Retired living on social security income in Chiang mai

Question

Sir, I looked onto the tax chart where my income is at, 20%. I have a retirement OA visa that cannot earn any income while in Thailand. All my sources of income comes from SSI and a small annuity. I wire transfer money into a USD account and then do a transfer into a Thai account each month to show immigration my minimun income is above 800,000 baht per year. Looking at that tax chart of 20%, do I have to pay 192,000 baht per year for tax?

AD Legal Firm · Accepted Answer

Orders Nos. Por. 161 and Por. 162 of the Revenue Department, issued under Section 41, Paragraph 2 of the Revenue Code, stipulate that individuals required to pay tax based on overseas income are defined as follows: An individual who earns income from overseas starting from January 1, 2024, and resides in Thailand for at least 180 days within the tax year; and An individual who earns income and transfers such income into Thailand within the same fiscal tax year or subsequently. Result: If this is the case, the income transferred into Thailand will be subject to personal income tax in Thailand in the year the transfer occurs.

Retired living on social security income in Chiang mai

Risposte degli avvocati

AD Legal Firm

Hai bisogno di assistenza legale personale?

Esperti legali correlati