Taxes in Thailand

I would like to know of someone in Bangkok that does Expat taxes, and how much they charge?  Thanks Patrick

Taxpayers are classified into “resident” and “non-resident”. “Resident” means any person residing in Thailand for a period or periods aggregating more than 180 days in any tax (calendar) year. A resident of Thailand is liable to pay tax on income from sources in Thailand as well as on the portion of income from foreign sources that is brought into Thailand. A non-resident is, however, subject to tax only on income from sources in Thailand.

        Income chargeable to the PIT ( Personal Income Tax ) is called “assessable income”. The term covers income both in cash and in kind. Therefore, any benefits provided by an employer or other persons, such as a rent-free house or the amount of tax paid by the employer on behalf of the employee, is also treated as assessable income of the employee for the purpose of PIT. Assessable income is divided into 8 categories as follows :

1- income from personal services rendered to employers;
2- income by virtue of jobs, positions or services rendered;
3- income from goodwill, copyright, franchise, other rights, annuity or income in the nature of yearly payments derived from a will or any other juristic Act or judgment of the Court;
4- income in the nature of dividends, interest on deposits with banks in Thailand, shares of profits or other benefits from a juristic company, juristic partnership, or mutual fund, payments received as a result of the reduction of capital, a bonus, an increased capital holdings, gains from amalgamation, acquisition or dissolution of juristic companies or partnerships, and gains from transferring of shares or partnership holdings;
5- income from letting of property and from breaches of contracts, installment sales or hire-purchase contracts;
6- income from liberal professions;
7- income from construction and other contracts of work;
8- income from business, commerce, agriculture, industry, transport or any other activity not specified earlier.

Tax Clearance Certificate   is a certificate issued by the Director-General of the Revenue Department or the Provincial Governor or the delegated authority to a foreigner who is departing Thailand to indicate that he has already paid taxes or that he has provided a guarantor or securities as guarantee for tax liabilities and tax payable.

A foreigner departing or attempting to depart Thailand without a Tax Clearance Certificate shall pay a surcharge at the rate of 20% of the tax amount.  In addition he shall be subject to a fine not exceeding 1,000 Baht or an imprisonment not more than 1 month, or both.

thailand4me wrote:

I would like to know of someone in Bangkok that does Expat taxes, and how much they charge?  Thanks Patrick

Rather than pay someone to do taxes for you download one of the tax programs available online to complete taxes yourself.  You can choose from Turbotax, TaxCut or TaxAct.  Over the years I've tried all three but currently use TaxAct because I prefer its interface and I can use the free version.  All three are great programs and make it easy to e-file your taxes or you can print out and mail. 

If you prefer someone to do your taxes then give James Rooney a call.  Cost will depend on your situation.

http://www.jprooney.com/Thailand-Taxplan.php

If you meet the requirements don't forget to file FBAR and FATCA forms.  The FBAR is a US Treasury report that must be done online and FATCA is IRS form.  Both are covered in TaxAct and most likely in other programs also.

If monthly salary THB 120,000 or (yearly = 1,440,000) how much income tax i should expect to pay? Is it full 25% on 120,000?? or do you have to calculate by slabs?
Thanks!

canada2006 wrote:

If monthly salary THB 120,000 or (yearly = 1,440,000) how much income tax i should expect to pay? Is it full 25% on 120,000?? or do you have to calculate by slabs?
Thanks!

Firstly you don't need to post the same question in 3 different forums.

The link has been provided to you previously : http://www.rd.go.th/publish/6045.0.html

You have all the progressive tax rate in chapter 3 to do your calculation. You put all of this in an excel spreadsheet and you will arrive to basic 225,000 THB tax for single without any deductions !!

After the basic calculation for single tax payer can be reduced if you are married, have kid, etc....( all explained in chapter 2.2 allowances and deductions ), that means your total income 1,440,000 THB will be reduced this will affect the last progressive rate of 25% only as it is between 1M and 2M

You can find some app for iphone or android to calculate Thai income Tax

@kris napat

Hello

I living since long time in thai but just open a account on international broker .

I want to know if the future interest or money earning on the platform would bé tax if i not transfer money on my thai  account and if ishould at least claim it ?

I am confuse with the new thai laws

Thanks for your  time

Thailand introduced taxes on global income an 1.1.2024 for anyone that is a tax resident/staying here longer than 180 day. So if you transfer it do a different country which is part of the same treaty you are at risk

It all depends on if you have an allowance (pension/government) in home country so you have to submit your tax return there, this means you are registered and you need to submit interests as well.

And if you are registered 'here or there' tax audit is a real chance

In Thailand however there are many deductions possible and somewhere around 500,000 THB will not be taxed break out the calculator....

@martinoo2002

What if i let the money on the platform on  the international broker and not transfer the money in thai account ?

if the money staying in that platform its not under thai gouvernement ? Do i have to claim it ?

I just want to be sure about that case to not have any problem as i live with m'y familly

This is exactly how ik keep my assets hidden.  Broker/platform is not obliged to report. I  spilt any cash outs  to a few different accounts including 3rd party. Wife, daughter, girlfriend mia noi 😁etc

Wife, daughter, girlfriend mia noi 😁etc - @martinoo2002

🤣

Which broker platform are you using, if I may ask?

@martinoo2002
What if i let the money on the platform on the international broker and not transfer the money in thai account ?
if the money staying in that platform its not under thai gouvernement ? Do i have to claim it ?
I just want to be sure about that case to not have any problem as i live with m'y familly - @guillaumenitaya

The tax rule states that savings having from before are not under taxation. Only new incomes from external sources could be but should arrive from a Juristic person abroad by an international monthly transfer on a thai bank account, or learned directly in Thailand. So also the money on a platform are considered savings that you had before and invested to get a % of return.

Untill they stay there no problem.

I receive a UK Civil service pension.

Under the dual taxation agreement this should be untouchable by Thai tax authorities. I also savings, mostly from pre 2024, but some afterwards too. I have already paid tax on all of this.

1.) is my civil service pension safe from being taxed if I transfer any monthly income to Thailand?

2.) same question re my savings....

@JonSt

coins.co.th

@Simonbolton

1) If  there is a DTA, which UK should have, then your understanding is correct

2) If you show with bank- or other statements these saving should be exempt.

Also if you transfer your full allowance monthly it will support that the saving must come from before  2024

@martinoo2002

Thanks a lot for your answer

Ok good to know we keep it secret 😉

Anyway i think it would bé too strange that thai gouvernement can go to take on american financial company . I use ibkr its quite big

I didn't get all what u say about the différents account and third party . Its kind of fiscal optimisation ? I would bé interested to know about it but maybe you préfère keep it secret

.  M'y english is not so good i talk more thai everyday here

@Maxi Mari

Ok then if i understand money coming from investment on broker is not treat same than income from overseas

Its normal for me coz its get already get tax in my country before

Btw  if i fill w-8ben  document on the broker what the tax they would take on dividend

Thanks a lot for ur time its help me a lot coz the law   here are really not clear

I follow a meeting between french embassy and thai fiscal guy représentant gouvernement . Hé was saying than even money already taxes overseas can be tax again . That a joke

@martinoo2002

Thank you very much once again.

You are a mine of important information.

🙏

@guillaumenitaya

US, France and THAI, since 1.1.2024, and a lot of other countries are member of the Organization for Economic Co-operation and Development (OECD) So they will exchange information about significant holdings and interest. Better move to a local broker. There is no escaping it..

Pull the English through for example CHAT-GTP and ask for a translation, works both ways

@Maxi Mari
Ok then if i understand money coming from investment on broker is not treat same than income from overseas
Its normal for me coz its get already get tax in my country before
Btw if i fill w-8ben document on the broker what the tax they would take on dividend
Thanks a lot for ur time its help me a lot coz the law here are really not clear
I follow a meeting between french embassy and thai fiscal guy représentant gouvernement . Hé was saying than even money already taxes overseas can be tax again . That a joke - @guillaumenitaya

Hi

It will be taxed again in the following manner.

You have to prepare a Thai tax return, online or in person, at the end you can declare paid taxes. If the Thai taxations is higher you will have to pay the difference, overall never a lot as you have been taxed already..

Pensioners can have an issue as often government allowance and private pensions are tax free.

Governmental allowances/pensions you should declare/explain as Social Security as that is what it actually is

Private Pensions is a whole different animal when tax free. The only thing you can do is try to use the DTA to show your pension is tax free. In that case it is really up to the Thai official to accept or not....you can appeal the decision as per below

Appeal in dispute of tax assessment

In the case where a taxpayer disagrees with the assessment made by the assessment officer, he has the right to appeal to the Commission of Appeals (in the form P.S.6) within 30 days starting from the day which an assessment notice has been received.

Should a taxpayer disagree with the ruling of the Commission of Appeals, he has the right to appeal within 30 days starting from the day the ruling of the Commission of Appeals has been received. Should he fail to appeal within 30 days, he no longer has the right to appeal and must pay the whole amount of tax, fine and surcharge.

@martinoo2002

Yes, I’m aware of the international arrangement between these countries. 

I plan to declare my capital with this international broker both in France and in Thailand, but I don’t plan to repatriate these funds. Since I don’t have large sums, the Thai tax system would be quite favorable in my case, as it taxes only income and has low taxes for low income.

@guillaumenitaya

If you can show you had these funds in/or  before 2023, you can safely transfer..

Profits/interest and the like you have to add as income in your tax return

In my case, it's better to wait rather than transfer to Thailand. Who knows, maybe they will make it easier and better for expatriates in the future if they see that expats might leave due to potential double taxation or complexity.

The political situation here isn't very stable, and some young politicians might have different strategies.

Thai people are really dependent on tourism, and they have their own methods for bringing devices into the country.

@Maxi Mari
Ok then if i understand money coming from investment on broker is not treat same than income from overseas
Its normal for me coz its get already get tax in my country before
Btw if i fill w-8ben document on the broker what the tax they would take on dividend
Thanks a lot for ur time its help me a lot coz the law here are really not clear
I follow a meeting between french embassy and thai fiscal guy représentant gouvernement . Hé was saying than even money already taxes overseas can be tax again . That a joke  - @guillaumenitaya
Hi
It will be taxed again in the following manner.
You have to prepare a Thai tax return, online or in person, at the end you can declare paid taxes. If the Thai taxations is higher you will have to pay the difference, overall never a lot as you have been taxed already..
Pensioners can have an issue as often government allowance and private pensions are tax free.
Governmental allowances/pensions you should declare/explain as Social Security as that is what it actually is
Private Pensions is a whole different animal when tax free. The only thing you can do is try to use the DTA to show your pension is tax free. In that case it is really up to the Thai official to accept or not....you can appeal the decision as per below

Appeal in dispute of tax assessment
In the case where a taxpayer disagrees with the assessment made by the assessment officer, he has the right to appeal to the Commission of Appeals (in the form P.S.6) within 30 days starting from the day which an assessment notice has been received.

Should a taxpayer disagree with the ruling of the Commission of Appeals, he has the right to appeal within 30 days starting from the day the ruling of the Commission of Appeals has been received. Should he fail to appeal within 30 days, he no longer has the right to appeal and must pay the whole amount of tax, fine and surcharge. - @martinoo2002

The taxation of foreigners should then be based on an autodeclaration made voluntarily of an income received out of Thailand?

And this in a country where most of Thais do not decleare any income?

Furthermore Thai Ministery of Finance is in the condition to receive income informations, protected by privacy rules, about each foreign citizen that enter or stay in Thailand?

It appears to be based on a weak system.

Does one have to state transferred funds on a tax return form?

I am moving to Thailand in a couple of months and my income will be zero for many years until my pension payments begin. I imagine I will fill out a tax return form, if at all necessary, with a "0" where it says income.

Nothing earned nothing to declare... simple, the whole thing relates to income in any kind of shape or form. Which includes interest on any form of capital holding

@Maxi Mari

Yes, the system is weak because of the control appratus which not exist.

But.. through immigration tru tax department has a nice pool of farang is not all. Only question added to visa requirement will be ahead are tour annual earning.

There is no privacy law protecting that in Thailand after  joining the rest of the world with exchanging information. Organization for Economic Co-operation and Development (OECD)

Thai government asks your cooperation but will enforce ( like through immigration data) which will lead to fines and interest...

I advise everyone to submit because almost every civilized country has a DTA double tax agreement in which all government pensions and social securities are taxed in source country only.. And if you are taxed it will basically be at a higher tariff then the Thai progressive rates.

I mainly advise this because of the information they can get from either your home country and /or easier from Thai immigration.  And believe.me they will fine.. low hanging fruit first

Just a 'general' post, but I think important to understand

Thailand has made this requirement a LAW, this means if you do not voluntarily cooperate you are subject top fines (as high as 100% on tax related issues) and interest for the period and amounts that you did not declare.

The Thai system is always create a law and see what happens without any staff to support physical checks.

However we all need to be aware of the fact that Thai immigration harbors a lot of financial information from us, even when you are on 'bank balance' Immigrations and Thai Revenue only need to link the systems, with an  additional question and proof required (some immi offices already do this) of income and you are royally fooked and they will go back to 2024, even when you are caught in 2030.... brrr

That said, if your home country and Thailand have an DTA, check the pension clause and normally it will say that it can only be taxed in the source country... you are basically safe, but they could still ask you about this, but technically they have no footing

If there is no DTA, and you are being taxed in home country you can deduct your paid taxes and have benefits like 1 person allowance, wife allowance, taking care of elderly parents (in-law) and various other small deductions. In the end the amount to be paid is, for what I have heard, relatively small.

If you are not being taxed in home country than it becomes more difficult unless you can prove your allowance is deemed tax free in home land and then the DTA should work again in your favor

USA calls their 'government pension' Social Security, in Thailand for Thai taxpayers that is tax free. Make sure they understand and confirm that

IMPORTANT NOTE; many immi offices are not aware of the above, print and take the DTA with you!!, they are available on the internet.... and still you can go in appeal, see an earlier message of me

Sticking your head in the sand will not work.... 

Yeah i think better bé clear with the host gouvernement you staying in . When play with fire you will get burn . I will not import any unnecessary money here .

Nothing earned nothing to declare... simple, the whole thing relates to income in any kind of shape or form. Which includes interest on any form of capital holding - @martinoo2002

Great, that is the only thing that makes sense in my head, but the scaremongering going on, especially in other forums, is pretty confusing. Thanks

@Maxi Mari
Yes, the system is weak because of the control appratus which not exist.
But.. through immigration tru tax department has a nice pool of farang is not all. Only question added to visa requirement will be ahead are tour annual earning.
There is no privacy law protecting that in Thailand after joining the rest of the world with exchanging information. Organization for Economic Co-operation and Development (OECD)
Thai government asks your cooperation but will enforce ( like through immigration data) which will lead to fines and interest...
I advise everyone to submit because almost every civilized country has a DTA double tax agreement in which all government pensions and social securities are taxed in source country only.. And if you are taxed it will basically be at a higher tariff then the Thai progressive rates.

I mainly advise this because of the information they can get from either your home country and /or easier from Thai immigration. And believe.me they will fine.. low hanging fruit first - @martinoo2002

I have been living since 11 years on my savings, having been in the job less category inscribed in the job less list in my country for all this years and without any job less help from the public social system, means no income for all this years. Have sold my apartment in my country and kept that money as savings to live.

Have transfered 11 years ago by bank the necessary amount to cover the 800,000 baht for the Retirement Non imm O stay permit and used cash currency to change and live, aswell foreign Credit card to pay at Supermarkets for food etc. when and where possible.

So it becomes really difficult to understand what and how to declear something that never existed, cause never received any income there or here in all this years.

And which is the form that should be used to declear a zero income which is antithetic considering that the thai fisical person do not need to file anything, specially under a certain amount of yearly income, so should be also for a foreigner or is it different?

If this is a law then Immigration should have given us the rule statement about it, like they did and do every year with overstay and ban rules, and the 2 month before, 3 month after money on account level (800,000 and 400,000) that we duly read and sign.

They know every details of us, Address reconfirmed every 90 days directly or on-line, e-mail, tel number etc, but never have we been informed directly of the taxation rules and procedures like every civilized country is doing with own tax payers.

In this case we debate on a forum and try to help each other to understand what an other country in other language has ruled without involving foreigners.

By the way having condition of Non Immigrant, with no permanent stay permit, without permanent right of residency, without right of Health and no hospital assistance and without social pension that such a taxation should include looks to be absurd, specially considering that a Thai citizen if would live and have stay permit in my country would benefit automatically of all this advantages.

@Maxi Mari

So it becomes really difficult to understand what and how to declear something that never existed, cause never received any income there or here in all this years.

This is the crucial point. No income nothing to declare but as soon as you get any form of income and bring it into Thailand than it is taxable from any source with the DTA as guidelin, with attention to 'taxation by income from source country'  Savings are not considered income. But be prepared to proof it all existed before 1.1.24

BTW. Interests from for l example renting out a property in your home country is also considered income.  As is interests in other investments.

They know every details of us, Address reconfirmed every 90 days directly or on-line, e-mail, tel number etc, but never have we been informed directly of the taxation rules and procedures like every civilized country is doing with own tax payers.

Thai starte departments do not seem to.communicate or sometime are contradicting each other. Secondly they dont have the manpower, despite funding through.charging foreigners on everything to follow.up on the new laws in any area... but I am always suprised they come with at least with 3 people to our house to verify I live there. Than they start talking about the large land we have.😀

Even within departments things are different. Just look at immi offices, every office can have different requirements than another...

Your final paparagraph is spot on but TIT... what can I say

I also advise everyone to create a Google alert on Thai.tax law. But do filter...Sometimes good government information, sometimes foreign.'advisors ' out for some money.

Never ever use a consultant/agent, always go.to the source..for free .

And use AI sensible as first source.

(Yes I have shares😀 😀)

Just for my understanding... this whole thing about before or after 1st January 2024 only matters if you are living in Thailand and are a tax resident, right? What I mean is, if I move to Thailand in 2025, it is only after I become a tax resident, that Thai tax laws apply to me?

Correct

Correct - @martinoo2002

Great.

It seems from some of the discussion people are afraid that Thai government can go back in time and tax income from when one had nothing to do with Thailand and was a tax resident in another country. I will only focus on potential income made after I relocate to Thailand

Yes, there is a lot of misinformation and fear mongering....coming with unintelligible people that do not provide sources of their (mis)jnformation. Just only take info from the Thai government and reliable sources like Forbes, Price Waterhouse,Reuters

The laws is activated 1.1.24. So they only go back with a tax audit to 2024. And if you failed to submit or falsely submit you will get fined and pay interest. And they are not soft on this.

I worked for a few multinationals here as CFO so I have hands in experience and they are harsh; interest at their rate, fines and backwards and check over the past 5 to 10 years...therefore we always complied...

Here is link that might stop everyone holding his breath😁😁

The first is a link from e reliable source but I assume you have no membership..

https://news.bloomberglaw.com/daily-tax … eas-income

So I link to a readable source with the same information

https://aseannow.com/topic/1351759-thai … l-changes/

Forget the comment... unintelligible most like 99% of them....

Thank you Martin

The way I see it;

I will be moving in a couple of months and will become a tax resident. I'm happy to pay Thai taxes of any income, which will be interests and capital gains from stock etc., while living in Thailand.

Everything I have earned prior to moving to Thailand has nothing to do with Thailand and was earned while being a tax resident in another country, Denmark, and is therefore "savings" now and not income. Even income that was somehow tax-free in Denmark, e.g. gains from selling property.

Found a source supporting my "thoughts"

See: Income Earned Prior to Living/Retiring in Thailand

https://www.thethailandlife.com/expat-t … n_Thailand

@JonSt

I like this quote

Why Is Thailand Changing the Law for Expats?

It is all about raising money, not about targeting expats...😉

I.would say the overwhelming majority of income brought into Thailand would be expats.

Maybe it would better better to write 'source'

Just kidding....