If a foreigner is staying in Thailand on retirement visa and he is trading into forex market using online brokers from another country, then

1) Is he required to pay the income tax for the profits he make in his trading account?

2) If he brings the profit amount he made into Thailand then is he required to pay income tax on it?

3) If he decided to pay the incometax anyway to the Thai authority, then where can he do so? whom can he contact regarding this? Is he required to make a workpermit first to trade online?

 

Pls reply

 

Income brought into Thailand during the year it is earned is taxable. Income brought in from prior years is not taxable. Claiming income to be taxed is very likely to raise the question of where the income is coming from, which in turn raises the issue of do you require a work permit. For this reason, I recommend bringing only prior year income (or savings) into Thailand, and not declaring any income subject to taxation. Trading online will not fall under the work permit (labor) laws, as it is "managing your investments" not working - unless you were to declare to some authority in Thailand that this was your job. So don't do that.

As far as I know, there is no trading tax charged for trading on the online exchange markets. I am in the United Arab Emirates for several years now and have been interacting with usd / try currency in the forex market. All thanks to the fact that I have fbs sign up, this platform interacts perfectly with the online forex market and provides me with many bonuses and additional opportunities. For example, thanks to the fbs, I get access to the usd try live chart and can make timely money transfer operations and make a profit.