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Everything posted by stat
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Apparently you do not know that it is superich and not superpitch... In addition if there is a half baht difference you have found the infinite money glitch as the spread between buy and sell at superrich is only 6 satang. So go exchange euro for Baht at the unnamed Gold shop and then exchange the baht back to Euro at SuperPITCH. I bet they also sell genuine gems for half the market price...
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On US Stocks not even a thai Tin is needed just the signed W-8BEN to get the 15% rate. Mind you every country has its own rate so it is not 30% for non US stocks. Like I stated in my post I received german dividends i.e. dividends paid by German companies taxed by German IRS with withholding tax as a non German tax resident. Everyone has to make up his mind if it is worth the hassle (depending on the amount at stake) to get the CoR. For me it definetly is worth the hassle.
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Like I said : Tax certificate is needed for the German IRS in order to get the reduced witholding tax of 15% instead of 26.375% for German dividends. I was not aware of this while I was in TH. So even if you are a US or UK guy and hold German (or some other countries) shares you will need the tax certificate in order to get a reduced witholding tax according to DBA. The US has a better system where I get the 15% rate semi automatic with the w8-BEN form.
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Tax certificate is needed for the German IRS in order to get the reduced witholding tax of 15% instead of 26.375 for German dividends. I was not aware of this while I was in TH. Actually I did not have any assesable/taxable income so I would need to resort to the donation or claim to have transmitted funds in the same year etc (which I did not). I hope I could declare some peanuts and pay 2000 Baht income tax +2000 baht penalt etc. Is is beyond belief that TH only issues tax residence certificates when you actually have paid PIT. All countries I know offer tax certificates when you have been a tax resident so 180 days in TH should do the trick. If I am missing something and someone knows of a way of get a tax certificate without having paid PIT and a tax ID pls let me know. I can easily prove my stay in Thailand with 90 day reports and passport stamps. I have been in contact with several agencies, lawers and only a small percentage understood the problem, the others said the only way to get a tax resident certificate is by paying income tax and getting a tax ID which amounts to 40.000 Baht plus. Tax certificate can only be issued by TRD to my understanding and to the understanding of the German IRS. I have not heard of any tea money involved in this endeavour so far if possible I would greatly appreciate any hints. NB I am not in TH currently otherwise I could get the docs myself. Thai RD wants yellow book photocopy, rental contract +passport pages etc not sure if they will demand anything besides this or claim rental contract needs to be in TH. Just the pp pages should be enough to prove my stay but TiT. Thanks for any help!
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Does anyone know how long in retrospect you can hand in a tax declaration in Thailand? I am planing to hand in a 2022 tax declaration in order to get a tax certificate. Is it possible to do that in 2026? Background I will be in TH in 2025 or 2026 if the ww income tax debacle does not come to pass in 2024 or later years. I think I would have to pay a small donation to the TRD. It is my understanding as I did not have any thai assesable income in 2022 that this is the only way. Thanks!
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From a western perspective I agree it would take years to implement rules and regulations that could be upheld in a law suit in a western court. From a thai perspective it could be done instantly as it is to the discretion of the tax officer to interpret the missing rules. If you do not like somchai decission you could always go to the thai courts. As Troubleandgrumpy mentioned several times TiT they do things different here.
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Taxation of foreighners in S/E Asia?
stat replied to swissie's topic in Jobs, Economy, Banking, Business, Investments
Malaysia, Philippines, Nicaragua, Belize and others have no ww income taxation. Laos, Vietnam, Cambodia, Indonesia do have ww income taxation (in theory). -
There are way more countries with ww income taxation then countries with territorial taxation. Nearly the whole of Europe taxes ww income. Vietnam, Laos, Cambodia, Indonesia also at least according to their tax laws. I think you are confusing ww income taxation with taxing their citizens regardless if they are tax residents in said country. Only Erithrea and US tax their citizens on ww income even if they live abroad.
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Boston tea party is a different ballgame as the US guys where paying a foreign government to reign their country. If I or Somchai go to live in the US or the UK nowaday or pretty much any country I have to pay taxes in said country without any representation whatsoever. Do I like to pay taxes in TH? Hell no especially for the low service the government provides.
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I read a lot of talk about pensions in this thread. I hope you are all aware that if you do not remit your pension at all to TH then you should not have to pay any PIT IMHO. I am aware that TH has in a lot of cases the right to tax as in the Thai German DTA for example but they never asked and never taxed any German state penion AFAIK. Maybe this will change in 2024 but so far I have heard nothing about it. If by any means you have any savings, transfer the savings or get a loan by a relative. All should be good as long as you do not transmit your pension to TH.
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I beg to differ again. The withholding tax is paid by the individual and NOT the company. Example if you live in a country with no dba with the us you pay a higher withholding tax as if you were living in a country with a dba with the us (15% in that case). That is what the w8-Ben is made for. Your accountant maybe be refering to a specific case or he has not a full understanding of witholding tax, sorry to say. It can be very complicated to do withholding tax reclaim in some cases next to impossible. Example: https://www.spglobal.com/marketintelligence/en/mi/research-analysis/the-path-to-unlocking-unclaimed-withholding-tax-reclaims.html
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Thanks! You are on to smomething as it is always important to look at both the taxes paid by the company and also the taxes the individual has to pay before investing. UK shares have the big benefit (vs for example german 26.3% or US shares 15% which incur withholding tax) that they incur no withholding tax, which is great when you are thai tax resident or no resident at all.
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Thanks for all the feedback regarding the UK tax situation! I think you "only" pay this 8.xx % as long as you are a UK tax resident. UK and Ireland +SG do not levy any withholding tax on dividends. Ireland is kind of strange cause it happens sometimes there but UK should be safe IMHO. Withholding tax is only for foreigners regarding the country of origin of the company. So a UK guy along with any other guy should not have to pay any withholding tax on a UK dividend if he is not a tax resident in the UK (for that year).