In 2024, I transferred 800,000 for retirement visa. Called the Thailand tax revenue office and asked if I will be taxed on this remittance. The attorney at the revenue office said yes, I will be taxed. Maybe he is correct. Maybe he is wrong. I’ve chosen to leave before 180 days to find out later if he is correct or not. Is not worth it to me to take any chances. And yes, I am very calm and rational. Making the best decision based on the information available.
@johnwentz3925 If he's right, Thailand is going to lose a lot of expats. Fortunately for me, I transferred cash a long time ago. My pension is taxed in the UK, and they have a dual tax agreement with Thailand.
They have a habit of making up rules as they go as well so it's never going to be fully clear. I've already told my gf I'm leaving in February. None of this extra stress is of interest to me.
@maniac1367 I wouldn't be so rash my friend. This is all smoke and mirrors at the moment. All governments are trying to make life difficult and raise more money for their struggling economies. Last year, I could have bought my Thai wife back to the UK if I could prove that I had an income of 18k a year. In 2025, it will be increased to 38k. You would be hard pressed to find a better country than Thailand to live. On balance the positives outweigh the negatives.
@@trevor5526 yep I definitely agree. I've been saying similar things. I'm looking to purchase some properties in Asia but Thailand is currently off my list until there is more clarity. What I do know is many official websites are mentioning the 180 days situation. It does seem that all of these changes are clearly for netting tax gains. For now I'll be buying elsewhere
I think that same agent have webinare in Facebook and they tell it taxing is coming for sure and of coure they gladly help you, only affortable prices....
@maniac1367 I have been here for over 15 years. I will only be filling in a tax return if the revenue department asks me to. But I totally understand your situation. I transferred money for property years ago, and my pension is already taxed in the UK.
@@trevor5526There are penalties for not filing a tax return and when no return has been filed they can go back 10 years (See - How Long Can The Tax Nan Go Back In Tome To Assess You BANGKOK POST. Also See - Non Filing Of Tax Returns SHERRINGS).
@@trevor5526Here in Thailand no Immigration or Tax revenue dep. asks you to do something. Its all in your own resposibility. You will not get any letter or forms to your address like in other countries. This you have to keep in mind if you live here.
@susanzimmerli5178 Thanks for the advice, Susan. I previously worked in a mathayom/secondary school over here, and when I told them I had a Thai wife, they said I wasn't earning enough to pay tax. I never asked other single guys if they paid tax, but no one ever mentioned it, so I'm guessing they didn't.
Ben, markets hate 'uncertainty'. All this 'talk' about taxing worldwide income is creating a lot of 'uncertainty'. If it does come to pass, retirees with 'assessable' overseas income will have to decide if the 'cost of living' advantage compensates for additional tax liabilities in Thailand. I would pay a higher 'effective' rate - home country tax + Thai tax - staying in Thailand, but the lower cost of living and the lifestyle would compensate. That said, the Siamese cake would lose its cherries.
consequence of the crs common reporting standard which the WEF/OECD bankster mafia has pushed through which now the majority of countries are following
I thought this was standard. I’ve lived in a couple of different countries and my main bank always asks for a tax ID from the country where I claim to reside. It’s not a Thai only thing. Banks want to know where their clients reside for normal KYC and compliance purposes.
my worry! i am from the uk just sold my house there and now retired here i Thailand , if i bring my funds into my Thai bank, which is my preference is there ANY chance at all i would be required to pay tax on it at some point? i am 80 i do no work at all and only get a state pension, my view is as of 1/01/24. although proposals a date was set in stone for them to demand at some point ‘due taxes’ ,, same if i buy a property here and bring money in to pay for it will it be TAXED at some point? it’s all very worrying
usual answer is : for whatever reason you spend the money you brought in after 1st Jan 24 it is supposed to be taxed if you are tax resident ,180 day rule, unless you can prove you had that money before 1st Jan 2024 ,may be there are a few other exceptions like declaring it as a gift with proper documentation about that or the ltr Visa under the 250000 $ investment in thai goverment bonds scheme
That all sounds good Ben but as a retired person living in Thailand for many years I still worry about how will we prove that what we bring it to Thailand is pension, what will they want
Many retirees already have to show every year a legal document from their embassies that confirms their monthly pensions from abroad with all detailed information just to be able to extend their 1 year stay. So thats not a big deal nd never was.
I understand & agree with all . The only point left out is that Expat leaving in Thailand more than 180 days and want to buy properties will have to pay taxes on the money imported in Thailand in 2024 , unless proved that it was existing savings before end 2023 . So the real estate market to Expats living more than 180 days in Thailand will be reduced a lot specially in the future when savings 2023 are finished 😅😂😅 . Cheers all .
Ben, You're right. Everyone needs to take a chill pill and wait until it becomes an issue. Two years ago, they actually passed a law requiring a special license to ride a bigger motorcycle in Thailand. As of now, they still have no idea what to do to implement the process. I will believe it when I see it. Thanks for all the good info.
Indeed, they've already dangled the free B10,000 digital money account sign up, next on the "you will own nothing and be happy" slave list will be all gold shop transactions needing that ID
Well done Ben. There are so many people telling people that they will be taxed. My Thai wife has an accounting company and she constantly is in touch with revenue dept. She agrees with your thoughts on this matter 100%. I currently am on a retirement visa but will change soon as I am investing a lot of money into a business which will be beneficial to myself as I retired this year. She will sort out necessary visa once my retirement visa expires so I can perform a business and work legally as it were. Death and taxes no one can avoid but worrying unnecessarily over something that has not happened and the expat experts do not help. Always enjoy your channel and your detailed response to any issue you are talking about.
@@DidntDoo Yes that is a key point. The PITA of even having to file tax return in Thailand is going to annoy many including the fees to hire a tax prep person. It will be a huge boon for tax prep business though
I agree to most of your words, but how do you know that about 80-90% of retirees wont be affected at all with tax liability in Thailand? Pensions are assessable income according to the Revenue Department if not already taxed in the home country. And the vast majoritiy of retired expats live here permanently so they are residents here and not residents anymore in their home country. They can't pay tax in their home country even if they wanted to, due to not having a registered residence in their home country. The majority receives their pensions directly to their thai bank account every month. Cany you explain, why you're so sure these retirees wont have to pay tax at all?
I am from the UK, and I have just qualified for the state pension. When I contacted the pension department, they told me that I would be taxed by the Inland revenue in the UK.
For USA unless expat has renounced citizenship (and thus forced to pay exit taxes on their wealth) all expats are required to still pay taxes on all USA income whether from investments or pension or social security.
@clrodrick My pension will also be taxed by the UK government, and they have a dual tax agreement with Thailand. I think that a lot of people are panicking over nothing, and I don't think that the Thai government is interested in small fish like us.
Ok then, so UK and US retired expats with Thai residence and no residence anymore in their home country have and always had to pay tax on their pension abroad. So they will not have to pay tax in Thailand for sure thanks to DTA. So why are they worried then?
Worrying is like a rocking chair, it gives you something to do, but it doesn’t get you very far. Even if it passes into law, until I have to take action on it I’m not worried. Look at the law that was passed about not having people in the back of pickup trucks.
I'm sure that was suspended to any in possession, certified holders of big green tick authorisation. A study or two confirmed it a risk thing with parallel outcomes with the chance to buy one get 15 free ....Tedros & Bill weren't happy said it's not Same-Same
Your information is always sensible and balanced. Essentially nothing to see here at least yet. This suggested change would definitely scare away many investors, so undoubtedly in discussion sound minds will ensure the economy is not adversely affected by firebrands
You say don't worry and nothing is happening, yet. But I thought that the law, if approved, will impact all funds sent after 1.1.24. So if I transfer the money to buy a property and they make a "bad" decision, the property will cost up to 35 % extra. Could you clarify this point?
A friend stayed here over 180 days in 2024. He doesn’t have a TIN and transferred about 460,000 baht. Does he need to file a Thai tax return? What are the penalties for not having a Thai TIN and not filing a tax return in 2025? He paid 14% Federal US tax and 5% state income tax on the funds he took from his 401k retirement account.
I really don't see this tax law being implemented. It would be more lucrative if they brought back the 500baht airport exit tax that was abolished in 2007. Take that and multiple it by the 20 million tourists a year minimum and that would give you a sweet 300 million US at one collection point without the hassle of tracking down every foreigner.
@@PantaRhei-j9g Yes you are right. Maybe they could just consider increasing the airport tax by 300baht instead of the implementing the foreign tax law.
I think you would be hard pressed to find a better country to live in. Yes, Thailand has a number of negatives, but the positives far outweigh them. Affordability, safety, friendly people, and good health care being the main ones. As for my country, the UK, it's become an unsafe, unaffordable, deteriorating policed state run by self seving politicians. And tax or no tax (the UK has a dual tax agreement with Thailand) You would still be better off.
Confused:- A take away is that " the law has not changed...? " So I HAVE to submit a tax form if i stay more than 180 days or not? is that component set as law?
I thought there was something that came down and around November of last year published in The Gazette (meaning it was law) around the issue of retirees having to get a tax ID number and all that s***. What's this not the case?
That was just a reinterpretation or revision of an existing tax rule that Ben mentioned at the start of the Vid and still stands. The other stuff is other possible changes to tax that is being discussed such as taxing world wide income etc and that would require changes to the tax law not just a reinterpretation/revision of an existing rule.
If you are a tax resident and single/couple with income of over 120,000/220,000 THB you have to file a tax return and to file a tax return you need a TIN. There are penalties if you should but don’t file a tax return.
@@czi2011 Because you file doesn’t mean you have to pay any tax. A list of things you can claim can be found here - Thailand Personal Tax Deductibles and Allowances SHERRINGS. If you are from USA, UK, Australia, Switzerland Expat Tax Thailand have Vids on YT that go through all aspects of the DTA’s for these Countries and give sample case examples. I also watched one from a YTer on Buriram who went his local tax office and said they had people there to answer your queries. I am from the UK and after watching the above Vids I wrote down my queries and went to my local tax office in Udon Thani. They seen me straight away and I spoke with a young man who could speak English, his supervisor who didn’t speak English and they got a Lady on a Vid call who could also speak English. They answered all my queries and the answers I got were exactly what I expected after watching the Expat Tax Vid. IMO the need for professional help filing tax returns depends on how simple or complicated your situation is and as mine is pretty simple so I don’t think I need them. Of course my experience was only with Udon Thani and if you went your tax office it might be a good idea to bring along somebody who can translate and I would imagine things would be more hectic in places like Bangkok and Pattaya.
To beat any Government take POWER of ATTORNEY over the Birth Certificate. Get yourself a good lawyer not many would know how to do it let alone believe it.
Retirement is not something that I plan to do for 1 or 2 years, so saying that these changes could take a 'few years' to come about, would be basicaly in the infancy of my retirement and ex-pat status within Thialand. I am not shooting the messanger, but hopefully, somebody who follows your channel is in a position to lobby on behalf of the ex-pat community. The ex-pat community is probably reaposible for more economic activity in Thailand than any foreign investment will ever be. How do we get the policy makers and legislators to give us some dirwction, that is all we really need, not continuous thought bubbles.
The revenue department issued a PDF paper with the exact explanation recently, its not the politicians to explain to expats. Just search for it on google. Can‘t put links here, it will be deleted
@@daveharris2941 what a naive point of view . The expat community working in Thailand is already paying taxes , just as I did when in worked there . That is much larger in terms of impact than the pattaya style retirees on a small pension . And the new interpretation is exactly that . Those repatriating money from overseas income in the same year were taxable already anyway , albeit not enforced . They got away with it , of course complained . This is not a change targeting foreigners . A lot more is to be gained by taxing rich Thai who got a free pass for years . To state that the expats who repatriates money from overseas ) have a bigger impact that DFI is not true at all .
@wengelder9256 hardly the point I was making. Congrats on paying tax, you should pay tax if you are earning. I am just suggesting clarity, rather than thought bubbles, would be good if the county is interested in attracting more expats, and the money they bring. I am not even asking for a declaration of tax exemption, just clarity, so I can make an informed decision. Most of the expats I associate with are no where near the tourist towns. They are embedded in the rural communities that their wives originate from. My wife and I have purchased multiple plots of land, and currently employ 4 staff, and I do it all on my 'small' pension. Most of the guys I spend time with bring in more than the 65k thb required each month. We probably spend more than that just at the golf club. So my idea of a small pension and yours might be vastly different. However if you are worried about the pattaya expats existing on a 'small' pension (how that impacts anybody's life other than the individuals themselves, is beyond me) perhaps you could lobby the powers that be to raise the income threshold for retirees. In closing sir, if you are happy to make uniformed decisions, then all credit to you, I have made a life based on information, not smoke and mirrors
So what will you do? Just live in Thailand 60d tourist VISA at a time with a few border runs? And then where? I'd rather be settled down somewhere, have a home base where I can buy a nice TV, pay for internet and have a nice kitchen with full appliances. Being in vacation mode 12 months out of year is not so appealing.
@@clrodrickIf you’re wealthy you can afford to leave your home unoccupied for half the year. Not a deal breaker. Plus the weather in Thailand is shit anyway 3-4 months of the year so more than enough reason to live somewhere nice from April to October.
@@aeroAdvocate okay fair point, though I am in the camp that prefers just to have one home base not two. In USA we have a big problem with squatters taking over unoccupied homes and claiming them as their own.
Thailand is focusing on tourism, not people that wants cheap living. The visa excemt implementation and the Schengen type visa to encompass, think, 6 countries will draw lots of tourist and snowbirds to SE Asia, effectively eliminating long term stay visa, as retirries can maintain their living status in their respective homelands, and enjoying 6 months in various Asian countries. Typically what Canadians and Americans do in Mexico.
If they want to tax then we deserve a path to citizenship.
You "may", you "may not" be taxed....thats the problem.
In 2024, I transferred 800,000 for retirement visa. Called the Thailand tax revenue office and asked if I will be taxed on this remittance. The attorney at the revenue office said yes, I will be taxed. Maybe he is correct. Maybe he is wrong. I’ve chosen to leave before 180 days to find out later if he is correct or not. Is not worth it to me to take any chances. And yes, I am very calm and rational. Making the best decision based on the information available.
With due respect you need a decent visa agent...
@johnwentz3925 If he's right, Thailand is going to lose a lot of expats. Fortunately for me, I transferred cash a long time ago. My pension is taxed in the UK, and they have a dual tax agreement with Thailand.
They have a habit of making up rules as they go as well so it's never going to be fully clear. I've already told my gf I'm leaving in February. None of this extra stress is of interest to me.
@maniac1367 I wouldn't be so rash my friend. This is all smoke and mirrors at the moment. All governments are trying to make life difficult and raise more money for their struggling economies. Last year, I could have bought my Thai wife back to the UK if I could prove that I had an income of 18k a year. In 2025, it will be increased to 38k. You would be hard pressed to find a better country than Thailand to live. On balance the positives outweigh the negatives.
@@trevor5526 yep I definitely agree. I've been saying similar things. I'm looking to purchase some properties in Asia but Thailand is currently off my list until there is more clarity. What I do know is many official websites are mentioning the 180 days situation. It does seem that all of these changes are clearly for netting tax gains. For now I'll be buying elsewhere
🇹🇭This too shall pass.🇹🇭
Saw one "tax agent" on Facebook who charged 10,000 baht for a 1 hour consultation. Total scam.
I think that same agent have webinare in Facebook and they tell it taxing is coming for sure and of coure they gladly help you, only affortable prices....
There are many of them.
What is clear is we will need to do a tax return if you stay for the 180 days and that's already more effort than many would prefer.
@maniac1367 I have been here for over 15 years. I will only be filling in a tax return if the revenue department asks me to. But I totally understand your situation. I transferred money for property years ago, and my pension is already taxed in the UK.
@@trevor5526There are penalties for not filing a tax return and when no return has been filed they can go back 10 years (See - How Long Can The Tax Nan Go Back In Tome To Assess You BANGKOK POST. Also See - Non Filing Of Tax Returns SHERRINGS).
EXACTLY RIGHT ! I will only stay 179 days now, no way am I going to retire to Thailand !
@@trevor5526Here in Thailand no Immigration or Tax revenue dep. asks you to do something. Its all in your own resposibility. You will not get any letter or forms to your address like in other countries. This you have to keep in mind if you live here.
@susanzimmerli5178 Thanks for the advice, Susan. I previously worked in a mathayom/secondary school over here, and when I told them I had a Thai wife, they said I wasn't earning enough to pay tax. I never asked other single guys if they paid tax, but no one ever mentioned it, so I'm guessing they didn't.
Ben, markets hate 'uncertainty'. All this 'talk' about taxing worldwide income is creating a lot of 'uncertainty'. If it does come to pass, retirees with 'assessable' overseas income will have to decide if the 'cost of living' advantage compensates for additional tax liabilities in Thailand. I would pay a higher 'effective' rate - home country tax + Thai tax - staying in Thailand, but the lower cost of living and the lifestyle would compensate. That said, the Siamese cake would lose its cherries.
I would be one of those for wich thai taxes worldwide would be to expensive n would hv to relocate 😅
Obviously double tax agreements take care of that issue . Or better yet… should …
I am pushed by my foreign banks to send them my Thai TIN, which I don't have, or they might close my accounts. So something has changed.
Me too
@@bluestar-on-yt One reported transaction to Thailand and you will have the locl tax man knocking on your door accompanied by imm.
Why not get the no. then? The no. alone doesn‘t mean you have to pay tax.
consequence of the crs common reporting standard which the WEF/OECD bankster mafia has pushed through which now the majority of countries are following
I thought this was standard. I’ve lived in a couple of different countries and my main bank always asks for a tax ID from the country where I claim to reside. It’s not a Thai only thing. Banks want to know where their clients reside for normal KYC and compliance purposes.
I fully understand, and.” respect your vital information Benjamin, appreciate your honesty and clarity thank you
my worry! i am from the uk just sold my house there and now retired here i Thailand , if i bring my funds into my Thai bank, which is my preference is there ANY chance at all i would be required to pay tax on it at some point? i am 80 i do no work at all and only get a state pension, my view is as of 1/01/24. although proposals a date was set in stone for them to demand at some point ‘due taxes’ ,, same if i buy a property here and bring money in to pay for it will it be TAXED at some point? it’s all very worrying
For case specific inquiries please feel free to email us at info@legal.co.th.
--BWH
usual answer is : for whatever reason you spend the money you brought in after 1st Jan 24 it is supposed to be taxed if you are tax resident ,180 day rule, unless you can prove you had that money before 1st Jan 2024 ,may be there are a few other exceptions like declaring it as a gift with proper documentation about that or the ltr Visa under the 250000 $ investment in thai goverment bonds scheme
Why would you bring the funds here and get no interest at all from any bank, leave it there in the uk if I was you
That all sounds good Ben but as a retired person living in Thailand for many years I still worry about how will we prove that what we bring it to Thailand is pension, what will they want
Many retirees already have to show every year a legal document from their embassies that confirms their monthly pensions from abroad with all detailed information just to be able to extend their 1 year stay. So thats not a big deal nd never was.
This all makes sense but...This is Thailand ( TIT ), I have been here long enough to know that in this country at any time expect the unexpected !!
I understand & agree with all . The only point left out is that Expat leaving in Thailand more than 180 days and want to buy properties will have to pay taxes on the money imported in Thailand in 2024 , unless proved that it was existing savings before end 2023 .
So the real estate market to Expats living more than 180 days in Thailand will be reduced a lot specially in the future when savings 2023 are finished 😅😂😅 . Cheers all .
same for acquiring any big ticket items such as cars etc
Ben,
You're right. Everyone needs to take a chill pill and wait until it becomes an issue. Two years ago, they actually passed a law requiring a special license to ride a bigger motorcycle in Thailand. As of now, they still have no idea what to do to implement the process. I will believe it when I see it. Thanks for all the good info.
Thanks Benjamin. It's unfortunate that emotions seem to supersede logic and rationale. I appreciate the information you provide.
Unfortunately Thailand is still going along with WEF BS digital money, so I don't think l would live there permanently
Indeed, they've already dangled the free B10,000 digital money account sign up, next on the "you will own nothing and be happy" slave list will be all gold shop transactions needing that ID
The only thing Thailand changes regularily is visa rules. They certainly do not want foreigners staying there.
Foreigners com and stay 2-3 weeks and spend but not stay long time and not stay for forward retired, spend and spend and go home!
Well done Ben.
There are so many people telling people that they will be taxed.
My Thai wife has an accounting company and she constantly is in touch with revenue dept.
She agrees with your thoughts on this matter 100%.
I currently am on a retirement visa but will change soon as I am investing a lot of money into a business which will be beneficial to myself as I retired this year. She will sort out necessary visa once my retirement visa expires so I can perform a business and work legally as it were.
Death and taxes no one can avoid but worrying unnecessarily over something that has not happened and the expat experts do not help.
Always enjoy your channel and your detailed response to any issue you are talking about.
People are saying you have to file even if no tax is owed....no one wants to File
@@DidntDoo Yes that is a key point. The PITA of even having to file tax return in Thailand is going to annoy many including the fees to hire a tax prep person. It will be a huge boon for tax prep business though
I agree to most of your words, but how do you know that about 80-90% of retirees wont be affected at all with tax liability in Thailand? Pensions are assessable income according to the Revenue Department if not already taxed in the home country. And the vast majoritiy of retired expats live here permanently so they are residents here and not residents anymore in their home country. They can't pay tax in their home country even if they wanted to, due to not having a registered residence in their home country. The majority receives their pensions directly to their thai bank account every month. Cany you explain, why you're so sure these retirees wont have to pay tax at all?
For cases specific inquiries please feel free to contact us at info@legal.co.th.
--BWH
I am from the UK, and I have just qualified for the state pension. When I contacted the pension department, they told me that I would be taxed by the Inland revenue in the UK.
For USA unless expat has renounced citizenship (and thus forced to pay exit taxes on their wealth) all expats are required to still pay taxes on all USA income whether from investments or pension or social security.
@clrodrick My pension will also be taxed by the UK government, and they have a dual tax agreement with Thailand. I think that a lot of people are panicking over nothing, and I don't think that the Thai government is interested in small fish like us.
Ok then, so UK and US retired expats with Thai residence and no residence anymore in their home country have and always had to pay tax on their pension abroad. So they will not have to pay tax in Thailand for sure thanks to DTA. So why are they worried then?
I think they do not have enough personnel, not have proper ATK to do that and not have political support enough
Excellent video - thank you.
Worrying is like a rocking chair, it gives you something to do, but it doesn’t get you very far. Even if it passes into law, until I have to take action on it I’m not worried. Look at the law that was passed about not having people in the back of pickup trucks.
I'm sure that was suspended to any in possession, certified holders of big green tick authorisation. A study or two confirmed it a risk thing with parallel outcomes with the chance to buy one get 15 free ....Tedros & Bill weren't happy said it's not Same-Same
Have been here for 30 years and still wonder how I can pay tax in thailand 🤣
Thank you for the update.
So, I gather it is safe to assume that the 180-day TIN isn't required for foreigners staying in the Kingdom for more than 180 days?
For cases specific inquiries please feel free to contact us at info@legal.co.th.
--BWH
Ben never talks about that
@@ndeshotel I don't believe I recall him ever addressing it, I wish I knew.
@@rogerlee8071 seems TIN would be required for those staying 180 days
@@ndeshotel That's what has been reported; I haven't seen or read of any changes in the law, though.
Great job Thank You
Your information is always sensible and balanced. Essentially nothing to see here at least yet. This suggested change would definitely scare away many investors, so undoubtedly in discussion sound minds will ensure the economy is not adversely affected by firebrands
Well at least FINALLY we see them kick the can down the road a few years with only 2 1/3 months to go until 2025. About time!
You say don't worry and nothing is happening, yet. But I thought that the law, if approved, will impact all funds sent after 1.1.24.
So if I transfer the money to buy a property and they make a "bad" decision, the property will cost up to 35 % extra.
Could you clarify this point?
Thanks Ben.
A friend stayed here over 180 days in 2024. He doesn’t have a TIN and transferred about 460,000 baht. Does he need to file a Thai tax return? What are the penalties for not having a Thai TIN and not filing a tax return in 2025? He paid 14% Federal US tax and 5% state income tax on the funds he took from his 401k retirement account.
I really don't see this tax law being implemented. It would be more lucrative if they brought back the 500baht airport exit tax that was abolished in 2007. Take that and multiple it by the 20 million tourists a year minimum and that would give you a sweet 300 million US at one collection point without the hassle of tracking down every foreigner.
actually it was not really abolished it is now collected over your ticket by the airline
@@PantaRhei-j9g Yes you are right. Maybe they could just consider increasing the airport tax by 300baht instead of the implementing the foreign tax law.
Good job Ben
There are a lot of things in Thailand that are turning me off. My Thai wife is feeling the same.
That's why we're looking at other places to go to.
I think you would be hard pressed to find a better country to live in. Yes, Thailand has a number of negatives, but the positives far outweigh them. Affordability, safety, friendly people, and good health care being the main ones. As for my country, the UK, it's become an unsafe, unaffordable, deteriorating policed state run by self seving politicians. And tax or no tax (the UK has a dual tax agreement with Thailand) You would still be better off.
Confused:- A take away is that " the law has not changed...? " So I HAVE to submit a tax form if i stay more than 180 days or not? is that component set as law?
Yes that was alredy law for decades, but people ignored it because of the interpretation of one paragraph.
I thought there was something that came down and around November of last year published in The Gazette (meaning it was law) around the issue of retirees having to get a tax ID number and all that s***. What's this not the case?
That was just a reinterpretation or revision of an existing tax rule that Ben mentioned at the start of the Vid and still stands. The other stuff is other possible changes to tax that is being discussed such as taxing world wide income etc and that would require changes to the tax law not just a reinterpretation/revision of an existing rule.
I still do not understand: are retirees from abroad obliged by law to apply for a tax-ID or not?
If you are a tax resident and single/couple with income of over 120,000/220,000 THB you have to file a tax return and to file a tax return you need a TIN. There are penalties if you should but don’t file a tax return.
@@IsaanMan thankyou
@@czi2011 Because you file doesn’t mean you have to pay any tax. A list of things you can claim can be found here - Thailand Personal Tax Deductibles and Allowances SHERRINGS. If you are from USA, UK, Australia, Switzerland Expat Tax Thailand have Vids on YT that go through all aspects of the DTA’s for these Countries and give sample case examples. I also watched one from a YTer on Buriram who went his local tax office and said they had people there to answer your queries. I am from the UK and after watching the above Vids I wrote down my queries and went to my local tax office in Udon Thani. They seen me straight away and I spoke with a young man who could speak English, his supervisor who didn’t speak English and they got a Lady on a Vid call who could also speak English. They answered all my queries and the answers I got were exactly what I expected after watching the Expat Tax Vid. IMO the need for professional help filing tax returns depends on how simple or complicated your situation is and as mine is pretty simple so I don’t think I need them. Of course my experience was only with Udon Thani and if you went your tax office it might be a good idea to bring along somebody who can translate and I would imagine things would be more hectic in places like Bangkok and Pattaya.
Benjamin, probably one of your best videos. May I suggest you enjoy a bourbon on the rocks now?
No consent equals no CONTRACT don’t sign a thing.
And you panic here the whole time. 😂😂😂
To beat any Government take POWER of ATTORNEY over the Birth Certificate. Get yourself a good lawyer not many would know how to do it let alone believe it.
Retirement is not something that I plan to do for 1 or 2 years, so saying that these changes could take a 'few years' to come about, would be basicaly in the infancy of my retirement and ex-pat status within Thialand.
I am not shooting the messanger, but hopefully, somebody who follows your channel is in a position to lobby on behalf of the ex-pat community.
The ex-pat community is probably reaposible for more economic activity in Thailand than any foreign investment will ever be.
How do we get the policy makers and legislators to give us some dirwction, that is all we really need, not continuous thought bubbles.
The revenue department issued a PDF paper with the exact explanation recently, its not the politicians to explain to expats. Just search for it on google. Can‘t put links here, it will be deleted
@@daveharris2941 what a naive point of view . The expat community working in Thailand is already paying taxes , just as I did when in worked there . That is much larger in terms of impact than the pattaya style retirees on a small pension . And the new interpretation is exactly that . Those repatriating money from overseas income in the same year were taxable already anyway , albeit not enforced . They got away with it , of course complained . This is not a change targeting foreigners . A lot more is to be gained by taxing rich Thai who got a free pass for years . To state that the expats who repatriates money from overseas ) have a bigger impact that DFI is not true at all .
@wengelder9256 hardly the point I was making.
Congrats on paying tax, you should pay tax if you are earning. I am just suggesting clarity, rather than thought bubbles, would be good if the county is interested in attracting more expats, and the money they bring. I am not even asking for a declaration of tax exemption, just clarity, so I can make an informed decision.
Most of the expats I associate with are no where near the tourist towns. They are embedded in the rural communities that their wives originate from. My wife and I have purchased multiple plots of land, and currently employ 4 staff, and I do it all on my 'small' pension. Most of the guys I spend time with bring in more than the 65k thb required each month. We probably spend more than that just at the golf club.
So my idea of a small pension and yours might be vastly different. However if you are worried about the pattaya expats existing on a 'small' pension (how that impacts anybody's life other than the individuals themselves, is beyond me) perhaps you could lobby the powers that be to raise the income threshold for retirees.
In closing sir, if you are happy to make uniformed decisions, then all credit to you, I have made a life based on information, not smoke and mirrors
Something get more and more GOP Here.
He understand nothing about writh and wrong.
Sorry
Agenda 2030
Im limit myself to 180 days....im a multi millionaire.
So what will you do? Just live in Thailand 60d tourist VISA at a time with a few border runs? And then where? I'd rather be settled down somewhere, have a home base where I can buy a nice TV, pay for internet and have a nice kitchen with full appliances. Being in vacation mode 12 months out of year is not so appealing.
Being in vacation mode 12 month out of a year is not so appealing???😂😂😂 I love it !!!
@@clrodrickIf you’re wealthy you can afford to leave your home unoccupied for half the year. Not a deal breaker. Plus the weather in Thailand is shit anyway 3-4 months of the year so more than enough reason to live somewhere nice from April to October.
@@clrodrick Singapore. Florida.Japan.
Until they clear up tax situation, I'll survive.
@@aeroAdvocate okay fair point, though I am in the camp that prefers just to have one home base not two. In USA we have a big problem with squatters taking over unoccupied homes and claiming them as their own.
Thailand is focusing on tourism, not people that wants cheap living. The visa excemt implementation and the Schengen type visa to encompass, think, 6 countries will draw lots of tourist and snowbirds to SE Asia, effectively eliminating long term stay visa, as retirries can maintain their living status in their respective homelands, and enjoying 6 months in various Asian countries. Typically what Canadians and Americans do in Mexico.