@Graham *****

exactly. After the 7 days you can only do a screenshot

lesson learned

@Barry *******

David is the only one who gave you the correct answer. All others are wrong

@Colin ******

the good thing is, I didn't earn much interest, it will be less than the tax free 150.000.- THB per calendar year.

@Danewitz ******

bad advice, why would you buy that useless insurance, just for being allowed to open a bank account?

. . and then, from a certain age on. there will be another tax exempt sum added to the 150.000.- THB which are tax exempt any way. Plus deductible are children and elderly care. However you would need a tax lawyer to do the declaration for you, as up to now, no English text exists!

@Tony *******

I saved the following listing to my computer:

Receive income inside or outside Thailand via:

Income from employment (wages, salaries, remuneration, etc.) assessable under Section 40 of the Revenue Code;

Income from business operations is assessable under Section 40.

Passive or property income (interest, dividends, rental income, goodwill, etc.) based on Article 41 paragraph 2 of the Revenue Code.

Thai citizens and foreigners who are permanent residents will be subject to income tax, if they earn annual income at the following rates:

0 to 150,000 baht (US$4,177) is exempt from income tax;

More than 150,000 baht (US$4,177) and up to 300,000 baht (US$8,354) are subject to a 5 percent tax rate;

More than 300,000 baht (US$8,354) and up to 500,000 baht (US$13,923) are subject to a 10 percent tax rate;

More than 500,000 baht (US$13,923) and up to 750,000 (US$20,884) are subject to a 15 percent tax rate;

More than 750,000 (US$20,884) and up to 1 million baht (US$27,846) are subject to a 20 percent tax rate;

More than 1 million baht (US$27,846) and up to 2 million baht (US$55,683) are subject to a 25 percent tax rate;

Over 2 million baht (US$55,683) and up to 5,000,000 baht (US$139,201) are subject to a 30 percent tax rate;

and

More than or more is subject to a 35 percent tax rate.

@Tony *******

I thought the first 150.000.- THB are tax free, not 120.000.- THB like you wrote. And agreed to the rest. If I prove the monies have been earned before 31.12.2023, I guess they are all classed as savings and not as income, and remain tax free

What is "income"?

Does "income" include any savings and cash deposits you have held before and which had been taxed already in your home country?

If I hold half a million US Dollars in assets from selling real estate in 2022. Is this classified as "income"?

The answer is "no" and I doubt I owe the Thai tax revenue anything if I bring these monies over to use them for my living expenses

You can bring in any overseas income you received prior to /2023 without any tax liability, these basically become savings from a Thai tax perspective. However I assume that you will be asked by the Thai Tax Revenue to prove it

The new measures only apply to income both received and remitted to Thailand after that date.

Income covers lots of things other than salaries, interest, dividends, pension, capital gains and so on.

So, from that date forward interest on your assets would be assessable for tax but the principal would not be.

The case was that any income earned in a different year would not have taxes due if it was remitted to Thailand in the following year or later. For retirees that basically meant their income wouldn't be taxed because it was retirement income from earnings long ago.

As of 2023 the policy has changed to tax income regardless of when it was earned once it is remitted to Thailand.

But as long as you already paid taxes on the income and your country has a dual taxation treaty with Thailand, you don't be double taxed.

This only applies if you are a tax resident of Thailand (180 days in the country)

How this will actually work in policy is unknown as 2024 is the first year this goes into effect meaning it won't come up until the beginning of 2025 during tax season.

@Neil ******

You said ya got a Non-Imm-O visa. Now it is up to us to guess if you mean you still are on a 90-days single entry Non-imm-O visa, or if you already are on the 1-year Extension of Stay.

For BOTH you can buy a "single re-entry permit"

Which in the first case would keep the 90-days stay permit alive,

and in the second case would keep the extension alive for its whole duration.

However, a single re-entry permit for 1000.- THB (1200.- THB at the airports) would only be valid for ONE re-entry into Thailand