Have been told if you delay sending pension to Thailand till following year no tax is applied if so how is this done or prooved
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TLDR : Answer Summary
The discussion centers around the taxation of pensions for expats in Thailand, specifically regarding UK pensions. There has been a misconception that delaying pension transfers until the following year would allow individuals to avoid taxes, but this option has changed since 2024. Most UK pensions are considered taxable income in Thailand, and expats are required to file tax returns, regardless of whether they have paid tax in the UK. It is emphasized that proving the source of funds (savings vs. pension) and understanding the double taxation agreement between Thailand and the UK are crucial for tax implications.
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check out this first. All incomes that earned before 2024 and brought it into Thailand. this is non taxable in Thailand. But, incomes that earned after 2024 and brought it into Thailand is taxable in Thailand. For example, if you have savings, 1 millions USD for your retirement, and prove it with your bank statements that showed that you already have money 2015, or 2016,18 like that, before 2024, then you brought parts of that into Thailand to live on in Thailand, so this is to be considered as non taxable in Thailand. But if you get pension every month, and bring it to Thailand since 2024, the money is taxable in Thailand. but check the double taxation agreement between your country and Thailand.
You were misinformed about delaying by a year, that option disappeared in 2024. So send it whenever you want and then work out whether you are due tax or not taking into account only the income you either transfer to Thailand or withdraw from ATMs or whatever. Most UK pensions count as assessable income from a Thai tax perspective, only those received as a result of civil service or some local authority work are not assessable. That doesn't necessarily mean you pay Thai tax, but you would need to file a Thai tax return
only Thai tax allowances count towards Thai tax, UK tax allowances are irrelevant. But as you are transferring 800k baht per year you are well above Thai tax allowances. However you can also claim a tax credit for any tax already paid on the income you bring into Thailand
If your gov or private pensions you pay uk tax you dont pay thai tax. I have personally been to tax office phuket, there's 2 offices on phuket, 3 times and all times they said dont waste our time filling anything out. If one day you are asked to go see them then you have to show you pay uk tax so keep that up to date. Please follow integrity legal on youtube. His american and a fully paid up thai national. His a lawyer and can legally speak about law, tax, etc. He posts a blog or reel every day. Frank speaking as well.
they check the bank statements that you provide them every year when you apply for your extension of stay. Thailand has also signed up to CRS so your overseas banks provide information
you need to show 12 months of bank statements to prove you have 12 months of transfers from overseas of a minimum of 65k baht per month. Not sure what my finances have to do with anything
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