What are the tax implications of the 800,000 baht requirement for a Thai retirement visa?

@Albert *******

nope, withholding tax on interest is liable from day one as it is domestic income, residency doesn’t come in to it.

@Bruce **********

same as me..

@Pete ******

Yes! I don’t like to say it.

Someone is asking a genuine question question.

Then a lot of misleading information is given.

@Pete ******

same same but different

@Thomas *******

ok

@John ***

ok,so you have to open Thai bank account.Thanks

@Gary *******

Only comment on the subject and if you know something about it.

Not ramble.

@Gary *******

if you don’t know what you are talking about don’t post nonsense.

@Mickey *******

Good luck with the thai tax office understanding that, I mean it's not like there are over 200 countries in the world with differing DTA's

@Jordan ****

name another country where you could get away with that? A country that only taxes you on purchases.....got my popcorn ready

@Jordan ****

there is a rule - if you are here more then 180 days you are a taxed resident! it doesn't mean you will have a liability - that depends on many factors - but that is the rule in thailand. If you do not like it then you shouldn't stay here for that long. simple really

@Gary *******

fraudulently obtaining a visa is not good advice.

@Elías *******

Not necessarily, but it will be up to you to demonstrate when the money was earned. Savings are not taxable

@Nick ******

incorrect - that’s the loophole they closed - it is any income prior to 1.1.24 that can be shown in place already

@Nick ******

This is where talking to a tax attorney makes sense.

@John ***

a tax accountant

@John ***

ok there's many people here. Ben of

@Integrity ******

has done many utubes so make contact with him.

Look at his utubes too

@Jim *******

Correct, if there is a double tax agreement in place

@Todd ********

that's wrong and a pretty wild statement to make, without even considering the exempt income remittances which requires no filing obligations or tax to pay there is also, Article 4 paragraph 3 in the Aus-Thai DTA which states;

"3. Where by reason of the preceding provisions, an individual is a

resident of both Contracting States, the status of the person shall be determined in accordance with the following rules, applied in the order in which they are set out.

(a) the person shall be deemed to be & resident solely of the

Contracting State in ₩hich a permanent home is available to the person;

(b) if a permanent home is available to the person in both Contracting states

or in neither of them, the person shall

be deemed to be a resident solely of the Contracting State in ₩hich the person has an habitual abode;

(c) if the person has a habitual abode in both Contracting States, or in neither of them, the person shall be deemed to be a resident solely of the Contracting state with which the

person's personal and economic relations are the closer."

@Todd ********

Depends on what monies we are talking about, social security from the states then no,

Superannuation that is already taxed in Australia, then no. If you work in a tax free country then yes,

It's not a one glove fits all,

When I spoke with the tax office in khonkean this was explained to me,

In my case Australian, my super is taxed,

So no tax will be paid here,

However they couldn't tell me yes or no on the pension in Australia as it doesn't come under social security,

@John ***

don't believe all that hype. Thailand trusts you paid income tax on any money you bring into Thailand, until you prove them wrong, especially concerning retirement. All Thailand cares about is that there is a paper trail of all the money you bring here.

@Roger *******

there is such thing as 'abusing the system'. There is using the system as it is set up. And in spite of some oddly misplaced angst from a few regular commenters here, agents are thriving.

@Roger *******

no shit Sherlock 🕵️

use your own money then xx

@Igor ********

the very first agent I contacted a few months ago offered to put up the funds. I didn’t even bring up the subject

@Igor ********

??? They dis to me .. even all bank statments.. let me know if need contacts..

@Chris *********

😂😂😂 great comeback.