What are the implications of the proposed tax amendments for DTV holders in Thailand?

@Tore ********

Many expats are either exempt from paying taxes in their home country or benefit from certain tax exemptions.

For instance, Americans living full-time in Thailand can qualify for a foreign earned income exclusion of up to $126,000 against federal taxes. The significant shift now is that Thailand may start taxing that income directly, which could amount to a substantial figure, especially for those working remotely—sometimes exceeding 1 million THB annually.

Additionally, expats from countries that waive all tax obligations if they live abroad for a certain period may face even steeper costs, potentially amounting to several million THB per year.

Many have chosen Thailand as their home specificly because of the lack of taxation on worldwide income.

However, for expats from countries without such exemptions, the impact of Thailand’s tax policies might be minimal.

@Ryan *****

no they want a new tax law, thats the proposal

Thailand has deployed CRS which is common reporting standards so full visibility of all financial transactions - what they do with it is another matter, taxing remittances will be easy, but many will ignore until it’s linked to resident visa - worldwide income whole new ball game which is why it’s only “proposed” I guess - tax evasion gets harder as more countries fall in line…..which is the whole idea

Looks like the Thai Government would NEED the help of the governments from a lot of other countries that already have their hands full trying to govern and collect taxes in their own domains without assisting a foreign country a few hundred thousand of their citizens live in.

Wait, watch and observe!!!

Things move slowly in the corridors of Thai Government!

@Lucky *****

DTV has nothing to do with tourism