Taxes … more fuel to the fire!!

[Jun]

I imagine the declaration you sign at the bottom of the tax return would say something like:

"I declare this tax return to be complete and accurate. In the event that this return is audited, I agree to supply all supporting documentation requested. If this tax return is found to be incorrect, I understand I may be subject to fines of 500% of the tax due, jail sentences & I my permission to stay in Thailand may be permanently cancelled leading to immediate deportation"

The penalties section won't mention "or a tax agency can smooth things over for a suitable fee".

[billyhouston]

All UK government pensions, which includes the NI pension, are always taxed in the UK irrespective of the domicile or tax residency of the individual.

[Gaybutton]

I imagine

That's just it. We're imagining how we're going to face a problem that doesn't even exist yet. This might happen. That might happen. Meanwhile so far nothing has happened.

I fail to see much purpose in speculating about a problem that could happen, but has not happened, along with speculating about how we'll deal with it, potential penalties, or anything else.

In my opinion, if and when the problem occurs and we know what we're dealing with and what we're facing, that's the time to deal with it realistically and make decisions based on facts, not speculation and guesses.

[ceejay]

The Revenue Department issues English versions of tax return forms and guidance for completing them. 2023 is the most recent.
https://www.rd.go.th/english/65308.html

[Gaybutton]

tax return forms and guidance for completing them.

I looked at item 6, which seems to me to be the only one that would apply to us expats.



The right side checkbox says: Taxpayer 65 years of age or older. The part in parentheses says "including", but it doesn't say only disabled people.

Maybe I'm wrong, but since that is under Income Exemption Entitlement, then people 65 year old or older don't have to pay an income tax in the first place, whether you are disabled or not. I have a feeling many of those reading this fall into that category.

If I'm wrong or misinterpreting, feel free to correct me.

[2lz2p]

If I'm wrong or misinterpreting, feel free to correct me.

There is an asterisk for this item which has the following:

* Accumulated income exemption for disabled person or disabled person who is a foreigner under 65 years old or taxpayer over 65 years old (including disabled person and disabled person who is a foreigner) from all types of income must not exceed 190,000 baht.

So it appears any amount over 190k baht would be taxable if it is not excluded by a dual tax treaty

[Gaybutton]

it appears any amount over 190k baht would be taxable if it is not excluded by a dual tax treaty.

I missed that. Looks like you're right. Even expats making exactly 65,000 baht per month would exceed that in less than 3 months.
Oh, well . . .

[Jun]

https://www.expatica.com/th/finance/tax ... x-2172836/

Extract"The first ฿150,000 of income is exempt from income tax. This increases to ฿190,000 for people aged 65 or over."

Obviously this article refers to income remitted to Thailand. With no clarity on changes to that, they can hardly update their site.

[Gaybutton]

Extract"The first ฿150,000 of income is exempt from income tax.

The sad part is that is actually more than a great many Thais make in a year while it is less than many expat pensioners get each month.

[Jun]

The sad part is that is actually more than a great many Thais make in a year while it is less than many expat pensioners get each month.

Assuming working 5 days per week, that's just under 600 baht a day. I believe it's not uncommon for some of us to do our bit by giving selected young men substantially more than that for services rendered.
However, at least in my case, most of them are from Cambodia or Laos. I guess the Thais don't need the money that badly these days.

Also, before getting too sympathetic, it's only the income disparity that makes such services affordable for so many farang.