Filing my first thai tax return

[HKexpat]

Hi,

 

I have a few questions regarding this topic.  

 

Q1 As I have been tax resident now for 180 days in the current tax year should I now file my first thai tax return or is this technically not due until March 2025?

 

Q2. As Thailand currently taxes you on a remittance only basis do I need to also declare any overseas income that is earned after 31 Dec 2023 if I “am not” intending to remit any of this earned income to Thailand in the current tax year?

 

For example, if I wish to remit savings only and leave my overseas income overseas do I still need to declare it?

 

Q3.  If I need to declare overseas rental income I only know the final amount earned in the prior tax year after Apr 5 of the following year so how do I reconcile this with reporting my rental income by the end of March if that’s the cut off date for filing your thai tax return?   
 

Thank you. 

 

 

[topt]

36 minutes ago, HKexpat said:

Q1 As I have been tax resident now for 180 days in the current tax year should I now file my first thai tax return or is this technically not due until March 2025?

Technically you are supposed to file between 1st January and 31st March 2025 for calendar year 2024 if you have assessable income above the relevant limit - however if no tax due due to allowances/DTAs some would say why file.......

39 minutes ago, HKexpat said:

Q2. As Thailand currently taxes you on a remittance only basis do I need to also declare any overseas income that is earned after 31 Dec 2023 if I “am not” intending to remit any of this earned income to Thailand in the current tax year?

Currently it is only remittance based so no.

40 minutes ago, HKexpat said:

Q3.  If I need to declare overseas rental income I only know the final amount earned in the prior tax year after Apr 5 of the following year so how do I reconcile this with reporting my rental income by the end of March if that’s the cut off date for filing your thai tax return?

If it is part of your remittance then that is one of the less clear areas as to how you may or may not claim a tax credit..........So total amounts are irrelevant currently until or if they move to taxing world wide income. There is another issue about filing rental income twice per year which is why @Mike Lister in a post suggested trying to hold off remitting rental income until July. (from memory.....)

 

If you haven't already I would suggest reading this -

 

[HKexpat]

Thank you for the clarification and that’s very helpful   

[Everyman]

Until they add a section for income except due to DTAs it’s not clear how foreigners could file taxes correctly anyway with regard to this.