This video is a response to possible regulatory changes focused on combating money taxation avoidance. Unfortunately Farang (foreigners) get caught in this taxation dragnet.
Taxation of Foreign-Sourced Income into Thailand - Effective from January 1, 2024, a new interpretation of the law in Thailand will impose personal income tax on foreign-sourced income brought into the country. This means that individuals will be required to pay taxes on any income earned outside of Thailand and brought into the country after this date.
The current tax law in Thailand states that tax residents are only required to pay taxes on foreign funds that are sent to the country within the same year they were earned. Unfortunately, this rule can be taken advantage of by affluent individuals and businesses.
Thai Revenue Code: the assessable income under Section 40 of the Revenue Code derived by a resident of Thailand (A resident of Thailand is defined as an individual who stays in Thailand for a period or periods aggregating 180 days or more in any tax year) in the previous tax year - from employment, a business carried on overseas, or property situated overseas - which is brought into Thailand should be subject to personal income tax in the tax year that the said assessable income is brought into Thailand. This rule should apply to assessable income which is brought into Thailand from 1 January 2024 onwards.
@Chocolate Man In Thailand
Thailand TAX TALK with "Doctor Tax" Thomas Carden
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If You Need Year-round Major Medical Insurance a great option is a company called Pacific Cross. I did a video previously explaining why I chose this company that I'll put a link to below.
*** Contact Loic at Pacific Cross for more information and jump the long correspondence queue by using our special email address retirecheap.pacificcross@gmail.com
In full disclosure if a policy is initiated from this correspondence a small referral fee will be paid (to Thais).
In case you missed my previous RU-vid video comparing major medical policies and companies check out my RU-vid video Important Thai Major Medical Insurance Policy Comparisons 🚑 • Important Thai Major M...
Translate Thai In Real Time - Are you an expat living in Thailand looking to communicate with locals & fellow expats? Get ready to unlock the language barrier and discover a whole new world of conversations! In this video, I'm going to show you how to use state-of-the-art technology to translate Thai in real time and connect with like-minded individuals. Find out how you can break through language barriers without spending precious time learning a new language!
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Connecting with like-minded individuals is easier than ever before thanks to language translation services. Whether you're looking to make new friends, collaborate on business ventures, or just chat about your favorite things, these services can help you communicate without having to learn a new language. With the use of new technology, these translation services can provide accurate translations in real-time so that you can break through language barriers and start connecting with people all over the world.
And give us a thumbs up and subscribe and you if can, link back to my website, I’d appreciate it. For more videos, the latest information on retiring abroad check out SE-Asia-Expat.com
Edited by Panda Sathaisong 🐼
Song credit - Xtar Drummer
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22 авг 2024