US and Thailand Tax Treaty

[DDD]

In the US Tax Treaty with Thailand, US citizens that reside in Thailand 6+ months can have their Pensions taxed in Thailand. Pensions include company pensions, 401K, IRA, etc.

What are peoples experiences claiming this on their US taxes?
What are the tax requirements in Thailand if we have no income from Thailand? Do we need to file Thailand taxes or is our “earned in Thailand income” low enough to not even file?

[Hahuahin]

https://www.rd.go.th/english/6045.html

https://sherrings.com/personal-income-t ... iland.html

[migrant]

A US citizen is taxed on worldwide income. If you pay taxes to a foreign country then those taxes can be taken as a credit against US taxes.

[thecolonel]

A US citizen is taxed on worldwide income. If you pay taxes to a foreign country then those taxes can be taken as a credit against US taxes.

I've not clicked the links above but I believe UK is same as US in that regard(taxed on worldwide income)



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[thecolonel]

In the US Tax Treaty with Thailand, US citizens that reside in Thailand 6+ months can have their Pensions taxed in Thailand. Pensions include company pensions, 401K, IRA, etc.

What are peoples experiences claiming this on their US taxes?
What are the tax requirements in Thailand if we have no income from Thailand? Do we need to file Thailand taxes or is our “earned in Thailand income” low enough to not even file?

Is that 6+ months ever or 6+months per 12 month tax year?

And anyone know what is case for the UK?

Sorry for appearing clueless on this point but I'm only a baby and over 6 years( at least!) from claiming State Pension.

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[DDD]

Key definitions for income taxes paid to Thailand;
- “Resident” = 180+ days in Thailand during tax year
- “assessable income” = income brought into Thailand is taxable. Like a pension deposited into a Thai banking account.
- US Social Security is only taxable in the US according to the tax treaty (can have this deposited into Thai bank without paying Thai tax on it if needed for a retirement visa)

Tax paid to US (what I did, according to my best guess);
- Show all income from all countries worldwide
- Credit back amount for Pensions (as a negative amount) and add a note that you are following the US/Thai Tax Treaty (in Schedule 1, Other Income)
- I’m never sure if the IRS is OK with it or just didn’t pick up on it. Will wait and see if they say anything

[brianks]

Does it save on overall taxes in US vs Thailand to do this?
Getting complicated for me unless I save some $ in US taxes over Thailand tax.

[DDD]

Government Pensions are not excluded from US tax under the US/Thai tax treaty

[DDD]

A saving hinges on the definition of “assessable income.” This is the simple layer of the tax treaty (can see on IRS website by searching on “treaty”) they also have a more detailed document that clarifies things. It gets more complicated from there.

[Dannie Boy]

In the US Tax Treaty with Thailand, US citizens that reside in Thailand 6+ months can have their Pensions taxed in Thailand. Pensions include company pensions, 401K, IRA, etc.

What are peoples experiences claiming this on their US taxes?
What are the tax requirements in Thailand if we have no income from Thailand? Do we need to file Thailand taxes or is our “earned in Thailand income” low enough to not even file?

Is that 6+ months ever or 6+months per 12 month tax year?

And anyone know what is case for the UK?

Sorry for appearing clueless on this point but I'm only a baby and over 6 years( at least!) from claiming State Pension.

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All I can tell you is that my UK personal and state pension are taxed at source