You and your Thai Wife of 20 years.

[Powerband]

Anyone ever file a thai tax return?

How much could I expect back on my measely 45k per month salary?

and is it true that the Thai social security fund has a new 750 baht limit opposed to the old 450 baht limit?

[mark5335]

The amount you get back, (or the additional amount you may have to pay!), will depend upon whether your employer had been remitting the correct amount of with-holding tax to the Revenue Dept each month. Other factors which may impact whether your receive a refund would include deductions for spouse, supporting in-laws, contributions to retirement fund, housing loan interest paid etc. If you have a simple tax return and your emplyer has remitted the correct amount of with-holding tax from your monthly salary, then the amount of refund, if any, would be minimal.

[maewang99]

been filing for 5 years. best deal is if you have Thai dividends you get refunds of the withholding tax plus a refundable credit on the taxes that the issuing company paid, which bumps up most yields by about 50%.

this is on the 10% withholding plus 3/7 of the dividend because the dividend check is cut after the 30% corporate rate is assessed.

but you must use a Thai broker because if you hold NVDR's in a Schwab account for example, whihc are refundable even if in an IRA account, they are always registered in the name of a nominee, for example Schwab uses "Gerlach & Company" (so that they don't need to segregate holdings nor disclose the name of the ""foreign"" shareholder, wink wink)... Thai Revenue will disallow your refund (in spite of the Nondiscrimination Clause of the US-Thai Tax Treaty) so held.

[Time Traveller]

been filing for 5 years. best deal is if you have Thai dividends you get refunds of the withholding tax plus a refundable credit on the taxes that the issuing company paid, which bumps up most yields by about 50%.

this is on the 10% withholding plus 3/7 of the dividend because the dividend check is cut after the 30% corporate rate is assessed.

but you must use a Thai broker because if you hold NVDR's in a Schwab account for example, whihc are refundable even if in an IRA account, they are always registered in the name of a nominee, for example Schwab uses "Gerlach & Company" (so that they don't need to segregate holdings nor disclose the name of the ""foreign"" shareholder, wink wink)... Thai Revenue will disallow your refund (in spite of the Nondiscrimination Clause of the US-Thai Tax Treaty) so held.

That is not entirely correct. Being entitled to Tax credits is not from what broker you use, it's to do with holding depository receipts (or an interest through a nominee) against holding shares. You need to hold shares in the company (for non-Thais this means holding foreigner shares) to be entitled to tax credits (you will see this on you dividend statement if you can read thai. NVDRs are not the same as shares despite what SET & SEC would have you believe, and they are not entitled to the corporate tax credits.

[TerryLH]

"and is it true that the Thai social security fund has a new 750 baht limit opposed to the old 450 baht limit?"

That is the regular price. During the last year the rate was lowered as part of their economic plan to put more baht in the hands of the people.

The rate returned to normal at the first of the year.