40k/mo Family Income - For Extension

[teacup]

I don't have any bank account in thailand at the moment and don't feel the need to move that much money into thailand, only just enough to live on.

Thanks in advance

Edited May 6, 2009 by Mario2008

[Sunbelt Asia]

Can our saving together in the US be use as income for the extension?, if not then

yes.. the interest income that is

Can the interest income from this joint saving acct be used for family income?....Gross or net amount?

Gross amt.

www.sunbeltasiagroup.com

[teacup]

Thanks Sunbelt

one more question.....Do I, as a thai national, or we both, have to pay thai tax on this interest income since our new permanent address will now be in Thailand?

[Sunbelt Asia]

Thanks Sunbelt

one more question.....Do I, as a thai national, or we both, have to pay thai tax on this interest income since our new permanent address will now be in Thailand?

Taxable Person

Taxpayers are classified into "resident" and "non-resident". "Resident" means any person residing in Thailand for a period or periods aggregating more than 180 days in any tax (calendar) year. A resident of Thailand is liable to pay tax on income from sources in Thailand on a cash basis, regardless where the money is paid, as well as on the portion of income from foreign sources that is brought into Thailand. A non-resident is, however, subject to tax only on income from sources in Thailand.

Interest

Interest income may, at the taxpayer's selection, be excluded from the computation of PIT provided that a tax of 15 per cent is withheld at source. However, the following forms of individual's interest income are exempt from 15 per cent withholding tax;

(1) interest on bonds or debentures issued by a government organization,

(2) interest on saving deposits in commercial banks if the aggregate amount of interest received is not more than 20,000 Baht during a taxable year,

(3) interest on loans paid by a finance company,

(4) interest received from any financial institutions organized by a specific law of Thailand for the purpose of lending money to promote agriculture, commerce or industry.

Double Taxation Treaty between Thailand and the USA

http://www.rd.go.th/publish/fileadmin/down...n/america_e.pdf

www.sunbeltasiagroup.com