if she doesn't work). And most of my income comes from capital gains, taxed on 0% in the US but taxed 20-30% in Thailand. So being married to a Thai national does basically nothing to help me.
Singapore or Malaysia is probably where we'll end up once this system gets fully implemented over the next few years
I just watched on thai news an interview of the Revenue Department director . She said exactly whatβs in the article mentioned. What is your source to call fake news ?