Foreign income brought into Thailand

[overherebc]

I've trying to work out what benefits I'm getting after paying tax in Thailand on contracts that didn't last long enough to allow me to apply for residency, I imagine I've paid a lot over the past good few years.

Give me few days and I might think of something.

Edited January 11, 2017 by ubonjoe
removed quote of a removed post

[Lovethailandelite]

24 minutes ago, overherebc said:

 

I've trying to work out what benefits I'm getting after paying tax in Thailand on contracts that didn't last long enough to allow me to apply for residency, I imagine I've paid a lot over the past good few years.

Give me few days and I might think of something.

Ermmm.....another Tax demand?

[overherebc]

3 minutes ago, Lovethailandelite said:

Ermmm.....another Tax demand?

 

Get those from UK already.

????

[OJAS]

5 hours ago, Lovethailandelite said:

If your from the UK, then income derived in the UK the tax still needs to be paid there. Of course, I am pretty sure the Thai government would take any tax off of you that you offer them but it doesn't cancel your obligation to pay UK Taxes. You would in effect be paying a double whammy.

 

There is a double taxation agreement in force between the UK and Thailand aimed at ensuring that tax does not have to be paid again in Thailand on income derived and already taxed in the UK.

 

Those posters who have asked whether income which they have brought into Thailand needs to be taxed here may wish to check whether it has already been taxed in the country of origin and is covered by a similar double taxation agreement.

 

 

5 hours ago, wgdanson said:

does this mean that I SHOULD pay tax on my UK State Pension income, which I must have to get retirement extension?

 

You will only need to pay tax on your State Pension to the jolly old taxman in HMRC back home (and under no circumstances to his Thai counterpart) if it causes your total UK-derived income in a particular tax year to exceed the corresponding personal tax-free allowance (£11,000 for the present tax year ending on 5 April).

Edited January 11, 2017 by OJAS

[12DrinkMore]

2 hours ago, MANFROMBOCA said:

as always i do this but this year i was told (yesterday) that they will no lomger fill out the form for you they gave me a photostat of form and told me to find a thai and fill it out and return it.... i will of course wait until next week and try again it may have been the clerk,, in the past years i found them extremely helpful in filing out he forms and getting mey savings tax refund

 

Just got back from doing mine.

 

As usual very helpful and efficient, filled out the form for me, and with a smile.

[12DrinkMore]

1 hour ago, overherebc said:

I've trying to work out what benefits I'm getting after paying tax in Thailand on contracts that didn't last long enough to allow me to apply for residency, I imagine I've paid a lot over the past good few years.

Give me few days and I might think of something.

 

Infrastructure, government, law and order, hospitals.

 

I realise that there will be a few sceptics deriding this list, but on the whole I reckon that most foreigners get an excellent deal out of what tax they pay. Most only pay VAT on goods and services.

 

Basically the country runs quite well, steady economic growth, mostly smiles and friendly people and compared to Europe a solid banking system.

[Surasak]

Thanks for the Info. BearBoxer and 12DrinkMore,. Most helpful.

[Fookhaht]

Not sure but I  think the form has to be completed in Thai or they will not accept it.

Well let me give it a shot in English this year, and I'll report back.


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[darrendsd]

I really am struggling as to why the OP has decided to do this? I have been here full time for 11 years, each and every penny I have spent here has come from my account in the UK to my Bangkok Bank account here and I have never been asked to pay tax or apply for a tax ID and I don't know anyone who transfers their money from their home account who has

 

Baffling as to what the OP is trying to achieve 

[tgeezer]

I do. It was worth more in Bangkok Bank than in Barclays so I opened a fixed deposit here to fulfill the800,000 requirement.


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[darrendsd]

4 minutes ago, tgeezer said:

I do. It was worth more in Bangkok Bank than in Barclays so I opened a fixed deposit here to fulfill the800,000 requirement.


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Fair enough but the OP hasn't said that this is his purpose of wanting a tax ID, he just seems to think it's something you need to do after being here for over 180 days

[tgeezer]

I only noticed your statement, posted because I have heard of strange relationships between some of us and banks. Some even claim that we can't open accounts! The bank pays the tax, not the account holders concern unless they can claim a refund, you would need a tax number for that.


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[localczar]

clearly you are not thinking clearly. Income brought into thailand, by a foreigner from a foreign source IS NOT TAXABLE....and why would it be?? Capital gains on that income is a different story.

 

i have had my foriegn source employment income wired to my thai account for more than 10 years, there has never been a tax obligation imposed on me. 

 

Another case, folks on retirement visas claim their pension income as required for their visa, NO tax obligation. 

 

Be careful how much info you dole out! Don't make problems for yourself where there are none!

[Felt 35]

6 hours ago, 12DrinkMore said:

 

Infrastructure, government, law and order, hospitals.

 

I realise that there will be a few sceptics deriding this list, but on the whole I reckon that most foreigners get an excellent deal out of what tax they pay. Most only pay VAT on goods and services.

 

Basically the country runs quite well, steady economic growth, mostly smiles and friendly people and compared to Europe a solid banking system.

 

I have ben a taxpayer here since the last tax agreement come into force with Thailand and home country some 6-7 years ago and when I don't complain about seeing enough smiles and friendly people around, I cant say I see benefit from the infrastructure or rather lack of it, government policies, law and order which is there mostly for the elite,New year and Songkran or hospitals which not touch me unless prepaid 

Edited January 11, 2017 by Felt 35

[eisfeld]

18 minutes ago, localczar said:

clearly you are not thinking clearly. Income brought into thailand, by a foreigner from a foreign source IS NOT TAXABLE....and why would it be?? Capital gains on that income is a different story.

 

i have had my foriegn source employment income wired to my thai account for more than 10 years, there has never been a tax obligation imposed on me. 

 

Clearly you have no idea about the tax laws in Thailand and have possibly been evading tax in Thailand for more than a decade. Unless you have been very careful, you should hope they never look into your finances.

 

Income by a foreigner (but tax resident, the law doesn't distinguish between Thai or foreigner) remitted into Thailand from a foreign source in the general case IS TAXABLE. There are exceptions and different rates. Start by reading this: http://www.rd.go.th/publish/6045.0.html

 

Quote

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 as well as on the portion of income from foreign sources that is brought into Thailand.

 

[localczar]

18 minutes ago, eisfeld said:

 

Clearly you have no idea about the tax laws in Thailand and have possibly been evading tax in Thailand for more than a decade. Unless you have been very careful, you should hope they never look into your finances.

 

Income by a foreigner (but tax resident, the law doesn't distinguish between Thai or foreigner) remitted into Thailand from a foreign source in the general case IS TAXABLE. There are exceptions and different rates. Start by reading this: http://www.rd.go.th/publish/6045.0.html

 

 

i think you are full of bovine scatology or have some hidden agenda....

 

I have never been taxed on my foreign income here...why would i be now....cause you say so??

 

My bank account and foreign pension for retirement visa is not taxed...never has been. I should pay tax on this when tax has already been paid in the source country?

 

Prostitution is illegal in TH, but...its okay....tax evasion by foreigners working OUTSIDE of thailand, on retirement visa's, ....who is paying thai income tax??? I hear of NO prosecution of foreign tax evaders and NEITHER have you!

 

You pay income tax in Thailand...if you do ...thats your problem.

 

You make no sense dude!

Edited January 11, 2017 by localczar
nice

[eisfeld]

13 minutes ago, localczar said:

i think you are full of bovine scatology or have some hidden agenda....

 

I have never been taxed on my foreign income here...why would i be now....cause you say so??

 

My bank account and foreign pension for retirement visa is not taxed...never has been. I should pay tax on this when tax has already been paid in the source country?

 

Prostitution is illegal in TH, but...its okay....tax evasion by foreigners working OUTSIDE of thailand, on retirement visa's, ....who is paying thai income tax??? I hear of NO prosecution of foreign tax evaders and NEITHER have you!

 

You pay income tax in Thailand...if you do ...thats your problem.

 

You make no sense dude!

 

I'm just pointing out the falsehoods in your post so other readers don't get misled. Of course your bank account doesn't get taxed, that wouldn't make sense. Not sure why you make these weird statements. Regarding the paying of tax on income that has already been taxed in the source country: well that again depends on the type of income and if Thailand has a double taxation agreement with that country. You mention your pension. Fine, but you made a blanket statement concerning any and all income from foreign sources, not just pensions.

 

Sorry but I think I make a lot of sense. I'm just more precise and correct than you. By a big margin too.

[localczar]

47 minutes ago, eisfeld said:

 

I'm just pointing out the falsehoods in your post so other readers don't get misled. Of course your bank account doesn't get taxed, that wouldn't make sense. Not sure why you make these weird statements. Regarding the paying of tax on income that has already been taxed in the source country: well that again depends on the type of income and if Thailand has a double taxation agreement with that country. You mention your pension. Fine, but you made a blanket statement concerning any and all income from foreign sources, not just pensions.

 

Sorry but I think I make a lot of sense. I'm just more precise and correct than you. By a big margin too.

nothing makes sense in Thailand, and you should know that.

Ask 1,000 or a 100,000 foreigners living in Thailand if they pay thai income tax....you already know the answer, or should know! Even the thai tax base is almost non existant! Farangs on WP's and those with property held by Thai companies pay tax...

case closed...for now.

 

Edited January 11, 2017 by localczar
yr code

[Maestro]

 

The text on the web page to which you have linked and from which you have quoted is not Thailand's tax law. It is part of a guide regarding the tax law and it does not give the full picture. For the correct and full picture you would have to read the law itself, in its original Thai version.

At any rate, what matters in the end is how the Thai revenue department applies the tax law and regarding taxable income it includes the following:

1. For income earned in Thailand, the income earned during the tax year.

2. For income earned outside Thailand, the part of the income earned during the tax year which is brought into Thailand during the tax year.

In other words, the text you quoted is correct if one bears in mind that it applies to the 12 month period of the tax year, which is the calendar year. Go to a knowledgeable tax accountant or law firm for confirmation of this.


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[tgeezer]

From what I have read the need to report every 90 days, the Status of visitors to the country, albeit for extended periods, is not considered residency. "Me tin tee U" is residency as far as I can tell, the term "pampak" is used for visitors.
This is my impression, I haven't addressed this point specifically from reading the Immigration Act of 1989.


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[LivinLOS]

8 hours ago, localczar said:

clearly you are not thinking clearly. Income brought into thailand, by a foreigner from a foreign source IS NOT TAXABLE....and why would it be?? Capital gains on that income is a different story.

 

i have had my foriegn source employment income wired to my thai account for more than 10 years, there has never been a tax obligation imposed on me. 

 

Another case, folks on retirement visas claim their pension income as required for their visa, NO tax obligation. 

 

Be careful how much info you dole out! Don't make problems for yourself where there are none!

 

Have you researched this even a little ??

 

If the money is remitted to Thailand in the year it is earnt, then yes 100% it is taxable. 

 

 

[LivinLOS]

7 hours ago, localczar said:

i think you are full of bovine scatology or have some hidden agenda....

 

I have never been taxed on my foreign income here...why would i be now....cause you say so??

 

My bank account and foreign pension for retirement visa is not taxed...never has been. I should pay tax on this when tax has already been paid in the source country?

 

Prostitution is illegal in TH, but...its okay....tax evasion by foreigners working OUTSIDE of thailand, on retirement visa's, ....who is paying thai income tax??? I hear of NO prosecution of foreign tax evaders and NEITHER have you!

 

You pay income tax in Thailand...if you do ...thats your problem.

 

You make no sense dude!

 

 

Clearly you dont know what your talking about.. I dont understand why people post things, with such conviction, when they are so ignorant to the facts. 

 

As others have said.. here more than 183 days in a year, money remitted to Thailand in the year it is earnt, is in general taxable and legally needs to be declared. 

 

 

[localczar]

2 hours ago, LivinLOS said:

 

 

Clearly you dont know what your talking about.. I dont understand why people post things, with such conviction, when they are so ignorant to the facts. 

 

As others have said.. here more than 183 days in a year, money remitted to Thailand in the year it is earnt, is in general taxable and legally needs to be declared. 

 

 

yeah ok, there are laws, standards, rules, etc in TH....but are rarely enforced, so the tax law is meaningless and is not worth the paper its written on.

[LivinLOS]

OK so to be clear... Your now realizing you were wrong.. That the law is entirely clear and the taxes are of course due. And your initial posts were 100% the opposite of the correct legal situation ?? 

 

Your just saying because you can break those laws without being caught, that Thai income tax is 'meaningless' ??

 

Is that an accurate summary of your current position.

[chiang mai]

23 hours ago, Lovethailandelite said:

If your from the UK, then income derived in the UK the tax still needs to be paid there. Of course, I am pretty sure the Thai government would take any tax off of you that you offer them but it doesn't cancel your obligation to pay UK Taxes. You would in effect be paying a double whammy.

 

A double taxation agreement exists between the two countries.

[rockingrobin]

10 minutes ago, localczar said:

yeah ok, there are laws, standards, rules, etc in TH....but are rarely enforced, so the tax law is meaningless and is not worth the paper its written on.

It would surely depend upon any double taxation agreements in operation

Edited January 12, 2017 by rockingrobin

[chiang mai]

2 hours ago, LivinLOS said:

 

Have you researched this even a little ??

 

If the money is remitted to Thailand in the year it is earnt, then yes 100% it is taxable. 

 

 

 

This is one that's come back and bite a number of people in the future, particularly those who have their pension payments remitted to their Thai bank account every month. Just because the law is not being enforced doesn't mean that it wont be in the future, it's a bit like the TM30 debacle, the law was never enforced for years and then all of a sudden people started to get fined for not abiding by it.

[chiang mai]

And to be clear: the Thai Revenue Service will only issue a Thai Tax ID if you can show you spend more than 183 days here each year.

[The Old Bull]

I wise man once said " the least pieces of paper the government has your name on the better" . I believe this to be true.

[LivinLOS]

29 minutes ago, chiang mai said:

And to be clear: the Thai Revenue Service will only issue a Thai Tax ID if you can show you spend more than 183 days here each year.

Cant you walk in and claim to have thai sourced income ?? 

 

Eg I am going to rent my property.. I need a tax number.. 

 

Does that not get you one on day 1 ??