Tax residency in Thailand and taxing overseas income

[Big Boy]

For me, the lady wasn't interested in the source of the money, or how it was earned. She was simply counting all money received from overseas as taxable. There was no hint of how much of that money was earned/saved before 2024.

[PET]

^ It's even more interesting if the income you send here is from a mix of sources, including pensions. How do the authorities here work that out?

They cannot-work it out! The money they are after is from the rich Thais' who invest trade etc overseas and the profits stay overseas .

What the previous PM was after when he started this whole mess was to bring the lost billions back into the Treasury. He and they were not looking at western Pensioners to fund this,
It is plain common sense - perhaps that is the problem?

[Dannie Boy]

I’m not rushing to do anything tax wise - I have to go to Immigration first week of February to do my annual visa extension and will see if they say anything - hopefully they won’t!!

[PET]

I’m not rushing to do anything tax wise - I have to go to Immigration first week of February to do my annual visa extension and will see if they say anything - hopefully they won’t!!

I was there 14 days ago and NOTHING about tax mentioned.

[Dannie Boy]

I’m not rushing to do anything tax wise - I have to go to Immigration first week of February to do my annual visa extension and will see if they say anything - hopefully they won’t!!

I was there 14 days ago and NOTHING about tax mentioned.

Not sure whether you did your extension at Hua Hin, but I go to Cha Am - hopefully (for once at least) they’ll be some consistency!!


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[Big Boy]

As we all have until 31 March to do tax, I doubt the question will be anywhere close to their horizon yet.

[caller]

She was simply counting all money received from overseas as taxable.

It would be helpful to know how she calculated that?

[Big Boy]

That is all bank transfers received from overseas as shown on the letter from your bank..

[caller]

That is all bank transfers received from overseas as shown on the letter from your bank..

Thanks. And was there any mention of the DTA?

[Khundon1975]

I’m not worried about being taxed in Thailand when we move back,
I’ll just get some more popcorn.

[Big Boy]

That is all bank transfers received from overseas as shown on the letter from your bank..

Thanks. And was there any mention of the DTA?

Yes, it is a 2 part process:

1. They calculated my approximate Thai tax (I didn't have all of the paperwork at that stage).

2. I then asked about the effect of the DTA. She looked at how much UK Income Tax I had paid, and we converted the UK figure (approximately) into Baht. She then subtracted the UK figure from the Thai figure. Of course, that left me with a massive Tax surplus. She said I would never have to pay Thai tax. However, I'd still have to submit the paperwork.

This is why getting my P60 validated by the British Embassy is so important to me. I currently have it with the visa agents on Soi 94, who are discussing it with the British Embassy on my behalf.

[caller]

Thanks BB, it will be interesting to see what the visa agency come back with?

It's interesting to learn what the tax office told you about the DTA, and that she then continued to make calculations, rather than saying, that because of your personal circumstances, the DTA means you have no tax liability in Thailand. I belong to a Korat FB page, it will be interesting to compare what's happening there re: tax. As they have been asking the same questions we all have.

[404cameljockey]

Irrespective of any double taxation agreement, if you bring income into Thailand which for some reason is tax exempt in the UK, I have a feeling that it could attract tax in Thailand. I'm not talking particularly about UK income not subject to tax because it's under the UK minimum tax threshold, that surely should not be taxed here.

The agreement is about not paying tax twice, but If you are borderline on paying tax in the UK as maybe you have a lot of tax deductions in the UK so your income is not taxed there, can it still be taxed in Thailand if you bring it into the country. You've paid no tax on it?

I'm not looking to open a discussion on this (unless someone knows more than I about this which isn't difficult) as the whole situation is still so vague,

[PeteC]

I don't know if the attached chart has been posted or not, here it is again if so. Taken directly from the Thai Gov. tax guideline pages:

https://www.rd.go.th/fileadmin/user_upl ... AX2024.pdf

Edit: In addition, here is the link for the entire Thai Tax website: https://rd.go.th/english/index-eng.html

[londongeorge]

Big Boy I see you mentioned a P60. Could you tell me how I can get one from the UK? I haven't been there in over 20 years but kept up my NI payments for my pension which I am now receiving. When you went to the Thai tax office did the lady say that the P60 (or similar form) was required or would transfer details from the UK into my Thai bank suffice?