Tax residency in Thailand and taxing overseas income

[Chazz14]

Thanks for the replies - I'll visit K/korn in CA next week and see how it goes...

[Dannie Boy]

Thanks for the replies - I'll visit K/korn in CA next week and see how it goes...

When I visited the Kasikorn bank in CA, until they realised that I hadn’t received an email, they seemed to be more than happy with the fact that I had my passport with me, they only wanted my bank book and the passport, but when they found out I hadn’t received the email, they then said there was nothing to update!!

[404cameljockey]

All this K-Bank stuff really should have had its own thread. It's a pain to see my notifications pop up each day and find more!

[sateeb]

OK, heads up, this is not gospel I'm only repeating what my Visa agent said to me this morning whilst doing my annual extension.
When I asked her about this taxation malarky she told me not to worry, the authorities are not after retirees using taxable income from abroad. They are after, and I quote, "Those Russians and Ukrainians coming here without work permits and earning cash with online activities"

Not official but a hopeful sign.

[Dannie Boy]

There’s bound to be someone on the Forum who needs to do an annual extension early in the New Year - hopefully we’ll know soon enough what happens!!

[hhinner]

OK, heads up, this is not gospel I'm only repeating what my Visa agent said to me this morning whilst doing my annual extension.
When I asked her about this taxation malarky she told me not to worry, the authorities are not after retirees using taxable income from abroad. They are after, and I quote, "Those Russians and Ukrainians coming here without work permits and earning cash with online activities"

Not official but a hopeful sign.

Working without work permits, so how likely to register for income tax?

[Big Boy]

I thought Thailand were encouraging digital nomads. I didn't realise they needed work permits for that.

[sateeb]

There’s bound to be someone on the Forum who needs to do an annual extension early in the New Year - hopefully we’ll know soon enough what happens!!

Exactly why I did mine a month early.

[lomuamart]

Don't think I won any friends at KBank, Petchkasem Rd, this morning as I did these damn forms.

The lady wanted me to reply by email but I insisted I did it in the bank there and then - today is supposedly the cut off date.

HO was called up and again I was asked to complete things by email but I said that I knew that people had been doing it in branch.

After the two bank employees had had another chat, the appropriate form was printed off. All I did was fill in the personal details, state that I didn't have a Thai TIN and that my country said not to give out my UK TIN (UTR). Signed, dated, goodbye.

Let's see what happens in the NY.

[Big Boy]

That's a lot more than I did. The girly did it all for me.

[thecolonel]

OK, heads up, this is not gospel I'm only repeating what my Visa agent said to me this morning whilst doing my annual extension.
When I asked her about this taxation malarky she told me not to worry, the authorities are not after retirees using taxable income from abroad. They are after, and I quote, "Those Russians and Ukrainians coming here without work permits and earning cash with online activities"

Not official but a hopeful sign.

So it's possibly more of an age thing?

Hopefully they leave the 55+ alone

But they will question the 30/40 Yr olds and how they are supporting themselves

As ever, we'll have to wait and see

Sent from my M2007J20CG using Tapatalk

[sateeb]

OK, heads up, this is not gospel I'm only repeating what my Visa agent said to me this morning whilst doing my annual extension.
When I asked her about this taxation malarky she told me not to worry, the authorities are not after retirees using taxable income from abroad. They are after, and I quote, "Those Russians and Ukrainians coming here without work permits and earning cash with online activities"

Not official but a hopeful sign.

So it's possibly more of an age thing?

Hopefully they leave the 55+ alone

But they will question the 30/40 Yr olds and how they are supporting themselves

As ever, we'll have to wait and see

Sent from my M2007J20CG using Tapatalk

That was my impression.

[caller]

The Thai authorities have openly stated they are closing a tax loophole that allowed wealthy Thais' bringing money earned from abroad into Thailand tax free. That's their main priority. At the same time they have joined the international communities crackdown on tax avoidance, which is where we and others come in. Most of us are covered by DTA's, so at the very worst, we will have to prove we have paid tax in our own Countries, although a valid TIN helps, in that once verified, again for the majority of us, it will establish we are a registered tax payer in our country of origin

[404cameljockey]

Out of interest, has anyone living here on an overseas pension visited the Hua Hin Area Revenue Branch Office in Soi 88 and spoken to them? I don't recall seeing any mention of this in the thread (I may have missed or forgotten it).

[lomuamart]

In this tax year, the Thai authorities have said that they'll tax any income brought into the country, unless you can prove that income has already been taxed. Fine, I think. That's why Kbank are asking us to fill the forms in. It identifies us as potential tax payers here and it could be up to us to prove tax has already been paid. Again, if that's the case, for most, not an issue.

But, next year, the Thai tax man says he'll be after worldwide income, not simple transfers from abroad. So it's said.

So, assuming you have an income, to which country are you liable for tax purposes?

My very amateur understanding is that my rental income from the UK is derived from an immovable asset and so tax on it should be levied by the country in which that asset is - the UK. A simple internet search seems to confirm that within the parameters of the tax treaty between the two countries.

But pensions and other forms of income? I simply don't know but my gut feel is that they should be taxed here in Thailand. It's where I am resident for tax purposes. But I will be taking professional advice from my tax advisor when I'm next back in the UK.

Oh, and remember that it was the lanky PM here (Srettha - sic) who started this all off. He didn't last long in power.