Big bike forced off road by car on Bangkok highway - video

[samran]

So, the regulation, in the original Thai, on the revenue departments website.

* The terms of the income from sources outside the country in the preceding tax year will have to pay tax in the country

when he and two elements of the following reasons.

(1) the money is. Who live in Thailand In the short period taxable year or period of time. Total of 180 days.

(2) The money has brought the money into Thailand in the tax year itself.

In some cases, loss of personal income tax. If the person concerned of the few countries that have * Double taxation

convention or agreement to avoid double taxation with Thailand needs to consider the Agreement or the Convention

on the Avoidance of Double Taxation between Thailand and has an agreement with them.

ok, so the translation isn't great...

but:

You are liable for tax on overseas earned income from the preceding year if:

1) you are resident in Thailand for more than 180 days; AND

2) those monies are transferred to Thailand in the same (preceding) tax year

The existence of a double tax treaty may take precedence over this rule - if applicable.

[Naam]

http://www.rd.go.th/publish/552.0.html and your translation made my day Samran! :jap:

[samran]

http://www.rd.go.th/publish/552.0.html and your translation made my day Samran! :jap:

happy to help you manage your monies good Doctor. You know my fees are very reasonable!

[MartinThai]

Thanks to everyone who has contrubuted here. For fear of flogging a dead horse, there may be other aspects to explore in this vain of enquiry that could also benefit the genereal reader.

Firstly, one of the best discriptions of clearly demonstarting that funds were earnt in a previous year is from an accountancy website which states:

"However, even though you meet the tax exemption guideline, you still have the burden of proof that you earn your income in the earlier years. If you make money in 2009, you should put it into the bank account where the passbook or bank statement showing that it has been deposited in 2009 and import it in 2010. If you do not have documentary proof, you might be deemed to have imported income in the same year that you earn and be subject to tax. In my view, documentary evidence will get you out of trouble."

However, this seems so much of a hassle as that then means that the $30,000 (say) is in a normal everyday account which usually earn bugger-all interest, where as in have it an internet account it is earning a far better interest rate - but limited access (certainly not by a card to access an internet account at an ATM.) So the $30,000 sitting in an everday account would be a waste in terms of un-earnt interest - it could be a thousand and a half a year in fact.

So I am more inclined to take one of the previous contributors advice (I think it was wordchild and others) that it might be going too far to cross every t and dot every i in terms of presenting evidence that funds were earnt in a previous year.

So, when it comes to tax time - what can I do able reporting the incomes.? Certainly the Thai incomes are reported as would be expected however, any funds brought into Thailand by way of ATM transcations I would be inclined to simply keep to myself. There is no paper-trail that the Revenue Department would have and maybe they are not even interested.

Any ideas from anyone - to just ignore stating any entry as foriegn income at tax time, and, if the Revenue Department ask for further details then present them with the fact that those funds were in fact from an already taxed pension source - but I don't really want to get into double-tax agreements as it is just more hassle on top of a hassle. (sorry for my bad attitude - but I do like to stay within the Law and maybe that means all the hassle is a fact of a legal lifestyle).

I'd rather simply not say too much on the Thai tax return and hope for the best. Am I inviting trouble, or, is my proposal a valid approach that maybe many other expats already take and never challenged.

Thanks again for some great input into this topic.

[samran]

I think you are getting your knickers in a twist over nothing.

As already proven - income bought into Thailand from previous years is NOT taxable.

That is - the tax man does not want to know about it. This has been said to me verbally, and I've shown you the relevant link to the RD website.

Filling in a tax return, all the tax man wants to know about is about income which is Taxable, and any deductions which can offset it.

Unlike the Australian tax return which can run to a hundred pages and be awfully complex, the thai tax return is little more than 2 pages long. Pretty simple and streamlined.

Clearly, your foreign income isn't of interest - so there is no need to report it on the tax return. I doubt from memory if there is even a column to input it.

So long as you have clearly partitioned your income 'in the background' between "T-year" income and "T - 1 year" income, then you already have your ducks lined up in a row.

If you are somehow audited (...and I'd rate the chances higher that you'll find virgin hooker in Pattaya who has only been been at the bar for 1 night before she met you), you already have the evidence ready for said audit with your account structure.

Don't stress. You'll be fine.

[Naam]

If you are somehow audited (...and I'd rate the chances higher that you'll find virgin hooker in Pattaya who has only been been at the bar for 1 night before she met you)...

[samran]

If you are somehow audited (...and I'd rate the chances higher that you'll find virgin hooker in Pattaya who has only been been at the bar for 1 night before she met you)...

Thank you, thank you (applause and laughter).I am here every night until the 29th. Tickets at the booth.

Edited January 18, 2011 by samran