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Taxation of Ex-Pats pensions etc.


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2 minutes ago, topt said:

The original idea was to tax remittances into Thailand if you are tax resident here. Nothing to do with income kept outside the country.

You may be right. The prospect of Thai Immigration co-operating with the tax authorities to determine which pensioners are here for more than 180 days is not one that fills me with dread.

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4 minutes ago, 142857 said:

It is a very silly idea to start taxing the overseas income of Expats, but that has not been confirmed yet. For those expats with a bit of cash, set up a company, and LEND the money you bring into Thailand and then LEND that money from the company to yourself!! Accountants are cheap in Thailand. say 30K a year, but let's say you can live on a million baht a year, that represents an effective rate of tax of 3%. Peanuts compared to the max of 35%. the other way of sorting this, is not to bring it into Thailand. Use your offshore bank accounts and make sure you have a big limit on your ATM withdrawals. Just take out cash and the Thai Taxman is none the wiser...

The Thais can't tax what doesn't get transferred in. Good thinking 99.

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1 hour ago, Moonlover said:

Whenever I see yet another thread being raised on this topic, I immediately ...

... ignore it with every other repetitive scaremongering, doom & gloom BS 😎

 

Maybe if OP actually searched for real info ... he/she/it may have found it 🙄

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Which countries does Thailand have double tax treaties with?

At the time of writing, Thailand has concluded 61 double tax agreements with countries worldwide.

Armenia Hungary Poland
Australia India Romania
Austria Indonesia Russia
Bahrain Israel Seychelles
Bangladesh Italy Singapore
Belarus Japan Slovenia
Belgium Korea South Africa
Bulgaria Kuwait Spain
Cambodia Laos Sri Lanka
Canada Luxembourg Sweden
Chile Malaysia Switzerland
China Mauritius Taipei
Cyprus Myanmar Tajikistan
Czech Republic Nepal Turkey
Denmark Netherlands Ukraine
Estonia New Zealand United Arab Emirates
Finland Norway United States of America
Germany Oman Uzbekistan
Great Britain and Northern Ireland Pakistan Vietnam
Hong Kong Philippines
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45 minutes ago, cranki said:

Which countries does Thailand have double tax treaties with?

At the time of writing, Thailand has concluded 61 double tax agreements with countries worldwide.

Armenia Hungary Poland
Australia India Romania
Austria Indonesia Russia
Bahrain Israel Seychelles
Bangladesh Italy Singapore
Belarus Japan Slovenia
Belgium Korea South Africa
Bulgaria Kuwait Spain
Cambodia Laos Sri Lanka
Canada Luxembourg Sweden
Chile Malaysia Switzerland
China Mauritius Taipei
Cyprus Myanmar Tajikistan
Czech Republic Nepal Turkey
Denmark Netherlands Ukraine
Estonia New Zealand United Arab Emirates
Finland Norway United States of America
Germany Oman Uzbekistan
Great Britain and Northern Ireland Pakistan Vietnam
Hong Kong Philippines

Someone might get demoted, CHINA is not listed. I don't know what benefit they will get out of taxing Bhutan expats.

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1 hour ago, cranki said:

Which countries does Thailand have double tax treaties with?

At the time of writing, Thailand has concluded 61 double tax agreements with countries worldwide.

Armenia Hungary Poland
Australia India Romania
Austria Indonesia Russia
Bahrain Israel Seychelles
Bangladesh Italy Singapore
Belarus Japan Slovenia
Belgium Korea South Africa
Bulgaria Kuwait Spain
Cambodia Laos Sri Lanka
Canada Luxembourg Sweden
Chile Malaysia Switzerland
China Mauritius Taipei
Cyprus Myanmar Tajikistan
Czech Republic Nepal Turkey
Denmark Netherlands Ukraine
Estonia New Zealand United Arab Emirates
Finland Norway United States of America
Germany Oman Uzbekistan
Great Britain and Northern Ireland Pakistan Vietnam
Hong Kong Philippines

 

33 minutes ago, Lacessit said:

Someone might get demoted, CHINA is not listed. I don't know what benefit they will get out of taxing Bhutan expats.

China, 12th down on the left. Where does Bhutan come into this? 

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1 hour ago, cranki said:

Which countries does Thailand have double tax treaties with?

At the time of writing, Thailand has concluded 61 double tax agreements with countries worldwide.

Armenia Hungary Poland
Australia India Romania
Austria Indonesia Russia
Bahrain Israel Seychelles
Bangladesh Italy Singapore
Belarus Japan Slovenia
Belgium Korea South Africa
Bulgaria Kuwait Spain
Cambodia Laos Sri Lanka
Canada Luxembourg Sweden
Chile Malaysia Switzerland
China Mauritius Taipei
Cyprus Myanmar Tajikistan
Czech Republic Nepal Turkey
Denmark Netherlands Ukraine
Estonia New Zealand United Arab Emirates
Finland Norway United States of America
Germany Oman Uzbekistan
Great Britain and Northern Ireland Pakistan Vietnam
Hong Kong Philippines

This list is wrong..

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6 hours ago, Mike Lister said:

My thoughts are that you should try reading any of the numerous threads that already exist on this subject rather than add yet another one! Try this one, start at the end and work back. 

 

https://aseannow.com/topic/1306896-thai-government-to-tax-all-income-from-abroad-for-tax-residents-starting-2024/

 I missed this article somehow. However it seems very clear it will not affect people from countries with a double taxation agreement. Thank you for posting.

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4 minutes ago, LittleBear57 said:

 I missed this article somehow. However it seems very clear it will not affect people from countries with a double taxation agreement. Thank you for posting.

It depends on whether your home country has a double taxation agreement with Thailand and the sources and amounts of your income. UK Government (Civil Service) pensions are exempt, State Pension is not, company and private pensions are not. The Thai tax system has fairly generous allowances and deductions plus a large zero rated band which means you can import around 10k Pound per year, without being subjected to Thai tax (which is tiered at 5%, 10% 15% 20% bands)

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8 minutes ago, Lacessit said:
1 hour ago, Moonlover said:

 

China, 12th down on the left. Where does Bhutan come into this? 

 

8 minutes ago, Lacessit said:

Missed that, greyscale type. Bhutan is mentioned as an example of an insignificant return.

It's only natural I guess for folks to gravitate toward personal taxation when discussing DTAs, but actually they are more about business taxes and a designed to smooth out and simplify business transactions between nations. The fact that we benefit at a personal level is more a byproduct of those treaties.

 

The treaties benefit both nations, which is why we are very unlikely to see any changes in our situations.

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