Proposed Changes to Thailand Tax (It's not good)

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Thailand is considering making major changes to the way it taxes residents, including expats who reside in Thailand. This is on top of the already announced changes to the way foreign sourced income is to be taxed from 1 January 2024.
Now there are reports that The Thai revenue department is considering fulling scrapping Thailand's territorial tax status and moving to a full residency based taxation system where all income and capital will be taxed in Thailand regardless of where it is earned and whether or not it is remitted into Thailand. It is just a proposal at this stage but still something all expats should have on their radar as it would make a huge difference to the way foreigners are taxed in Thailand.
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#thailand

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11 июн 2024

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Комментарии : 217

@wm3138 28 дней назад

What retiree needs extra legal bullshit and complications regarding taxation? I will leave.

@Richard.Cabeza 19 дней назад

and just imagine how difficult they'll make it.

@jasonaris5316 Месяц назад

Anyone would think they don’t want foreigners moving there

@thailandsnippets901 26 дней назад

Think of the run on the Thai Banks when the exodus starts!!

@stevend8785 19 дней назад

They like your money but they don’t like you, for the most part.

@oscarvaldez7142 15 дней назад

Fly into TL and just leave your money with them at the airport and you may then leave on the next plane out is their true feelings.

@Richard.Cabeza 12 дней назад

@@thailandsnippets901 Exactly. Don't put large amount of money in a Thai bank.

@VibrantLivingLists 17 дней назад

For the sake of getting 10-15% tax from foreigners they will loose out on 70-80% of their income being spent on living there. This has got to be the stupidest thing I’ve seen to get people to spend money there. If it ends up passing I’ll be changing where I move to and be lucky to spend the 6 months there per year.

@JesusChrist2000BC 12 дней назад

Yep. The thing about Thailand is they are a one-step forward and three steps back country when it comes to finances for foreigners. They think that they can try to shake foreigners down for all the money that they have every single cent. But it just backfires people are already spending tens of thousands of dollars a year in Thailand and that's just per person. If you add it all up it ends up being billions of dollars worth of Revenue every year. They will see a sharp drop in that due to this policy but that's what they need in order to learn their lesson it's going to be fun watching this get rolled back four or five years later it's just unfortunate that we all have to wait until then. See you all in the philippines, vietnam, OR Cambodia.

@somluck2813 9 дней назад

Do you really think you could stand up in Lumphini Park and persuade the crowd while Thai tax residents should pay tax on their world wide income, farang expat tax residents should be exempt from tax? Farang logic 😂

@wesgraham2262 14 дней назад

Changed my mind about getting a retirement visa and living in Thailand. No way!

@titantitan2851 26 дней назад

This is going to hurt my Thai partner and her family.... I wont pay tax nor will I deal with a foreign accountant... Philippines looks good.

@clinth2414 9 дней назад

You might check Philippine expat taxation, my research revealed they have always taxed US expats as "global tax citizens". As westerners it is hard to understand Thailand's many uncertainties, only exacerbated by involving a Thai accountant. No win!

@feelinforty 26 дней назад

179 days and I'm out.

@jamesvengren5316 26 дней назад

If you pay tax then you should get medical for free

@oscarvaldez7142 17 дней назад

yes, if paying tax, then should get the 30 Baht insurance plan for free.

@waynesitarz424 27 дней назад

My Thai bank interest is eaten up by Thai tax withheld and ATM fee. My world income is 99.99% Canadian and already taxed. I will not pay any income tax to Thailand and will change to tourist visas split between several countries.

@SvirepiyBambr-xw8rw 13 дней назад

I am Canadian too. Have you done some rough calculations by chance? Is Thai income tax higher than Canadian? I had an impression that our income tax in Canada is quite high but never actually compared it to the Thai.

@nickmondo222 29 дней назад

i have already gone mate. I left after 172 days in Thailand this year. Be back in January. Vietnam is great by the way.

@BambinoAmericano 15 дней назад

That’s the way to go.

@mlgneo2855 13 дней назад

@nicknaidment what visa do you use to stay in Vietnam long term?

@JesusChrist2000BC 12 дней назад

Vietnam has no long term stay options. 30 visa extendable to 60 not enough time.

@Sammyli99 12 дней назад

@@JesusChrist2000BC get a VAN and do SE Asia, be back in time for Song Khran.

@morganmccarthur1633 Месяц назад

I will certainly avoid Thailand and advise everyone I meet to avoid Thailand. Who ever thought this idea up is out of touch with the drawbacks.

@cryptocrusader6078 Месяц назад

6 months bounce this tax will destroy Thailand

@beatwey5442 Месяц назад

There is one family who won’t pay any taxes no matter what the new tax law will be

@jglee6721 27 дней назад

lol. Good one.

@ayebo15 26 дней назад

Actually there are several ones worldwide

@Sammyli99 12 дней назад

mine, of course.

@wm3138 28 дней назад

Stop spending any disposable money in Thailand.

@tingtong5898 27 дней назад

Why?

@SvirepiyBambr-xw8rw 13 дней назад

@@tingtong5898 He wants all Ploys for himself 😂

@Sammyli99 12 дней назад

just spend non-disposable money!

@AusValue Месяц назад

oof imagine buying the elite visa after the fees rose, then being copped with this news

@zolafero5781 Месяц назад

Exactly happened to me. Got it in June 23

@robknadle5728 Месяц назад

That seems like it was all planned. They were finally getting decent sales after over a decade of being deep in the red. Then the fear of missing out and jacking up the the price by a huge amount. Now they're subject to over 25-35% of all income even pensions and savings. Even if not brought into Thailand and subject to being audited if not pay correctly. No clear rules after 8 months and they will change it out of the blue again how they want.

@user-dj9nl2vs9x Месяц назад

Elite Visa holders are exempt from tax on their overseas remitted funds to Thailand.

@user-dj9nl2vs9x Месяц назад

Not Taxed when you are an Elite Visa holder

@zolafero5781 Месяц назад

@@user-dj9nl2vs9xunfortunately we will be taxed

@scottfree993 Месяц назад

I suspect there will be a massive boycott of the new laws, either buy staying under the 6 months per year, by abandoning Thailand completely or just refusing to deal with the bureaucracy.

@jameshartnett3538 21 день назад

I predict a lot of empty condos come november

@albertinsinger7443 27 дней назад

Andorra 10% flat tax in the center of Europe. You get permanent residency can own property.

@Sammyli99 12 дней назад

cost of living 3x.

@user-kz9rp3pq2z Месяц назад

Really disappointing. Two tax returns will be a total nightmare.

@susanzimmerli5178 Месяц назад

Why two tax returns?

@user-kz9rp3pq2z Месяц назад

@@susanzimmerli5178 potential for country of citizenship and country of residence ie Thailand

@susanzimmerli5178 Месяц назад

@@user-kz9rp3pq2z As I left my country I‘m no taxresident any more there and Indon‘t habe to pay tax there so no tax returns. Only tax in Thailand for my money I transfer from income abroad.

@SvirepiyBambr-xw8rw 13 дней назад

@@susanzimmerli5178 I am a Canadian citizen and work remotely for a Canadian employer. It means that for the Canadian Revenue Agency I am a Canadian tax resident and should file an income tax return. Then Thailand jumps in and demands me to file another income tax return if I am a Thai resident and transfer money to my Thai bank account. Here is how I can get to file 2 tax returns in 1 year 🤷

@longtime102 15 дней назад

I would not mined paying some tax but what do i get in return, nothing, Philippines here i come.

@cainejingtrakool8205 26 дней назад

GOOD MORNING VIETNAM !!! JUST AS BEAUTIFUL AS THAILAND ! TAX friendly ! MUCH CHEAPER !

@tyvid 21 день назад

But no retirement visa

@mlgneo2855 13 дней назад

What visa are you using to stay in Vietnam long term?

@wesgraham2262 14 дней назад

Not too smart are they? Thailand will lose much more revenue than they think they will bring in if that law is actually enacted. So many people will bail out of the country.

@BambinoAmericano 15 дней назад

Was planning Retirement visa or even Golden visa.. no way, going back to tourist visas. Just wondering if they would actually cumulate the time stamps in your passport..

@iLuvLife_Aus Месяц назад

Dual tax agreements will minimize tax however submitting tax returns will add complexity. 179 days in Thailand is the way to go and enjoy SEA. Indonesia actually making it easier - check out 2024 second home 10-year visa by investment.

@FrozenSkyy Месяц назад

I've heard the Indonesia 2nd home 10 year visas don't get issued. Is that true? Do you have one.. Or know others that have it? Interested in that.

@USARAY1947 Месяц назад

Exactly. I spend North American winters in Thailand and stay less than six months to keep my medical insurance. The insurance covers me both at home and abroad and at 77 years, that's crucial.

@peterhannon9972 26 дней назад

Will it affect my pension if I retire there. I'm 65 and thinking of retiring there?

@nomadic-mind 10 дней назад

Entry and exit are typically counted as days in the country so it's less than 179.

@peterhannon9972 5 дней назад

@@sunriseinisaan Ireland. Military and widowed.

@OneJuanWon Месяц назад

If Thailand were to go through with implementing this, I would only go there to visit for 2-4 weeks, but not reside. There's other options in SE Asia that don't do this (for now at least).

@testicool013 21 день назад

It was implemented 1st January

@Richard.Cabeza 19 дней назад

Next year I will be doing the same, but 2-4 months.

@AnthonysTradingChannel 9 дней назад

Good video, thank you for posting this. I’m looking to move my business to Thailand in the near future as I have a family here so I’ll be reaching out to you.

@offshoreinasia 4 дня назад

Thanks Anthony

@bobjuniel8683 2 дня назад

As retiree I report every 90 days to Thai immigration. Not once was I advised of any changes to Thai taxation laws. That could easily have been done with a Web site address for translations of the new law's implications.

@user-gh6ik2nt2n Месяц назад

Great insight! Thanks for sharing!

@offshoreinasia Месяц назад

Glad it was helpful.

@taccntb4345 26 дней назад

How does this affect people who come to Thailand to retire? Hows does it affect people who dont WORK but are retired?? Not a chance in hell theyd try to tax retirees TWICE.

@thailandsnippets901 26 дней назад

Don't you believe it.

@marleymarl0 27 дней назад

Doesn’t something 80% of the population pay no income tax? There is virtually no property tax either. I’ve been living and working here for 15 years hiring 10+ Thais full time, paying income tax, corporate tax, social security tax and collecting vat for govt, yet I am a non-immigrant, who has to report themselve every 90days, renew visa every year. And now they want to tax me on my investments abroad?

@mlgneo2855 13 дней назад

Not taxed on your investment abroad. Taxed on money remitted into the country (wire/atm). The global tax is not on the table (at the moment).

@SvirepiyBambr-xw8rw 13 дней назад

@@mlgneo2855 And how are they going to tax the ATM withdrawals? How do they know that the VISA card with "JOHN SNOW" printed on it belongs to the particular John Snow who resides in Chiang Mai?

@thailandsnippets901 12 дней назад

@@SvirepiyBambr-xw8rwEvery transaction through an Atm requires passport number and your phone number for a password before you can process it

@mlgneo2855 12 дней назад

@@SvirepiyBambr-xw8rw you would declare that assessable income you withdrew on your tax return. It would be audited with the international reporting standards. On both sides (both banks).

@Sammyli99 12 дней назад

LOL. Read the small print if you ran your offshore activities via another entity you can avoid tax by NOT sending the money to THAILAND that's all. Physical non-investment transfers in = Taxable, no physical transfers in you are ok, they don't tax at ATMs.

@user-pe2cl9jl7n 26 дней назад

Thailand has the right to chose its taxation system. But we have the right to chose if we like that. When you dont like it, dont go there. There are plenty of other beautiful countries who offer better conditions for expats.

@Richard.Cabeza 19 дней назад

Malaysia is my go to place during the unhealthy air quality season. Then hop over the Philippines, then Vietnam. Change is good... many might actually find a better place for them to live.

@thebanccapp 27 дней назад

Great synopsis and well presented!

@offshoreinasia 25 дней назад

Thank you

@thebanccapp 25 дней назад

@@offshoreinasia I'm Aussie living in Thailand, my 179 days in 2024 is up in 3 x weeks, I'm leaving. Re REMITTED TO THAILAND interpretation - does that include using your Australian Credit Card in Thailand?

@Richard.Cabeza 19 дней назад

I feel for those who use the ฿65,000/mo deposit method for their retirement visa. How will they avoid paying the taxes?

@Sammyli99 12 дней назад

MARGINAL TBH= 65*12= 780, health ins and allowance 160 so tax on 620 its about 35kb tax or say flat 5%, at those rates I would say if you are on 65k a month you are doing VERY WELL. and should be saving 30-20k a month, I live well run a car and house and 5 dogs on 50% of that, and have no debt, in fact saving up for the 800k deposit, its the least I can leave my wife, for the wake.

@JesusChrist2000BC 12 дней назад

Lol I was considering an elite visa which would have locked me into paying this(at least if I still spent over 180 days in the country). Now they aren't getting a dime. I'll just keep doing tourist visas.

@johncohen4224 16 дней назад

Taxed twice, no way my friend

@JD-jdeener Месяц назад

In an upcoming video could you feature alternatives to Thailand that you feel are a good alternative to retire in SE Asia?

@offshoreinasia Месяц назад

Thanks JD, I'll put in on our list.

@JesusChrist2000BC 12 дней назад

And to think these clowns are doing just after the country had somewhat recovered tourism from 2020 and 2021. This won't be as bad as the lockdowns but if I am a bar owner or restaurant owner anywhere near a tourist area you should expect massive losses once this is implemented. Maybe 20 to 30%

@Swenser 28 дней назад

When is this new 600 year visa starting?

@goldgeologist5320 26 дней назад

Spain and many other countries like this. So I have an idea. Form a business to own with a business partner to own 2 apartments, one in each country. Then the two partner alternate between the two countries to avoid the taxes.

@user-io5my9se3t 9 дней назад

I am moving out of Thailand. There are many other countries that are more organized. U will not drain my account. Don't know what tomorrow will bring in Thailand.

@thailandsnippets901 26 дней назад

I only have my pension to live on and now the Thai Government want to tax it. That means I cannot afford to live here any longer as I will not be able to exist on the smaller income. I will now move to Malaysia where they have a more tax friendly Government. Bye. Thailand.

@SvirepiyBambr-xw8rw 13 дней назад

But Malaysia is more expensive than Thailand, isn't it?

@thailandsnippets901 12 дней назад

@@SvirepiyBambr-xw8rwMainly food cost, rest same as Chiang Mai

@mattgloyn3928 21 день назад

What about if you just live off savings and not working while in the country ? They can't tax your savings .

@offshoreinasia 17 дней назад

That's right. Pre 2024 savings are excluded from the tax.

@jameswest3275 9 дней назад

@@offshoreinasia yes but you still have to prove it every year.

@timcarney7175 9 дней назад

Who in their right-mind would voluntarily enter into another country's tax collection apparatus. I would much rather buy a plane ticket to Costa Rica, Malaysia, Panama, Philippines Etc. and leave Thailand before 180 days. The tax savings would pay for your rent in another country.

@kyle1981 Месяц назад

How much would people get taxed on a pension if living there full time?

@offshoreinasia Месяц назад

Hi Kyle, pensions can often be tax free, depending on the DTA. If you want to go over your specific situation, best way would be to book a consult: offshoreinasia.com/book-a-call/ Thanks

@vicpincham8546 16 дней назад

I was going to retire there next year but now I will have to re think it

@roderick2105 28 дней назад

I assume the new arrangements - regarding taxing world-wide income - will not be introduced for the 2024 year. As we are already part way through the year. This raises the question of when the new wider tax rule will come into operation. Anyone know ?

@mlgneo2855 13 дней назад

Correct. It’s not on the table, rumors.

@jameswest3275 9 дней назад

this started 01/01/24. i am now a tax resident in Thailand and so is everyone else who has been here 180 plus days. you are going to be paying taxes in 2025. and of course they don't tell anyone what the new tax laws actually are going to be. just make a announcement and cause a huge panic. the system that lets Thailand see your USA (and other countries) tax returns is all ready in place. they know how much you make, what you paid and what the difference is for their tax rate and you will pay it.

@richardbond4496 26 дней назад

time to move to vietnam cambodia malaysia philippines lol bye thailand they want you to pay so you can spend your money here lol

@BaronSamedi1959 11 дней назад

If all countries would agree that your worldwide income is taxed by your residence country, then all these tax shenanigans would be gone.

@bobjuniel8683 2 дня назад

It used to be, tax is paid where the money is earned. My pensions are tax free. Now that Thailand plans 25% tax on that pension I have to leave. I have no deductions. If I go home I get free medical and hospital services and other aged assistance.

@stevend8785 27 дней назад

Sounds like the optimal time to be there is about “Black Friday” to a the week BEFORE Songkran.

@Richard.Cabeza 19 дней назад

Avoid the place from mid January to mid May. Unhealthy air quality.

@carstensanonym7527 Месяц назад

Interestingly everybody is focusing on foreigners in this matter, but for sure the Thai citizens are a much bigger group impacted by it. It will impact the rich Thais who have overseas income. More milk can be pressed out of this group i guess...

@tingtong5898 27 дней назад

You are absolutely correct. This is aimed at wealthy Thais earning money outside their country. There are many paranoid expats.

@SvirepiyBambr-xw8rw 13 дней назад

Do not worry about the rich folk, they will find a plenty of ways to transfer money without paying taxes. The easiest way is to buy some goods in another country, import it into Thailand and sell the goods. And voila! The money are in Thailand without a cross border bank transfer! And I am not a tax optimization specialist, not even close. There are much more clever and sophisticated guys who specialize in such tricks and these guys will do it much more subtly and smoothly 😉

@davidwalden2887 25 дней назад

I am an Australian Aged Pension (AAP) recipient living in Thailand. I also get Aus12,000 per year from my tax-free superannuation fund, I also have a moderate amount of cash in the bank, which is for seniors and is all tax-free in Australia, I am under the tax-free freehold. The superannuation is free of income tax in Australia. Will Thailand tax me, no one seems to be able to answer this question... I wonder about this? I remit most of this money to Thailand. Will I pay Thailand's tax? None of my income is taxable in Australia. Nice to hear from someone who knows? Many Australians and other countries' citizens will be in the same boat, will they be subject to double taxation. Many questions need to be answered soon.

@testicool013 21 день назад

5 minute read of the Thai -Australian tax treaty says your pension and super is safe anything over that just draw out through an ATM

@natfash6026 20 дней назад

i think you will find if your Super was State Super Fund..no double tax, but AgedPension is taxable here in Thailand.

@testicool013 20 дней назад

@@natfash6026 Australian aged pension is definetly not taxable in Thailand as Thailand and Australia have a tax treaty that clearly states that pensions are not taxable

@Sammyli99 12 дней назад

look at income tax rules and you can relax 12k aussie is about B300k less zero band B150k, less your allowance B60 k max (so 210k is tax free) you would pay 5% on 90k baht, also health ins up to 100k is deductable too, so 90 x 5% less 50k for health (esti-mate) that's 40k x 5% = 2k baht, hardly a deal breaker. I would use ATMs although FEES and rates if more than 2k, send it in.

@stevecoombes2375 25 дней назад

How is this going to be policed? Will the banks have to report all incoming international transfers? Will Immigration report foreign income from the bank statements retirees/ married folk have to supply? What if I send money to my wife instead of myself? Lots of hurdles before they get this off the ground.

@Richard.Cabeza 19 дней назад

They will likely put the full burden on foreigners to prove they paid the tax. It will be a Cluster-F

@mlgneo2855 13 дней назад

Gifts to gf account aren’t taxed.

@rob.7597 27 дней назад

Is it 179 days per year or in 1 go???

@PaulBengtsson 27 дней назад

per year

@goodphone156 26 дней назад

You have fully right

@windhoundbrak Месяц назад

What about the concept 'No taxation without Representation'? Free hospital consultations in future for taxpaying foreigners, free entry to national parks, easier access to Thai citizenship?

@ScooterOnHisWay2024 Месяц назад

Do you think America's pretend principles apply globally? Hell, it usually doesn't even apply there.

@natfash6026 20 дней назад

dream on...LOL

@bonky221 Месяц назад

Personally I blame the influencers who promoted Thailand as a hubspot for expat to reside in which cost housing, food and cost to go up combined with thailand GDP falling in last couple of years.

@user-dj9nl2vs9x Месяц назад

18 years here 2 teenage children and 3 properties. Have 3 rental.properteis in UK which provides me with my "living income" which is akready taxed in UK, and I have in exccess of $500k offshore investments. I have found 2-3 means to circumvent tax. Plus I am not taxed on my "savings" that I accrued before 1 Jan 2024.

@offshoreinasia Месяц назад

Great to hear you've found a way for it to work for you.

@bendikskristensen9000 25 дней назад

Tell me why should people not pay tax, do it in your home country or in Thailand.

@Ulrich-y4b 18 дней назад

the problem will be the bureaucracy; forms, receipts etc. all in Thai; this has to be translated and will cost a lot

@user-tl2eu9dq8w 26 дней назад

I am a retired American residing in TH for over 30 years. I obtained a "Permanent Resident Permit" some 20 years ago. Will I be effected by this new taxation regulation. My ONLY income is funds that I periodically remit to my Thai bank account in Thailand.

@offshoreinasia 25 дней назад

It will depend what the source of the funds was, when it was earned, when it was remitted and the double tax agreement between America and Thailand. We can look at this for you if you wish: offshoreinasia.com/contact/

@sky5jump 16 дней назад

Easier to leave, this will hurt Thailand just like Colombia. Six months and gone and zero investment in any real estate. @@offshoreinasia

@bryanbrian1234 8 дней назад

When it comes to taxes they will never have enough, what will happen to the money more corruption, more taxes more corruption, start small and keep increasing. Always happens this way. Great to have a tax base that can't complain can't ask for accountability in return.

@gregmurray1255 27 дней назад

Leaving in 2 weeks thanks

@natfash6026 20 дней назад

good luck friend

@HundredPercentSteve 25 дней назад

Just when I was getting ready to retire to Thailand🎉 they start this nonsense

@oscarvaldez7142 23 дня назад

Time to find another country, TL is the land of rug pulls.

@Sjrsz 26 дней назад

Was planning on making a move to Thailand. Now I've decided to look elsewhere first, before making any commitments. This is totally disappointing. This type of uncertainty will make everyone reconsider that's in a similar position.

@Richard.Cabeza 19 дней назад

Hold off making any big financial decision about Thailand.

@SvirepiyBambr-xw8rw 12 дней назад

This reminds us why seasoned expats say "rent everything and own nothing in Thailand" 😉 I would not feel safe making big purchases in the country that makes sudden moves like that.

@Sammyli99 12 дней назад

LOL I'm 20 years here never had a problem with taxes, just got a refund for 5 straight years due to my Health Insurance which is an annuity, so I got saving deducted as a "cost", don't ask wifey did it, but includes health cover 10 years, and a lump sum.

@Sammyli99 12 дней назад

this is a "LEAD GENERATION FUNNEL" right? I got it.

@offshoreinasia 11 дней назад

We are running a business, yes. But we also try to provide 'free' value along the way.

@daveinthailand 28 дней назад

Im only going to get a basic pension from UK in 2025 no other income just 10k per year Will i need to pay tax on this. Does the UK tax my pension Also woried about Crypto taxes Cannot find a English-speaking accountant in Buriram

@offshoreinasia 25 дней назад

Hi Dave, we have English speaking accountants in Bangkok if you ever make it down that way. Drop us a message if you want to organise a meeting (in person or online): offshoreinasia.com/contact/

@les8518 Месяц назад

Nothing has happened yet. And it might not happen.

@offshoreinasia Месяц назад

Fingers crossed...

@chrissmall1246 18 дней назад

I will wait to see how things play out over the next couple of years. Thai government has a difficult time creating any rules or laws that stick. If it costs me substantially more to live here I will spend half the year somewhere else and Thailand will lose my investment in the country and its people. It may be small but add every other xpat that feels the same way and the loss to Thailand will be recognized, especially over the long term. I spend alot more than the 10000 baht the government is yet to make good on. Lets see what happens and make a choice accordingly.

@bobjuniel8683 2 дня назад

I will not lose 25% of my pension. It is time to go home. Who will care for the Thais that I care for? I can only do thar if I live in Thailand.

@adamhend3211 27 дней назад

They are mostly targeting rich Thais with money earnt from assets overseas. The double tax treaties won't affect foreigners from many western countries. There is a very good video by an American accounting firm in Pattaya.

@brucekellam5203 27 дней назад

Can you post the name of the firm, I would like to see the video, thx.

@adamhend3211 26 дней назад

@@brucekellam5203 I will try to find it for you.

@morrillT-gd8hs 27 дней назад

A lot of hot air over a non-issue because there are reciprocity agreements with most countries! H

@scottfree993 26 дней назад

@@morrillT-gd8hs if that's the case then they need to to come out and say exactly which countries, which tax activities are exempt and which aren't so it's crystal clear.

@morrillT-gd8hs 19 дней назад

@@scottfree993 I don't know the exact countries but it's safe to say most major western countries. Any income you have in your home country is exempt as long as it stays there. The only part that is taxed is the amount you bring in through the swift system. What you want to do is just use ATM machines. If you do send money through swift, keep it just enough to cover living expenses which will put you in a low tax bracket making your Thai tax negligible.

@scottfree993 19 дней назад

@@morrillT-gd8hs and of course, if possible, also the money you send through send through swift should ideally be from what you already had before 2024, so any money earned from 2024 should be placed in a different account and spent everywhere except Thailand 🙂

@Ulrich-y4b 18 дней назад

the problem will be the bureaucracy; forms, receipts etc. are all in Thai; this has to be translated and will cost a lot

@morrillT-gd8hs 18 дней назад

@@Ulrich-y4b I'm sure they will have English forms for the farang. I agree with you though. It's really not worth the hassle. I will be traveling around, a few months in each country. You can stay up to 3 years in the Philippines on a tourist visa if you're American!

@Swenser 28 дней назад

The trick is to pyramid borrow. One lender pays off the next. Live in debt baby. 😮

@wm3138 28 дней назад

Leave!

@5150TJT 27 дней назад

You never been to a hospital in Thailand ? Why are Aussies given a Thai health card. Part of the free trade agreement.

@natfash6026 20 дней назад

i never got one!

@Ulrich-y4b 18 дней назад

really ?

@5150TJT 18 дней назад

@@Ulrich-y4b went to a Hospital in Chiang Mai, gave my ID got a Thai photo health care card. Was checked by a nurse for height/weight/ blood pressure before even seeing a Doctor. All Doctors spoke perfect English.. Hospital was as modern and well equiped as our hospitals in Perth.

@ShoelessNomadThailand 29 дней назад

too much scare mongering

@ericdelevinquiere9902 Месяц назад

Looks like Thailand doesn’t really care, times are changing, tourism is probably not the long term goal there, I completely understand that and it’s part of the transition to a developed country with industrialization etc…

@JVAN073 27 дней назад

whahahahahaha sure. The way to a developed country...is that what you see when you look around. ? LOL. Hilarious. It's the way to poverty again....No sane person will invest in this dump and none of the plans for the future work or get executed. I'v been here so long. It's still a backward country only too expensive now.. No development at all....What a laugh.

@cornelisverhoef9282 27 дней назад

You obviously don't live here and have no idea what clowns are running this country.

@carlobaldassarre76 15 дней назад

Australian retirement pension is not taxed after the age of 65 years old , i have payed my taxes over the 40 years i have worked, now i must pay tax on my pension once i have resided more than 180 days in thailand .... stay 179 days then go for 1 day an come back ,absolute madness...

@SvirepiyBambr-xw8rw 12 дней назад

180 days during the tax year. It means that if you leave Thailand and the return several days later it will not help because they count the total amount you stay in Thailand during the tax year.

@peterh0862 27 дней назад

What about all the Ex-Pats that pay their Thai GF or wife a monthly salary? Does this then become a tax deduction? Or will the Thai Revenue Department then chase them up to pay tax? This has been an il-conceived idea !!!

@w3s77 Месяц назад

Benefits to Thailand: Increased tax revenues, reduce inflation for working class Thai people, reduce unpaid medical bills, increase employment in tax prepares and lawyers (higher skilled professions as Thailand is trying to increase the skill-level of the population). This will be a huge positive for Thailand and working class Thai people.

@offshoreinasia Месяц назад

All fair points. Thanks for sharing.

@SvirepiyBambr-xw8rw 12 дней назад

All this is true only if expats decide to stay and pay the foreign income tax, hire tax accountants etc. If they decide to leave Thailand then: - The construction industry in the resort areas will get hurt badly, many expats will try to sell their condos and very few will be willing to buy. - Expats will spend much less money in Thailand. Bye-bye "increased tax revenues"! - Expats will stop buying a medical insurance. Bye-bye more "increased tax revenues"! - Expats will support women and their families in other countries. The poor sick water buffalo will get no treatment 😭