Thailand 0% tax
- Thread starter yngmind
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#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, you get $0, and your government gets $0! It's back to pirating, invading, and looting, but 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! 😉
Last edited: Jul 28, 2024
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 might be considered tax resident of Thailand as I am. Clear? Thank you!!
So, what happens if you run a WORLDWIDE NOT-FOR-PROFIT organization in Thailand and you receive NO money and use your own savings to improve the not-for-profit?
What are they going to tax you in Thailand? 🙄
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? 🙄
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 to the offshore in order to provide services. So with this way, according to the other 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 so confused and asking
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.
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 ..
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
Ok.... now I understand you 100%! It truly is confusing! You are right!
The advisor can be 100% right, but the tax authority can interpret something differently, and the judge can side with the tax authority! I understand the predicament now! stupi#21
@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 any TIN (thai) number.
Thanks
Last edited: Dec 10, 2024
@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 any TIN (thai) number.
Thanks
Last edited: Dec 10, 2024
From what I recall the Withholding is also 15% for Thailand on USD interest and dividends.
Hmmm ok, and for all ETFs (listed in UK / Ireland), still no WHT ? (for dividend/interest distribution)
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)
I would switch my account to IBKR US. Maybe I'm paranoid but I don't want one of the most corrupt countries in the world having access to how much money I have plus my address when they report it through CRS.
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