Thailand Live Wednesday 9 October 2024

[Siom]

Good evening, I want to establish my base in Thailand using it as my tax residency.

 

What I heard is that there is no tax on money that is not brought into Thailand. Is there a clear law stating that money (income, dividend, interest, capital gain) brought offshore is not taxable in Thailand? So far, I find multiple opinions on that but nothing certain. Let me give you two examples:

 

Case 1: HK company is paying Thai tax resident the amount of $1MM to his SG bank account as dividend. Assumption is that Thailand knows about this dividend with bank sharing standards such as CRS.

 

Case 2: Thai tax resident made $1MM capital gains by buying & selling SG stock. The sale is taking place using a SG broker and money is transferred to SG bank account. Again, assumption is that Thailand tax authorities know about that capital gain (through CRS) but the money is not brought into Thailand.

 

Expatbriefing says: 

You will also have to pay income tax on dividends received from other countries.
As a resident, you will also have to pay income tax on capital gains made in other countries.

[Oxx]

Thailand is not a participant in CRS and so would know nothing about these transactions.

[OJAS]

On 2/9/2018 at 5:57 PM, Siom said:

I want to establish my base in Thailand using it as my tax residency.

The extent to which you will be able to do this may be determined by the provisions of any double taxation agreement existing between your home country and Thailand (assuming that we are here talking solely about income derived in your home country and not in Thailand).

[Oxx]

You'll find all the information you need in:

 

https://www2.deloitte.com/content/dam/Deloitte/cn/Documents/international-business-support/deloitte-cn-ibs-thailand-tax-invest-en-2017.pdf

https://www.pwc.com/th/en/publications/assets/thai-tax-2017-18-booklet-en.pdf