Answered3 years ago
Do I need to file a tax return in Thailand if I bring US-taxed dividends and the Thai PIT is lower than 15%?
Hi, Question about thai PIT and US witholding tax on dividends.
Iam from germany and hold us dividend stocks in germany.
The US taxes the dividends with 15% witholding tax.
If i bring this US-taxed dividends to thailand do i have a tax credit?
If these money is the only i bring to Thailand do i have to fill a tax return
if the thai PIT is lower then the 15% payed US witholding tax?
Iam from germany and hold us dividend stocks in germany.
The US taxes the dividends with 15% witholding tax.
If i bring this US-taxed dividends to thailand do i have a tax credit?
If these money is the only i bring to Thailand do i have to fill a tax return
if the thai PIT is lower then the 15% payed US witholding tax?
Answer summary
This discussion addresses questions about the taxation of US dividends by a German national moving to Thailand. Key points include the 15% US withholding tax on dividends, the possibility of a tax credit in Thailand for foreign tax paid, the circumstances requiring a Thai tax return if one is considered a tax resident (spending 180 days in Thailand), and the current lack of a tax credit system in Thailand. Participants emphasize the importance of filing a tax return to declare foreign taxes to potentially mitigate double taxation.
24 repliesnewest first
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Steve *******
The US doesn’t do withholding on dividends. Of US dividends taxes are paid when you file. That 15% is the German authorities withholding. As with all things german it may take 2 decades, your first born, 3,000 paper reams and the alignment of all the stars to ever get that 15% back. It can be done but just try googling around to the German government websites involved to get an idea of just how many years of your life it will steal
Pete *******
@Steve ******
agree with Marvin my US dividend stocks held in a UK brokerage account were taxed at source in the US at 15% before the dividend reached my account .Steve *******
@Pete ******
didn’t know that about foreign stock held in The US
Marvin *********
OP@Steve ******
thats not correct the US hold 15% witholding tax with every dividend payed to german us stocks holder.
Phil ******
No tax liability in Thailand
@Marvin ********
. If you are worried pay a firm to confirm what I said. @Integrity ******
can assistMarvin *********
OP@Phil *****
sounds good! Questions is do we have to fill a tax return to apply for the tax credit or is there nothing to declare because 0 thai PIT.David **********
@Marvin ********
You have to file to show foreign taxes that you have paid.Phil ******
@Marvin ********
contact Ben @Integrity ******
to confirmPete *******
If you spend 180 days inside Thailand in a tax year you automatically become a tax resident and therefore liable to file a Thai tax return.
Marvin *********
OP@Pete ******
no if you have not to pay taxes you dont have to fill a tax return unless you are 180 days in thailand.Marvin *********
OPno. You can stay in thailand longer than180 days and must not fill a tax return if you not have to pay taxes. Its a self monitoring system there is no general duty to fill a tax return after 180 days.
David **********
@Marvin ********
Not true. Most foreigners resident in Thailand are required to file a return, same as most other countries.Pete *******
@Marvin ********
there are exceptions but in general remittances of assessable income above minimum thresholds will require a tax return to be filed once you become tax residentPete *******
@Marvin ********
isn’t that exactly what I stated?Bob **********
Nothing has changed why do people think the Thais are coming after us
Ant ******
@Bob *********
just because your paranoid doesn't mean they're not out to get youBob **********
@Ant *****
there not coming for the expats don’t have the man power for one and like myself I pay my tax at my home countryDavid **********
@Bob *********
New regulation this year. If you are already filing a Thai tax return, the new regulations probably won't impact you.Almost everyone else will have to file a tax return, if only to justify not paying taxes.
Bob **********
@David *********
you have an official link as tax law hasn’t changed there closing some loopholes holes but it’s the same as it’s been for yearsDavid **********
@Bob *********
******************************************************************************************
%20taxes%20its%20residents%20and,in%20which%20it%20is%20received.David **********
@Bob *********
the law hasn't changed, but the regulations have. It's old news now, effective January 1, 2024.Marvin *********
OPBob D'Andrea because they have a tax credit system like many other countries?
Charles ********
Under the tax treaties, Thailand is required to give you a credit on foreign tax paid on foreign income. Thailand has never developed a tax credit system... But is expected this year. Since it has not been created yet, we do know how it will work given that Thailand is essential taxing remittance in different years than the income...you will have to wait and see. 🤷♂️
The best advice I can give on "double tax treaties", is that they don't stop you from being double taxed, rather than tell how you will be double taxed.
The best advice I can give on "double tax treaties", is that they don't stop you from being double taxed, rather than tell how you will be double taxed.
Marvin *********
OP@Charles *******
thes have a credit sysem but it is not written in law for dividends on indiviudals. ****************************************************************************
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