Taxes in Thailand

Dear all,

March is the month to fill in Tax Form !!

I would like to open a discussion on this topic and know from those who live in Thailand for more than 180 days if they are paying taxes or claiming taxes in some specific cases.

1) You get pension from overseas, do you declare anything in Thailand? Do you pay additional taxes in Thailand on top of the one take in your home country ?
2) You get rental income from overseas properties, do you declare anything ? double taxation treatied between Thailand and your country ? Which % your country take for your income ? ( for exampe france was taking 20% in Euope and 33% in Asia,.. )
3) You get Dividend from overseas share account and interest from overseas saving account. Do you declare them in Thailand?
4) Do you claim taxes back in saving account in Thailand as 15% is taken away on interests paid? Which process do you follow?

Thanks you

I don't go through the case of people working in Thailand or having business in Thailand, or having Non_B Visa and work permit, this can be discuss in a separate Forum.

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.

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?

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?

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

The link has been provided to you previously :

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