Tax residency in Thailand and taxing overseas income
- Dannie Boy
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Re: Tax residency in Thailand and taxing overseas income
The test will come early next year when the first expat goes to immigration to renew their extension to stay.
Re: Tax residency in Thailand and taxing overseas income
I honestly can't see what taxation will have to do with Immigration. Many retirees simply use money in the bank, so don't have to show any money brought into Thailand. If they use Immigration, the entire thing will be a farce. It has to be the revenue department in conjunction with banks. A few people declaring some of their income to Immigration will cover just a fraction of the problem, especially when many retirees are declaring a pension that is already taxed.
This goes well beyond Expats. I don't expect Immigration to play any part in this.
This goes well beyond Expats. I don't expect Immigration to play any part in this.
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- Dannie Boy
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Re: Tax residency in Thailand and taxing overseas income
Well you’re probably and hopefully right, I was really only repeating what other “scare mongers” had mentioned, although it’s of course possible that immigration could say something like “have you got your clearance certificate from The Revenue” as part of the renewal process!!
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Re: Tax residency in Thailand and taxing overseas income
What is the basic rate of tax payable in percentage terms?Benroon wrote:It's been published in the Royal Gazette - you just need google and a thai speaker/reader to find the official document but it is also confirmed here
https://thailand.postsen.com/live-style ... -2024.html
Here is a calculator to tell you how much you will be liable to pay
https://www.uobam.co.th/en/tax-calculation
So essentially for retired chaps a ballpark figure for the 65k a month (and you're over 65) - will mean a tax bill of circa 18,000 a year. (I can imagine this is going to get very messy for anyone using agents money)
Thanks for all your great intel
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Re: Tax residency in Thailand and taxing overseas income
Yes, of course, and although I seem to be the only person in Thailand to be asked for it at renewal time, I am already regularly (not this year) asked for my P60.Dannie Boy wrote: ↑Sat Oct 14, 2023 11:37 am it’s of course possible that immigration could say something like “have you got your clearance certificate from The Revenue” as part of the renewal process!!
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- malcolminthemiddle
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Re: Tax residency in Thailand and taxing overseas income
The tax department already co-ordinate with other government departments. An example is the Land Department collecting business tax on behalf of the revenue department at the time of ownership transfer.Dannie Boy wrote: ↑Sat Oct 14, 2023 11:37 am Well you’re probably and hopefully right, I was really only repeating what other “scare mongers” had mentioned, although it’s of course possible that immigration could say something like “have you got your clearance certificate from The Revenue” as part of the renewal process!!
Re: Tax residency in Thailand and taxing overseas income
As my Marriage Visa ( Length of stay)expires in January I shall extent it for another year in December, and so will have 12 months to see what will happen.
I just hate all this scare mongering
I just hate all this scare mongering
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- Dannie Boy
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Re: Tax residency in Thailand and taxing overseas income
When renewing the extension is it 30 or 45 days before expiry - if it’s 45 I can just make it before the end of December?
Re: Tax residency in Thailand and taxing overseas income
I still don't believe it will be an Immigration job. Immigration are there to check on Immigration. The revenue department collect taxes. It's a bit like the bin men popping in to check your plumbing every time they collect bins.
This rule affects every person in Thailand, not just Expats. The Immigration department would have to expand vastly, and they will have to learn a completely different skillset.
Yes, as Expats, we are used to dealing with Immigration, but this, IMHO, is a completely different ball game.
At the moment, I think many of you guys are dancing to the scaremonger's tune.
This rule affects every person in Thailand, not just Expats. The Immigration department would have to expand vastly, and they will have to learn a completely different skillset.
Yes, as Expats, we are used to dealing with Immigration, but this, IMHO, is a completely different ball game.
At the moment, I think many of you guys are dancing to the scaremonger's tune.
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- Dannie Boy
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Re: Tax residency in Thailand and taxing overseas income
I can’t argue with your logic BB, but I and I’m sure countless others, have experienced the somewhat perverted joy some of the IO’s seem to get from making us jump through hoops whenever they can, so I’m still cautious that this might be yet another one!!
Re: Tax residency in Thailand and taxing overseas income
UK Personal annual tax allowance - I perhaps mistakenly thought the annual allowance was automatic. However, I came across a HMRC webpage saying that only a few limited categories get the personal allowance automatically, and that most people who are non-resident need to claim this annually on a HMRC form R43.
Is anyone using this form to claim their UK tax personal allowance?
Is anyone using this form to claim their UK tax personal allowance?
- Dannie Boy
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Tax residency in Thailand and taxing overseas income
I’ve never knowingly used that form but have been asked to submit a tax return every year since I retired. As non-resident you are not allowed/supposed to use the HMRC website but have to use proprietary software that is readily available - I’ve always been granted my personal allowance to offset the tax liability on my private and state pension.
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Re: Tax residency in Thailand and taxing overseas income
We were discussing this yesterday and someone had been told that it's not the expats they are targeting, more Thais who work abroad and bring earned money into Thailand
We'll see...
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We'll see...
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Re: Tax residency in Thailand and taxing overseas income
Edit: This is the link that has got me thinking.Dannie Boy wrote: ↑Sun Oct 15, 2023 12:17 pm I’ve never knowingly used that form but have been asked to submit a tax return every year since I retired. As non-resident you are not allowed/supposed to use the HMRC website but have to use proprietary software that is readily available - I’ve always been granted my personal allowance to offset the tax liability on my private and state pension.
I also use a proprietary software package. I found through trial and error a box to tick, that applies a personal allowance.
My worry, is that if this for the small number of categories that do qualify automatically ( i.e. a Minister in the Church for example ) I may be using a personal allowance I'm not entitled to.
It would be expensive for me if HMRC retrospectively withdrew my Personal allowance.
https://www.gov.uk/guidance/claim-perso ... ive-abroad
Re: Tax residency in Thailand and taxing overseas income
That was why on Friday I quoted this from the ruling:thecolonel wrote: ↑Sun Oct 15, 2023 12:37 pm We were discussing this yesterday and someone had been told that it's not the expats they are targeting, more Thais who work abroad and bring earned money into Thailand
We'll see...
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"...— from employment, a business carried on overseas, or property situated overseas — that is brought into Thailand should be subject to personal income tax...."
Because that does not say all money brought into Thailand.