Thailand 0% tax
- Thread starter yngmind
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Tax resident of Thailand with an offshore holding company that owns a crypto portfolio.
Tax resident executes occasional trades for the company on offshore exchanges while both in and outside Thailand.
Company earns fiat income from crypto disposals and staking dividends in the form of crypto. Neither are remitted to Thailand.
Is this company at risk of PE/CFC rules?
Tax resident executes occasional trades for the company on offshore exchanges while both in and outside Thailand.
Company earns fiat income from crypto disposals and staking dividends in the form of crypto. Neither are remitted to Thailand.
Is this company at risk of PE/CFC rules?
I understand they may be incompetent, but is the structure I described legally tax exempt? The laws have changed in recent times.
Yes it is, and soon this will be clarified. Also Thailand has very strict crypto taxes, your accountant should consult you. Please check the new rules also.
I'd suggest to consult big firms like KPMG, BDO, Grand Thorntons etc, all is very tricky, you subject to 35% tax but I'm not sure, please check with serious high level companies.
Also do you have a work permit?
Thank you
I hope there's some kind of clarification soon because when I go looking for information on this all I find is lots of out of date information on new rules which have subsequently been cancelled.
Capital gains and other investment income are not subject to tax in Thailand if not remitted: Thailand - Individual - Income determination
Capital gains and investment income earned by a resident from sources outside Thailand are not taxable unless remitted to Thailand in the year of receipt.
Soon the "year of receipt" part will be removed though, but the rest will hold true, likely for years to come.
Capital gains and investment income earned by a resident from sources outside Thailand are not taxable unless remitted to Thailand in the year of receipt.
Soon the "year of receipt" part will be removed though, but the rest will hold true, likely for years to come.
Thailand is not the West. Law is barely enforced and when it is, it's bypassed/mitigated with bribes.
Instead of looking on what is legal/illegal, rather consider what is enforce/unenforced and copy what locals do/don't.
Trading from your laptop can be theoretically considered as working in Thailand. You would need a work permit and pay taxes on your profit/salary even if offshore. But it is never enforced nor enforceable anyway.
Instead of looking on what is legal/illegal, rather consider what is enforce/unenforced and copy what locals do/don't.
Trading from your laptop can be theoretically considered as working in Thailand. You would need a work permit and pay taxes on your profit/salary even if offshore. But it is never enforced nor enforceable anyway.
that would be about the very first thing being clarified in asia 😉. Its a key feature in asia to selectively enforce stuff against people who stick out while letting everyone else do their thing.
the best advice. Asia has its own ruleset of handling "law" and its far from how the western world handles "law".
It can be best noticed on what you can and cannot say in each area.
Because the company is managed from Thailand, in theory, you're liable for the CT.
If you hire a director from another country, then it's not managed from Thailand; just don't remit the money to Thailand if you're a tax resident, then it's a completely legal tax-free structure.
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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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NGL, I've come to the conclusion (based on personal experiences) that every country is like this to some extent. stupi#21
It highly depends on what business you're in and where your customers are, but one of the best places is the US. (It might not work for you. I need more information to give you advice).
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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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