Thailand's Revenue Department is likely to derail before the train even leaves the station.
The sub headline:
Thailand’s revenue departments has released new guidelines which will see all income from abroad taxed as personal income tax regardless of whether it was earned income or savings.
Surely this tax grab has not been thought out.
It suggests that tourist's that send money from abroad will be taxed. At least that's my read on their statement.
Would they apply this tax to all foreign ATM transactions? Would Western Union or similar cash points be taxed?
There are a lot of questions about their plan. I'm assuming most foreigners living in Thailand are there as tourists.
I have my Canadian pension deposited directly to a Philippine bank. If my memory is correct I had to get a TIN number to open the accounts. A TIN is needed so the bank can remit 25% of the interest income on your account to the tax man.
There is a Tax Treaty between Canada and the Philippines. It contains the usual dual taxation stuff for earned income. Pension income is treated differently. Canadian Pensions are taxed in Canada and Philippine Pensions are taxed in the Philippines.