Best Tax Lawyers in Thung Khru
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List of the best lawyers in Thung Khru, Thailand
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Thailand Tax Legal Questions answered by Lawyers
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- I am Swiss National received Social Securety from the USA year 2024 make arround 750.000Bath year . I single , leave in Rented Apartment 13 Years the moment.
- If you are receiving U.S. Social Security benefits while living abroad, here are key points to consider regarding taxes and residency:U.S. Taxes – As a U.S. income recipient, you may still owe U.S. taxes on your Social Security payments, depending on total income.Thailand Taxes – Thailand generally does not tax foreign income if it is not remitted in the same year you earn it.Residency Status – If you’ve lived in Thailand for 13 years, you may qualify for long-term residency options or consider applying for the Thailand Elite Visa for easier stay extensions.Tax Treaties – Check if there’s a tax treaty between Switzerland and the U.S. to avoid double taxation.
- Retired living on social security income in Chiang mai
- 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; andAn 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.Should you need more clarification, please feel free to contact us at [email protected]
- about the new tax law for foreigners
- It is important to note that in Thailand, individuals who are considered tax residents (i.e., those who have resided in Thailand for 180 days or more) are eligible to receive a tax credit for the amount of tax already paid overseas. This is made possible through the Double Taxation Treaty that Thailand has entered into with other countries. As such, double taxation does not apply to tax residents in Thailand. For more information, please contact our firm at [email protected]. Thanks.
About Tax Law in Thung Khru, Thailand
Thung Khru, a subdistrict of Bangkok, is subject to the tax laws and regulations applicable throughout Thailand. Tax law in Thung Khru covers a range of fiscal responsibilities for individuals and businesses, including income tax, value-added tax (VAT), property tax, and various local taxes. The Thai Revenue Department administers the majority of tax collection and compliance, while certain local taxes fall under the purview of the Thung Khru District Office. Both residents and non-residents engaging in economic activities in Thung Khru must adhere to Thai tax laws.
Why You May Need a Lawyer
Seeking guidance from a tax lawyer in Thung Khru can prove invaluable in multiple scenarios. Common situations where legal help is essential include:
- Complying with complex filing requirements for personal or corporate income tax
- Disputing tax assessments or audits issued by the Revenue Department
- Understanding eligibility for tax exemptions, deductions, or incentives
- Setting up a new business and choosing the optimal tax structure
- Handling payroll tax obligations and social security payments for employees
- Navigating property tax when buying, selling, or inheriting real estate
- Assisting with double taxation issues for foreigners or cross-border businesses
- Minimizing legal risks and penalties related to non-compliance or late payments
A qualified lawyer offers clarity, mitigates risks, and helps ensure you meet all legal obligations.
Local Laws Overview
In Thung Khru, the following aspects of Thai and local taxation are particularly noteworthy:
- Income Tax - Residents and certain non-residents must file annual tax returns and pay tax on worldwide or Thailand-sourced income according to progressive rates set by the national government.
- Value Added Tax (VAT) - Businesses with annual turnover exceeding a specified threshold must register for VAT and remit taxes on sales of goods and services.
- Withholding Tax - Employers and businesses are required to withhold tax on payments like salaries, dividends, and service fees.
- Property and Land Tax - Owners of land or buildings in Thung Khru are subject to the Land and Building Tax, assessed annually based on property value.
- Local Development Tax - The district office may levy additional local taxes for certain types of properties or business activities.
- Tax Invoices and Bookkeeping - Businesses must maintain accurate records, issue tax invoices, and submit accounts as demanded by law.
- Penalties - Penalties apply for late filing, underpayment, or non-compliance with Thai tax laws.
Frequently Asked Questions
What is the personal income tax rate in Thailand?
Personal income tax rates in Thailand are progressive, with rates ranging from 5 percent to 35 percent depending on total annual income. Non-residents pay tax only on income earned within Thailand.
When are tax returns due in Thung Khru?
Generally, annual personal income tax returns must be filed by the end of March each year for the preceding fiscal year. Corporate and VAT filing deadlines vary; consult with a local legal expert.
Does everyone need to file a tax return?
Residents earning above a minimum threshold or those receiving income from business, rental, or certain investments in Thailand are required to file tax returns. Consult a professional to determine your obligations.
How is property taxed in Thung Khru?
Property owners must pay the Land and Building Tax, which is calculated based on the purpose and appraised value of the property. The Thung Khru District Office oversees local assessments and collections.
What are common tax deductions for individuals?
Common personal deductions include contributions to social security, life insurance premiums, charitable donations, and certain educational, healthcare, or housing expenses, subject to limits set by law.
Is VAT applicable to all businesses?
Businesses with annual sales exceeding the VAT registration threshold (currently 1.8 million baht) are required to register for VAT. Certain activities such as medical services and education are exempt.
What if I receive a tax assessment or penalty I disagree with?
You have the right to appeal tax assessments or penalties. A tax lawyer can assist you in preparing and submitting appeals to the Revenue Department and representing you in subsequent disputes.
Are there special tax incentives for investors or SMEs?
Yes, Thailand offers several incentives through the Board of Investment (BOI) and other schemes, such as tax holidays or reduced rates for certain sectors. Legal advice can help maximize eligibility.
How is tax compliance enforced in Thung Khru?
The Revenue Department conducts audits and investigations where there are concerns about underpayment or evasion. Non-compliance can lead to fines, penalties, or legal proceedings.
Can foreigners own property and how are they taxed?
Foreigners face restrictions on land ownership but can own condominiums under specific conditions. Taxes are applicable at the same rates as for Thais and include income tax on rental income and property taxes.
Additional Resources
For further guidance and support, consider these reputable resources and authorities:
- The Revenue Department of Thailand - Handles all matters related to tax registration, filing, and disputes
- Thung Khru District Office - Responsible for local taxes and property tax management within the district
- Ministry of Finance - Publishes updates, laws, and regulations on national tax policy
- Board of Investment (BOI) - Offers information on tax incentives for new businesses and investors
- Certified local law firms - Provide tailored advice on tax planning, compliance, and dispute resolution
Next Steps
If you need legal assistance on tax matters in Thung Khru, start by gathering all relevant financial records and correspondence from tax authorities. Identify your main concerns or questions, such as filing deadlines, pending assessments, or business tax planning. Reach out to a qualified tax lawyer or law firm in the area for a consultation. They can review your situation, clarify your legal obligations, and represent you in dealings with the Revenue Department or local authorities. Proactive legal advice ensures compliance, reduces risk, and often saves money in the long term.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.