What are the tax implications of remitted income in Thailand and can a border run reset my DTV visa stay?

@David *****

the bit you are missing is that its completely possible to remit income to Thailand but not spend it. That money can be liable to thai tax even if you don't spend it

@Pete ******

You are just wrong, DTV holders are not something different for tax law. For money you bring which you did not already have at 1-1-2024 it does not make any difference if you put it in a savings account before you transfer this. How do you think Thailand will make any difference in money you keep outside Thailand? Savings is just money that was income before, and as long as it was income after 1-1-2024 they see it as taxable, regardless in which year you bring it in.

@Luit ****************

The date /2024 is irrelevant to anyone who was not already tax resident. The relevant date for those not tax resident at the time of the announcement is the 1st of Jan in the year they become tax resident. Your failure to understand this simple concept leads you to make false statements. Unless a DTV holder was already a tax resident the date /2024 is irrelevant as the DTV was not available prior to 15th July 2024 meaning no holder would have been tax resident in 2024 and would not therefore have been required required to file taxes.

@David *****

As soon as you bring it in in any way it is taxable, no difference in spending immediately or keeping it in your wallet as cash or putting it on a Thai bank account.

If you want to prevent money you bring in as taxable you can choose to bring it in in a year you are not tax resident and use it later.

@David *****

‘any money spent in Thailand’ is an accurate way of looking at it

@Todd ********

any “assessable income” spent in Thailand is an accurate way of looking at it.

@Pete ******

what would you perceive to be the difference. What monies do you think wouldn’t be assessable?

@Todd ********

savings, inheritance, credit and exempted income.

@Pete ******

all taxable if remitted into Thailand.

@Todd ********

false, they can all be remitted tax free. Your statement is just not credible. As an example of why you are wrong show me where in the Revenue Code it states that savings are taxable. Savings are not income. Only income is taxed. This is basic stuff.

@Pete ******

lol. You stating ‘your statement is just not credible’ makes me laugh. But maybe try that with the revenue dept.

Savings are not taxable for Thais. For foreigners who remit their savings into Thailand, it’s a very different story. And refer to the tax treaty with your nation for further clarity. This is basic stuff. Anyone who has filed international tax returns will understand. Good luck

@Todd ********

a nonsensical statement. Savings are not taxed on remittance to Thailand. That is just fact. Please prove me wrong with evidence. You can’t because guess what, savings are not taxable on remittance.

@Pete ******

you are the one banking on it lol. Prove it yourself, and look it up. And then apply a little critical thinking in conjunction with the reading. The critical document is the tax treaty with your nation. Ur welcome

@Todd ********

so, no evidence, no facts and no data supporting your position. Your statements prove you are simply clueless when it comes to Thai tax law. Thailand does not tax remitted savings. Fact. Personal Income Tax (clue is in the name) is charged to income, NOT savings. Savings are NOT income. This really is basic stuff.

@Pete ******

🤣🤣Can you please point me in the direction of your own 'evidence, facts and supporting data'? Sometimes people have no self awareness whatsoever. FACT you are not that bright a fella. But i doubt that's a secret even to you. Again -refer to your national tax treaty with Thailand. I know precisely what mine says. And if you don't have one, all remittances into thailand are taxable.

@Todd ********

your intellect is demonstrated by your comments. Please show where any tax treaty allows the taxation of savings. You are just spouting nonsense.

@Pete ******

Maybe you should just try to define what are savings in combination with remitted money.

From the view of Thailand savings would mean money you already paid tax for in Thailand.

From the view of the tax office of your home country it might be money you already paid tax for in your home country, and in some countries that means you don't have to pay tax on it anymore.

Unfortunately in Netherlands I have to pay tax also on savings...

So your statement that the fact savings are not taxed is basics, just is not true for all countries.

What exactly happens with savings when brought in from outside Thailand, depends on the DTA of your country with Thailand.

But in case there are no rules about this in the DTA, for Thailand any money brought in from outside is just taxable when it was not already in your possesision on 1-1-2024

Money you bring in to Thailand are not savings anymore on that moment, and for Thailand it were never savings.

When you received the money in your home country it was income, you paid tax for it and the part you did not spend are from that moment on savings from the view of your home country.

@Luit ****************

just nonsense. To repeat, savings are NOT income and are NOT taxable on remittance to Thailand. The date /2024 is irrelevant to DTV holders. The important date is the 1st of January in the year they become tax resident. Income earned before that date are classed as savings. Your definition of savings is incorrect. Your understanding of the Dutch DTA is also incorrect. Nowhere in the DTA does it refer to tax on savings. Savings are NOT income, only income is subject to income tax (clue in the name). Savings is NOT money you already paid tax on. Savings is money in the bank prior to the 1st Jan in the year you become tax resident.

@Pete ******

Do you believe the nonsense you tell yourself? I did not see any definition from you what are "savings" As long as you fail to do that, I just take your remarks for what they are worth in my opinion, zero

@Luit ****************

Savings are funds in the bank prior to the 1st January in the year you become tax resident. I have already stated this, can you not read? Savings are not income, only income is subject to income tax.

@David *****

it’s defined as funds “brought into” Thailand either physically or electronically.

@David *****

remitted is a very simple concept. It simply means any money you bring in to Thailand in any way whatsoever. So if you withdraw money from an ATM, if you spend on a card, if you ask a friend to bring you cash from some stash you have, whatever. Its not the spending that makes it liable to thai tax, its the bringing in.

@David *****

any funds brought into Thailand either physically or electronically are classed as being remitted.