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Income tax imposed by what country?

If non-Thai source (i.e. UK) then no income tax is imposed by Thailand.

No idea as to whether UK imposes, nor how much if they do.
 

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The income is from a private UK pension fund.

Can you (if you are living abroad (Thailand) pay tax in the country you reside or do you have to pay tax on the pension in the UK?
 

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The income is from a private UK pension fund.

Can you (if you are living abroad (Thailand) pay tax in the country you reside or do you have to pay tax on the pension in the UK?
There are bound to be many UK pensioners residing in Thailand who will be able to speak to your queries. I am from the US, and thus unfamiliar with UK taxation rules.

Thailand only taxes income generated within Thailand, which does not include foreign pension funds brought into Thailand, so any taxation issues will depend on the rules in the UK.
 

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I am pretty sure you will be taxed from 20-45% at source in the UK, depending on your total taxable income. Occupational pension is usually treated the same as State Pension and UK property rental income; regardless of where you are, if the income arises in the UK, you will be taxed in the UK.

I don't think Double Taxation Treaty will help, although I am not an expert. As it is regarding private pension income, QROPS may be your only option. But choose carefully and wisely. You need a scheme approved by HMRC. I have no personal experience re QROPS, so I cannot give you any more info.

In general, Thai tax rates are not great for high-earners and the tax-free personal allowance is very low.

GOOD LUCK.
 

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The income is from a private UK pension fund.

Can you (if you are living abroad (Thailand) pay tax in the country you reside or do you have to pay tax on the pension in the UK?
Ruben:

Taxation is a very difficult subject and since it concerns your personal monies recruiting professional help and advice is suggested.


This information was copied from a post in a thread titled "Expatriation" in the Thailand Expat forum. The thread's recent posts evolved into questions concerning our favorite subject "taxation".

NOTE: you may have to go to the Thailand Expat Forum thread "Expatriation" for the links to work.

Concerning the topic of Thailand Taxation, I reiterate that taxation is a complicated issue, with massive amounts of tax codes, requirements, modifications, exemptions, agreements, understandings and allowances, along with a great deal of interpretation. Common mistakes and/or errors in interpretation can have significant financial impact. Due to the possible financial impact, professional assistance is advised.

Below are links to some potentially helpful articles concerning retirement in Thailand and Thailand's Tax laws. Included are "English Language" links to the Thailand Department of Revenue and a link to Thailand's Tax Treaties with other Countries.


DOCUMENT: The Most Tax-Friendly Places to Retire Abroad By Kathleen Peddicord December 5, 2011
LINK: The Most Tax-Friendly Places to Retire Abroad - On Retirement (usnews.com)
EXCERPT:
Thailand: Income tax: Up to 37 percent on income remitted to Thailand, Sales tax: 7 percent, Property tax: None if owner-occupied, Capital gains tax: None, Tax on foreign retirement income? No


DOCUMENT: Retire in Thailand "Why Retire in Thailand?"
LINK: Retirement In Thailand - Bangkok Times Online

EXCERPT:
Money: It is easy to withdraw money through either bank transfers or ATM machines. You should set up a local Thai bank account and perhaps an offshore account to take advantage of the tax free status. Remember any money that you bring to Thailand is difficult to take out once it is transferred. It is better to keep the bulk of your money offshore.

Pension: If you are from the UK, you can also transfer your pension offshore and reduce your tax burden. A transfer can reduce your capital gains tax, income tax, dividends tax and inheritance tax to zero. Australians may also be able to access their pension if they are 55 and not in drawdown (not taken an income yet).


DOCUMENT: A SUMMARY OF THAILAND'S TAX LAWS, Prepared by: Ms. Sriwan Puapondh, Mr. Kobkit Thienpreecha, Mr. Dussadee Rattanopas, Tilleke & Gibbins International Ltd., Bangkok, Thailand February 2006
LINK: http://www.worldservicesgroup.com/gu...ax Guide.pdf

EXCERPT:
7. Territorial Rules
Under the Revenue Code, an individual, Thai or foreign, who derives assessable income from sources in Thailand is liable to pay personal income tax whether or not such income is paid within or outside Thailand. A person (Thai or foreign) who resides in Thailand at one or more times for an aggregate period of 180 days or more in any tax (calendar) year will be regarded as a resident of Thailand for tax purposes. A resident of Thailand is liable for personal income tax on income from sources inside Thailand and on assessable income derived from sources outside Thailand. However, the imposition of tax on income derived outside Thailand will apply only to income derived and brought into Thailand in the same year in which such income is earned. A non-resident is subject to pay tax only on income from sources within Thailand (irrespective of the place of payment).

The Revenue Department of Thailand LINK: ::Sitemap ::

Thailand Tax Treaty(s) with other Countries LINK: ::English::

I will also caution that tax codes are revised and modified on an almost continual basis, all need to be aware of, and verify that, they are dealing with the "current" tax codes in force.

I hope the links provided will allow individuals to clear up some of their taxation questions.

END of COPY



I hope this helps. Be very careful in your investigation in that only you will suffer if a mistake is made.
 
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