Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[chiang mai]

I extended my anual stay visa in Chiang Mai this week, as expected there was no mention made of tax or TIN's. I was asked what the value of my pensions is, for the first time, so I gave them a low ball number.....which is what I hope others are doing also (no need to propagate the idea that all foreigners are wealthy). 

[jwest10]

15 minutes ago, chiang mai said:

I extended my anual stay visa in Chiang Mai this week, as expected there was no mention made of tax or TIN's. I was asked what the value of my pensions is, for the first time, so I gave them a low ball number.....which is what I hope others are doing also (no need to propagate the idea that all foreigners are wealthy). 

Great to hear I was asked that several years ago by the Authorities who came to my house but no one knows what is going to happen in 2025 and yes, the extension comes up in January 2025

 

Edited 3 hours ago by jwest10

[The Cyclist]

10 hours ago, UKresonant said:

I had understood that a NT tax code was almost impossible to obtain  from the UK tax authority HMRC, in relation to residency in Thailand. It was likely stay to stay that way, as long as Thailand was remittance based tax.  Could reclaim using a Thai tax cert against UK tax though.

 

Has UK HMRC  issued any updates?

 

 

The process is fairly simple, although it would be advisable to get a Tax Accountant to do the Donkey work with HMRC.

 

1. Government Pension, no way, unless you are a dual National who returns to original Country

 

2. State Pension. Dont know, but I think the above would apply.

 

3. Private pensions, perfectly feasible.

 

Obtain other Country TIN

 

Give to Tax Accountant with details of what you want the NT Tax code to apply to

 

Let the Tax Accountant do the rest.

 

When the dust settles here in Thailand. I'll probably go down that route with my private pension as it will probably benefit me to have it taxed in Thailand, rather than a straight 20% in the UK

 

P85 is the form that needs completed, which can be found and completed online on the HMRC website.

[The Cyclist]

2 hours ago, chiang mai said:

I extended my anual stay visa in Chiang Mai this week, as expected there was no mention made of tax or TIN's. I was asked what the value of my pensions is, for the first time, so I gave them a low ball number.....which is what I hope others are doing also (no need to propagate the idea that all foreigners are wealthy). 

 

Renewed on Thursday.

 

No mention of TIN's / Tax / or Pensions. Just the usual, in and out in 30 minutes.