Mosha
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Post by Mosha on Sept 27, 2023 6:39:49 GMT 7
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chiangmai
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Post by chiangmai on Sept 27, 2023 7:15:25 GMT 7
When you say tax payer in your home country does that mean: You filed a tax return but no tax was due, or you filed a return and paid tax on something, or you would normally file a tax return if you lived there but because you live in Thailand you don't? |
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chiangmai
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Post by chiangmai on Sept 27, 2023 8:01:19 GMT 7
I don't wish to appear to be overly pedantic but the devil is in the detail. Merely being a citizen of a country that has a DTA with Thailand doesn't seem adequate, all Brits are tax payers using that definition yet many evade taxation. One example: a British subject is Thai tax resident, they receive UK State pension and also rental income in the UK. Each year they file a tax return but because the income is within the personal allowance, they pay no UK tax. That income is then exported to Thailand, under current rules, will it be taxed by Thailand or not because whilst the filer is technically a UK taxpayer, they have paid no tax on the income.
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Mosha
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Post by Mosha on Sept 27, 2023 9:43:06 GMT 7
When you say tax payer in your home country does that mean: You filed a tax return but no tax was due, or you filed a return and paid tax on something, or you would normally file a tax return if you lived there but because you live in Thailand you don't? If you are liable to taxes back home on money earned there, you can't be taxed on it here is how I read the article in the link. |
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chiangmai
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Post by chiangmai on Sept 27, 2023 10:24:39 GMT 7
I confess I am thick on this issue! What does being liable to tax mean? Does it mean that you must report your income to HMRC and file a tax return, even though there may not be any UK tax to pay? If you are tax resident in Thailand and all your UK income is below the the Personal Allowance ceiling and you file as UK non-resident, after a while HMRC will tell you that you no longer need to file a return, unless your circumstances change (they've done that to me twice in my life). In that scenario, am I no long liable to UK tax, according to the definition above?
It seems to me that what is really being said is that if you are a citizen of a country with which Thailand has a DTA, you are not liable to Thai tax on any income that arises in the UK. But being a citizen and being a tax payer are different things.
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Mosha
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Post by Mosha on Sept 27, 2023 11:53:07 GMT 7
I confess I am thick on this issue! What does being liable to tax mean? Does it mean that you must report your income to HMRC and file a tax return, even though there may not be any UK tax to pay? If you are tax resident in Thailand and all your UK income is below the the Personal Allowance ceiling and you file as UK non-resident, after a while HMRC will tell you that you no longer need to file a return, unless your circumstances change (they've done that to me twice in my life). In that scenario, am I no long liable to UK tax, according to the definition above? It seems to me that what is really being said is that if you are a citizen of a country with which Thailand has a DTA, you are not liable to Thai tax on any income that arises in the UK. But being a citizen and being a tax payer are different things. If your income is generated in the UK, and you receive a P60 every year. It has the words tax statement somewhere on the form. Well at least mine does. Then I'd say you're supposed to pay UK tax if your income is high enough. I'm still waiting for DWP to tell HMRC I get my OAP now, I did call the tax people, and they told me it was up to DWP. Along with we almost never get calls like this  . But if you get a P60 then you pay HMRC. If you have money coming into Thailand, that hasn't been taxed elsewhere, then they may want to know about in a Thai tax office. That is how the article reads to my eyes. |
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chiangmai
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Post by chiangmai on Sept 27, 2023 13:24:08 GMT 7
I guess we'll just have to wait and see how this all pans out.
My understanding is that a P60 is a notice of tax withheld on salary, issued by an employer. I don't have a P60 because I don't have an employer and I'll be surprised if you do. I do however have a notice of tax coding issued by HMRC, this is sent to my SIPP provider, Hargreaves Lansdowne, so they know how much private pension to pay me tax free each year and when to start deducting tax. My tax code number is the personal allowance, minus the UK state pension.
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Mosha
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Post by Mosha on Sept 27, 2023 15:40:10 GMT 7
I guess we'll just have to wait and see how this all pans out. My understanding is that a P60 is a notice of tax withheld on salary, issued by an employer. I don't have a P60 because I don't have an employer and I'll be surprised if you do. I do however have a notice of tax coding issued by HMRC, this is sent to my SIPP provider, Hargreaves Lansdowne, so they know how much private pension to pay me tax free each year and when to start deducting tax. My tax code number is the personal allowance, minus the UK state pension. I get one every year from the people who handle my former employer's company pension |
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chiangmai
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Post by chiangmai on Sept 27, 2023 17:52:52 GMT 7
That makes sense then. I am my former employer so I obviously didn't issue one, I must be fined I suppose.
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Mosha
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Post by Mosha on Nov 17, 2023 17:39:18 GMT 7
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rubl
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Post by rubl on Dec 2, 2023 21:26:37 GMT 7
There is a suggestion that in part this new taxation idea is to counter accusations of whitewashing money and other dubious practices. Latest I heard is that in 2025 you might feel the heat over 2024 income. All depends on tax treaties your country of origin has with Thailand.
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chiangmai
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Post by chiangmai on Dec 3, 2023 3:48:40 GMT 7
There is a suggestion that in part this new taxation idea is to counter accusations of whitewashing money and other dubious practices. Latest I heard is that in 2025 you might feel the heat over 2024 income. All depends on tax treaties your country of origin has with Thailand. I don't wish to appear snobbish but those debates about tax have exposed the average IQ of the forum, so many people don't have even a basic understanding about how taxation works in any country. |
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. But if you get a P60 then you pay HMRC. If you have money coming into Thailand, that hasn't been taxed elsewhere, then they may want to know about in a Thai tax office.
Jan 4, 2023 21:15:53 GMT 7
Jan 4, 2023 21:15:53 GMT 7
