What are the tax liabilities for expats living in Thailand with assets in local banks?

Guz Tolput You tell me.

Christer Bau tax rates in Norway is often 55% on high salaries/pensions, by optimisation of what you tax in Norway and what you bring for taxation in Thailand, you get 0% up to a certain amount in Norway, and max tax rate in Thailand is 35 %..I used KPMG to do the work for me, and I belive everyone from my country living here do the same.

PeacefulTangerine7544 / From what I can read the origin of the money is what they matters for taxing?

Salary, pension and ”New” money can be taxed. Savings can not.

Is this not correct?

I have transfered alot the last couple of years for investments, but never even thought it could be taxed unless the origin was salary or pension.

Allan Rawai / Taxing savings???

Because I have investigated all this before AI existed, but after that I have tested how good answers AI give and how well it understand it all. ChatGPT, Grok is the ones I have tested out and they are very good. In a few issues where they disagree about some detail I let them argue with each other to come to a conclusion. I haven't tested Gemini that much but my impression is that it also is very good, up to par with tax experts.

Richard Gordon Julius yeah simple, until you go to the tax office and they tell you not to because you already paid tax at source...

Ron Manso country origin of the income

Paul Anthony McDermott have you had much dealings with HMRC? 😉

John Robert fuck you bell 🛎️ end I live here you stay in the USA 🇺🇸

John Robert 555 yes I do you 🛎️ end lived in the kingdom 3 years so you pipe down ,,,

James isn't being a dick, you are.

Penny Nave Along with my response, what is the OP’s question?

Penny Nave So Tax Advice is given here? Didn’t know that.

Roger Lorton You don't have to pay anything but you still need to have a TIN and file if you spend more than 180 days in the Country in the year. The tax revenue offices in the larger cities are more aware of the rules, smaller more remote offices out in the country aren't as aware or don't care so much. Anyone that lives here brings in more than the minimum assessable amount, but for most it is exempt from double taxation.

Ingvar Bergh not at all

Ron Manso yeh but your pocket will be lighter

Guz Tolput you are.

I am covering 97% of cases with a broad sweep. You seem a sharp guy- more than capable of looking after yourself.

My big point is that if you live in Thailand and there is no question about residency, then get an expert because residency and potential liability may very well equate to 0 liability for tax.

You are buying expertise and peace of mind. Tax compliance will be next big issue. However, I am guessing the issues with nominees and general bad behavior will take some t in me to resolve (mostly seems sensible to me).

There is going to be a downturn in both tourism and immigration 2-5 years. This pause may very well give the Government time to build some firm foundations going forward.

Paul Anthony McDermott

That’s taxable income / investments

You didn’t read my reply

@James *********

so allow me to post what I wrote prior to your rant... 👇

Now please factually rebutt anything I said here... You are clueless..

Taxed at source in my comment addresses what you said

So so me what is scaremongering❓

You clearly have no idea what you are ranting about do you Mr shouty..

👇👇👇

@James *********

Yes you can stop lying...even holding a, saving account is subject to tax on the interest and many people on retirement visas have tax numbers for that exact purpose... So please stop lying

OK so you pay at source so what ..❓

You are still tax resident after 180 days and still are required to submit a tax return and claim that income as a tax credit on your tax return

Failure to submit a tax return you are subject to fines and investigation

And it's. DTA not a DTT get you acronyms correct at least son 🤦

And no the UK /DTA doesn't exempt pensions anything except civil servant pensions

Clearly you don't understand anything about multiple tax jurisdiction do you ❓ .. 🤦

I can cite the tax code if you like.. ❓🤦

And if you don't pay at source and remit that income to Thailand you are likely liable for Thai tax exactly as I stated 🤦

Not an accountant champ just someone who understands how multiple jurisdiction tax works and how it's viewed having worked under them for most of my career

I work because I choose too princess.

And why are you bringing children into this, are kids on your mind all the time 🤔 ❓

I guess my earlier remarks were correct

Racism 😂 ❓victimhood too much ❓

I am White and from the UK the same as you...

You complete and utter melt.. Where is the racism 🤦

You whole post is victimhood laden misinformation, and blatant lies...

Paul Anthony McDermott you can’t get a tax no on a retirement visa your clueless , I pay my taxes in my home country we have DTT with Thailand 🇹🇭 so you do what you want I’ll do what i want and know what I have to do and what I don’t have to do , more scaremongering from Accountant’s to line there own pockets ,,, I’ll pass, I’m not the guy who still needs to work like you your the child not me so jog on with your racism.

@James *********

huh??