Should I Worry About the New Thai Tax Regulations? скачать в хорошем качестве

Should I Worry About the New Thai Tax Regulations?

For some reason, the last few seconds of this video didn't render properly and got cut off. In the last sentence, I was asking people to leave a comment if they disagree with my analysis in any way. If you think that anyone might be treated unfairly under these tax regulations, please state the exact case. Thanks so much. I hope you enjoy the video.... Bob --------------------------------------------------------------------------------------------------------- Order information for my novel, The 28th Amendment can be found at https://www.amazon.com/28th-Amendment... ----------------------------------------------------------------------------------------------------------- The Thai government tax policy is quite clear and is described in a small set of slides https://www.rd.go.th/fileadmin/user_u... A list of countries having Double Tax Agreements with Thailand can be found at https://belaws.com/thailand/double-ta... (page down the site). First, if a foreigner earns money IN Thailand they must pay taxes on that income. No surprise here. You earn money in a country and you are taxed on that money. Second, if a foreigner spends 180 days per calendar year in Thailand (that is, the foreigner is a ‘tax resident’ in Thailand) AND that foreigner has income from a source OUTSIDE of Thailand earned in 2024 or later AND part or all of that income is transferred INTO Thailand then taxes must be paid on the money transferred into Thailand. So, for example, if you have a Thai retirement visa and you live on pension funds that you transfer into Thailand, you must pay Thai taxes on what you transfer. The rule is summarized in this table. This sounds like it could be bad, but there are several important exceptions: The first exception is that if the money was earned before 2024, it is exempt from taxes no matter when it is transferred into Thailand. So, it is perfectly safe to bring your ‘savings’ (money earned before 2024) into Thailand anytime without fear of it being taxed. The second exception says that money earned outside of Thailand in a year that the foreigner is NOT a tax resident, can be brought into Thailand anytime without being taxed. Together these two exceptions say that money earned outside of Thailand before 2024 and money earned outside of Thailand in years that you are NOT a Thai Tax Resident is exempt from Thai taxes. The third exception says that if your country has a “Double Tax Agreement” with Thailand, taxes paid in your home country are credited to any Thai taxes you might owe. So, you will not be ‘double taxed’. Thai income tax rates are quite low, so, if your home country has a double tax agreement with Thailand, it is very unlikely that you will owe Thailand any taxes. This is why most retirees will be unaffected by these rules. There are currently 61 countries that have Double Tax Agreements with Thailand (see link in the description). It is very unlikely that you come from a country without a Double Tax Agreement. So, it is extremely unlikely that you will owe Thailand any taxes. So, in summary, there are exactly three cases in which foreigners can expect to be taxed: 1. You earn money from work or investments INSIDE Thailand. That is, if you earn money in Thailand, you pay Thai income taxes. That’s how it works now and that’s perfectly reasonable. 2. If you earn money OUTSIDE of Thailand, and you spend 180 or more days in Thailand in a calendar year, and you are not paying taxes on this income anywhere else, then Thailand will tax this income. This is probably a relatively rare case. Generally, if you’re earning income in some country, that country will want to tax the income. If you want to completely shelter your income from taxes then you probably want to live in a place like the Cayman Islands, not Thailand. 3. You come from a country that does NOT have a double tax agreement with Thailand. In this case, you MIGHT be asked to pay taxes both in your home country and in Thailand (at least for that portion of the income that you bring into Thailand). In this case, you might choose to live someplace other than Thailand depending on your circumstances. But some videos have suggested that ALL foreigners will need to get a tax ID and file taxes forms in Thailand, even if they don’t owe anything. While the Thai tax form (PND 90/91) is mentioned in the slides, there is nothing in the slides to suggest that foreigners without a tax liability in Thailand will be required to submit tax forms. In fact, such a requirement would likely cost the Thai government far more than they could possibly collect in taxes.