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Thai Tax on UK pensions


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Posted
17 hours ago, Humpy said:

From Press reports I understood that expats recieving income abroad were to be taxed.... yes or no ?

 UK or Thai press?

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Posted

Decided wasn't worth sitting and worry over this,nothing positive showing online so went and filed,little longer in Wang Chao,but no problems.as above nothing to pay,allowances more than pension. But I can sit back and relax for another year.

Was it worth the effort,I think so.

 

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Posted
10 minutes ago, leonard beaven said:

Decided wasn't worth sitting and worry over this,nothing positive showing online so went and filed,little longer in Wang Chao,but no problems.as above nothing to pay,allowances more than pension. But I can sit back and relax for another year.

Was it worth the effort,I think so.

 

Been told you no need to file full stop and several times by my local Revenue Office and as per your circumstances.

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Posted

I had a BKK firm file for me, as I have multiple sources of UK income that is assessable. At the end of the day, the Thai allowances, tax thresholds and the offset from my UK tax paid to HRMC yielded nothing to pay here in Thailand. Worth the peace of mind in case they decide to quiz you on tax status at your next visa renewal/extension, or upon trying to leave the Kingdom.

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Posted

My Thai Partner completes a form for me every year and I get a refund of nearly 2K baht (1,577.44 THB) from my 800K fixed savings account, for my Renewal/ Extension Visa.

 

It probably isn’t the same form as declaring Income, but that’s my only communication with my local tax Office.

 

My pension is small and used for living expenses, subsidised by my partner’s income!

 

 

Posted
19 hours ago, Humpy said:

From Press reports I understood that expats recieving income abroad were to be taxed.... yes or no ?

Seems every Tax Office in Thailand has its own idea's but mine told me no Law has been passed through Parliament and therefore nothing has changed until further notice.   I just recieved a Cheque for my Tax Refund today so all is well as far as i am concerned.

 

I have been told that we Expats have a Tax allowance of 520,000 Baht before any 'assessable Income' is applied.

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Posted
1 hour ago, Sheryl said:

Not in any way  specific to expats. 

Anyone, regardless of nationality, is a Thai tax resident if in Thailand 180 days or more in a calendar year.  But only assessable income can be taxed, and tax will be owed  then only if the total minus all  allowed exemptions  deductions and allowances exceeds 150k.  A single person aged 65 and over gets 350k in exemptions/deductions. So would have to remit over 500k to owe anything (more if married or have dependents  or eligible for certain other deductions). . 

 

What income is assessable varies depending on terms of the applicable Dual Taxation Agreement.  For UK,   government pensions are non-assessable in Thailand  but state pensions are assessable.  In practice will usually not owe tax if the only remitted income is the UK state OAP.

 

Technically it is required to file if you remitted over 60k in assessable income. In practice many RD offices are telling people not to bother filing if no tax owed.

 

Posted

Then why was my friend who went to his local tax office in Yasothon and explained he had transferred 1.1M baht last year to his Thai bank accounts from his Company and State pension, told he owed 40,000 baht?

 

He's on a 1 year extension.

 

I await you response with considerable interest.

There is a total lack of understanding from, in this case local officials who haven't a clue about what's coming out of TRD in Bangkok.

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Posted
2 hours ago, Jaxxper said:

I had a BKK firm file for me, as I have multiple sources of UK income that is assessable. At the end of the day, the Thai allowances, tax thresholds and the offset from my UK tax paid to HRMC yielded nothing to pay here in Thailand. Worth the peace of mind in case they decide to quiz you on tax status at your next visa renewal/extension, or upon trying to leave the Kingdom.

 

Can I ask how much they charged you for the service ?

 

Posted
1 hour ago, Andycoops said:

Then why was my friend who went to his local tax office in Yasothon and explained he had transferred 1.1M baht last year to his Thai bank accounts from his Company and State pension, told he owed 40,000 baht?

 

He's on a 1 year extension.

 

I await you response with considerable interest.

There is a total lack of understanding from, in this case local officials who haven't a clue about what's coming out of TRD in Bangkok.

Because the income was all assessable, and 1.1 m is considerably more than 500k.

 

The tax computation they made  is correct. Visa status  is irrelevant.

 

 

 

 

 

 

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Posted
2 hours ago, trainman34014 said:

 

I have been told that we Expats have a Tax allowance of 520,000 Baht before any 'assessable Income' is applied.

There are no special allowances or tax rules for expats. 

 

All tax residents get a 60k personal deduction.  All who are over age 65 get an additionsl 190k deduction.  Everyone with income (including pensions)  is allowed to deduct up to  another 100k (non-receipted) as expenses. And the first 150k of the balance is 0 tax. 

Posted

Thank you, Sheryl, for a succinct, clear and accurate statement.  
 

But note that for higher transfers of taxed income the detailed requirements and allowances of each countries DTA need also to be taken into account. 

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