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Thailand 0% tax

#181
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#185
wellington said:
It's ridiculous to say the least.

Also summed up in the Bangkok post article, socialism... paying Thai's 10k THB each... its to pay for that.

Put into perspective, i'd hazard a guess this policy will rip the bottom out of the property market, consumer stables market, and so on, literally leading to Thailand going through financial chaos.

I know people living in Thailand spending 1-2m$ a year (Europeans, Old money) they will exit, theres hundreds spending 500k-2m THB a month - they will exit... then there's the average income and pension aged that will feel the squeeze.

Also consider if you will, the sheer amount of wealth transfer from Russia, China, and Ukraine to Thailand over the past two years, and how that will stop due to this taxation, Russian's literally buying property they can truly never own, setting up businesses paying fair wages to Thai's, that will all end.

UK, EU, US funds are obsolete compared to that wealth influx... in-fact arguably from experience of observation, most Europeans/US are broke a*s beer bellied sex-pats.
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I am also now wondering how hi-so Thai influential families will take this, pretty sure they were the ones benefitting the most of this loophole.
 
#186
Edict
1695049996403.webp

Section 41 paragraph 3: Section 38_64

zzzzzz said:
Tax free up to 500k THB...
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500k is nothing...

mrthit said:
I am also now wondering how hi-so Thai influential families will take this, pretty sure they were the ones benefitting the most of this loophole.
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Hopefully riots and military coup.

Radko said:
Imagine all those people that paid for a 10-20 year Elite Visa thinking they were going to live tax free in Thailand.
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Spoke to a few that paid for the max, and they are pissed to say the least... already making plans to move.

Myself, annoyed is an understatement.

zzzzzz said:
https://web.archive.org/web/20230000000000*/https://www.thailandelite.com
Thailandprivilege.co.th is their new address since a few weeks ago.
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Ah cheers wasn't aware of that.. i always just respond to the last email when speaking to them and pull their site from google.
 
#190
bigdaddyleon said:
Just a few days ago applied for elite visa bla-"!

any good alternatives to Thailand?
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PANAMA and they have a great residency visa for pensioners, you'll get discounts on many things (movie theaters, restaurants, plane tickets, health insurance, utility bills, etc...)
Many other residency visas are available if you want to relocate to Panama.
 
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#194
Shame. Thailand offers a lot of things that many other countries don't, and that is taking into account the whole world. I don't really see any replacements (cheap, good food, large country, low to zero tax, amazing lifestyle in general etc). I guess being resident in a territorial tax country and spend less than 6 m per year in Thailand is the best plan now.
 
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#196
churumbelo said:
A couple of friends and I applied for the Elite visa and we're still on the verification process. I am not going to pay for the visa once approved unless there is a turn of events. And my friends will likely do the same. Thailand is going to lose more money with this brilliant plan than it will get from foreigners' pockets.
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TPC manipulating with extensions in August, then bringing new expensive memberships, and now comes government with worldwide taxation? No, thanks.
 
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#197
zzzzzz said:
TPC manipulating with extensions in August, then bringing new expensive memberships, and now comes government with worldwide taxation? No, thanks.
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Yeah, besides all of that, I do not know what the hell they are thinking about. They increased the price of the Elite Visa, the 20 years plan is now 5x the old price (around $140k), and now they want to tax people on their worldwide income. I do not know who could be so stupid to pay for a new Elite visa. Plus, living in a country that gives you uncertainty and you do not know what new stupid law a politician will have in mind every day.
And when they released the new Elite visa plans a few days ago, at the presentation they had a slide showing that the Elite visa is targeting digital nomads too... lol
 
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#199
bnpsu said:
What about your savings (not income) that’s brought into Thailand? Is that taxed now too?
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It is stupid, but the Enligsh translations I have read so far about the reform point out that. We will need further clarification on this. Some other information says if your country has a DTT with Thailand you do not have to, but you would have to pay the difference if your tax in the other country was lower than in Thailand. Still very confusing everything.
 
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#200
churumbelo said:
It is stupid, but the Enligsh translations I have read so far about the reform point out that. We will need further clarification on this. Some other information says if your country has a DTT with Thailand you do not have to, but you would have to pay the difference if your tax in the other country was lower than in Thailand. Still very confusing everything.
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Typical Thailand. The new rules start 1.Jan 2024. Clarification will come on 10.Jan.

Normally there is a lot of discussion until then, each and every politician will give his superb opinion. But I‘m not so sure this time. It‘s more like a tax coup.
 
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