Thailand to tax foreign pensions???

[bkkguy]

I work for a charity whenever I’m in Pattaya and contribute funds draining my bank account. Its name is The Asian Boys Appreciation Society.

I thought that was known as the white man's burden. or noblesse oblige, but I am sure it is "hard" work for you anyway

[latintopxxx]

TABAS,,,even has a nice ring to it...put it on t-shirts...

[homeseeker]

Formally speaking, everybody who stays in Thailand for more than 180 days a year is counted as Thai resident for tax purposes. This includes people who stay on retirement extensions visas. All foreign money brought to Thailand are taxable in Thailand if you are Thai resident for tax purposes. There was a loophole that if money stayed outside Thailand for more than 1 year, they are exempted from taxation. This loophole is now closed. It remains to be seen how expats will be treated in this situation. Double taxation treaty or not, imagine you need to bring several million baht to buy condo. How are you going to prove that it was taxed in your country in previous years? Just imagine to deal with Thai beaucrocracy...

Yes, it is correct that pensioners on retirement visas are considered Thai resident for tax purposes. However, over a couple of decades or so the Revenue Dept in Thailand has a matter of practice not expected or asked that such retirees if -subject to a double taxation agreement which most are- to either file tax returns or to pay tax. Many instances of pensioners here in Thailand going to different tax offices and been sent away and told they are not expected to file or pay taxes.
Emphasis that this is generally speaking a practice of the Revenue Dept in Thailand.

That is why many web sites have and still do advertise that Thailand is good to retire as foreign retirees do not need to pay tax on overseas monies. etc

Now of course some such pensioners have persuaded the tax offices to accept their tax returns and pay tax on a voluntary basis:
"up to you"

New rules will come into force from 1 January 2024 and we await if it changes anything for pensioners who reside here in Thailand more than 180 days.

But to repeat as matters currently stand pensioners are not expected to file tax returns or pay tax.