Income Tax on money brought into Thailand for personal use
Income Tax on money brought into Thailand for personal use
I have retired to Thailand. I understand that anybody who spends more than 180 days in a calendar year in Thailand is legally considered to be a “tax resident”. I have no businesses in Thailand thus I do not earn any money in Thailand. I understand however that a “portion” of all money I bring into Thailand for personal use is “taxable”. Does anyone know what the limits and tax rates are? Has anyone been caught by the tax authorities for not paying? Any other information relating to this subject would also be appreciated.
- Dannie Boy
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Re: Income Tax on money brought into Thailand for personal u
I'm hoping you're wrong as I like I'm sure many are in the same boat, but don't consider that transferring money counts as income and therefor not taxable here.
Re: Income Tax on money brought into Thailand for personal u
There was an old rule along those lines and it had some requirement that money brought in had to be from current year "income" if it was to be taxed. How they'd prove that I don't know unless you were being paid direct from an employer to Thailand. Never heard of anyone being pulled up on it when transferring their own money.
Re: Income Tax on money brought into Thailand for personal u
Thailand is in a double taxation agreement with most countries (certainly in Europe). Therefore if your money from your country is 'tax paid' then you don't pay again. If you choose to pay tax here then you would inform your own country and you wouldn't pay tax there. Proof, of course, would be needed.
Re: Income Tax on money brought into Thailand for personal u
The rule, over 25 odd years ago, was that if you had been in the country more than 180 days your were required to obtain a "tax clearance" certificate before you could leave.There was an old rule along those lines .............
I do recall being stopped because of it on one occasion, but I believe the law has since been recinded. This was before the days of VAT, and it may have been recinded when that tax was introduced.
May you be in heaven half an hour before the devil know`s you`re dead!
Re: Income Tax on money brought into Thailand for personal u
I currently pay tax in Holland. My pensions (both State & private) are taxed at source. There is a tax agreement between Holland and Thailand so I can opt to pay tax in Thailand instead of Holland but in order to do this I would have to prove to the Dutch authorities that I am paying tax in Thailand. Does anybody know what the levels of taxation are in Thailand and exactly what they would tax?
Re: Income Tax on money brought into Thailand for personal u
You only need to pay income tax if working here, you get a receipt and a form called a 'por ngor dor 91' - this is needed to renew your work permit annually.
When your annual renewal comes (before the end of March) the tax office will work out what you're due based on your declared or reported income. You'll get discounts for being married to a Thai, having children attend a Thai school, and having a health/life insurance plan.
When your annual renewal comes (before the end of March) the tax office will work out what you're due based on your declared or reported income. You'll get discounts for being married to a Thai, having children attend a Thai school, and having a health/life insurance plan.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson