Tax payment in Thailand

[Epsacori]

Hi everybody,

It seems that the taxation of world wide income for expats is becomming polular ....

I wonder whether expats in Thailand are reliable for the payment of taxes to the local tax authorities in Thailand regarding their income and wealth overseas?

Best,

Gerd

[meatboy]

only income earned in thailand EG.bank savings interest @ 15% on the first 150,000bht earned. or income through WORK.

Edited October 2, 2015 by meatboy

[Soutpeel]

Lets give the legal stand point, which for the most part is not enforced in Thailand....if your in Thailand for more than 180 days a year you are resident for tax purposes. .thats the high level general answer..so if you are here more than 180 days p.a. COULD you be liable for tax...the general answer is yes at present the Tax man is not really bothered unless you work here; but one day that could change as the provision is already in the tax law

[camerata]

As Soutpeel says, if in Thailand more than 180 days of the year (i.e. "resident for tax purposes") you are liable to pay tax on "income" inside Thailand and remitted to Thailand from outside the country. But it seems the revenue Dept doesn't care about chasing up retirees for tax on their pensions, and in any case there are some special provisions for certain types of pensions from certain countries. It's important to note that overseas "income" is defined as money remitted to Thailand in the same year as it was received. Anything else is considered to be "savings" and not subject to taxation. So you could pay your pension into an overseas bank account and just transfer it to Thailand on January 1st the following year. Obviously you'd need to document this very carefully if you ever have to explain it to the Thai tax man.