RhodeIslandRed Posted August 18, 2005 Share Posted August 18, 2005 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. Link to comment Share on other sites More sharing options...
chownah Posted August 18, 2005 Share Posted August 18, 2005 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. Link to comment Share on other sites More sharing options...
Firefan Posted August 18, 2005 Share Posted August 18, 2005 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! Link to comment Share on other sites More sharing options...
RhodeIslandRed Posted August 18, 2005 Author Share Posted August 18, 2005 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? Link to comment Share on other sites More sharing options...
Lancelot Posted August 18, 2005 Share Posted August 18, 2005 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 Link to comment Share on other sites More sharing options...
ericg1953 Posted August 18, 2005 Share Posted August 18, 2005 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. Link to comment Share on other sites More sharing options...
Ricardo Posted August 19, 2005 Share Posted August 19, 2005 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 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now