.png.3b3332cc2256ad0edbc2fe9404feeef0.png.8488ab72b8bb2e508209bfe3211b6e08.png)
-
Recently Browsing 0 members
- No registered users viewing this page.
Announcements
-
Topics
-
-
Popular Contributors
-
1
-
2
-
3
-
4
-
5
-
-
Latest posts...
-
1,293
Thai tax tangle: Expats warned of new rules on overseas income
This deserves to be saved by every expat Thai tax resident and shared widely amongst the expat community: In this video [https://www.youtube.com/watch?v=wEpTYIjXCqE], Carl Turner of Expat Tax Thailand provides clear and actionable guidance on the issue of remitted foreign income that is (not) to be considered as assessable income for the purpose of calculation of income tax in Thailand and the implications for (not) obtaining a TIN and (not) filing a tax return for that income. This source states that it provides guidance to Thai taxpayers derived from consultations with the Thai Revenue Department. At 5:11, he says.... “So let's say you're a pensioner and you are living in Thailand 180 days or more. So you meet the criteria to be a Thai tax resident; then we look at what do you bring into Thailand. So if they bring in pension income, we have to look at where the pension income comes from. If it is from the US, so Social Security money -- um -- then that is not taxable. It's not assessable income, so for these people, if that's their only source of income, for your US listeners and viewers, if their only source of income is US social security, or military pension, or they worked for the US government, like a federal pension -- this is not assessable income. They don't need to file a tax return for that income. They don't need to do anything." At 8:37, he says.... “… so if you are -- if you have a Canadian pension, excellent! The Double Taxation Agreement shows that Canadian pensions are not taxable in Thailand; they are excluded -- they're only taxed in Canada. Okay so for those people -- if they've only got Canadian pensions they don't need to file a tax return; they don't need a tax ID.” Carl Turner of Expat Tax Thailand, Nov 29, 2024 Expats & Taxes in Thailand: Expert Advice You Need to Know! https://www.youtube.com/watch?v=wEpTYIjXCqE -
103
British Nationals Arrested with Cannabis and Laughing Gas in Phuket Raid
It's the same as being white and having a Thai passport. It doesn't make you Thai and the Thais will never accept a white man as a true Thai. Funny that it is racist when white men say the same about the invaders in their homelands. Thais have a right to their country why do Brits not have a right to theirs? -
2
The Neo-Imperialist was Serious About Stealing Greenland
Even if Greenlanders, who are supposedly autonomous, vote democratically to join Trump's America? Surely forcing them to remain part of socialist Denmark, against their will, would be more "Poo-tin" like? It always amuses me seeing lefties hot takes, which never ever make an ounce of sense, just blindly copying their msm narratives. -
103
British Nationals Arrested with Cannabis and Laughing Gas in Phuket Raid
It can be taken away and will be taken away when it is time for remigration. Wait and see. -
26
Pattaya Prepares for 5,400 US Navy Visitors This January
Russia not too!!! Hahaha... -
1,293
Thai tax tangle: Expats warned of new rules on overseas income
This matches my understanding, where I had a running debate with Cyclist who held a different view. As I noted ... if one looks at the relevant DTAs (ie USA, Canada, and DTAs that cover civil service and military service pensions, the wording typically says something along the lines that such pensions are exclusively taxed (or can only be taxed) in the pension source country. This makes these pensions (in the noted DTAs) exempt Thai taxation per Royal Decree 18, which in essence means exempt from Thai tax calculation. Hence these pensions are not to be considered assessable in Thailand for taxation purposes. ie. no Thai tax to be paid on them, and further, they are not to be considered when assessing one's threshold for submitting an income tax return to Thailand. And if one needs to file a tax return to Thailand due to other income pushing one over the taxation submission threshold, those DTA tax exempt pensions are not to be listed on the Thai tax return form. This makes perfect sense given there is no location on the Thai tax return forms to list such pensions as exempt income. My hope is some of the sceptics on this forum (and this thread) take note. Of course not every DTA allows pension income to be treated as not assessable income by Thailand. German pensions (that are not civil servant and not military) are taxable in Thailand if remitted to Thailand (and they are not taxable in Germany). Of course this is my opinion, but it is gratifying to read of (and see video of) other's who share my view.
-
-
Popular in The Pub
-
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now