Taxing Retirees

[RhodeIslandRed]

Can some one tell me if I retire in Bangkok and live in a rented apt.. no auto or real estate ownership, but do have a bank account , what kind of taxes is required to the city and the government of Thailand.

[chownah]

If your money is made outside Thailand and you just bring the money into Thailand then you do not pay taxes on it in Thailand. For example, if you get social security in the US and you have the money sent to your bank in Thailand, then you 'made' the money in the US and you are sort of 'importing' the money into Thailand. There is no import duty on money. The gov't is glad that you're going to spend it here and they want to encourage you to bring in as much as possible.

[Firefan]

I believe that Chownah has the real life situation pat down, but I think that of one stays more than 6 months (per year) here, one becomes taxable.

One is however only taxable on foreign income earned the same income year as one brings in the money... slightly confusing - especially for pension income I could imagine?

Cheers!

[RhodeIslandRed]

I believe that Chownah has the real life situation pat down, but I think that of one stays more than 6 months (per year) here, one becomes taxable.

One is however only taxable on foreign income earned the same income year as one brings in the money... slightly confusing - especially for pension income I could imagine?

Cheers!

<{POST_SNAPBACK}>

Thanks Guys.....are there any residency taxes annually to the city or gov't?

[Lancelot]

I have been retired in Bangkok for three years and never paid any income tax. No (Thai) earned income - no Thai tax.

Most goods and services include the 7% VAT tax, but that is no big deal.

Chook dee!

Lance

[ericg1953]

I have been retired in Bangkok for three years and never paid any income tax. No (Thai) earned income - no Thai tax.

Most goods and services include the 7% VAT tax, but that is no big deal.

Chook dee!

Lance

<{POST_SNAPBACK}>

Does anybody know if there is property tax when you buy a condo in thailand.

[Ricardo]

Thanks Guys.....are there any residency taxes annually to the city or gov't?

<{POST_SNAPBACK}>

Well ... if the village is having a clean-the-road day, we usually contribute some soft-drinks or money for fried-rice, as well as pitching-in with brushes or spades & clippers. And we once volunteered to buy the voluntary overnight-security guys some nice day-glo jackets, to keep them warm, while they sleep.

But formal residency-taxes ? Nah ! No service = no tax

Oh , don't forget the charges at Immigration - I suppose they count as a sort of residency-tax too.

And excise-duty on Chang