The Swiss abroad must now pay taxes on their AHV pensions in Thailand. This was the result of clarifications provided by the local authorities regarding the new tax law. This has been in force since the beginning of the year.
Many of the 10,400 or so Swiss expats who will be living in Thailand by the end of 2023 have called for help to clarify the situation.
As a reminder, the tax reform drawn up by the Thai government stipulates that since January 1, 2024, resident foreigners, i.e. those staying in Thailand for at least 180 days a year, have had to pay tax on foreign income transferred to the country.
by BezugssystemCH1903
3 comments
This isn’t new. Thailand has always had remittance-based taxation: If your income comes from outside of Thailand, you only pay tax on money that is transferred to or spent in Thailand. But until last year, if you kept the money outside Thailand for a year (you don’t remit it in the same year as you earned it), there was no tax, even if the money was remitted to Thailand, as it was considered savings, not income. From this year, all money is taxed when remitted, no matter when it was earned. Except if the money was earned before 2024, then it still falls under the old rules.
In other words, someone spending their pension money in Thailand as they earn it (same year), has always had to pay tax on that money.
Pay the tax boomer scum! Big win for both Thailand and Switzerland.
also albania is 0% tax on pension if you want to stay closer