@Von **********

If you want to use fancy language then at least get it right. 🤣

Coop retard? Coup De’tah?

Coup D’état!

And there will not be any, as a coup d’état implies violence. She will just be sent off. No violence.

@Michael ******

I’m not ignoring that at all.

I’ve mentioned in various comments the fact that a creation of a tax paradise will cause diplomatic ruckus many times already, especially in relation to their wish to become full blown OECD members.

But it was irrelevant in my post here. If you’re interested in all the details you can find my opinion in the dedicated group on Facebook:

Thailand Tax rules for expats

@Brandon ***********

Actually getting more income tax is not the primary issue.

The economic problems increased due to income remaining abroad and being re-invested there rather than in Thailand.

Of course they would like to tax the expats, but the benefit is petty cash when compared to the huge sums remaining abroad.

When the government would create a tax paradise on foreign income then the loss of direct tax is futile compared to the boost the economy will get from all that cash returning home.

Their main interest is to get the big fish to bring their earnings to Thailand. Tax money paid by expats is almost irrelevant when compared to funds held abroad by wealthy Thai.

The whole tax thing created in 2023was a big big big mistake and hopefully the current government can repair it before they get sent off.

@Mike **********

1) Any money in your bank on 31-12-2023 is untaxed no matter when transmitted.

2) Any money in your bank on the year-end before becoming tax resident is untaxed no matter when transmitted.

More information here:

Thailand Tax rules for expats

Thailand doesn’t actually “double tax”. They calculate your tax liability and then check which part of that liability has already been paid in your home country.

In the end it comes down to paying the highest rate of two countries.

For US citizens there is a DTA which states that US social security can not be(come) taxed in Thailand.

I received my latest confirmation (about two weeks ago) within 40 minutes after submitting!

@Tony *********

That’s actually 6 July. 😉

Now about the 800k being taxable:

Let’s be realistic. It’s taxable when it’s foreign taxable income in your first year in Thailand *and* you transfer it into Thailand, right?

If earned in a year before becoming tax resident it’s qualified as savings, or “unspent prior income” and prior income is not taxed, no matter when you transmit it into Thailand.

Now, having 0baht income in USA in a year when you are at least 180 days in Thailand, and that money must be here at least 5 months, that means you were able to save 800k in six or seven months while still having to pay for food, housing, etc during the months that you remained in your home country.

Again, realistically spoken only a happy few, small percentage, of expats coming to Thailand is able to save 800k in six months from their foreign income while living abroad.

The chance that someone needs to pay tax on the 800k is really small. And in all honesty, those who have such income that they can save that kind of money in six months or less (almost usd 25,000) should not complain about contributing to the society. 😉

The exception is made for those who sell investments or property (e.g. foreign home) right before coming to Thailand. I was in that group myself and I ensured that I remained under 180 days in that year.

Thailand Tax rules for expats

@Jack **********

US Social Security is not taxed in Thailand, as per the dta between Thailand and USA.

Thailand Tax rules for expats

@Mike ********

You are sadly mistaken. As soon as you pass the limit of being 180 days within a calendar year in Thailand you are automatically Thai tax resident.

You could be tax resident in another country as well, but definitely a Thai tax resident.

That does not imply that you have to pay tax. A tax liability is based on entirely different criteria.

But again: 180 days in Thailand makes you tax resident.

Nonsense.

1) Savings from years before becoming tax resident are never taxed.

So in order to make the 800k taxable it must have been earned (outside of Thailand!) in a year when you become or are tax resident.

That means you were 180 days or more in Thailand so you must have made 800k in less than half a year. PLUS enough income to live abroad during those six months.

I place a safe bet than less than 10% of all newcomers makes that much money in his last six months abroad.

The whole BS about the 800k ever becoming taxable income is a Friday evening fantasy of some Facebook users who couldn’t keep their liquor.

The only exception being those who sold their home or other investments just prior to moving to Thailand and made a generous profit on the sale (which is hardly taxed in many countries but fully taxed in Thailand.

2) The 65k monthly can originate from any source, either taxable or not taxable. There are plenty examples of monthly transfers from untaxable sources, such as savings or tax exempt income.

The immigration officer probably just wanted to share a thrilling novel or something…

More information in the Thailand tax rules group on Facebook, here:

Thailand Tax rules for expats

I guess the fastest way would be by plane. Probably also better for your budget than by boat. 😉