Ibkr(interactive brokers) and tax, thailand?

[sanook 1]

Does ibkr report to the thai tax(revenue dep?) if you have your adress/domicile in thailand, or you need do it yourself?  What is the tax % on capital gains in thailand, i read somewhere its 0% and 15% on dividends? 

[Don Chance]

Are you thai?

[Foxx]

No.  IBKR doesn't report to the Thai tax authorities.  There is no tax on capital gains tax in Thailand.  There is no tax on foreign dividends in Thailand (provided you don't bring the proceeds into Thailand in the same calendar year).  Of course, all of that might change next year.

 

[sanook 1]

1 hour ago, Foxx said:

No.  IBKR doesn't report to the Thai tax authorities.  There is no tax on capital gains tax in Thailand.  There is no tax on foreign dividends in Thailand (provided you don't bring the proceeds into Thailand in the same calendar year).  Of course, all of that might change next year.

 

Thanks for info! 

[freeworld]

2 hours ago, Foxx said:

No.  IBKR doesn't report to the Thai tax authorities.  There is no tax on capital gains tax in Thailand.  There is no tax on foreign dividends in Thailand (provided you don't bring the proceeds into Thailand in the same calendar year).  Of course, all of that might change next year.

 

Thats not strictly correct

 

Ref PWC tax summary 2023

Capital gains

Most types of capital gains are taxable as ordinary income. However, the following capital gains are exempt from tax:

Capital gains on the sale of shares in a company listed on the Stock Exchange of Thailand, provided that the sale is made on the Stock Exchange of Thailand, and on the sale of investment units in a mutual fund.

Gains on the sale of non-interest bearing debentures, bills, or debt instruments issued by a corporate entity, except in the case where the bonds or debt instruments were sold for the first time at a price lower than their redemption price to an individual.

Gains on the sale of securities listed on stock exchanges in the Association of Southeast Asian Nations (ASEAN) member countries and traded through the ASEAN Link, excluding securities in the form of treasury bills, bonds, bills, or debentures.

Capital gains and investment income earned by a resident from sources outside Thailand are not taxable unless remitted to Thailand in the year of receipt.

Capital losses may not be offset against capital gains.

Edited October 1, 2023 by freeworld

[freeworld]

8 hours ago, sanook 1 said:

Does ibkr report to the thai tax(revenue dep?) if you have your adress/domicile in thailand, or you need do it yourself?  What is the tax % on capital gains in thailand, i read somewhere its 0% and 15% on dividends? 

Depends which tax residence you gave to ibkr.

 

If you don't remit the capital gains to Thailand, there is no tax in Thailand.

 

If you remit the gains (atm in the same tax year they were earned) then the gain could be treated as income and subject to the marginal rates of tax.

[sanook 1]

9 hours ago, freeworld said:

Thats not strictly correct

 

Ref PWC tax summary 2023

Capital gains

Most types of capital gains are taxable as ordinary income. However, the following capital gains are exempt from tax:

Capital gains on the sale of shares in a company listed on the Stock Exchange of Thailand, provided that the sale is made on the Stock Exchange of Thailand, and on the sale of investment units in a mutual fund.

Gains on the sale of non-interest bearing debentures, bills, or debt instruments issued by a corporate entity, except in the case where the bonds or debt instruments were sold for the first time at a price lower than their redemption price to an individual.

Gains on the sale of securities listed on stock exchanges in the Association of Southeast Asian Nations (ASEAN) member countries and traded through the ASEAN Link, excluding securities in the form of treasury bills, bonds, bills, or debentures.

Capital gains and investment income earned by a resident from sources outside Thailand are not taxable unless remitted to Thailand in the year of receipt.

Capital losses may not be offset against capital gains.

Thanks for sharing, great info! 

[persimmon]

re. capital gains tax - " cannot offset gains against losses " ...this seems unusual and quite detrimental for the investor - asymmetry of risk / reward .