Thread: Thai revenue tax for farang residents
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02-06-25 12:47 #62
Posts: 4314Anyone here live in Thailand and is filing Thai income tax for the first time?
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01-04-25 18:09 #61
Posts: 4682I only pay attention to those who are authorized to provide tax advice: Worldwide!
You will not be hearing about my personal tax situation in any country on a site mostly populated by International Tricks. I am interested in the subject of international taxation. But if an individual thinks they can single me while being unqualified to provide advice about my personal tax situation. I will point that out. I have pointed that out. And I will continue to point that out.
Nothing written in this thread should be considered: Tax Advice!
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01-03-25 02:03 #60
Posts: 4314Originally Posted by SubCmdr [View Original Post]
Your comments sound like a snowflake, something about Thai income tax seems to trigger you.
My point here is to alert Farangs of the new tax regulations. What they do about it is up to them. I won't be filing in 2025 because I was not a tax resident in 2024. That may change this year.
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01-02-25 17:56 #59
Posts: 4682Two illegal acts in Thailand?
First he writes:
Originally Posted by Explorer8939 [View Original Post]
Originally Posted by Explorer8939 [View Original Post]
The information being provided by this poster is completely inaccurate because he does not know my personal tax situation. He has gone from saying I am not remitting any money into Thailand to "since you are making serious money outside of Thailand and bringing it into Thailand".
Originally Posted by Explorer8939 [View Original Post]
I plan to follow the advice of my Tax Advisor who is registered and licensed in Thailand to give Tax Advice, Provide accounting services, and legal counsel.
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01-02-25 12:02 #58
Posts: 4314Originally Posted by SubCmdr [View Original Post]
The question is whether you, or any significant number of Farangs, will actually file a Thai tax return this year.
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01-02-25 01:59 #57
Posts: 4314Originally Posted by SubCmdr [View Original Post]
My point is that a lot of Farangs will have a tax liability this year. Whether they file a tax return or not is a different question.
And to take advantage of a DTA, you have to file a tax return.
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01-01-25 17:27 #56
Posts: 4682I do not live in the village. I am posted up in Pattaya. If I need tax advice I have a tax professional that is familiar with my personal tax situation. I am not relying on the opinions of International Tricks who say things like this about me:
Originally Posted by Explorer8939 [View Original Post]
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01-01-25 13:39 #55
Posts: 4314Here is a fairly common scenario for Farangs living in the village, and the problem with the Thai tax code.
A Farang is living off a small pension of $10,000 a year, and his home country has a DTA with Thailand. I am using a small income, a higher income makes the problem worse. The $10,000 is remitted to Thailand and is accessible income.
The Farang has a personal deduction of 60,000 baht, and an old age deduction of 190,000. So, his taxable income is around 200,000 baht, which is taxed at 5%. Which means the Farang legally must obtain a tax ID, file a tax return, and hand money to the Revenue Dept.
But, wait, there is a DTA.
The problem is that if the Farang already paid taxes on the $10,000 in his home country, that tax payment must be shown in his Thai tax return as a credit, not a deduction. So, his taxable income doesn't change, he has to offset his Thai tax liability with the credit from his home country. My point here is that there is going to be a significant struggle in applying DTA tax credits in this manner, I doubt that most Farangs in the village are up to it.
Worse, if the Farang is living off $10,000 a year, they probably are not paying any taxes in their home country so the DTA does not apply.
My point is that most Farangs living in the village are going to have a Thai tax liability. Some may be married, which gives them another deduction, but most are remitting more than $10,000 a year, which increases their taxable income.
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12-22-24 08:08 #54
Posts: 4682Why are so many people worried about my tax situation?
A statement has been made by a poster here that I am going to be deported for tax evasion. That is a defamatory accusation punishable under Thai Law. Good for that person that this is an anonymous forum despite the claims by others that they are able to find me at will. Everyone's tax situation is different and depends upon so many things that cannot and should not be disclosed in a pubic forum. So, it comes back to why are not people focused on their own tax situation and reporting what they are going to do?
The Cmdr tax situation
I have received competent tax advice about my tax situation. I am ready to comply with all laws and regulations in the Kingdom of Thailand.
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12-20-24 20:19 #53
Posts: 4682Know what you are talking about before you address The Cmdr
You have not factored in your Thai taxes,
will you have a paper trail with having to report renters' information to immigration.
You'the be paying at least 25% not counting any money brought over.
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12-20-24 04:07 #52
Posts: 4682Know what is income and how it is taxed
Is money that is borrowed then remitted to Thailand taxable in Thailand?
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12-16-24 13:45 #51
Posts: 4314I have decided on a tax strategy for 2025:
I will stay in Thailand most of the year and become a tax resident. The only money I will remit to Thailand will be excluded from Thai tax due to the US DTA. And I will use US credit cards where possible.
This means that if I don't file a Thai tax return in 2026 for 2025 income, and the Revenue Department comes looking for me, I will have documentation showing I don't owe anything.
The worst case is that the Immigration Department *could* require a Thai tax return as for long term visa renewal. If that happens, I will file a tax return showing nothing is owed.
Assuming the Immigration Department doesn't issue that requirement, my plan is to not be a tax resident in 2026, as I will alternate my residency status every year.
Bottom line: I won't travel so much next year. I will start the year in South America, and come back to Thailand after the worst of High Season is over, maybe in March.
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12-14-24 13:48 #50
Posts: 4682[Deleted by Admin]
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12-11-24 13:59 #49
Posts: 4314I am considering three strategies for dealing with 2025 taxes (no problem with 2024 taxes, as I am not a tax resident).
First option is to travel abroad 180+ days in 2025. I will spend January in South America, so I can put off a decision for at least a month.
Second option is to ignore the new tax regulations and stay in Thailand.
Third option is to stay in Thailand as a tax resident, but only remit from my home country funds that are excluded from taxation in Thailand due to a DTA. This means that I have to live off my savings in Thailand plus the small amounts I remit from home. Plus live off credit cards, since those transfers aren't accessible funds.
This last option requires some transfer of funds into Thailand before the end of the year.
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12-02-24 00:29 #48
Posts: 403Taxes? Hans, Boobie, I'm your white knight!
Why is everyone talking about taxes? Why is there a whole thread on taxes? Why by Beelzebub's balls does any of this exist? This is a forum on SEX. Sex I say!
Who cares if any of you lucky fucks have to pay taxes in Thailand? You're lucky enough to be living in Thailand, having unfettered access to all the amazing Thai pussy and you want to jibber jabber on and on about taxes? By Gandalfs beard! I actually have to pay taxes to uncle freakin sam that sent me to die decades ago. So who's the lucky one?
Look, just get over yourselves, enjoy that you're living in paradise. Pay the measly 10 bucks you owe in taxes to the Thai government or whatever and enjoy the pussy, and at this horrendous Christmas time, watch the greatest Christmas movie ever made: Die Hard!
Yippie Ki Yay motherfuckers! Ho! Ho! Ho! Welcome to the party pal!
By the ballsack of Mephistopheles Himself, what a bunch of cheapskates. How much can Thai taxes be when you're all rich enough to be partying it up in Thailand? I'm paying thru the nose here in the hellhole that's America with taxes, medical bills, rent, etc. You guys are practically living for free in Paradise itself. I can't even find time to get back to Thailand, much less money. John McClane would be very disappointed in you.
Listen to John McClane:
"You know what you get for being a hero? Nothin'. You get shot at. You get a little pat on the back, blah, blah, blah, attaboy. You get divorced. Your wife can't remember your last name. Your kids don't want to talk to you. You get to eat a lot of meals by yourself".