Tax on rental property income, non-resident

[cameroon kid]

I am an American with a rotational job overseas who visits Thailand frequently (4 to 6 times yearly) as a tourist for 2-3 weeks at a time.  I'm purchasing a condo for investment/rental purposes, and was investigating income tax issue.

I have checked out income tax summary on thaivisa.com as well as http://www.us-asean.org/Thailand/business_guide/taxation.htm, but was looking for anyone with personal experiences they might share.

It seems to me that if I buy a ~4 mil condo and rent it out for 20,000/month, the various "deductions" (10-30%) and "allowances" (30,000 Baht for me, 30,000 Baht for Thai wife) are such that I needn't pay any tax to the Thai governemnt.

Can anyone confirm my understanding?  Thanks...

[ppsproperty]

You should pay tax on rental income at 12.5%, clearly, at 20,000 a month rental the amount is negligable. Cheers.

[lanny]

I am not an authority on Thai taxes -- U.S. taxes are my area of expertise.

At 240,000 Baht a year rent income, you shouldn't have much, if any, U.S. tax to pay.  If you do pay Thai tax, however, that tax is available as a credit against any U.S. tax that would be applicable.

For U.S. tax purposes, however, it can get complicated if you use the condo yourself when you are here.