Thai Tax Returns for Foreigners

[Nickcage49]

Like many of you, I was concerned about filing a tax return here in Thailand.

 

To be clear, I have no income here, and I don't receive money in Thailand from abroad.

 

I just spoke to our accountant here and she told me that as long as I fill out a tax return in my country (the USA), one is not required to be filled out here.

 

I thought that might be helpful to some of you.

 

Of course, get your own professional opinion.

[EVENKEEL]

4 minutes ago, Nickcage49 said:

Like many of you, I was concerned about filing a tax return here in Thailand.

 

To be clear, I have no income here, and I don't receive money in Thailand from abroad.

 

I just spoke to our accountant here and she told me that as long as I fill out a tax return in my country (the USA), one is not required to be filled out here.

 

I thought that might be helpful to some of you.

 

Of course, get your own professional opinion.

Don your battle gear for the local experts

[chiang mai]

5 minutes ago, EVENKEEL said:

Don your battle gear for the local experts

Give it a rest EK, it's getting old.

[Cuchulainn]

42 minutes ago, Nickcage49 said:

 

 

I just spoke to our accountant here and she told me that as long as I fill out a tax return in my country (the USA), one is not required to be filled out here.

 

 

Let's see what Immigration says next year when we apply for our annual extensions.

 

Will they be bothered with extra paperwork, or rub their hands in glee at more hurdles for us to jump over?

[topt]

1 hour ago, Nickcage49 said:

I have no income here, and I don't receive money in Thailand from abroad.

 

I just spoke to our accountant here and she told me that as long as I fill out a tax return in my country (the USA), one is not required to be filled out here.

At the moment if you have no income generated in Thailand and don't remit any money into Thailand than I would ask what are you living on......(I guess the clue may be in the "our accountant")

Correct that no filing needs to be made in that circumstance but it has absolutely nothing to do with your home country tax return. 

 

[EVENKEEL]

4 hours ago, chiang mai said:

Give it a rest EK, it's getting old.

Someone got up on the wrong side of the bed today. 

[Pattaya57]

6 hours ago, Nickcage49 said:

Like many of you, I was concerned about filing a tax return here in Thailand.

 

To be clear, I have no income here, and I don't receive money in Thailand from abroad.

What a joke, if you have no income here and don't remitt any money here then why would you ever think you needed a Thai tax return?

 

[Cuchulainn]

^^ If immigration starts sticking its nose in?

[EVENKEEL]

9 hours ago, Pattaya57 said:

What a joke, if you have no income here and don't remitt any money here then why would you ever think you needed a Thai tax return?

 

All the talk on here could lead many to do the same. 

[chiang mai]

10 minutes ago, EVENKEEL said:

All the talk on here could lead many to do the same. 

Gosh, we should all stop talking about tax immediately, just in case somebody thinks they should file a return when they really don't need to......duh!

[EVENKEEL]

1 minute ago, chiang mai said:

Gosh, we should all stop talking about tax immediately, just in case somebody thinks they should file a return when they really don't need to......duh!

Good idea. And, please don't say duh after a sentence. That doesn't instill much confidence.

[1FinickyOne]

20 hours ago, Nickcage49 said:

thought that might be helpful to some of you.

only if you are correct... 

[ujayujay]

15 hours ago, Pattaya57 said:

What a joke, if you have no income here and don't remitt any money here then why would you ever think you needed a Thai tax return?

 

You probably think the Thai tax authorities are stupid and think that these foreigners only live on fresh air and spring water

[1FinickyOne]

1 minute ago, ujayujay said:

foreigners only live on fresh air and spring water

where do we go for the fresh air and spring water? 

[Jenkins9039]

21 hours ago, Nickcage49 said:

o be clear, I have no income here, and I don't receive money in Thailand from abroad.

You don't need to file a tax return if you've no income.

 

Simple as that.

[Thingamabob]

Enough already. 

[Tedly]

  My "income" is low enough that I don't even have to file a return in America, so with only a little bit of social security and a small withdrawal from my IRA, I'm below the amount to be required to file, so I would think I wouldn't have to file here either but I'm sure someone on here will tell me if I'm wrong

[Jingthing]

2 minutes ago, Tedly said:

  My "income" is low enough that I don't even have to file a return in America, so with only a little bit of social security and a small withdrawal from my IRA, I'm below the amount to be required to file, so I would think I wouldn't have to file here either but I'm sure someone on here will tell me if I'm wrong

I hope not but I suggest that you do file in the US anyway as that might help you later to document your situation with Thai Revenue if ever needed.

[chiang mai]

1 minute ago, Tedly said:

  My "income" is low enough that I don't even have to file a return in America, so with only a little bit of social security and a small withdrawal from my IRA, I'm below the amount to be required to file, so I would think I wouldn't have to file here either but I'm sure someone on here will tell me if I'm wrong

Your Social Security is tax exempt in Thailand but your IRA may not be. Just because you don't have to file in the US, doesn't automatically mean you wont have to file here, there is no correlation between the two tax systems. That said, you are entitled to exemptions and deductions here so there's an excellent chance you wont pay tax here either.

 

The rules for whether or not you must file a return in Thailand stipulate any assessable income above 60k baht per year, by a tax resident, requires a tax return.

[chiang mai]

6 hours ago, EVENKEEL said:

Good idea. And, please don't say duh after a sentence. That doesn't instill much confidence.

For somebody he doesn't think this tax business is real, you sure spend a lot of time in the tax threads, every day. Why is that I wonder!

[Srikcir]

22 hours ago, Nickcage49 said:

I just spoke to our accountant here and she told me that as long as I fill out a tax return in my country (the USA), one is not required to be filled out here.

I understand that the Revenue Department will amend the law to collect taxes from residents who have income from abroad, even if that income is not brought into the country. As such it would apply in the determination of Thai taxed income relative to any foreign resident's country's Double Taxation Treaty if applicable. Thai taxation may exceed foreign citizen's home country's taxation (ie., higher Thai tax bracket than foreigner's home country tax bracket).

 

The amendment would be consistent with the principle of taxation of worldwide income, such as required in the case for US citizens regardless whether they bring that income into the US or not. For US citizens (I don't know if this is unique or similar for other countries), it also triggers the mandatory annual Foreign Bank Account Report (FBAR) to identify foreign funds held under almost any kind of ownership that exceeds cumulatively $10,000. Failure to file has a very high penalty.