Thread: Your handy cut out and keep guide to paying taxes in Thailand

From the Revenue Department website:

Any info on foreigners (me) who own Thai shares but no longer live in Thailand?

I pay tax on the dividends, 10% from memory.

Thanks in Advance

Originally Posted by David48atTD

Any info on foreigners (me) who own Thai shares but no longer live in Thailand?

I pay tax on the dividends, 10% from memory.

Thanks in Advance

Not a scooby.

Originally Posted by harrybarracuda

And if you've paid tax on foreign income remitted here, it will be credited against your tax dues in Thailand. But it looks like you will need paperwork.

And then the complications come when the tax year is different period, ie the Australian tax year starts July 1, halfway through the Thai tax year.

Originally Posted by mikenot

And then the complications come when the tax year is different period, ie the Australian tax year starts July 1, halfway through the Thai tax year.

Yes I can see being a head scratcher.

Originally Posted by mikenot

And then the complications come when the tax year is different period, ie the Australian tax year starts July 1, halfway through the Thai tax year.

The UK is April. This is going to be fun at the Tax Office.

AFAIK my dad was seriously good at 4 things.

Rock climbing. Mountain biking. Impregnating many, many young women. Tax avoidance.


Time to give the ol' lad a bell. I think he's in Poland.

Yeah, that's pointless 'fonzie' bollox as per.

Talking of bollix....

If the tax man does come knocking, you could always hide out at Mendy's.

He's looking for a human version of Yogi...

Someone who's a bit of a wrong un, drinks a load of water, is not too kind on the eye, doesn't wear any underpants, enjoys the company of voyeurs and likes noodling and his bollocks photographed regularly.

That place on his table is virtually yours.

Originally Posted by harrybarracuda

If you earn money paid overseas for work done in Thailand it is taxable in Thailand.

Yep. I pay Thai taxes and submit end of year Tax returns here. I also pay into the Thai social security system but the good news is, that once I stop working, I can get all that SS back that was contributed over the time I worked. Will not be a lot but enough for the wife and I to go on a trip somewhere for a few weeks.

Originally Posted by Reg Dingle

Talking of bollix....

If the tax man does come knocking, you could always hide out at Mendy's.

He's looking for a human version of Yogi...

Someone who's a bit of a wrong un, drinks a load of water, is not too kind on the eye, doesn't wear any underpants, enjoys the company of voyeurs and likes noodling and his bollocks photographed regularly.

That place on his table is virtually yours.

Is there a waiting list? Bet people are lined up outside his gate.

^^^^ I wish.

Originally Posted by Reg Dingle

That place on his table is virtually yours.

Have slept in worse places. I'm sure you have too.

Originally Posted by Stumpy

I pay Thai taxes and submit end of year Tax returns here. I also pay into the Thai social security system but the good news is, that once I stop working, I can get all that SS back that was contributed over the time I worked

When you finish working register to stay in the SSO within 6 months, they'll deduct less than 500thb per month from your selected bank account and you have the health insurance for life. Just in case your private health insurance finds a loophole if/when needed. The window to register is 6 months from the date of termination.

Originally Posted by Edmond

AFAIK my dad was seriously good at 4 things.

Rock climbing. Mountain biking. Impregnating many, many young women. Tax avoidance.


Time to give the ol' lad a bell. I think he's in Poland.

The only way you're going to avoid it now is sticking it under the mattress.

With the CRS in action, they can see what you've got in your accounts here and overseas, and they know what your immigration status is.

I don't think the old man will be much help.

They'll probably bung in onto the immigration requirements for annual retirement/family extensions. That a cert from the Thai tax office must also be submitted along with the bank docs.


#fun.times.

Originally Posted by Edmond

They'll probably bung in onto the immigration requirements for annual retirement/family extensions. That a cert from the Thai tax office must also be submitted along with the bank docs.


#fun.times.

Yes, they'll know who's here 180+ days. No hiding from that.

I don't mind paying, but foresee endless visits, accountants, different tax year start date embassy tax letters. Apostilles.
Waiting to see, maybe cheaper let them calculate and pay late fines than running around.

Originally Posted by david44

I don't mind paying, but foresee endless visits,

Yeah...this could end up being lot more visits depending on how your IO handles it. I never get wound up on the hype. I just cross the bridge when I get there. Some lose their minds and damn near have coronaries before its ever launched.

Originally Posted by Stumpy

Yeah...this could end up being lot more visits depending on how your IO handles it. I never get wound up on the hype. I just cross the bridge when I get there. Some lose their minds and damn near have coronaries before its ever launched.

Tax Advisers are having a fucking field day winding people up - it's a great way to generate business.

I think for most it's a wait and see exercise.

Agents are going to become a lot more popular.


I'm not cheap, but am only a PM away.

I actually went to the RD and asked. They don't ask for any ID or anything.

You need your passport and copy of lease agreement in Thai to get a TIN.

Then they said you can go to the website to submit your taxes - which is in Thai but translates well according to them.

E-FILING

Originally Posted by david44

I found this in English from RD but the rest of the site seems thai only or have I missed something.

หน้าหลัก | กรมสรรพากร : ยื่นแบบผ่านอินเทอร์เน็
Is the Foreigner ID issued for teh Mor Prom Covid app any use?

I doubt it, it's fuck all use anywhere else.

I cannot envisage how uk income which is taxed, say private pension income could ever yield a tax obligation under double taxation.

Originally Posted by malmomike77

I cannot envisage how uk income which is taxed, say private pension income could ever yield a tax obligation under double taxation.

Firstly the implication is that you need evidence to show it's been taxed.

Secondly, the implication above is that you get credit for tax paid up to a maximum of 100% of your Thai tax liability (if any).

So if you're taxed on something at 5% and the Tax Liability in Thailand is 7%, you may be expected to pay the difference.

But that's all way down the line.