Thai Tax Policy On Foreign Bank Accounts

[frumau]

I wonder if anybody could tell me how a foreign saving account is taxed by Thailand when you have a permanent residence visa/working permit or a type o marriage visa and live in Thailand?

As I will be moving to Thailand with my Thai wife from the EU(Holland) at the next year and am thinking of leaving money on my Dutch saving account I wonder about the financial consequences. I am quite sure that according to Dutch law I will not have to pay Dutch taxes on the saving money as long as I pay taxes and work in Thailand(a friend of mine will confirm this in the near future). But what taxes will the Thai state charge me with?

Anybody an idea?

Thanks for any sugestions or replies.

Edited December 14, 2004 by frumau

[Sumitr Man]

Hi there:

Before I, or anyone, can anwer your question I'd need to ask you one:

do you plan on bringing the interest acrrued into Thailand or will you just let it sit in Europe?

In the case that you just let it sit, the Thai Revenue Dept. won't touch it - outside of their jurisdiction. In the case that you decide to use it in Thailand, the issue becomes more complex - for example, one needs to look at the Double Tax Treaty betwen Holland and Thailand.

SM

[frumau]

Hi there:

Before I, or anyone, can anwer your question I'd need to ask you one:

do you plan on bringing the interest acrrued into Thailand or will you just let it sit in Europe?

In the case that you just let it sit, the Thai Revenue Dept. won't touch it - outside of their jurisdiction.  In the case that you decide to use it in Thailand, the issue becomes more complex - for example, one needs to look at the Double Tax Treaty betwen Holland and Thailand.

SM 

<{POST_SNAPBACK}>

yes i do mean to bring some money in later. And there is a double taxation treaty but I haven't found the actual text yet..

[frumau]

Hi there again!

Well I talked to the dutch irs helpdesk. They told me that I will have to pay taxes(1.2%) over my saving money if I exceed the 18800 euro border. And cause I am married I will have to pay tax after exceeding 2*18800 euro(shared income).

Furthermore, they told me in doen't matter if I decide to stay taxable according to the dutch law(an option for Dutch moving abroad/great for people earning houses or people wanting to keep on building up pension, etc) on a national basis or at a foreign basis(working and living in Thailand and having some kind of Dutch income) unless the double taxation treaty says otherwise. If I decide to be taxable on a foreign basis and I exceed 37600 euro I want to know if Thailand charges me and Holland as well. I hope the treaty excludes that!

They will send the text to me as soon as possible.

Edited December 15, 2004 by frumau