Legal Strategies to Reduce Thai Tax

[Robin]

Hoping that this is not off topic:

How do the TRD count days n Thailand for Non Resident purposes?

Is it the number of nights in Thailand as UK,(HMCR), does or is here a 'Thai way' of counting days?

[Yellowtail]

2 minutes ago, Robin said:

Hoping that this is not off topic:

How do the TRD count days n Thailand for Non Resident purposes?

Is it the number of nights in Thailand as UK,(HMCR), does or is here a 'Thai way' of counting days?

I assume it's stamped in to stamped out. Any part of a day counts as a day.

[chiang mai]

37 minutes ago, Robin said:

Hoping that this is not off topic:

How do the TRD count days n Thailand for Non Resident purposes?

Is it the number of nights in Thailand as UK,(HMCR), does or is here a 'Thai way' of counting days?

Stamps in your passport. Even 5 minutes still counts as a day.

[jmd8800]

On 7/30/2024 at 1:47 PM, JimGant said:

If your SS is $1800, that would cover the whole 65k monthly remittance, i.e., no Thai tax. In fact, with your TEDA now at 500k, you could transfer another $1160 per month with still no Thai taxable income. Send an extra $3000 per month -- Thai taxes would be $2900. Assuming you're paying more than this in US taxes -- this $2900 would be a one-for-one tax credit against your US taxes. Yes, Forms 1116 and 8833 would need to be filed. But you say you use an accountant, so no big deal.

 

You seem to be the average American. So, as has been said all along, Yanks, already taxed on all our income, won't be financially affected by this new situation (nor most, if worldwide income taxation comes in). Unpack your bags.

Is there a chart somewhere that describes all possible TEDA that I can read and show to others who ask?

[placnx]

On 5/18/2024 at 9:19 PM, Ben Zioner said:

Most people don't realise that they are supposed to pay IT on the gift they make, while the wife will be exempt.

IT means inheritance tax, I guess. It depends on which is your home country. The exemption in the US for now is $11mn (lifetime and at death). I believe that Thailand has a large exemption as well (Baht20mn per year), and the rate above that is 5%. So presumably one can wire the gift to the spouse's account in Thailand, but if only joint tax returns are permitted, wouldn't that still be a problem?

[chiang mai]

On 8/10/2024 at 7:42 PM, jmd8800 said:

Is there a chart somewhere that describes all possible TEDA that I can read and show to others who ask?

https://sherrings.com/personal-tax-deductions-allowances-thailand.html

[chiang mai]

1 hour ago, placnx said:

IT means inheritance tax, I guess. It depends on which is your home country. The exemption in the US for now is $11mn (lifetime and at death). I believe that Thailand has a large exemption as well (Baht20mn per year), and the rate above that is 5%. So presumably one can wire the gift to the spouse's account in Thailand, but if only joint tax returns are permitted, wouldn't that still be a problem?

There's no relationship between Gift Tax Thailand and whether tax return is filed jointly.

[Jesse123]

On 5/21/2024 at 1:26 AM, Yumthai said:

For those who think a gift remitted from overseas between spouses could be assessable income just use the gift rules as being the giftee when possible: A non Thai tax resident parent or child can send to the Thai tax resident child/parent giftee up to THB20M/year tax-free.

 

 

A gift without conditions made outside Thailand to a family member residing outside Thailand who later remits to a Spouse or Partner residing in Thailand would require some convoluted interpretation to tax the donor. UK tax planning using an offshore trust with UK resident and non-resident benficiaries can still result in the UK resident receiving gifts from the non resident's distributions. Does rely on family harmony though. 🙂