A brand-new YouTube video published by accomplished speaker Hailey Hicks, director of HH Premium Visa Consulting and based at San Diego State University in California, has actually provided to Thailand’s concerned expats nearly one hundred percent peace of mind that they require not sweat. She likewise actively markets the Thailand Elite visa, whilst explaining that this offers no unique defense on the earnings tax front.
Under the heading “5 Myths about Tax in Thailand“, she soothingly assures that the January 1 beginning point will not use to most expat tax citizens, specifically those residing in Thailand for a minimum of 6 months a year. They will not be taxed on cash sent out from one individual account abroad to one in Thailand as, we are informed, that is just moving cash in between accounts and is not “assessable” earnings. Therefore they will not be taxed on money sent out to buy Thai home. Nor will overseas pre-taxed pensions be taxed in Thailand, perhaps since of double tax treaties (which are extremely quickly discussed).
The video argues that the brand-new guidelines are created to capture abundant Thais and a handful of immigrants who have actually been making use of tax loopholes in the past. However is the calming message really real? All of us hope so. However it needs to be yielded that there is no proven paperwork supplied, just a screenshot of the bald Thai Earnings statement last September. Which will not get you extremely far.
Substantially, Thailand Opportunity (which owns Elite) mentioned in November 2023, through consultants Hawryluk Legal, that “presently there is no difference in between profits and cost savings for tax functions,” which recommends an extremely various analysis from that in the San Diego video is possible. Possibly Hailey understands something the rest people do not. However it might be smarter to wait and see.
