Thailand triumphs in UN Human Rights council bid

[oldthaihand99]

continued from the topic:

Are you REALLY a tourist?! - Thai Immigration Poi Pet border Cambodia

Started by liamstevens111, 2014-06-27 10:58

http://www.thaivisa.com/forum/topic/737945-are-you-really-a-tourist-thai-immigration-poi-pet-border-cambodia/page-4

Pension is not taxable

well this is what I have read on the issue..

A determination of the Thai tax treatment for cross-border pension payments starts at the local law level. Section 41 of the Thailand Revenue Code prescribes that a resident of Thailand, who earns income from a post or an office held abroad or a business carried on abroad or from property situated abroad, shall, upon bringing that income into Thailand, pay income tax in Thailand. Section 41 defines a resident as a person who resides in Thailand for a period (or periods) that aggregates 180 days or more in the tax year (which runs from January to December).

Accordingly therefore, a foreign pensioner who is a tax resident of Thailand and living on the income from a foreign pension fund, shall, according to the local tax law, pay income tax on the amount of the pension brought into Thailand.

This local tax law requirement can however be over-ridden by a relevant provision in a Double Tax Treaty with Thailand.

What you posted contradicts itself. First is says " earns income from a post or an office held abroad or a business carried on abroad or from property situated abroad,"

A pension is not from any of those.

See this page on revenue department website: http://www.rd.go.th/publish/6045.0.html

Edited June 30, 2014 by oldthaihand99

[thailiketoo]

What is the topic? Why would you continue it? Why not post in the original? If you have information that Thailand is taxing pensions post it.

Edited June 30, 2014 by thailiketoo

[oldthaihand99]

Pension is not taxable

well this is what I have read on the issue..

A determination of the Thai tax treatment for cross-border pension payments starts at the local law level. Section 41 of the Thailand Revenue Code prescribes that a resident of Thailand, who earns income from a post or an office held abroad or a business carried on abroad or from property situated abroad, shall, upon bringing that income into Thailand, pay income tax in Thailand. Section 41 defines a resident as a person who resides in Thailand for a period (or periods) that aggregates 180 days or more in the tax year (which runs from January to December).

Accordingly therefore, a foreign pensioner who is a tax resident of Thailand and living on the income from a foreign pension fund, shall, according to the local tax law, pay income tax on the amount of the pension brought into Thailand.

This local tax law requirement can however be over-ridden by a relevant provision in a Double Tax Treaty with Thailand.

What you posted contradicts itself. First is says " earns income from a post or an office held abroad or a business carried on abroad or from property situated abroad,"

A pension is not from any of those.

See this page on revenue department website: http://www.rd.go.th/publish/6045.0.html

Pensions from abroad are officially taxed in Thailand.

Prove it. The link I posted does not include pensions in the tax base.

Do you know anybody here that is paying taxes on their pension?

That link is a brief summary. The actual law is here & says "pensions" are income tax "assessible income":

http://www.rd.go.th/publish/37749.0.html#section40

[thailiketoo]

That link is a brief summary. The actual law is here & says "pensions" are income tax "assessible income":

http://www.rd.go.th/publish/37749.0.html#section40

Nonsense. Like I said above, "If you have information Thailand is taxing pensions post it" That means if you know of any farang paying Thai tax on a pension post it. Instead of SH** Stirring.

You have been trying to push this same story for two years why don't you give up?

http://www.thaivisa.com/forum/topic/568118-has-anyone-a-story-to-tell-ref-thai-tax-on-retirement-pension-payments/

Edited June 30, 2014 by thailiketoo

[oldthaihand99]

That link is a brief summary. The actual law is here & says "pensions" are income tax "assessible income":

http://www.rd.go.th/publish/37749.0.html#section40

Nonsense.

Do you believe the following is "nonsense"?...

"Section 40 Assessable income is income of the following categories including any amount of tax paid by the payer of income or by any other person on behalf of a taxpayer."

"(1) Income derived from employment, whether in the form of salary, wage, per diem, bonus, bounty, gratuity, pension, house rent allowance, monetary value of rent-free residence provided by an employer, payment of debt liability of an employee made by an employer, or any money, property or benefit derived from employment.^4"

^{http://www.rd.go.th/publish/37749.0.html#section40}

[oldthaihand99]

What is the topic? Why would you continue it? Why not post in the original?

If you had read the title here & the original topic, the answers would be obvious.

[thailiketoo]

That link is a brief summary. The actual law is here & says "pensions" are income tax "assessible income":

http://www.rd.go.th/publish/37749.0.html#section40

Nonsense.

Do you believe the following is "nonsense"?...

"Section 40 Assessable income is income of the following categories including any amount of tax paid by the payer of income or by any other person on behalf of a taxpayer."

"(1) Income derived from employment, whether in the form of salary, wage, per diem, bonus, bounty, gratuity, pension, house rent allowance, monetary value of rent-free residence provided by an employer, payment of debt liability of an employee made by an employer, or any money, property or benefit derived from employment.^4"

^{http://www.rd.go.th/publish/37749.0.html#section40}

Nonsense. Like I said above, "If you have information Thailand is taxing pensions post it" That means if you know of any farang paying Thai tax on a pension post it. Instead of SH** Stirring.

You have been trying to push this same story for two years why don't you give up?

http://www.thaivisa....nsion-payments/

Easy to shut me up. If you have any information of a Farang paying Thai tax on a pension post it?????

Edited June 30, 2014 by thailiketoo

[oldthaihand99]

Like I said above, "If you have information Thailand is taxing pensions post it" That means if you know of any farang paying Thai tax on a pension post it.

The subject is the law re pensions & income tax in Thailand. Is it taxable or not? Yes or no? Or do you just not have a clue?

Personally i don't know any farangs in the country. But I'm sure there are many who are breaking Thai laws & getting away with it...until they get caught or they are enforced.

Likely there are farangs who file Thai income tax forms & declare their pension income & there are foreigners who refuse to file even though they must. Of those who declare their pension income, i would not be surprised if many of them pay tax to Thailand on it. Perhaps some Thai tax lawyers & accountants could inform you on that subject.

"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"

---

"Under the Double Taxation agreeement pensions are not exempt from Thai income tax BUT UK Tax Paid must be credited against Thai tax"

---

http://www.thaivisa.com/forum/topic/373879-pension-income/

"Mr. Sanit Rangnoi, Director-General of the Revenue Department, said 'Every unit has to intensively investigate those suspicious activities and put heavy penalties on evaders and fraudsters, as well as track new schemes of tax evasion / fraud in order to be fair to the honest taxpayers."

Edited June 30, 2014 by oldthaihand99

[Sandman77]

Nobody has to pay taxes living in Thailand on there pension

Expats leaving eu, also not must pay taxes on there homecountry!

Someone told me , if you realy chancel everything in the eu , have no home adress or house you only allowed stay one week in your home country if you stay longer you got taxed again!

The rest about Thailand tax other pension is since fiction !

Edited June 30, 2014 by Sandman77

[Pattszero]

I have heard of the UK authorities suggesting this to pensioners here, however, I'm not up for getting involved in this fight.

It has always been the position of the UK gov that you must be tax compliant in your domicile, and be able to prove that you were when you returned to the UK, if asked. I was asked twenty years ago to prove I was compliant and I was - nothing to do with pensions, though, I was only twenty-eight.

To me it's one of those technicalities - and until either or both of the nations involved start to enforce the policy, the OP is just flying a kite.

Maybe he likes worrying about things.

[wordchild]

I think you are right,(oldthaihand99) by a strict interpretation of the rules anyone who resides in Thailand for more than the 180 days and who brings in any income (incl pensions) in the same year that it was earned could be subject to Thai tax. One would need to check the relevant taxation treaty between Thailand and the country that was the source of the income to see if it was covered by any double taxation treaty, if not, there is a risk of it being subject to further tax in Thailand. The treaty between the UK and Thailand , for example, does not cover pensions, so there is a theoretical risk of double taxation on pensions from there. I have never heard of anyone having an issue with this and if you have no other income in Thailand ,and no need to declare anything else , then you are off their radar anyway. In my opinion it's a theoretical concern rather than a real one. To be completely safe what one needs to do is to hold the income offshore until the 1st jan of the year after you earned the income , bringing it in after that date means that it is classed as capital and not income and no tax would be due anyway. This is the routine practice for those who are Thai tax payers but also have other sources of income offshore.

Edited June 30, 2014 by wordchild

[CharlieH]

As this is clearly a "money" matter, lets move it over to the appropriate forum.

MOVED

[Naam]

I think you are right,(oldthaihand99) by a strict interpretation of the rules anyone who resides in Thailand for more than the 180 days and who brings in any income (incl pensions) in the same year that it was earned could be subject to Thai tax. One would need to check the relevant taxation treaty between Thailand and the country that was the source of the income to see if it was covered by any double taxation treaty, if not, there is a risk of it being subject to further tax in Thailand. The treaty between the UK and Thailand , for example, does not cover pensions, so there is a theoretical risk of double taxation on pensions from there. I have never heard of anyone having an issue with this and if you have no other income in Thailand ,and no need to declare anything else , then you are off their radar anyway. In my opinion it's a theoretical concern rather than a real one. To be completely safe what one needs to do is to hold the income offshore until the 1st jan of the year after you earned the income , bringing it in after that date means that it is classed as capital and not income and no tax would be due anyway. This is the routine practice for those who are Thai tax payers but also have other sources of income offshore.

who brings in any income (incl pensions) in the same year that it was earned could be subject to Thai tax

the bad news is that the passus "same year as earned" has been deleted from all official Thai government publications!

[oldthaihand99]

I have heard of the UK authorities suggesting this to pensioners here, however, I'm not up for getting involved in this fight.

It has always been the position of the UK gov that you must be tax compliant in your domicile, and be able to prove that you were when you returned to the UK, if asked. I was asked twenty years ago to prove I was compliant and I was - nothing to do with pensions, though, I was only twenty-eight.

To me it's one of those technicalities - and until either or both of the nations involved start to enforce the policy, the OP is just flying a kite.

Maybe he likes worrying about things.

I think it's wise to be aware of the laws of the country one is living in or planning to live in, rather than being in denial about them or bury ones head in the sand. Knowledge & knowing the truth is power than enables one to make intelligent decisions & avoid many potential problems and disaster.

I'm not omniscient so cannot say whether or not there are cases in Thailand of tax evaders re pension income (or other foreign sourced income) having been caught & successfully prosecuted. Or cases where the tax evader got off the hook by "greasing the wheel". But i have read that the penalties in LOS for tax evasion are quite harsh.

Additionally, as regards general "enforce(ment)" of the "policy", i'm not sure that waiting for that to occur is the best course of action. By then it may be too late. Too late, for example, to save ones 800K in a Thai bank. Moreover, BTW, there are the precedents of past history in Siam for such an occurence.

Considering (1) dual taxation treaties between Siam & certain other nations & (2) the low rates of income tax in the Kingdom, i suggest that probably the vast majority of those bringing pension (or other foreign sourced) income into the country would not be owing any more tax to Siam than they'd pay to their original home countries. I wonder if under some nations laws some people might even pay less tax on their inome if they were to become "tax residents" in Thaksinland.

However, in my case, i would owe a hell of a lot more income tax (on my foreign sourced income) to Thailand, under present Thai tax rates, than i now pay to my home country in the Western world. Furthermore, there is the related issue that if i became a "tax resident" of Thailand, then i would be subject to tax issues in my home country. For example, "withholding tax", which involves, amongst other things, a 25% payment on certain income.

http://en.wikipedia.org/wiki/Withholding_tax

Bottom line, as it concerns my situation, i would like to live in LOS 10 or 12 months a year, but i consider the risks related to income tax as sufficient motivation to cause me to make other plans. I see no desperate need to needlessly take that risk. There are other countries in SEA & the world to explore, experience & enjoy retirement.

Others may feel stronger ties to the Kingdom and/or differently about the risks, & i respect that. To each his own & best of luck.

As it stands i plan to live in the country less than 50% of each year, or up to about 180 days annually, which makes me a non resident as regards Thai income tax law.

What has recently brought me back to reconsider this topic is concerns re recent changes in immigration practice & or policy. If regular long visits to LOS via tourist visas become more difficult or impossible, then i might have no way to spend time in the country, except to consider alternates like an education visa, work visa, retirement or, god forbid, marriage.

My apologies if there are any who don't like to think about this subject & or are upset by it. It's certainly not my intention. Feel free to move on to more comedic threads that will make you happy & ROTFLOL.

Edited June 30, 2014 by oldthaihand99

[Naam]

Nobody has to pay taxes living in Thailand on there pension

Expats leaving eu, also not must pay taxes on there homecountry!

Someone told me , if you realy chancel everything in the eu , have no home adress or house you only allowed stay one week in your home country if you stay longer you got taxed again!

The rest about Thailand tax other pension is since fiction !

someone told you not only science fiction but complete rubbish Sandman. people like you who have no idea shouldn't come up with silly assumptions and spread them in a forum where other people are asking for correct information and advice which might be very important for them. kapiert?

note:

-if you hold shares of a corporation located in the EU you pay tax on the dividends,

-if you rent out immobile property in the EU you pay tax on the net rental income,

-if you get a pension or social insurance payments from an EU country and do not live in a country who's relevant double tax agreement does not specifically exclude these payments you pay tax.

there are a dozen or more other possibilities where an EU citizen is liable to pay income or witholding tax.

[wordchild]

I think you are right,(oldthaihand99) by a strict interpretation of the rules anyone who resides in Thailand for more than the 180 days and who brings in any income (incl pensions) in the same year that it was earned could be subject to Thai tax. One would need to check the relevant taxation treaty between Thailand and the country that was the source of the income to see if it was covered by any double taxation treaty, if not, there is a risk of it being subject to further tax in Thailand. The treaty between the UK and Thailand , for example, does not cover pensions, so there is a theoretical risk of double taxation on pensions from there. I have never heard of anyone having an issue with this and if you have no other income in Thailand ,and no need to declare anything else , then you are off their radar anyway. In my opinion it's a theoretical concern rather than a real one. To be completely safe what one needs to do is to hold the income offshore until the 1st jan of the year after you earned the income , bringing it in after that date means that it is classed as capital and not income and no tax would be due anyway. This is the routine practice for those who are Thai tax payers but also have other sources of income offshore.

who brings in any income (incl pensions) in the same year that it was earned could be subject to Thai tax

the bad news is that the passus "same year as earned" has been deleted from all official Thai government publications!

[/quote

Yes i saw someone mention this before on TV (it may have been you). i checked this fairly recently with one of the large Thai accountancy firms and was told told that there had been no change regarding the definition of income from overseas; ie if it is brought into country in the same year as earned then it is potentially taxable income, if it is brought in the following year or later then it is considered capital and so not taxed. That is what they said anyway.

Edited July 1, 2014 by wordchild

[lopburi3]

Actually all money would be taxed by law but the tax policy is that only money brought into Thailand during the current tax year is subject to income tax here (so most people bring in savings).

Second is tax treaty which many countries have with Thailand and this normally provides for foreign tax on foreign pensions.

Third there is no active search for anyone and even those bringing money directly into country are not being asked to pay tax on pension.

Could things change? For sure, nothing is for sure.

[Naam]

wordchild

Yes i saw someone mention this before on TV (it may have been you). i checked this fairly recently with one of the large Thai accountancy firms and was told told that there had been no change regarding the definition of income from overseas; ie if it is brought into country in the same year as earned then it is potentially taxable income, if it is brought in the following year or later then it is considered capital and so not taxed. That is what they said anyway.

i received the same information but i'd like to see it (as before) in an official government publication.

[Pattszero]

I have heard of the UK authorities suggesting this to pensioners here, however, I'm not up for getting involved in this fight.

It has always been the position of the UK gov that you must be tax compliant in your domicile, and be able to prove that you were when you returned to the UK, if asked. I was asked twenty years ago to prove I was compliant and I was - nothing to do with pensions, though, I was only twenty-eight.

To me it's one of those technicalities - and until either or both of the nations involved start to enforce the policy, the OP is just flying a kite.

Maybe he likes worrying about things.

I think it's wise to be aware of the laws of the country one is living in or planning to live in, rather than being in denial about them or bury ones head in the sand. Knowledge & knowing the truth is power than enables one to make intelligent decisions & avoid many potential problems and disaster.

I'm not omniscient so cannot say whether or not there are cases in Thailand of tax evaders re pension income (or other foreign sourced income) having been caught & successfully prosecuted. Or cases where the tax evader got off the hook by "greasing the wheel". But i have read that the penalties in LOS for tax evasion are quite harsh.

Additionally, as regards general "enforce(ment)" of the "policy", i'm not sure that waiting for that to occur is the best course of action. By then it may be too late. Too late, for example, to save ones 800K in a Thai bank. Moreover, BTW, there are the precedents of past history in Siam for such an occurence.

Considering (1) dual taxation treaties between Siam & certain other nations & (2) the low rates of income tax in the Kingdom, i suggest that probably the vast majority of those bringing pension (or other foreign sourced) income into the country would not be owing any more tax to Siam than they'd pay to their original home countries. I wonder if under some nations laws some people might even pay less tax on their inome if they were to become "tax residents" in Thaksinland.

However, in my case, i would owe a hell of a lot more income tax (on my foreign sourced income) to Thailand, under present Thai tax rates, than i now pay to my home country in the Western world. Furthermore, there is the related issue that if i became a "tax resident" of Thailand, then i would be subject to tax issues in my home country. For example, "withholding tax", which involves, amongst other things, a 25% payment on certain income.

http://en.wikipedia.org/wiki/Withholding_tax

Bottom line, as it concerns my situation, i would like to live in LOS 10 or 12 months a year, but i consider the risks related to income tax as sufficient motivation to cause me to make other plans. I see no desperate need to needlessly take that risk. There are other countries in SEA & the world to explore, experience & enjoy retirement.

Others may feel stronger ties to the Kingdom and/or differently about the risks, & i respect that. To each his own & best of luck.

As it stands i plan to live in the country less than 50% of each year, or up to about 180 days annually, which makes me a non resident as regards Thai income tax law.

What has recently brought me back to reconsider this topic is concerns re recent changes in immigration practice & or policy. If regular long visits to LOS via tourist visas become more difficult or impossible, then i might have no way to spend time in the country, except to consider alternates like an education visa, work visa, retirement or, god forbid, marriage.

My apologies if there are any who don't like to think about this subject & or are upset by it. It's certainly not my intention. Feel free to move on to more comedic threads that will make you happy & ROTFLOL.

As I said - you are flying a kite.

If you are so worried about it - go visit the Thai tax authorities and do a full declaration.

Then come back here and post your results.

If you can't be bothered doing that then don't bother us with your inane paranoia.

[thailiketoo]

I have heard of the UK authorities suggesting this to pensioners here, however, I'm not up for getting involved in this fight.

It has always been the position of the UK gov that you must be tax compliant in your domicile, and be able to prove that you were when you returned to the UK, if asked. I was asked twenty years ago to prove I was compliant and I was - nothing to do with pensions, though, I was only twenty-eight.

To me it's one of those technicalities - and until either or both of the nations involved start to enforce the policy, the OP is just flying a kite.

Maybe he likes worrying about things.

I think it's wise to be aware of the laws of the country one is living in or planning to live in, rather than being in denial about them or bury ones head in the sand. Knowledge & knowing the truth is power than enables one to make intelligent decisions & avoid many potential problems and disaster.

I'm not omniscient so cannot say whether or not there are cases in Thailand of tax evaders re pension income (or other foreign sourced income) having been caught & successfully prosecuted. Or cases where the tax evader got off the hook by "greasing the wheel". But i have read that the penalties in LOS for tax evasion are quite harsh.

Additionally, as regards general "enforce(ment)" of the "policy", i'm not sure that waiting for that to occur is the best course of action. By then it may be too late. Too late, for example, to save ones 800K in a Thai bank. Moreover, BTW, there are the precedents of past history in Siam for such an occurence.

Considering (1) dual taxation treaties between Siam & certain other nations & (2) the low rates of income tax in the Kingdom, i suggest that probably the vast majority of those bringing pension (or other foreign sourced) income into the country would not be owing any more tax to Siam than they'd pay to their original home countries. I wonder if under some nations laws some people might even pay less tax on their inome if they were to become "tax residents" in Thaksinland.

However, in my case, i would owe a hell of a lot more income tax (on my foreign sourced income) to Thailand, under present Thai tax rates, than i now pay to my home country in the Western world. Furthermore, there is the related issue that if i became a "tax resident" of Thailand, then i would be subject to tax issues in my home country. For example, "withholding tax", which involves, amongst other things, a 25% payment on certain income.

http://en.wikipedia.org/wiki/Withholding_tax

Bottom line, as it concerns my situation, i would like to live in LOS 10 or 12 months a year, but i consider the risks related to income tax as sufficient motivation to cause me to make other plans. I see no desperate need to needlessly take that risk. There are other countries in SEA & the world to explore, experience & enjoy retirement.

Others may feel stronger ties to the Kingdom and/or differently about the risks, & i respect that. To each his own & best of luck.

As it stands i plan to live in the country less than 50% of each year, or up to about 180 days annually, which makes me a non resident as regards Thai income tax law.

What has recently brought me back to reconsider this topic is concerns re recent changes in immigration practice & or policy. If regular long visits to LOS via tourist visas become more difficult or impossible, then i might have no way to spend time in the country, except to consider alternates like an education visa, work visa, retirement or, god forbid, marriage.

My apologies if there are any who don't like to think about this subject & or are upset by it. It's certainly not my intention. Feel free to move on to more comedic threads that will make you happy & ROTFLOL.

As I said - you are flying a kite.

If you are so worried about it - go visit the Thai tax authorities and do a full declaration.

Then come back here and post your results.

If you can't be bothered doing that then don't bother us with your inane paranoia.

Dollars to donuts the OP does not live in Thailand (I think he lives or vacations in Vietnam). Which begs the question why would he be posting about this same topic for 2 years in a variety of different threads on Thai Visa? Hope you don't mind me asking. I'm just curious. Of course anyone from anywhere can post anything I only wondering what the motivation would be.

[BKKSnowBird]

Do you not need a tax clearance certificate to get your visa renewal?

If the no tax on saving is correct, I am guessing you need 2 accounts? I mean one account you take draws from and let those pension payments go into another account. Replenish the account once a year.

[thailiketoo]

Do you not need a tax clearance certificate to get your visa renewal?

If the no tax on saving is correct, I am guessing you need 2 accounts? I mean one account you take draws from and let those pension payments go into another account. Replenish the account once a year.

No (Retirement extension). Tax is automatically deducted from fixed asset accounts (at least mine is).

Edited July 1, 2014 by thailiketoo

[BKKSnowBird]

I mean 2 accounts in your home country.

One account you use for savings and take withdraws from when you are in Thailand.

A second account to collect your pension payments. Use that account to replace the savings account every year.

[thailiketoo]

I mean 2 accounts in your home country.

One account you use for savings and take withdraws from when you are in Thailand.

A second account to collect your pension payments. Use that account to replace the savings account every year.

Why Bangkok Bank accepts SS deposits to a direct deposit Thai account. If there was any tax the bank would tell you and deduct it. I know I open and close accounts 10 times a year.

Edited July 1, 2014 by thailiketoo

[BKKSnowBird]

My SS will go into my US account.

It sounds like if you live off savings than no Thai tax, but if you live off SS than you must pay tax.

Hence my 2 account question which would allow me to live off savings. It is a serious question and not trying to be difficult. I am asking as I plan to move back to Thailand.

Thanks for help.

[thailiketoo]

My SS will go into my US account.

It sounds like if you live off savings than no Thai tax, but if you live off SS than you must pay tax.

Hence my 2 account question which would allow me to live off savings. It is a serious question and not trying to be difficult. I am asking as I plan to move back to Thailand.

Thanks for help.

No, there is no Thai tax on American Social Security direct deposited from SS to Bangkok Bank. Who told you there was?

Edited July 1, 2014 by thailiketoo

[BKKSnowBird]

I thought that is what this thread was about. You would need to file a Thai tax return if you are living off a pension like SS but not if just using your savings?

[thailiketoo]

I thought that is what this thread was about. You would need to file a Thai tax return if you are living off a pension like SS but not if just using your savings?

The OP is trying to start a rumor that tax is due on pensions which he has been doing for two years in various threads always with the same result. No one has ever heard of anyone charged tax on a pension. I don't know why he does it. I asked a few times. I don't think the OP lives in Thailand and I can't see his interest in spreading rumors?

Anyone can post anything I guess. It doesn't have to be true. Normally Thai Visa is a good source of information. Ask anyone if anyone has ever heard of a Farang paying tax on a pension in Thailand.

Actually you are a good example of the the "tell a lie enough times" strategy. If he starts enough threads with the false information that Thailand taxes pensions someone like you might believe it and change his plans to retire to Thailand.

Edited July 1, 2014 by thailiketoo

[BKKSnowBird]

Thanks and that is good to know. I will already be paying tax in the US depending on my other income and how much I take out of an IRA. I plan to just leave everything in the US and withdraw cash as needed. My bank refunds my withdraw fees so it cost me nothing.

Edited July 1, 2014 by BKKSnowBird

[oldthaihand99]

Actually all money would be taxed by law but the tax policy is that only money brought into Thailand during the current tax year is subject to income tax here (so most people bring in savings).

Second is tax treaty which many countries have with Thailand and this normally provides for foreign tax on foreign pensions.

Third there is no active search for anyone and even those bringing money directly into country are not being asked to pay tax on pension.

Could things change? For sure, nothing is for sure.

re para 1.] savings income (e.g. 800 K from abroad) is income & therefore may be subject to taxation in LOS.

para 2.] most countries on the ball do not have a tax treaty with siam...neither would one save me from being exempt from things like expat (non tax resident) "withholding tax" from the original home nation.

para 3a.] as i'm not omniscient, this is unknown...

para 3b.] resident farangs are required to file & declare all income [e.g. pensions] on their thai tax return...how many expat farang pensioners in siam are doing so or paying tax on their foreign income is unknown and practicly unknowable...though thai lawyers & accountants may have some clues on the topic...They typicly say that farangs living in LOS must file a Thai tax return & declare all worldwide income on it, including pensions.

One could always go to the Thai tax people & ask them. The last time i challenged someone to do so, i never heard back from him. He was quite confident that foreign pensions are not taxed in LOS. So i encouraged him to go to the tax office & ask them. He probably never went since he had never filed a return & was scared to death he'd be in deep doggy doo if he did.

No one else took up my challenge, either, apparently. It's a pity, as that might have been a useful tiny piece of info to fit in the puzzle, in the name of calm objective scientific research.

I hope one day the Bangkok Post (or the like) will thoroughly research this subject & do a series of articles on the topic.