@Steve *******

You think I was conned by avoiding millions of Baht in capital gains tax 😅

But yeah you will probably get away with that if its just remitted pension that's subject to DTA. On the other hand, its not really that hard to fill in :

- income

- tax credit

- Have documentation ready in case audit

- see the "zero tax owed" at the end.

I also wouldn't pay a tax advisor if that's all i had to worry about. I would just submit myself. (There are English guides released every year) And I agree its annoying and kinda pointless, but its their country, they write the laws. But its 30 minutes spent a year to avoid potential hassle and penalties in the future. Not to mention the fact that Banks are already starting to ask for tax information. Its nice to avoid funds getting frozen.

@Steve *******

Yes, Ive seen the online form/calc tool. Though obviously the 2024 one isn't available yet..... And the official documentation from RD does match up with the "cow-dung" as you so elegantly name it.

But you do you......



And the "cow-dung" spreaders have saved me a few million baht in future taxes by restructuring my finances. 🤷‍♂️

its your own responsibility to obtain tax ID from tax authorities and report. If you don’t and get audited; in the future it will sting. Max allowance is very low, i tink 80k baht for single unmarried. But tax is low compared to western countries. As i said, 1 million is less than 15% effective

How to get tax id is a quick google away

@David *******

Definitely, for most people its a non issue, especially for income that is already taxed at "home".

The only real change is people have to start submitting tax returns, but tax credits for most make it just annoying paperwork with no actual financial impact,

But for me personally talking to a tax consultant did save me millions of Baht in future tax owed by restructuring my assets. If your situation is "complicated", spending a few K baht on a tax advisor is great investment.

But you are right, if its just about bringing in pension income etc, its fairly straight forward,

Edit:

You dont even need to keep it in cash. Ive just been trough a round with tax advisor as my situation is complicated. The "trick" is to bring in the money THIS year if you plan to move to Thailand.

Cash or bank balance doesn't make a difference in terms of tax law. What matters is if you are tax resident or not while bringing in the money. I also believe 1 million is above the limit you can enter the country with *undeclared* cash legally, used to be 20k USD, now 10k USD.

There is so much unnecessary hysteria around the remittance tax, but its very important to prepare BEFORE becoming tax resident,

- Any money you remit into Thailand in a year you are NOT tax resident, is not subject to Thai remittance tax. If you are not spending more than 180 days in 2024, you can bring in as much as you like and that money will not be taxed. Only money you bring into Thailand in the calendar year you are tax resident is subject to remittance tax.

* If you only brought in money in a non tax resident year; You dont even have to file tax return.

You can bring in 5 million baht if you like to a Thai bank account while NOT tax resident. And live on it until it runs out. That money is exempt from tax. (But would be incredibly stupid due to loss of investments gains vs tax of bringing in say 1million a year)

AND remittance tax is not as much as you would think. A million baht without tax credit is effectively taxed under 15%. Remittance tax is calculated same as income tax. (From 5 million its gets expensive) Depending on tax treaty with your home country, in most cases the tax already paid on the money you bring in can be used as tax credit in Thailand.. If tax paid "at home: is more % than rate in Thailand > no effective tax in Thailand. But do check if there is double tax agreements,



- Capital gains tax:

This can be "reset" in the year before you are tax resident by liquidating/taking profit and buying back in. (If done outside Thailand). This was VERY beneficial for me, coming from a wealth tax country as liquidating doesn't generate taxes where I am moving from. But would not be beneficial if moving from a country where selling assets is a tax event,

- Dept/loans

Taking a loan in your home country and bringing this intro Thailand while Thai tax resident is NOT subject to Thai remittance tax,

- Any money that has been sitting on your bank account abroad from before December 2023 is also not subject to remittance tax is brought in, Regardless of what year bringing in.

There is a YouTube channel called "Thai Expat Tax" with allot of up to date good information,

Yea you can and should have tax id if you remit money into thailand that’s considered tax assessable

@Greg *******

i believe they are just talking about the auto gates for leaving.

Edit: I stand corrected

Used it multiple times yes, even a Visa exemption can use them from what i understand. Only if you need to buy re-entry stamp or you passport doesn’t have a chip you cannot 🤷🏻‍♂️

I had no flight booked, just gave dates

@Paul ******

definitively