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ResourcesCorporate and Tax AdvisoryThailand Tax LawWhen Should Foreign Retirees Truly Worry About Thai Tax Policy?

When Should Foreign Retirees Truly Worry About Thai Tax Policy?

Transcript of the above video: 

As the title of this video suggests, we are posing the question when should retirees be overly worried about all this tax stuff they've been talking about here in Thailand?

Well as I have discussed in other videos, first of all each person's tax situation is unique and different so depending on the underlying facts in your situation, you may or may not need to worry about tax liability here in Thailand. As I have also discussed in many other videos, I think the vast majority of retirees here in Thailand should not worry about this. I especially think that this is the case if you are especially utilizing the O Retirement Visa. The O Retirement Visa extended here in Thailand, at present from our discussions with people we know in Thai Immigration - we're not claiming this is the end all be all authoritative information - but from what we are hearing, it looks as though there is no inclination on the part of Thai Immigration to start dealing with tax documentation in conjunction with adjudicating Extensions of Retirement Visa status here in Thailand. And I've been saying this for some time. When should folks, especially retirees, be particularly worried about tax policy here in Thailand? It is the point at which documentation pertaining to tax becomes part of the extension process for a Retirement Visa. As that does not appear to be the case right now, and it's my understanding it will not be the case any time in the immediately foreseeable or even the relatively near future, it looks to me like at least for now, retirees here in Thailand should sit tight overall when it comes to worrying about tax liability. 

Again, as I've discussed in other videos, everybody's tax situation is different. Therefore, those who feel a bit overwhelmed by this or just want full clarity and peace of mind, it may not be a terrible idea to contact a legal professional, gain some insight and guidance into how best to proceed.