Thailand 0% tax

[Cloudbanck]

Yeah, but it is the ability, the de facto situation on⁤ the ground, that matters in most of the world. Whether you are obliged or not⁣ is very often not clear, and sure you can pay local lawyers who will be⁢ happy to take your money and give some seemingly smart answer that will contradict what︀ seemingly smart answer another lawyer told you.

Trying to find clarity/ a straight forward answer︁ in a chaotic third world place is falling for the fallacy that the whole world︂ operates like Germany.

 

[Radko]

My Thai tax advisor is telling me the same.

 

[jafo]

#Bingo!
Happens every day around the world and twice on Sundays!
That's how they make‍ money, and "governments" support this because it's income for them, too! It's a taxable event!⁠
It's no different than saying that rapists and pedophiles are committing felonies, mala in se,⁤ every day around the world.

If I pay you $100K for some BS opinion. The⁣ recipient MUST pay taxes on that! The government gets a huge percentage (in some places,⁢ more than 50%). If you don't know me and I don't speak to you, you︀ get $0, and your government gets $0! It's back to pirating, invading, and looting, but︁ that carries a risk of life and limb! 😛

Germany is anything but efficient, noble or moral, my friend!︂ That's a huge fallacy in and of itself! 😉

 

[Houdini]

You have a setup like that ?

 

[MagicMatt]

Yes

 

[JackieTsan]

According to what the tax advisor said, as the company‍ is mine, can be considered that the company (in offshore) is operated through Thailand therefore⁠ the company (as company) can be asked to be taxed in Thailand as a Thai⁤ company (despite it's NOT doing any business in Thailand, NOR remitting amounts in Thailand), but⁣ the tax advisor said that as I'm the owner it can be considered managing from⁢ Thailand therefore be taxed as a Thai company (The company, not me). as it might︀ be considered tax resident of Thailand as I am. Clear? Thank you!!

 

[jafo]

So, what happens︀ if you run a WORLDWIDE NOT-FOR-PROFIT organization in Thailand and you receive NO money and︁ use your own savings to improve the not-for-profit?
What are they going to tax you︂ in Thailand? 🙄

 

[JackieTsan]

Yes but this has not⁠ base, my company is profitable and there sticks the question..

 

[jafo]

OK, help me understand your mindset...

You 100% believe and‍ trust your advisor, as you mentioned here...

What's the point of asking further questions if you are 100%︃ cemented to what your Thai tax advisor licensed to provide tax advice by Thailand asserts?︄ 🙄

What am I missing here? 🙄

 

[JackieTsan]

Because the other one says something different..⁤ and the other one something different too…
So, I’m trying to understand what is the⁣ real situation..
And to add.. another one suggests I link the offshore company with the⁢ Thai company with contracts that the Thai company is getting paid to provide me to︀ the offshore in order to provide services. So with this way, according to the other︁ advisor, it’s safer and does not establish PE. But on the contrary, as I read,︂ it will be establish pe in this situation..
So you understand why I am so︃ confused and asking

 

[Mercury]

The real situation is Thai authority does not care about your offshore business and there‍ is no PE nor CFC enforcement.
If you need certainty and strict enforced rules in⁠ order to sleep well I suggest you settle down in any well-managed high tax country.⁤

 

[JackieTsan]

No way, I’m a citizen of one of them and⁤ left, and been typical I left and gave up retirements, health care etc so I⁣ can go far from this $h1t ..

 

[JackieTsan]

And to add: 1) yes, you really feel⁠ me, 2) there is PE law in Thailand but this is not exactly PE (as⁤ it doesn’t do any business inside Thailand), but can be considered that the company is⁣ managed/work is done/bank transfers from the tax resident been in Thailand. Correct?
Thank you

 

[jafo]

Ok.... now I understand you 100%! It truly is confusing! You are right!
The advisor︁ can be 100% right, but the tax authority can interpret something differently, and the judge︂ can side with the tax authority! I understand the predicament now! stupi#21

 

[toums]

@wellington
@JackAlabama

I am actually looking to update my address/tax residency on Interactive‌ Brokers for the 2025 tax year, as I quit few months ago Portugal (under NHR)‍ and now living in Bangkok.

Is there anything to know/ be careful by switching the⁠ address ? (still IB Ireland? ). Is there WHT on fiat currencies interest (till now⁤ I have 15% WHT on my USD cash interest, with my Portuguese address).

To justify⁣ the upgrade of my address, for now, I have 1year lease agreement + utility bill⁢ (home internet) under my own name (+ DTV visa actually). However I dont have any︀ TIN (thai) number.

Thanks

 

[churumbelo]

I would also like to know︀ because I will probably have to do the same.

 

[Radko]

From what I‌ recall the Withholding is also 15% for Thailand on USD interest and dividends.

 

[toums]

Hmmm ok, and for all ETFs (listed in UK‍ / Ireland), still no WHT ? (for dividend/interest distribution)

 

[Radko]

I can't tell you for sure, I‍ don't invest in UK/Ireland ETFs.

 

[toums]

Sorry, I meant all the big ETFs (ishares, vanguard etc..) are listed under‌ UK/Ireland, that's why you dont get normally any WHT on it (instead to US, where‍ you get usually the flat 15% WHT)