Retirement Extension Of Stay

[melmark]

I tried to search but couldn't find what I was looking for. Maybe I didn't do it right.

My question is: If you obtain an extension of stay for retirement based on monthly income of 65,000 baht is there any personal incme tax obligations to Thailand on that retirment income?

thanks in advance

Melmark

[Lite Beer]

I tried to search but couldn't find what I was looking for. Maybe I didn't do it right.

My question is: If you obtain an extension of stay for retirement based on monthly income of 65,000 baht is there any personal incme tax obligations to Thailand on that retirment income?

thanks in advance

Melmark

Only if the income is earned in Thailand.

[InterestedObserver]

I tried to search but couldn't find what I was looking for. Maybe I didn't do it right.

My question is: If you obtain an extension of stay for retirement based on monthly income of 65,000 baht is there any personal incme tax obligations to Thailand on that retirment income?

thanks in advance

Melmark

Only if the income is earned in Thailand.

Or brought into Thailand during the year in which in was earned, unless your home country has a Tax Treaty with Thailand.

[melmark]

I tried to search but couldn't find what I was looking for. Maybe I didn't do it right.

My question is: If you obtain an extension of stay for retirement based on monthly income of 65,000 baht is there any personal incme tax obligations to Thailand on that retirment income?

thanks in advance

Melmark

Only if the income is earned in Thailand.

Or brought into Thailand during the year in which in was earned, unless your home country has a Tax Treaty with Thailand.

Still a little confused. So if I would bring my pension into Thailand from the USA each month is that considered to be earned income brought into the country and therefore taxable?

Just trying to figure out if there would be a tax disadvantage in going with the 65,000 income each month versus having 800,000 in the bank.

thanks

Melmark

[InterestedObserver]

The US has a Tax Treaty with Thailand. Your US income is taxed at the source, the US, therefore excluded from income in Thailand. Pensions and Social Security are specifically referenced. The treaty prevents double taxation.

[lopburi3]

Thailand makes no effort to collect tax from those on retirement. Tax treaties may exempt you but they often do not cover as much as we may think (read the US treaty closely and believe you will find it does not cover a lot). But it is a non-issue to date.