Answered8 days ago
What are the tax implications for staying more than 180 days in Thailand and transferring funds for a Non-O visa?
What are the tax implications if staying for more than 180 days in Thailand in any one year? Do you pay tax on the 800,000 paid into a Thai bank for the non o ? I am retired and from the uk.
Answer summary
If you stay in Thailand for more than 180 days in a year, you may be considered a tax resident and liable for taxes on income earned globally. For the Non-O visa, it is crucial that the funds transferred into a Thai bank account come from an external source and remain there for at least two months prior to applying for the visa extension. Many expats mention that they typically do not pay tax in Thailand on funds that have already been taxed in their home country, like the UK, but it is essential to have proper documentation and possibly consult a tax professional to navigate the complexities of tax regulations.
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Scott *********
Get an agent not FB
Scott *********
Get an agent not FB
Lee **********
Scott Edwards why they charge crazy money !! when with a bit of information most can do themselves
Shaun ********
Most chancers don't declare it
Phil ******
Consult a professional , taxes can be very complicated
Caroline *******
As I've said before... if you want to get your teeth fixed, you'd visit a Dentist...
I can personally recommend Expat Tax Thailand. Carl Turner does a great job and their website has a log of informative, useful information.
You can also book a free 15 minute consultation.
I can personally recommend Expat Tax Thailand. Carl Turner does a great job and their website has a log of informative, useful information.
You can also book a free 15 minute consultation.
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SpeedyAsp**********
For you None O visa the money needs to be seen to come from a transaction from another bank which isn't in Thailand.
Which has to be in your Thai bank account for 2 months prior to getting your 1 year extension.
Your not a tax resident until you've been residing in Thailand for 180 days
Which has to be in your Thai bank account for 2 months prior to getting your 1 year extension.
Your not a tax resident until you've been residing in Thailand for 180 days
Jim *********
None, stop stressing about it
Morten ********
I have visa.
If i transfer 1.000.000 thb to thailand.
From my pension that i alrwady paid tax for.
I cannot belive i have to pay one more time tax. How will that work ?
I know i have to pay tax to that country i am 181 days in.
If i transfer 1.000.000 thb to thailand.
From my pension that i alrwady paid tax for.
I cannot belive i have to pay one more time tax. How will that work ?
I know i have to pay tax to that country i am 181 days in.
ChipperCra**********
Getting professional financial advice is common sense.
Morten ********
ChipperCranberry8235 Good idea
Mark ************
We pay 40% tax U.K
38% in Thailand
38% in Thailand
Alexander *************
Most probably you don’t pay tax in Thailand on these 800’ because you already paid tax in UK. Just remit, file a tax declaration and be ready to back it up with explanations and hard copies. (Remittance from savings you don’t file by declaring, only income remitted but they wish to see your bank account and this amount is to be explained)
Stephen ********
Alexander DThornerian the challenge can be proving if money remitted is from savings or income. Easier if you run separate bank accounts and separate income (pensions etc) from savings/investments. Then you can establish an audit trail. And over 65's can remit about 400k bht p a on zero tax bands, using allowances
Alexander *************
Stephen Myhill well the rules are not carved in stone. You only have to make it credible - the first year is ought to be quite obvious that is either originated from taxed income or savings. Later more demands for credibility. So far the tax authority has accepted my claims without asking for extensive verification when I have transmitted funds (savings) from abroad. Of course the amount have not been substantial
Doug ******
Easiest option is to bring in the 800,000 before becoming a tax resident. Move to Thailand in the second half of the year so you are in country less than the 180 days in that first year.
Gerry ********
Doug Mann yes, and that can be done any time into the future, if significant capital needs to be remitted into Thailand.
John **********
There is no tax exemption on the 800k required for a visa or extension of stay. If you are not a Thai tax resident in the year you bring it in then there's no tax to pay. If the money was earned before you became a Thai tax resident then there's no tax to pay. If the money is assessable income you may have to pay tax, if it's already been taxed in a country with a dual tax agreement with Thailand you can claim a tax credit against Thai tax.
Jan ***************
@John *********
what do we get back from Thailand when we pay tax? Free health care?John **********
@John *******
published in various places by reputable companies and also by the Revenue DepartmentJohn **********
@John *******
any of the big consulting companies suc as PWCJohn **********
@John *******
what do you mean by instituted? It has been instituted a long time ago. The obligation to pay rests with you unless you're employed by a company in ThailandJohn **********
@John *******
of course, that would be the Revenue Department in my first response to you
The_No*******
180 days you are considered to be labile for money you have remitted into a Thai Bank account, the amount of interest you get from Thai banks on your 800,000K baht is a pittance, the Tax office knows this too, but depending on your “individual” situation you should seek professional advice, my situation is I have already paid tax on my money and my home country has a dual tax treaty with Thailand 🇹🇭.
Phil ******
@Alan ************
consult a professional mate. But did you already pay tax on the ฿800,000 in the UK?
Martin *******
Phil Beer consult a professional, not a prolific poster on Facebook.
ChipperCra**********
Phil Beer whether you have paid tax in another country does NOT prevent you from being required to lodge tax filing in Thailand, or paying tax in Thailand - your tax paid in another country may be deducted from the amount due in Thailand.
Phil ******
ChipperCranberry8235 I didn't Say that
I SAID CONSULT A PROFESSIONAL
I SAID CONSULT A PROFESSIONAL
Bob **********
ChipperCranberry8235 file if you like be me and everyone I know living here a long times gets a nice laugh at your posts there are tax treaty’s and Thailand does not have the resources to collect from the Thais let alone worry about us good luck to you
Bob **********
ChipperCranberry8235 Do me a favor and report and quit telling everyone they need to report
ChipperCra**********
Bob D'Andrea yes, Thailand has now implemented the international Common Reporting System which now provides greater visibility of expats income with countries sharing data. It may be a few years yet but they are moving to identify tax avoidance by expats - common sense. Bury your head in the sand, makes no differences to me. My income is not assessable anyway 🤣
Dick ********
ChipperCranberry8235 non of what you stated applies to non assessable income.
Elías ********
ChipperCranberry8235 it depends on each SPECIFIC DTA. No two countries have the same rules.
Elías ********
ChipperCranberry8235 nope. DTA determine each and every aspect of taxation. But again, each and every DTA with each country is different.
ChipperCra**********
Elías Molina DTA’s only allow you to deduct one countries tax form another’s, and in rare circumstances it exempts income as not assessable. Most income brought into Thailand is assessable and taxable, and again you can deduct tad paid from another country from tax due in Thailand - which in most circumstances will cover all taxes due anyway. It still requires you to lodge and get assessed.
James **********
ChipperCranberry8235 why do you need to hide anonymously to say that?
ChipperCra**********
James Mitchell because of twats like you 🤣
John ********
James Mitchell Free Tax advice at The Chipper😂😂
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