Tax optimization as freelancer/entrepreneur

[Isan Wanderer]

I'm settling down in Thailand long term with a marriage visa and have spent over 180 days here during 2014. I make most of my income trading on financial markets and freelancing with clients abroad. I don't have a fixed salary but rather pay myself with capital gains and dividends from my company registered outside Thailand.

What is the most tax efficient way to use for money remitted from abroad in my case?

 

Let's say I remit 100,000 THB a month or 1.2 million a year. I see I would be taxed for 111,000 or roughly 10% a year according to www.uobam.co.th/en/tax-calculation

Does it look correct to people in similar situations?

 

What's the procedure to pay those taxes? Ask for a tax ID at the Revenue Office and transfer the tax money once a year from my bank account?

 

Thank you for any guidance 🙏

[KhunHeineken]

On 12/24/2024 at 7:57 AM, Isan Wanderer said:

I'm settling down in Thailand long term with a marriage visa and have spent over 180 days here during 2014. I make most of my income trading on financial markets and freelancing with clients abroad. I don't have a fixed salary but rather pay myself with capital gains and dividends from my company registered outside Thailand.

What is the most tax efficient way to use for money remitted from abroad in my case?

 

Let's say I remit 100,000 THB a month or 1.2 million a year. I see I would be taxed for 111,000 or roughly 10% a year according to www.uobam.co.th/en/tax-calculation

Does it look correct to people in similar situations?

 

What's the procedure to pay those taxes? Ask for a tax ID at the Revenue Office and transfer the tax money once a year from my bank account?

 

Thank you for any guidance 🙏

Why not set up a bank account in a neighboring country that you like?  You go there for a small holiday every now and then.  Go to the bank.  Withdraw a sum on money the day before you come back to Thailand.  Declare the money.  Throw it in the safe and live of it for a while.  ATM withdraws for the offshore bank helps as well. 

 

Just remit as less as possible.

 

Why not spend the 111,000 baht on holidays, rather than giving it to the Thai government for NOTHING. 

 

It's not tax avoidance.  It's tax minimization.  Some may argue this, but TIT, so the chances of any problems is near zero.  Did the same when in Singapore for the F1.  Brought back a chunk of money.