If you don't remit income then you don't have to file...
I.E Thai's don't have to file unless they have income.
As for a Audit, if you have nothing to hide then nothing to worry about.
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Thailand new change - world wide income at Thai tax levels to be taxed
- Thread starter wellington
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I.E Thai's don't have to file unless they have income.
As for a Audit, if you have nothing to hide then nothing to worry about.
To speak in Thai and translate unless you have a Thai friend who can go with you. Besides that, I don't see any other use of an agent.
When I went I took a Thai friend with me because they would only speak Thai to me. But another friend when on his own, different RD office, and he could do it in English.
Thailand is still very much territorial when it comes to ownership of overseas entitites.
Note a lot of what Thailand has been pushing has been inline with the democrats (socialists) and their hook up with European socialists.
Trumps now in power, the entire wind direction has just changed.
he seems to talking his own book. He will for sure will gladly sell his HK vehicle solution to everyone and his dogs.
Apparently, its anyway illegal to give advice on thai tax due it being a reserved occupation for thais.
US has become pro-non-tax overnight, it's now a race to the bottom, European heads are saying make europe great again, they realise they are toast with high tax, and their brightest leaving (Europe/Asia/Middle East) etc.
So they will begin to try and reduce the burdens of the state, Thailand will be caught wrong footed as Thailand is not better than say southern Europe, or say Southern US, or Mexico etc, which will all begin reducing taxes to incentivise business and commerce, as well as immigration and investment.
Will take some time, but the Thai Gov will either end up like EU or adjust recognising money coming in is money coming into the economy, better to raise taxes indirectly than directly etc.
So they will begin to try and reduce the burdens of the state, Thailand will be caught wrong footed as Thailand is not better than say southern Europe, or say Southern US, or Mexico etc, which will all begin reducing taxes to incentivise business and commerce, as well as immigration and investment.
Will take some time, but the Thai Gov will either end up like EU or adjust recognising money coming in is money coming into the economy, better to raise taxes indirectly than directly etc.
An interesting survey in the Thai examiner asked people what they would do with the new remittance-based rule that was introduced in 2024. Now that tax returns are coming for the first time at the end of March 2025, 55% of the people in the survey considered leaving or not moving to Thailand.
That number would even be higher than that if WW taxation comes into play. 92% of the surveyed people are already aware of the draft legislation on WW taxation.
https://www.thaiexaminer.com/thai-n...d-in-2024-majority-will-not-file-tax-returns/
That number would even be higher than that if WW taxation comes into play. 92% of the surveyed people are already aware of the draft legislation on WW taxation.
https://www.thaiexaminer.com/thai-n...d-in-2024-majority-will-not-file-tax-returns/
no wonder, who would wanna pay more (besides paying way more than the locals) and as a thank you being constantly discriminated on a legal basis.
For copying the eu / us system, they have to provide some of the same benefits like: Land ownership, company ownership, real path to PR and citizenship (5-10 years), access to local schools for the kids, some sort of social security and healthcare plan.
The way better solution to this mess is: Just leave it as is, dont give the foreigner anything and dont ask them anything in return either.
On another note: Malaysia has seemingly extended their policy from 2026 to 2036. So that provides an easy fix to everyone concerned, at least for a while.
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Agree, but who want to live in KL instead of BKK ? Or Penang instead Phuket (even if i dont like phuket..).
This can eventually work if you can take the tax residency there with no minimum time spent in malaysia..
well agree if youre single than its great, but if you have a fam, Id rather be in KL, or Penang than in Phuket or BKK (unless married locally of course).
It cant be done, even the visa itself requires min stay.
Phuket is great for families, just need to ensure you are in the right place.
That's generally, Mai Khao, Paklok, or Chern Talay/Bang Tao, when you live here you rarely if ever travel south (Rawai, Nai Hahn, Chalong, Karon/Kata/Patong/Kamala) once or twice a week Phuket Town/Central Festival (but now there's big malls in Chern-Talay/Paklok (Thalang) so you don't need to go there TBH.
My Fridays with neighbours is usually drinking wine and eating food at the street stall market they have in Chern Talay, about 500/1000 baht for a night (good imported wine).
Eating out i had five dishes ranging the following for 6,000 baht the other night (Michelin star restaurant).
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Also property prices are still good, in front of a friends beach front villa (he's on the hill) there's these being built along the beach
It’s all about location - get the wrong location and it’s hell.convinced
I started at Rawai and worked my way north over time
I’d be careful buying ready made property in Thailand. Quality standards are very bad.
It’s better to build it yourself and always keep an eye on the workers, or hire someone to do that for you.
So I met this really horrible individual recently. They are incredibly borious and their ego is the size of Patagonia.
They currently reside in a 0% income tax jurisdiction but they want to become a tax resident in thailand in 2025 by spending > 180days on DTV visa, which was obtained by showing a side bank account with over 500k bhat +muay thai curse booked. In their DTV application apparently they didnt discolse anything else about their financial situation. That person also told me they have enough savings in the same bank account they shared to the thai embassy that can easily last them those 5 years and more, so no remittance per se (besides atm withdrawals).
However that same person is a greedy mf and wants to make more money through trading. They trade on several crypto platforms + wallets + ibkr + seed investments and are generally able to make 7figs net profits each year, or so they claim. But their ego is so big they might be making this up. Let's assume they dont.
Moreover they have some capital stashed in ibkr and in money markets via EU broker (they are EU citizens) that is yielding some interest every year, the former (ibkr) is distributed, the latter (eu broker) is accumulated.
Now this greedy mf will have to pay thai taxes on cap gains when they become tax resident in 2025 as they will be effectively trading from within the country and they are not interested in going throght the loops of setting a company in the Caribbeans and trade through that. However the same person, being a disgusting greedy mf, thinks they can get away with not paying any taxes, as they believe the risk of thai tax authority opening a filing on them is < 0.01% given that ibkr doesnt do crs and eu broker accumulates interest payments rather than distributing them. They think Thai tax authority will never check their crypto accounts, and as far as it goes for crypto platforms and banks/ibkr, this person main address will remain in the 0% income tax jurisdiction.
As they own real estate in the 0% income tax jurisdiction, and they it lease out and receive rent from that in the same bank account they shared with the embassy, their plan is to pay taxes in thailand in 2025 by declaring the rent they receive and gets paid on that account, while remaining silent about all the rest outlined above. And this is only if thailand moves to ww from territorial taxation. Otherwise they won't decalare anything.
Do you think this absolutely vile way of thinking has some legs or will this disgusting piece of human trash will be hanging on a very thin thread and there are huge chances they will eventually be hunted by thai authorities and sent to the most horrfying jail west of Chao Phraya? I am personally thinking of grassing themout to that tax authorities myself if they eventually pull this out, but evaluating pros and cons for my karma, and also I dont want to waste thai tax authority precious time if they eventually dont do that.
Pinging the people most plugged in with all Thai things
@wellington @JackAlabama
They currently reside in a 0% income tax jurisdiction but they want to become a tax resident in thailand in 2025 by spending > 180days on DTV visa, which was obtained by showing a side bank account with over 500k bhat +muay thai curse booked. In their DTV application apparently they didnt discolse anything else about their financial situation. That person also told me they have enough savings in the same bank account they shared to the thai embassy that can easily last them those 5 years and more, so no remittance per se (besides atm withdrawals).
However that same person is a greedy mf and wants to make more money through trading. They trade on several crypto platforms + wallets + ibkr + seed investments and are generally able to make 7figs net profits each year, or so they claim. But their ego is so big they might be making this up. Let's assume they dont.
Moreover they have some capital stashed in ibkr and in money markets via EU broker (they are EU citizens) that is yielding some interest every year, the former (ibkr) is distributed, the latter (eu broker) is accumulated.
Now this greedy mf will have to pay thai taxes on cap gains when they become tax resident in 2025 as they will be effectively trading from within the country and they are not interested in going throght the loops of setting a company in the Caribbeans and trade through that. However the same person, being a disgusting greedy mf, thinks they can get away with not paying any taxes, as they believe the risk of thai tax authority opening a filing on them is < 0.01% given that ibkr doesnt do crs and eu broker accumulates interest payments rather than distributing them. They think Thai tax authority will never check their crypto accounts, and as far as it goes for crypto platforms and banks/ibkr, this person main address will remain in the 0% income tax jurisdiction.
As they own real estate in the 0% income tax jurisdiction, and they it lease out and receive rent from that in the same bank account they shared with the embassy, their plan is to pay taxes in thailand in 2025 by declaring the rent they receive and gets paid on that account, while remaining silent about all the rest outlined above. And this is only if thailand moves to ww from territorial taxation. Otherwise they won't decalare anything.
Do you think this absolutely vile way of thinking has some legs or will this disgusting piece of human trash will be hanging on a very thin thread and there are huge chances they will eventually be hunted by thai authorities and sent to the most horrfying jail west of Chao Phraya? I am personally thinking of grassing themout to that tax authorities myself if they eventually pull this out, but evaluating pros and cons for my karma, and also I dont want to waste thai tax authority precious time if they eventually dont do that.
Pinging the people most plugged in with all Thai things
@wellington @JackAlabama
That's not how it works.
If they trade on a external account overseas its outside of Thailand(s) jurisdiction.
Only if Thailand introduces world-wide taxation would that change.
They won't - Crypto isn't covered under CRS...
And their overseas accounts are irrelevant unless they remit the income (via int wires) or domestic exchanges (and can't prove it was funds they had before 2024 - doesn't have to be the specific funds just principle liquid worth/pre-investment liquid-worth pre-2024).
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