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matta01

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Posts posted by matta01

  1. If there is no room whatsoever to place the amount of tax already paid on a Thai tax return, how does one calculate the tax?


    A) suppose you bring 1,000,000 THB into Thailand you deduct the deductions as follows: 60,000 THB + 190,000 THB + 100,000 THB remains 650,000 THB
    you then calculate according to the tax brackets. First tax bracket no tax , second tax bracket is 5% and so on...


    Thus, on the 650,000 THB you need to pay 27,000 baht according to the rules. However, now you can say I have already paid 80,000 baht tax in my home country  result: here you must pay 27.000 THB minus 80.000 THB that you has pay this means you do not pay tax

    or

    B) you bring 1,000,000 THB into Thailand you deduct the deductions 60,000 THB + 190,000 THB + 100,000 THB + the 80,000 THB that you have already paid in your home country 

    remains 570.000 THB
    you then calculate the tax brackets, first tax bracket has no tax, second 5% and so on
    result you pay 19,500 THB tax

  2. Regarding the meeting between French and Thai authorities, the point of discussion was Article 18 of the DTA, where the Thai services cited an English version stating that the tax could be claimed by France and Thailand on the one hand. The French-language treaty states that only the state that pays the pension can claim the tax. ( only one word is the problem " maybe")  The French recognize and are not aware of an English-language treaty. This English copy is therefore not signed There is only a French and Thai treaty that has been signed.

     

    Question for Mike If one has paid tax on, for example, a pension, in which section should this be stated on the tax return and can you therefore adjust the document accordingly?

  3.  

     

    Quote

    Can everyone say what are their three biggest/top three issues in the don't know/unclear category, please?

     

     

    a. The time:
         In Thailand, the declaration must be made in the first quarter of the year. The figures (such as how much tax people have paid on their income in their home country) are only available in the third quarter.

    b. The documents:
    Which documents must be presented and will be accepted as proof that one has already paid tax in one's home country? What if they are only available in the third quarter?

    c. If you transfer money to Thailand, to your Thai wife's account in Thailand (you are not required to have a bank account) is this money considered a gift?

     

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  4. Quote

    This is the bit people should be worried about, people seem to think Dual Tax treaties exist so an individual can CHOOSE which rules to follow.

    This is not true for example a Belgian ( European country ) citizen can not choose. You have to pay taxes in the country where you have your income

  5. “Starting January 1st, 2024, a Thai tax resident who brings foreign-earned income into Thailand must pay Thailand income tax.”

     

    For me, it is very clear that they're asking for tax on the money you bring into Thailand. That means if you have 500.000 income and you bring only 250.000 into Thailand then they count from 250.000 and not from 500.000

     

    If you have tax in your home country on your income and there is an agreement you can look at what the possibilities are, normally you pay only a one-time tax on your income. I have read your text however, the individual interpretation of certain segments might differ from person to person. Such as bringing in money periodically into Thailand as income (pension)or on the total amount of pension money.

    Sorry for my Englisch but I try to my best

     

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  6. You do not pay for the visa, you pay for the extension. (there is a little difference)

    In almost all of the postings you read here, it states that Thailand asks for tax on your income but that is not the case. It is that they ask for tax on the money you bring into Thailand. The procedure therefore is for the moment unknown. What we do know is that there is a difference between a pensioner who has his monthly pension in a Thai bank account and a pensioner who brings money periodically into Thailand. Everything else is speculation for the moment.

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