Worldwide Taxation Is Coming to Thailand

Thailand might introduce worldwide taxation, and this is not good news!

Thailand is a popular country among expats who are looking to move a tax efficient place. Until recently you could move to Thailand and not pay taxes on your foreign income that you don't bring into the country.

However, this rule may be about to change for the worse very soon. Thai government is thinking about implementing worldwide taxation for all its residents, meaning that you will need to pay Thai taxes on your worldwide income, whether you bring it into Thailand or not.
This may make Thailand less desirable among expats who were considering this country for tax purposes.

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[Berri]

Pretty outrageous to have to pay tax to a country where you cannot own anything and foreigners with Thai families have absolutely no security.

[kdjeffery]

That's disappointing, the tax friendly options in Asia are becoming fewer each year.

[matthewnirenberg]

Honestly getting sick of all these places becoming "entitled and greedy" going "tax, tax, tax". 0% PIT or nothing. We need more places with 0% PIT. ALL taxation is THEFT / EXTORTION.

[thomasridenour]

When it comes-I will go. Pure and simple. I have been here too long as it is. This will bite the greedy Thai's in the butt.

[qartheros]

It will be years before this comes in. They haven't even figured out how they're going to enforce the last changes yet. If it does happen, and it's a big if. This would seriously screw over a lot of elite Thais who have offshore wealth (many of whom seem to be in government).
The recent changes to enforce taxation on remitted income were fair. I don't see why ferangs feel so entitled that they should pay no tax at all when they live here permanently. Just because you rent an expensive villa from another rich person who doesn't pay tax either, doesn't mean you're making any special contribution to society.

[sergeboudreault]

Thanks but no thanks. That's the reason why we are out of Thailand within a few months and moving to South American.

[herbertvonsauerkrautunterh]

What the hell is world wide taxation? Tax is theft as we don't benefit from governments taking what is not theirs.
My wife is thai and we had planned to retire early there a we can afford that but if they want more tax from our already after tax income then Thailand will be off the books, even as a holiday destination.

[albertinsinger]

Thailand at 35% top tax rate, does not have a competitive tax rate. Even though Thailand wants wealthy foreigners. They are basically not encouraging wealthy foreigners to settle in Thailand both with their tax system as well as their crazy visa system . The visa system is simply a big No No. it does not give for life visa’s, it does not let people work. The visa rules seem to change every year to some other undesirable visa system, 90 day reporting is like you are reporting for parol. Thailand simply is now not a country to spend more than 2 weeks Holliday in.

[brp]

Malaysia and Thailand are done. Hong Kong and Singapore are the only true "tax havens" in Asia but too expensive and not retirement friendly.

[thomashusted]

So somehow Thailand is going to track down income generated on the other side of the world in another country that is not even transferred into Thailand and then enforce tax collection on that income. Meanwhile they can’t even enforce the law to wear a motorbike helmet lol!

[CurareDartman]

It ain't going to happen. Tourism is one of the pillars of Thailand's economy.

[Bob-mnob]

Countries are almost no different than any corporation. Allude to every positive benefit while promising nothing. Countries however can take your money and property or imprison if you disagree.

[bbmm]

No it’s not, no chance. Economy and property market is on its arse this would torpedo it to bits. Won’t happen.

[GrahamHeyes-dl]

I have retiree visa for Philippines, as yet Philippines does not tax foreigners who live there, hence I will be returning to Philippines and will be in Thailand less then 179 days, or they change their rules.

[gordon.Jacko]

What qualifications have you got to make these statements? 🤔

[MieJones]

QUESTION: Canadian guy looking to create OffShoreCo in Anguilla with majority control/mgmt and activities in Anguilla owned by CanCo holding? Would appreciate your thoughts thank you!

[Congtrihayankeomut]

Does Thailand have property tax for foreigners?

[KnightlyHouse]

unless there is an outstanding tax agreement with the country in which the money was earned and taxed and if you qualify as a tax resident.

[guyclone]

looks like all the europeans are going to be leaving if that happens, the Americans not so sure since they are already taxed on their world wide $$$

[CreepyTrendMan]

To be clear does this mean that if You earn money from a different country, say real estate gains, portfolio gains you will be taxed? Or is it only for a company you own ? Both are a terrible idea.