@Graham ******

Chances are he’s right, but some (those bringing in untaxed income from abroad) will.

Most pensions are already taxed at (higher) foreign rates so they won’t be (additionally) taxed.

People with foreign future untaxed (three adjectives!) property sales could be in for an unpleasant surprise.

Note that the other countries may think differently. The Dutch tax office keeps telling people there is a new tax treaty, but it hasn’t been signed by Thailand.

Under the old rules you could choose the country where your income is taxed. Most Dutch chose Thailand because the rates here are considerably lower.

In the new treaty, ratified by Dutch parliament, you pay tax “at the source”, in Netherlands (for pensions).

If Thailand doesn’t ratify the new tax treaty then next year I will choose to pay taxes in Thailand. I guess the Dutch government will put much pressure to get the new treaty signed asap, definitely before 31 Dec.

@Stefani *******

@Jacob ******

*You* would know and you are responsible for filling the tax return.

Imagine this. You file 50k foreign income. In 2029 their IT somehow starts working and they figure out you brought 750k in.

Then it’s up to you to prove the surplus originated from prior savings and any smart tax man will check your savings and how they are reduced with money transfers.

I guess a good accountant would probably completely twist the mind of the tax department, especially for British because of their ‘alternative’ tax year (April to April).

@Cyndie *******

There are many stories about how the “evil Thai tax man” is ready to grab everything you own but most of that belongs in Disneyland.

Basically, in layman’s words, Everything you already paid tax for gets untaxed here (for people from countries with tax treaties).

There’s nothing weird about this, except that some will be hurt. Most will not. Old savings have probably been taxed in your original country and current income will probably also be taxed there.

There are some exceptions and it’s for your original country to make sure you are protected. An example of such protection is very visible in the dta with USA. Other countries will amend when necessary and follow. Nothing to be paranoid about.

@Tony *******

Next year it will be “before 2025”.

They won’t consider income from 2024 taxable for those who become Thailand tax resident in 2025.

They won’t consider income from 2025 taxable income for those who become tax resident in 2026.

And so on.

@Graham ******

Afaik they are mainly going for the peeps with big money. But exactly those will have the least problems to bring in huge amounts with little pain.

Buy a condo in any foreign country and spend 186 days in that condo every five years to interrupt being tax resident. Then, in that year bring in the monies and they are home-free.

Regular Johns won’t be doing this, but if I risked being charged 35% of a huge fortune I would definitely consider.

(No, I am not even near that category, even though I am ducking below 180 days this year for tax reasons)

@Cyndie *******

Technically anything you take from an atm and anything you buy using a foreign credit card is considered “bringing into Thailand”.

Enforcing this is an entirely different thing, even though Thailand is setting up information exchange with many other countries as part of their desire to become a member of the OECD.

That includes information exchange with most European countries, USA, Canada, Oz and multiple other countries in e.g. South-America and SE Asia.

@Tony *******

The difference being that under the old guidelines you could keep your income in your home country even though you were already tax resident, and then send it to Thailand tax free as “savings” in the next year.

That guideline has now been limited to savings from years before you became tax resident.

@Graham ******

You will *not* pay income tax on income earned in any year *before* you became tax resident.