@Tony *******

This makes sense (though unfair to the taxpayer). And the first thing I’ve seen that explains it. Thanks.

@Leatrice ****************

It’s a good question, put that way (I said the same thing in another comment). In all the tax stuff I’ve read the past few months, those who talk about it dont explain this. It’s never brought up except to say “what you bring in will be taxed, including from a savings account.” Nothing I’ve read says “unless it was already taxed as income.” But I’m sure I haven’t seen everything. There might be something else out there….

@Mark *******

Yep. Mine are US gov pensions. Same here.

@Brad ******

Not the point, is it? If you steal an apple OR an egg, you may get caught later.

@John *********

I wonder if there is a provision for that on savings derived from income that was already taxed and not further taxable in one’s home country (except for the earnings on those savings). It’s not something I’ve seen yet.

This is obviously different within home countries where savings has already been taxed as income. And savings IN Thailand are likely not taxed if they’ve already been taxed as income in Thailand. But it looks like Thailand doesn’t make that distinction for foreign-earned and already-taxed income that become foreign savings. If you are bringing it in to Thailand from another country, they want to tax it.

(John, my comment was answering the replies to yours, it wasn’t meant specifically for you. You obviously already know)

@Erik ******

I wouldn’t presume to say every Thai tax rule is for everyone, and I didn’t. I did say that Thailand has double taxation provisions in place to prevent double taxation. And they do. Whether they apply to any individual or not is up to them to find out. I sure hope NOBODY takes any FB comment as the final word on ANY subject.

@Brad ******

Exactly. And I’d bet that 35-year visa overstay has been saying the same thing about getting a visa all of those 35 years…, until he just recently got arrested. No criticism, we all have our risk levels when deciding which laws to obey. Take your chances. But I think I might rather pay a little each year than take a chance of Thailand getting it together, and being subject to audit later. Seems like those kinds of things come in waves in Thailand. I wouldn’t want to get caught in one.

@John *********

Savings are derived from income. Whether they are income or not doesn’t matter. If they are accumulated before 1 January 2024, they are tax exempt. If they are accumulated 1 January 2024 and after, any amount you bring into Thailand from them is taxable.