Phuket netizens slam half-naked foreign man on red baht bus
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24
Question: "Is life but a joke?"... Maybe, becoming more so, by the day?
You possibly have some brain damage from listening to Jimi Hendrix. The good news is that it's like smoking. It's reversible once you stop. -
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1,776
Thai tax tangle: Expats warned of new rules on overseas income
More from my one hour phone consultation with the TRD call center today: Q: If I invested income 40 years ago into a life insurance annuity and now I am receiving return of original capital, is that receipt of the original capital exempt from Thai taxes upon remittance under P. 162A regarding pre-2024 income? A: Unless the life insurance annuity is with a Thai company, the RD considers that assessable income arises when you receive the annuity payment from the life insurance company regardless of the fact that you deposited the funds 40 years ago. Q: According to a prominent Thai tax advisory services company website, annuities are to be reported under income category 40(3); is this correct? Understanding Assessable Income from Intellectual Property and Annuities (Section 40(3)) Paragraph 3 of Section 40 of the Thai Revenue Code addresses income derived from intellectual property rights, annuities, and similar revenues. This category includes: Goodwill: Payments received for utilizing a business’s strong reputation or brand identity. Copyrights and Other Rights: Income from intellectual property such as copyrights, trademarks, patents, or other proprietary rights. Annuities: Ongoing payments from sources like private retirement plans, investments, or insurance products. Annual Payments: Regularly received fixed sums stipulated by a will or other legal agreements. Income from Juristic Acts or Court Decisions: Payments mandated by legal rulings, including settlements or other court-awarded compensations. https://www.expattaxthailand.com/understanding-assessable-foreign-sourced-income-in-thailand/ A: Assessable income from a life insurance annuity is to be reported under category 40(8) under "other," not under category 40(3), which only applies to court-ordered payments of compensation. The fact that you deposited assessable income into the annuity under a legal contract 40 years ago is irrelevant for Thai income taxation. The tax year when you receive the repayment of your principal is when you receive assessable income that is subject to taxation upon remittance to Thailand. The overwhelming influence of the recent RD Order P. 162A vis-a-vis the tax code and standard Thai taxation practices does not appear to have been taken into consideration by the call center official. P. 162A is only now undergoing it first test in the real world of the Thai remittance-based income tax system. Live & learn! -
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UR CNY Celebration?: Will you add Chinese OpenSource AI to your computer tonight?!!!
Upon what evidence do you base such an assumption? Are you not being just a bit overly presumptuous???? -
56
Thailand Boosts Transgender Health with 145.63 Million Baht Hormone Initiative
Sad but irrelevant. -
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