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Pension Income

Featured Replies

Hi. I am coming up to my 10th year visa!(Wow) (what Joy)! In the past I have always used the 400K money in the bank option to support the application. This year with the pound so weak I am going to show them my pension income using the proof of income letter from the Brit embassy.Can any one tell me do the Chiang mai immigration office still ask for the Thai bank books to be copied?

Mostly as the pound so weak we dont keep much cash in the Thai bank at all.

Thanks a lot

Pip Chatel

There is a catch with this - foreign pensions are classed as income in Thailand and therefore can attract Thai income tax!!!! Recent court case determined this

  • Author

There is a catch with this - foreign pensions are classed as income in Thailand and therefore can attract Thai income tax!!!! Recent court case determined this

jeez, I already pay UK tax on the pension income

cheers

There is a catch with this - foreign pensions are classed as income in Thailand and therefore can attract Thai income tax!!!! Recent court case determined this

jeez, I already pay UK tax on the pension income

cheers

And therefore protected by the double taxation agreement between The UK and Thailand.

theoldgit

Only when it is brought into the country the same year as you received the income.

Secondly, Thailand has treaties with many countries to prevent double taxing.

  • Author

Only when it is brought into the country the same year as you received the income.

Secondly, Thailand has treaties with many countries to prevent double taxing.

Great I really never was worried about Thai tax as I pay UK tax.

But back to my original thing "will Chiang mai immigration still ask Thai bank book copies with the proof of pension income letter??"You just never know with these guys (and Dolls)and always good to be prepared I think

again, thank you all for your time

Pip

Edited by pipchatel

I don't know about CM-immigration. Some immigration offices do want to see a bankbook with some money in it, normally 20,000 is more than enough to show that you have money to support yourself in Thailand. Can't hurt to make a copy of the bankbook, but would only provide it when asked for it.

  • Author

I don't know about CM-immigration. Some immigration offices do want to see a bankbook with some money in it, normally 20,000 is more than enough to show that you have money to support yourself in Thailand. Can't hurt to make a copy of the bankbook, but would only provide it when asked for it.

Thanks a lot sounds a good plan cheers

pip

I renew my visa extension in Udon using the income from pension route, last renewal was April. The officers did not require presentation of a bank book.

Good Luck in CM.

  • Author

I renew my visa extension in Udon using the income from pension route, last renewal was April. The officers did not require presentation of a bank book.

Good Luck in CM.

Cheers, thats sounds good, always good to get help facts through this site

pip

There is a catch with this - foreign pensions are classed as income in Thailand and therefore can attract Thai income tax!!!! Recent court case determined this

jeez, I already pay UK tax on the pension income

cheers

And therefore protected by the double taxation agreement between The UK and Thailand.

Technically not correct. The agreement covers government pensions, i.e. pensions paid to ex-government officials. It does not cover state pensions or private pensions.

I agree with AyG.

I am not aware of the court case referred to.

As any UK pensioner in Thailand knows his pension is taxed in the UK. Under the Double Taxation agreeement pensions are not exempt from Thai income tax BUT UK Tax Paid must be credited against Thai tax. Refer to HM Revenue & Coustoms Double Taxation Relief Manual. DT18722 - DT: Thailand: double taxation agreement, Article 23: Elimination of double taxation (subsection (3)). Of course you'd have to be an idiot to declare your pension to Thai authorities.

AyG correctly points out there is an exception. UK Governement or local authority pensions are exempt from Thai tax provided the recipient is not a Thai national resident in Thailand. DT18718 - DT: Thailand: double taxation agreement, Article 19: Governmental services.

As any UK pensioner in Thailand knows his pension is taxed in the UK. Under the Double Taxation agreeement pensions are not exempt from Thai income tax BUT UK Tax Paid must be credited against Thai tax. Refer to HM Revenue & Coustoms Double Taxation Relief Manual. DT18722 - DT: Thailand: double taxation agreement, Article 23: Elimination of double taxation (subsection (3)). Of course you'd have to be an idiot to declare your pension to Thai authorities.

AyG correctly points out there is an exception. UK Governement or local authority pensions are exempt from Thai tax provided the recipient is not a Thai national resident in Thailand. DT18718 - DT: Thailand: double taxation agreement, Article 19: Governmental services.

I am aware that my Civil Service Pension will continued to be taxed in the UK, but does that mean that I can ask for my State Pension, when due, to be paid without deduction of Tax either to Thailand or to my Offshore account in the IOM?

Would there be any benefit given the tax is only about £1000?

theoldgit

Technically not correct. The agreement covers government pensions, i.e. pensions paid to ex-government officials. It does not cover state pensions or private pensions.

Wrong, the US - Thailand double taxation treaty also covers Social Security and IRA type pensions paid to private individuals. Those pensions are taxed at the source, the US.

Edited by InterestedObserver

Oldgit,

My apology. The exemption for government pensions refers to government service (eg Civil Service, military service) pensions, not old age (state) pensions.

The basic state pension is not taxed. Instead the amount paid is taken from your tax allowance resulting in you paying more tax on your civil service pension.

I'd be interested to know, if any forum member has his UK state (old age) pension paid direct to a Thai bank a/c, how much they lose in commission/exchange fees.

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