Sorry I edited my original postWhat is a day year?
You cannot do this for one year and then go where you want? Why? Your EU country's problem?
Why not Paraguay? Check with @NewHorizonsParaguay he is a nice guy!
What is a day year?
You cannot do this for one year and then go where you want? Why? Your EU country's problem?
Why not Paraguay? Check with @NewHorizonsParaguay he is a nice guy!
Thank you! Apologies, I mean dividends from my company, not investments (and investments too). What is the problem there with this? I am not aware at all. Many thanksFrom what I read, Paraguay could be helpful to you (tax residency certificate). On the Py part, your foreign income is out of their scope.
The potential problem you could face is withholding taxes on your EU passive income (dividends) from the respective EU country, as Paraguay does not have an extensive DTT network (only Spain). If it is ETF, for example, some things can be done to prevent this.
It depends on the country where the company is incorporated. Many have withholding taxes on dividends (reduced when there is a DTT). Some have different withholding tax rates when the recipient's country is considered tax-haven/noncooperative (e.g., Slovakia 35% - Paraguay is on the list of cooperative countries, tho).Thank you! Apologies, I mean dividends from my company, not investments (and investments too). What is the problem there with this? I am not aware at all. Many thanks
I can send you the list for Slovakia, but the list varies by the countries. It depends on where your company is incorporated.thank you! Where is this list? never happened to me.
@JackieTsan you won't have this problem as you most likely incorporated in low-tax counties that don't charge withholding tax on dividends.I can send you the list for Slovakia, but the list varies by the countries. It depends on where your company is incorporated.
However, Paraguay signed this agreement (with some reservations), so it should whitelisted by most countries.
https://www.oecd.org/en/topics/sub-...administrative-assistance-in-tax-matters.html
Thank you! I can't understand what is this...I can send you the list for Slovakia, but the list varies by the countries. It depends on where your company is incorporated.
However, Paraguay signed this agreement (with some reservations), so it should whitelisted by most countries.
https://www.oecd.org/en/topics/sub-...administrative-assistance-in-tax-matters.html
Thank you very much @daniels27He is taking about this one
https://taxsummaries.pwc.com/slovak-republic/corporate/withholding-taxes
Which part of the LTR tax free status do you think is not actually tax free? I am genuinely curious, since I'm thinking of going for it soon?We definitely paid and keep paying more than enough! That’s why I’ve decided to move and stay at max 178 days but it’s hard to find where to go not to have risks.. just found out that Georgia (not in the topic but as we discuss) does not work too so still looking for other options. Elite doesn’t give tax free. Some people think that LTR is tax free but check the rules & terms carefully and you will conclude..
Section 5
Income tax under Part 2 of Chapter 3 in Title 2 of the Revenue Code shall be
exempted for a foreigner categorised as Wealthy Global Citizen, Wealthy Pensioner, or Work-
from-Thailand Professional who is granted a Long-Term Resident Visa under immigration law for
assessable income under section 40 of the Revenue Code derived in the previous tax year from
an employment, or from business carried on abroad, or from a property situated abroad, and
brought into Thailand.
Happy new year @yombolozWhich part of the LTR tax free status do you think is not actually tax free? I am genuinely curious, since I'm thinking of going for it soon?
That website seems confusing, or it is just me. Since when does CRS report individual transactions?Happy new year @yomboloz
Yes,
*After a quick search: LTR is exempt from foreign sourced income if remitted the following tax year.
source: https://www.expattaxthailand.com/your-questions-answered/ and a few other QAs
I'd appreciate it if you can let us know what else you might find, as I've heared a few other rules but I can't find them.
Thank you!
I posted a link to the Royal Decree "Governing Reduction of Tax Rates and Exemption of Taxes" which spells out the special exemptions for the LTR visa in Section 5. Straight from the source, no SEO blog fluff piece. As far as I know the Revenue Department re-interpretation of the remittance rule does not override this exemption.That website seems confusing, or it is just me. Since when does CRS report individual transactions?
Also with regards to the "LTR is exempt from foreign sourced income" yeah well so is ALL foreign income when earned the previous year and then remitted, from my understanding. Up until last year when that rule was removed. So I can't see why there would be a separate exemption carved out just for LTR visa holders, this applied to everyone equally. And it is now gone. Since the rules of SEO dictate that you must never publish dates when your content was written, its entirely unclear if that website just hasn't updated to account for the new rules.
Thanks for the clarification. Reading up on the new visa types I note that the LTR (long-term resident) has high requirements for yearly income, qualifications and/or assets as explained here: https://ltr.boi.go.th/#whatI posted a link to the Royal Decree "Governing Reduction of Tax Rates and Exemption of Taxes" which spells out the special exemptions for the LTR visa in Section 5. Straight from the source, no SEO blog fluff piece. As far as I know the Revenue Department re-interpretation of the remittance rule does not override this exemption.
Thanks for the clarification. Reading up on the new visa types I note that the LTR (long-term resident) has high requirements for yearly income, qualifications and/or assets as explained here: https://ltr.boi.go.th/#what
I was slightly confused because I thought the LTR visa was the same as DTV visa, the new "Digital Nomad" visa everyone has been touting the last year. But turns out it is not, and the tax exemptions you list don't seem to be available on the DTV visa.
well bc this 500k has a lot of characteristics of a dono (if you're foreigner).Yes, the exemptions only apply to the LTR visa (and even then, only a subset of the categories). I don't think that many nomads qualify for the remote work category, as even with the recent changes it still requires you have an employment contract with an entity that has an annual turnover of US$50M. The BOI page says they have 695 applications in the "Work-from-Thailand Professionals" category as of November 2024 (no data on how many of those approved).
In the "Wealthy Global Citizen" only 229 applications, guess not that many are happy to invest $500K in Thailand either.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?