Offshore salary to Thailand.

[Alphim]

Good day,

I am in Thailand on a Non Imm. O Visa, retirement. I have been offered a short term, possibly 3 months, away from Thailand.

I would please like to ask what is the tax situation if I bring the salary into Thailand. I would be paid in US$, I have a US$ account here also a Thai Baht account.  What is the best way to bring that money in, taxwise. I have no other income aside from pension. Any advise would be appreciated, thank you.

 

 

[phetphet]

Any money earned outside Thailand will be subject to tax if brought  into Thailand in the same tax year as earned.

So if you could afford to keep it outside Thailand until the next tax year, it would not be subject to tax.

 

[richard_smith237]

3 minutes ago, phetphet said:

Any money earned outside Thailand will be subject to tax if brought  into Thailand in the same tax year as earned.

So if you could afford to keep it outside Thailand until the next tax year, it would not be subject to tax.

 

Does that also depend on the amount of time one spends in Country ?

(i.e. is there a 180 day rule for tax residency etc ?)

 

 

[Havefunme]

Your allowed to bring $20,000 to Thailand without declaring it. As I understand money being brought in is not taxable unless it exceed then $ 20,000 and that would be up to customs officer . What is taxable is the money you make in Thailand like interest from your bank account here . But let someone on here agree or disagree 

[nigelforbes]

5 minutes ago, richard_smith237 said:

Does that also depend on the amount of time one spends in Country ?

(i.e. is there a 180 day rule for tax residency etc ?)

 

 

Yes, there is.

 

Money earned offshore this year could be brought into Thailand after 4 July and still be tax free, even if the OP remained here until 31 December, assuming the OP had not visited Thailand between 1 Jan and 4 July..

Edited March 12, 2023 by nigelforbes

[phetphet]

9 minutes ago, richard_smith237 said:

Does that also depend on the amount of time one spends in Country ?

(i.e. is there a 180 day rule for tax residency etc ?)

 

 

There was a KPMG article on this, but I cannot find it. Here is another:

https://taxsummaries.pwc.com/thailand/individual/taxes-on-personal-income

[Alphim]

1 hour ago, phetphet said:

Any money earned outside Thailand will be subject to tax if brought  into Thailand in the same tax year as earned.

So if you could afford to keep it outside Thailand until the next tax year, it would not be subject to tax.

 

Thank you. I can do that. How would I prove that I has earned before that tax year, a pay statement?

Doing it that way could I then just transfer it from wherever to one of my Thai accounts? Thanks again 

[Alphim]

1 hour ago, Havefunme said:

Your allowed to bring $20,000 to Thailand without declaring it. As I understand money being brought in is not taxable unless it exceed then $ 20,000 and that would be up to customs officer . What is taxable is the money you make in Thailand like interest from your bank account here . But let someone on here agree or disagree 

Many thanks for all repies.

[UWEB]

26 minutes ago, Alphim said:

Thank you. I can do that. How would I prove that I has earned before that tax year, a pay statement?

Doing it that way could I then just transfer it from wherever to one of my Thai accounts? Thanks again 

While I worked Offshore and Onshore my Company has transferred my Salary direct into my BBL USD Account here in Thailand, never had a Tax Problem. If you will keep it out of Thailand till the beginning of next Year just make a Transfer in the first days of January, no paperwork required at all.

[ukrules]

Also if you don't already have a Thai tax id for other reasons (perhaps historical) then they're not coming knocking. Not yet anyway.

Edited March 12, 2023 by ukrules

[kwonitoy]

Get an offshore bank account to deposit your working salary into, transfer into Thailand living expenses, I used to do 10,000USD per transfer.

No tax obligations anywhere.

Did this for 25 years of my residence in Thailand with no blow back

 

Standard Bank Offshore is inexpensive to set up

[Alphim]

5 hours ago, kwonitoy said:

Get an offshore bank account to deposit your working salary into, transfer into Thailand living expenses, I used to do 10,000USD per transfer.

No tax obligations anywhere.

Did this for 25 years of my residence in Thailand with no blow back

 

Standard Bank Offshore is inexpensive to set up

Yes, thanks, seems about the way to go. Ive been in touch with Standard IOM.

[Alphim]

12 hours ago, ukrules said:

Also if you don't already have a Thai tax id for other reasons (perhaps historical) then they're not coming knocking. Not yet anyway.

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[nigelforbes]

12 hours ago, ukrules said:

Also if you don't already have a Thai tax id for other reasons (perhaps historical) then they're not coming knocking. Not yet anyway.

I have a sneaky feeling that if the Thai Revenue really wanted to talk to the OP they would get his address from the bank, either that or just freeze his account until he contacted them.