Taxable income threshold amount.

[notrub]

08 05 2025

 

I have been living in Thailand for a number of years with a non 'o' retirement visa.  I am married to a Thai woman and we live in the rural Isaan village of her family.  I had some cash so I bought land, gave it to wife and have use of it via an usufruct contract.  On this land I built a house, a pool and other buildings for our use.  We have no children from this relationship.  Everything we have is paid for and now we live on my (very) small pension. I have enough funds on deposit to renew my retirement visa but that is it as far as money goes.

 

My question is about the level at what level my income becomes taxable, please?   Would 'windfall payments' of 100,000 THB be taxable if this money had been taxed at source already?  I speak about accumulated tax refunds (over payment) from the country where my pension comes from.

 

Thanks in advance for any comments🙏

 

 

 

 

[treetops]

Forget about it.

 

Unless you go insisting to pay and your local tax office fancies taking you for a ride you'll never be bothered by the taxman as things stand.

[topt]

1 hour ago, notrub said:

Thanks in advance for any comments

If you haven't looked at the link below it may help you understand the theory at least.

Unfortunately almost none of the info you provided in the first post is that relevant......saying that I don't necessarily disagree with the first reply above.....

 

Even if you only read the first page it should give you a basic understanding.

 

 

[notrub]

Thank you Tpot and Treetop,  here is an email from krungthai bank.  I have not responded to this.  I am here on a UK passport and have zero to do with the us. Is this safe to ignore?

 

URGENT: Please contact your nearest or most convenient Krungthai Bank Branch as soon as possible to update your accounts maintained with us. As required by the Common Reporting Standard (CRS) and the Foreign Account Exchange Compliance Act (FATCA), after review of your account information, you may be a tax resident of a CRS participating and/or reportable jurisdiction or a United States person under FATCA or the information submitted by you to the Bank contains incorrect and/or incomplete information in accordance with CRS and/or FATCA requirements. For more information, please contact the Krungthai Contact Center at +662-111-1111

 

Also, I am over 65 and married.  All other considerations aside it seems that I have a 310,000 basic plus another 150,000 on the bottom line.  Is this correct(ish)?

 

Thanks very much for your comments🙏

[treetops]

7 hours ago, notrub said:

URGENT: Please contact your nearest or most convenient Krungthai Bank Branch as soon as possible to update your accounts maintained with us. As required by the Common Reporting Standard (CRS) and the Foreign Account Exchange Compliance Act (FATCA), after review of your account information, you may be a tax resident of a CRS participating and/or reportable jurisdiction or a United States person under FATCA or the information submitted by you to the Bank contains incorrect and/or incomplete information in accordance with CRS and/or FATCA requirements. For more information, please contact the Krungthai Contact Center at +662-111-1111

 

Many people got these messages and it's a box ticking exercise for the banks, but I would probably go in next time I'm close if I were you and sign the forms.  There's a few threads on here about the procedure if you can find them.

[OJAS]

18 hours ago, treetops said:

There's a few threads on here about the procedure if you can find them.

.. of which this is one:

 

 

[Drumbuie]

On 5/9/2025 at 7:42 AM, notrub said:

Thank you Tpot and Treetop,  here is an email from krungthai bank.  I have not responded to this.  I am here on a UK passport and have zero to do with the us. Is this safe to ignore?

 

URGENT: Please contact your nearest or most convenient Krungthai Bank Branch as soon as possible to update your accounts maintained with us. As required by the Common Reporting Standard (CRS) and the Foreign Account Exchange Compliance Act (FATCA), after review of your account information, you may be a tax resident of a CRS participating and/or reportable jurisdiction or a United States person under FATCA or the information submitted by you to the Bank contains incorrect and/or incomplete information in accordance with CRS and/or FATCA requirements. For more information, please contact the Krungthai Contact Center at +662-111-1111

 

Also, I am over 65 and married.  All other considerations aside it seems that I have a 310,000 basic plus another 150,000 on the bottom line.  Is this correct(ish)?

 

Thanks very much for your comments🙏

The UK signed up to the Common Reporting Standard in 2017 so you should probably set aside a day and take your documents to the bank. In my case at least,  the Thai tax regime gives more generous allowances than HMRC and I have chosen to pay tax here rather than there. 

 

[rwill]

That message has to do with a Thai bank possibly being required to report interest paid to you back to your home country.

 

Years ago I opened an account with KTB.  Instead of doing the required FACTA paperwork for the USA they just decided to not pay me any interest.

[Presnock]

On 5/8/2025 at 2:20 PM, notrub said:

08 05 2025

 

I have been living in Thailand for a number of years with a non 'o' retirement visa.  I am married to a Thai woman and we live in the rural Isaan village of her family.  I had some cash so I bought land, gave it to wife and have use of it via an usufruct contract.  On this land I built a house, a pool and other buildings for our use.  We have no children from this relationship.  Everything we have is paid for and now we live on my (very) small pension. I have enough funds on deposit to renew my retirement visa but that is it as far as money goes.

 

My question is about the level at what level my income becomes taxable, please?   Would 'windfall payments' of 100,000 THB be taxable if this money had been taxed at source already?  I speak about accumulated tax refunds (over payment) from the country where my pension comes from.

 

Thanks in advance for any comments🙏

 

 

 

 

Basically would need to know from what country your pension is from - civil govt or public company or what.  You can go on the Revenue Dept web site for the chart on earned income deductions, etc.  https://rd.go.th oh, I forgot add "/English" after that 

[Srikcir]

6 hours ago, rwill said:

Instead of doing the required FACTA paperwork for the USA they just decided to not pay me any interest

Bank pays me interest but also deducts for income tax on interest so there's no push to do FACTA paperwork, especially since I am exempt from Thai income tax. 

[khunPer]

On 5/8/2025 at 9:20 AM, notrub said:

08 05 2025

 

I have been living in Thailand for a number of years with a non 'o' retirement visa.  I am married to a Thai woman and we live in the rural Isaan village of her family.  I had some cash so I bought land, gave it to wife and have use of it via an usufruct contract.  On this land I built a house, a pool and other buildings for our use.  We have no children from this relationship.  Everything we have is paid for and now we live on my (very) small pension. I have enough funds on deposit to renew my retirement visa but that is it as far as money goes.

 

My question is about the level at what level my income becomes taxable, please?   Would 'windfall payments' of 100,000 THB be taxable if this money had been taxed at source already?  I speak about accumulated tax refunds (over payment) from the country where my pension comes from.

 

Thanks in advance for any comments🙏

100,000 baht, 50% deduction of income, not more than 100k baht

  60,000 baht, personal allowance

190,000 baht, retirement deduction if over 65 years

150,000 baht, limit for income taxation

------------

500,000 baht, before any income taxation.

 

Additionally you can have 60,000 baht deduction for spouse, if she has no income of her own.

 

Income taxationbegind with 5% for the first taxable 150,000 baht.

 

- - -

The online E-filling tax return is easy, but it cannot (at present) handle already taxed foreign income. If foreign taxed income exceeds the limit of for example 500,000 baht, and you wish to deduct foreign paid income tax in accordance with a Doubte Taxation Agreement between Thailand and your home country, you will need to fill an P.N.D.90 paper tax return form.