ALERT: Has Thai Immigration Created a Tax "Loophole"?
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- Опубликовано: 5 фев 2025
- #ThaiImmigration #ThailandImmigration #ThailandTax
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Appreciate you in depth discussions of these important topics Benjamin.
I agree 100 percent. I just renewed my retirement visa without anyone asking me to get tax number or to file a tax return.
No consent equals no CONTRACT
He who makes the CLAIM bares the Burden of Proof
Any Contract you sign even your passport always write ALL RIGHTS RESERVED underneath your signature. The Government hates that we are under Contract law ( Statutes) not common law.
December 29 renewed my retirement visa not a word about tax.
Immigration just want to see if you can support yourself: B800k in bank or B65k confirmed to arrive monthly. I think the Banks will reports large amounts of money coming into your account here to the Revenue Dept. Ouch!
Comprehensive overview of taxation in Sunday's Phuket News, thought you would be jumping right in on that.
If it's not published in the Royal Gazette it's not law.
Well, how am I supposed to know if I have to file any kind of tax declaration, how am I supposed to know that i have to get an tax number ? The Revenue department as, Thai Government, knows my address, so they will send me a friendly reminder if i am meant to file for anything. Nobody told me until now anything. I have no income in thailand, nor do i transfer INCOME to Thailand, just savings, I know, i have NOTHING to tax in this country. If otherwise, please prove the opposite.
Enjoyed our chat on the phone yesterday. Keep hammering!
Thanks for the report. Standing by
All they really should do is increase the tax hotels collect on bookings, and the tax landlords pay on income properties. Raise rents by that percentage, and provide a tax credit for Thai nationals if they incur those fees.
It's just all the BS puts me of about Thailand
I don’t think the Tm6 has anything to do with the DTV. The form is just used for “ census and monitors the comings and goings .” However the confusion is going to cause a lot of concerns. Belize and other countries have similar forms to go in and out of country. Thailand is just putting all of it online less paper. Hopefully they will not put a tourist tax but those of us who have long term visas are not considered tourists. Right?? Anyways great video as always ❤❤❤
“Don’t touch the event horizon” 😂❤
The SMART PHONE is the Mark of the Beast throw it away and use Smoke Signals.😊
The only Government department in Thailand (aside from what is vehicle related) I deal with is Immigration. If Thailand wants to order me to do something, even something to do with taxes, I assume it would be immigration that advises me. Short of me being told to do something about taxes by the only drpartment of Thai government that I interface with - immigration - then I have no tax issues to deal with in Thailand - end of story. As for tourist fee, a fee is a fee is a fee is a fee...and a tax is a tax is a tax is a tax. No one has told me I have to pay either.
That's where you go wrong. Immigration has nothing to do with taxes. If you are a resident, it's your responsibility to inform yourself about your duties as a resident, and that includes paying your taxes. If you don't pay your taxes while you should, you are in the hook for hefty fines. And don't forget that Thailand interchanges information with other OECD members through the CRS system since 2023, so you might run into problems in your home country. Inform yourself. Me myself, for the same reason, won't be spending more than 180 days in Thailand in order to be not a tax resident.
@@hyperskivo8426 I haven't heard anything from Thai Elite who have 1,000's of clients who live here over 180 days. Not a single message about tax. I bring in savings and income that has already been taxed therefore there is no tax to pay (as per the DTA) and no tax return to file. Until someone tells me otherwise that is how it shall remain. Are you confusing this with untaxed income?
@@hyperskivo8426 You are all over the place here and I am not wrong,. Residency is a legal status in Thailand that I don't have. My country (USA) has a tax treaty with the USA it has not been abrogated. It covers me. My US tax situation is fine. Again, my relationship with Thailand legally is via one channel only - the police - in this case Thai Immigration. They have not advised me of any changes. Nor will they. I am sure of it. Been here 8 years unworried.
@@ronnieo9571This is not financial or tax advice, just an educational discussion. I’m a tax accountant working legally in Thailand.
You’re way off thinking Immigration has anything to do with taxes. Immigration deals with visas and letting you stay in the country, but taxes? That’s the Thai Revenue Department’s job. Just because Immigration hasn’t said anything to you doesn’t mean you don’t have to pay. Like anywhere else, it’s on you to follow tax laws.
If you stay in Thailand for 180 days or more in a year, guess what? You’re a Thai tax resident. Doesn’t matter what visa you have or if you never “registered” as a resident, the tax law applies based on how long you’re here. A Double Tax Agreement (DTA) between Thailand and the US doesn’t mean you’re off the hook. All it does is prevent you from paying tax on the same income twice. If Thailand’s tax rate is higher than what you already paid in the US, you’ll owe the difference.
If your pension is government-paid, like Social Security or a military pension, it’s usually tax-free in Thailand under most DTAs. But if it’s a private pension, Thailand might tax it, even if you already paid tax on it in the US.
Thailand taxes worldwide income if you’re a tax resident, but only if the money is remitted to Thailand in the same tax year. That includes capital gains on stocks. Unlike the US, Thailand doesn’t care whether you held them long-term or short-term, everything gets taxed the same under these brackets:
0% on income up to 150,000 THB (~$4,300)
5% on 150,001 to 300,000 THB (~$4,300 to $8,600)
10% on 300,001 to 500,000 THB (~$8,600 to $14,300)
15% on 500,001 to 750,000 THB (~$14,300 to $21,500)
20% on 750,001 to 1,000,000 THB (~$21,500 to $28,600)
25% on 1,000,001 to 2,000,000 THB (~$28,600 to $57,200)
30% on 2,000,001 to 5,000,000 THB (~$57,200 to $143,000)
35% on anything over 5,000,000 THB (~$143,000+)
Let’s say you sell stocks in the US and make a $100,000 profit. In the US, long-term capital gains tax is 15%, so you pay $15,000 to the IRS. But in Thailand, capital gains get treated like regular income. If you bring that $100,000 into Thailand in the same tax year, here’s what happens:
$4,300 at 0%
$4,300 at 5% = $215
$5,700 at 10% = $570
$7,200 at 15% = $1,080
$7,100 at 20% = $1,420
$28,600 at 25% = $7,150
$42,800 at 30% = $12,840
Total Thai tax? $23,275. Since you already paid $15,000 in the US, Thailand gives you credit for that, but you’d still owe $8,275 here.
If you don’t bring that money into Thailand in the same tax year, then Thailand doesn’t tax it.
Since 2023, Thailand has been exchanging financial data through the OECD Common Reporting Standard (CRS), so the Thai tax office knows about your foreign bank accounts, investments, and even your US brokerage profits. If you’re a tax resident and don’t report your worldwide income, you’re setting yourself up for fines, penalties, or even visa issues if Thai authorities decide to crack down. The IRS also gets reports from Thailand, so if you’re playing games with your taxes, you might end up with problems on both sides.
Maybe you’ve skated by without paying taxes so far, but that doesn’t mean you’re in the clear. The Thai tax office isn’t like Immigration, they don’t warn you first, they just send you a bill and fines if they decide to go after you. You’ve been here for eight years, staying over 180 days a year, so you probably already owe back taxes. If your US tax situation is fine, great, but that doesn’t mean your Thai tax situation is. If you don’t want to deal with Thai taxes, stay under 180 days a year, but don’t assume that because no one’s knocked on your door, you don’t owe anything. That’s not how tax laws work.
All this crap you could have told us in 2 minutes......
Hi Benjamin... I like your videos and I like your no BS attitude. Do you have offices in Pattaya?
I would vote for renaming the "tourist fee" (300 THB) as "visitor fee" or "three beers fee" or "pimp fee" or "TM6 digitalized paper fee" ;-) ... because if applied, it will be for all non-thai (not only "tourists"). My only problem, is to pay digitally before entering Thailand...I want to pay cash at airport arrival.
like most countries, it mostly comes down to where you are domiciled (live) to be considered a resident for tax. That seems to be the bottom line
Spot on!!!!
Well said Benjamin
The proposed ETA kinda sounds like the TM-6 to me.
I agree emphaticlly that a tourism tax is should not be within the purview of the Immigration Department. If imposed the Tourism Ministry need to undertake their own arrangements for the taxa collection. Payng the fee at the time of ticketing is the better option as the ticket issuers/airlines can then pay the Ministry. Paying at the time of arrival is not possible unless as the Ministry have no collection facilities there, and if they were to implement this it would merely slow down the arrivals process for tourists. Yet agin if the airlines and agents were to collect the fee they would need to click the ticket to cover their overheads. The Tourism Fee is a complex issue and it seems the Ministry of Tourism and Sport have -once again- put the cart before the horses and are now wondering why the cart stays still. I'm betting the whole issue will never see real daylight.
Absolutely.. yes they have.....!
Super amazing! 1 day left and next day right…………😅
Show us the codified law, too true, unfortunately merchants of chaos, especially foreigners getting excited over the mere mention of the word TAX.
Best case they use the same app as Australia or Singapore. But I fear they use something terrible like India, Sri Lanka, Vietnam ... all of which 💩
I'm retired going else where to complicated for me. I looking for a good place to go maybe PI
thx
What happened to Move Forward and Mr Pik
The TM6 going digital, will you half to fill that out online before you get your flight to Thailand, or after you get your ticket, or is it done at the airport, or on the airplane? I have a desktop here at home, but I don't have a smartphone. Only a flip phone. Of course you did say this won't start until perhaps May of this year, but I'm not real sure if I can travel with just a flip phone,,,,,,,,,,,,,,,
It's going to ask you for your flight details, proof of address in Thailand etc as you did previously with TM6 card you filled in usually on your flight inbound.
@@Zorro175 But that still means you must buy your ticket first and then go online before you leave. With the old card you just filled it out on arrival. No need to go online and my experience with the old E Visa website was an absolute nightmare. Plus I just have a flip phone, so I can't show them my TM6 card online when I arrive. They have done without it for a number of years now. That's just the way it should be today. I know this, I will be making less trips to Thailand because of all this digital nonsense.,,,,,,,,,,,,,,
@@ddyeo503 I agree, I'm not advocating for this either, this will put quite a few people off.
Who's keeping track of the sponser mony that love clowns are sending their teeraks?
a very good question.
Good questions. Another thing to me that sounds kinda weird is let's say you bring a million dollars into the kingdom, but you only stay for 179 days? Is the Thai Tax Revenue Dept. just going to be okay with that no matter how much dough you parked in or spent in the nation? Doesn't make much sense.
The evisa is still required!
If and when the Thai government passes a new law requiring expats to pay income tax will expats be officially notified of their obligation?
I always paid Thai income tax whilst working here. The Work Permit will necessitate that salary and Taxation is shown in full clarity and paid accordingly.
@@senianns9522 Thanks for reply. My bad for not being clear. I'm a nonworking, retired expat who receives social security. I'm wondering if I will receive official notification informing me that I might be liable to pay income tax. The lack of clarity on this topic is just unacceptable. Cheers!
There is no easy answer but if you don’t work I guess this is not an income you receive so if you were to file a PND91 you may need to put that in another category. To get details and make sure on your point check a local tax thai lawyer they would be able to bring some clarity to it on how to deal with this if you need or not to file tax. This is not necessarily expensive, I paid about 2K for a consultation last time and still in touch by text to clarify points.
On whether or not they would notify all foreigners, my guess is no they won’t as we are to know about the law and if this becomes a law that’s actually our duty to get informed about it (not to worry I am sure it will be in the news and shared widely as the past year the new interpretation of the law created so much waves).
I have the non-immigrant-O retirement status. In March 2024, I went to our tax office with my Thai wife to get this TIN number. The officer there said that if I have no income in Thailand, I don't have to pay taxes. Therefore, I don't need a TIN. I assume that I will be informed if this changes.
Iam a Swiss Citizen. A Surprise Letter Came from my Swiss Bank the said need my Thai TNI otherwise if they not get my TIN Number my Deposit and Rent Account will be froze So went to the local. Tax Office had to fill out some Papers.
Had payed my Retirement Income Tax for the Year 2024… ..
I like your invention/use of a new word: HyperBollox - utter bollox, absolute rubbish.
ref Rogethesaurus, Roger Melly the man on the telly, Viz comic, Geordie land, UK. Fnarr fnarr
I'll be looking at Malaysia's my second home program... Thailand is way behind
Tm6 is more about statistics
It’s a promissory note…
Benjamin "restricted occupation" Hart
No law? What do you mean? Stay 180 days and more your a tax resident and must file. I don't get your stance.
The stance he is making is that TAXATION LAWS HAVE NOT ACTUALLY BEEN MADE in respect of the Taxation Dept discussion paper that suggests a 180 day stay or longer will require tax reporting..
Not necessarily, depends of your situation as shared in the video and previous ones on this channel, you may or may not need to file, and recommend to consult a tax lawyer operating legally in Thailand (not a foreigner). If you were already filing / have job in Thailand, work permit and such of course nothing changes you file as usual…
As Benjamin has repeatedly stated. Thai Tax Laws remain unchanged at this time.
Globalists is spelled J E W S
I am not a Jew. But what you say is racist, but also incorrect. Globalists are socialist/communists
Class comment, especially if you have any idea what yesterday regarding 80 years was ????
Europa the last battle! Watch it all 12 hours of it !
They are not semites, but are Khazar impostors, as denoted in Revelation 2-9 & 3-9.
@@neilgillespie4498 it's a Jewish propaganda job, but Europa is worth a watch.