Trump 2.0 vs. Retirement Visas in Thailand. What Retirees Must Know (May–June 2025 Update) In early 2025, two major developments emerged that could significantly impact American retirees living in Thailand. On one side, the U.S. government is advancing Trump era tax reforms under what is now dubbed “Trump 2.0.” On the other, Thailand is easing its tax policies on foreign income transfers. Together, these changes create new opportunities but also new decisions for those living abroad. U.S. Update: “One Big Beautiful Bill” Moves Forward  On May 22, 2025, the U.S. House of Representatives passed the One Big Beautiful Bill Act (H.R.1), an expanded successor to the 2017 Tax Cuts and Jobs Act.  This bill introduces a Residence Based Taxation (RBT) proposal, allowing American citizens residing abroad to opt out of U.S. income tax so long as their income is exclusively from foreign sources.  If passed by the Senate, this would mean that American retirees in Thailand would no longer need to file or pay U.S. taxes on foreign income. However, this remains a proposal and must still pass the U.S. Senate before becoming law. Thailand Update: More Flexibility on Foreign Income Tax As of May–June 2025, the Thai Revenue Department is drafting a new Royal Decree to relax taxation rules on income remitted from abroad. Key provisions include:  Foreign income remitted within 1 or 2 years from the year it was earned will not be taxed in Thailand.  Income remitted after this grace period will be taxed under normal progressive rates (5–35%).  This policy aims to encourage foreign capital inflows and support domestic investment.   Comparison: U.S. and Thai Tax Landscape Issue U.S. Thailand Legal Trend Moving toward exemption on foreign income (RBT) Offering grace period before taxing foreign remittances Key Requirement Must have no U.S. source income Must remit income within 1–2 years of earning it Risk If RBT fails, taxation and filing requirements continue Late remittance leads to full taxation Practical Advice for Retirees in Thailand 1. Watch the U.S. Senate closely RBT would be a game changer, but it’s not yet law. 2. Plan your remittances strategically  Use the 1–2 year window to avoid Thai tax. 3. Consult an international tax expert  Ensure compliance and avoid double taxation. 4. Keep assets transparent FATCA and CRS rules remain in force, and undeclared holdings pose serious risk. Final Thoughts For U.S. citizens living in Thailand on retirement visas, 2025 is shaping up to be a critical year. If the U.S. adopts RBT and Thailand formalizes the remittance grace period, retirees could find themselves in the most favorable tax environment in decades. But until these reforms are officially enacted, careful planning and awareness remain essential. Victor Wong (Peerasan Wongsri) Victor Law Pattaya/Tax expert Email: <[email protected]> Tel. 062-8795414