
vibration
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I provided them with copies of the Will, Death Certificates, and all documents showing transfer of the money from the COOP in the UK who handled the Will to Norway and then to Thailand via WISE. I also gave them a copy of the Thai Law Document stating that Inheritance money is tax free up to about 100 million cant remember the exact figure. Will payments from the COOP in the UK, Danske Bank Norway and WISE were shown as Inheritance. Evreything was shown as International Transfer on my Bangkok Bank Statements so I had to specially mark the three transfers that were Inheritance. Quote
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No fortunately not I provided them with copies of the Will, Death Certificates, and all documents showing transfer of the money from the COOP in the UK who handled the Will to Norway and then to Thailand via WISE. I also gave them a copy of the Thai Law Document stating that Inheritance money is tax free up to about 100 million cant remember the exact figure. Evreything was shown as International Transfer on my Bank Statements so I had to specially mark the three transfers that were Inheritance.
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Hello thats great new for you I still recommend if you have not already done so that you contact the Thai Tax authorities and get them to confirm whether you need to fill out a Thai Tax form or not just to be on the safe side. I get the Thai Tax Office to fill out my Tax Return every year and I also get a Certificate of Residence and Income Tax Paid Certificate from them (free of charge) and I use a Scandinavian Tax Law Office in Thailand to send these in to the Norwegian Tax Authirities and it functions great. Best wishes
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Hello all Members I just want to inform that today I visited the Udonthani Tax Office with my tax papers for 2024 and everything went perfectly I declared my Pension Income also Inheritance money sent to Thailand last year. I receive pensions from the UK and Norway and normally I get back all the tax that I have paid on my Norwegian Pensions due to Tax Agreements, the UK Pensions are below the tax free threshold. To celebrate we just had a lovely meal in an MK Restaurant. Good luck to all members with your Tax Returns
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I am a British Citizen retired and living in Thailand. Do any members know if there has been any more clarity from the Thai Revenue Department or other trustworthy sources related to tax on Inheritance remitted to Thailand in 2024. I received Inheritance money ftom the UK earlier this year and some of this money has been remitted to my Bank in Thailand as an overseas transaction. I pay tax in Thailand on my pensions and get all tax back paid in Norway due to a Double Taxation Agreement. Many thanks in advance for any help.
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Reduce taxation by gifting.
vibration replied to phetphet's topic in Jobs, Economy, Banking, Business, Investments
I pay tax to both Norway and Thailand and since October 2023 I have sent some monetary gifts to my wifes account from abroad very, very much under the 20 million THB limit per year. Had I known about this prior to October 2023 then I would have done this before. Before any GIFT TO WIFE amounts were sent we made a written signed and witnessed agreement about this basically confirming the Gifts could not be used in any way for benefit to me. My wife has used the money to buy GSB Lottery Ticketss in her name, buy gold and given money to her family. Good luck to all Members regarding Tax. -
I am a British Citizen retired and living in Thailand for several years and I pay tax to both Thailand and Norway. My home address in Thailand is registered with the tax authorities in both Thailand and Norway. I have very recently received a letter from Danske Bank Norway stating that my Bank Account and Bank Cards will be cancelled on 8 November and that I need to find a new Bank. I have been a loyal customer with them for 24 years the reason they are giving for this is that Nordea Bank in Norway is taking over Danske Bank Norway and that my account is not included in the sale and this is very upsetting. They have not provided any other information so I have taken this issue to the highest level in Danske Bank Norway Country Manager also CEO in Denmark) and complained as previously they informed me that I would get a new Bank Account and Cards in Nordea Bank Norway. Can any other Members recommend another financially strong overseas Bank that I could open an account with easily and use for sending my 5 Pensions into (3 from Norway and 2 from the UK) and then when required sending money from this New Bank into my Bangkok Bank in Thailand. Would WISE be a possible good choice to suit my needs and easy to open? Many thanks in advance for any help
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Legal Strategies to Reduce Thai Tax
vibration replied to Mike Lister's topic in Jobs, Economy, Banking, Business, Investments
I am a British Citizen retired over 65 years of age and happily married to a Thai woman. I receive some small pensions from the UK that are well below the tax free threshhold in the UK and these are sent to my Bank in Norway where I worked for 32 years. I also receive State Pension and private pensions in Norway. I am tax resident in both Norway and Thailand and pay tax to both countries which I have done for several years. Last year I sent approximately 710 000 THB to Thailand and paid approximately 6 000 THB and I normally receive all tax paid in Norway (expected paid back in August) back because of the Double Taxation Agreement. I use a Norwegian Tax Lawyer residing in Thailand to help me with my Norwegian Tax Return and I do the Thai Tax Return myself (I get the local Thai Tax Office to fill it out for me) which works out great. This year I will be sending maximum 1 200 000 from Norway to Thailand and the expected Thai Tax on this will be approximately 70 000 THB. We can live quite comfortably on 500 000 THB per year the other funds cover holidays, health insurance and other goods. Which I believe is quite reasonable and am prepared to pay. I have stopped stressing about the tax changes here starting 01 January this year. Here is a Link to a Thai Tax Calculator which I have found to be quite accurate over the years. https://en-1466.site-translation.com/thailand/tax/4742.html I wish all Members best wishes with your tax here and in other Countries. -
Legal Strategies to Reduce Thai Tax
vibration replied to Mike Lister's topic in Jobs, Economy, Banking, Business, Investments
Sheryl could you please elaborate on the special deduction for pension income many thanks in advance. -
Many thanks to all members for very helpfull input. Before I started providing my wife with small monetary gifts we made and signed an agreement regarding the reasons for the gifts, conditions under when they will be made, confirmation that the gifts can be used by my wife for whatever purpose she sees fit (so far she has helped her family and bought gold) and also confirming that all GIFTS TO MY WIFE would only be remitted from overseas on funds that have previously been subject to tax in the country of origon. Due to the Double Taxation Agreements between Norway and Thailand I have always legally received all tax that I have paid in Norway back.
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I am a British Citizen very happily retired in Thailand for many years and very happily married to a Thai Lady. I will shortly be receiving some Iheritance money sent from the UK to my Danske Bank Norway account. I pay tax on my pensions in Norway as I am tax resident due to my daughters owning property there and I am also tax resident in Thailand and pay tax here also. My question is do any Members know if the sending of 1 million THB in a single transaction from Norway to my wifes Bangkok Bank Account as a GIFT TO MY WIFE will raise any red flags with the Bank of Thailand or with any other Institutions here or anyway else. I have previously sent GIFTS TO MY WIFE of much smaller amounts several times however the total yearly amount has always been considerably less than the 20 million per year Thai Tax Revenue Department Limit. Many thanks in advance for any help.
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I am a British Citizen living in Thailand in Udonthani on a Thai Elite PE Visa with yearly extensions. The last time I visited Udonthani Immigration they transferred the following Immigration Stamps from my old UK Passport into my new UK Passport: All stamps related to my last arrival in Thailand in 2019 at Suvarnabhumi Airport including a 1 year extension based on having a Thai Elite PE Visa (Multiple Entry) My latest extension done at Udonthani Immigration in June 2023 until 11 July 2024 based on having a Thai Elite PE Visa (Multiple Entry) They did however not transfer the 3 one year extension stamps from my old Passport into my new Passport for the intermediate years that were done at Udonthani Immigration in 2020, 2021 and 2022. I do remember the Udonthani Immigration Officer asking the Manager at the time if the stamps for 2020, 2021 and 2022 need to be transferred into my new Passport and the Manager said that they did not need to be transferred. I guess some people have many stamps to be transferred based on how often they exit and enter Thailand. Just wondering if any any other Members have experienced anything similar with the the transferring of old Immigration stamps into a new Passport. Just in case I always have my old and new Passport with me at all times to prove eligibility to stay in Thailand since the last time I arrived in 2019. Many thanks in advance for any help.
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I have previously bought Government Savings Bank (GSB) lottery tickets online for more than one year using the MYMO (GSB) App without any problems and the the system functioned very well however today I tried to buy lottery tickets again and was unable to login. I contacted GSB at there Central Plaza Shopping Center Branch and was informed that Foreigners with Pink ID Cards are not allowed anymore to buy lottery tickets online I was however fortunately allowed to buy the GSB lottery tickets Paper Version. I dont fully understand the logic of blocking foreigners from investing in GSB lottery tickets online and I am sure they will lose a lot of money because of this just amazing.
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UK State Pension Life Certificate for 2024
vibration posted a topic in UK & Europe Topics and Events
I am a retired British Citizen living in Thailand and last year I received a Life Certificate letter and form from the "The Pension Service" which is part of the Department for Work and Pensions dated 8 January 2023 which I had to fill in, get signed and send back. To date this year I have not received such a letter and form and was wondering if any other UK Citizens retired here have received this? Many thanks in advance for any help.