Video 2021 TAXES in Thailand? Do RETIRED & DIGITAL Nomads have to pay? | Baan Smile

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Today we are going to talk about paying Taxes in Thailand.

Did you know that if you make money in Thailand you have to pay taxes? And in certain cases you might even have to pay taxes on money that you make in another country then bring into Thailand too.

This video will tell you what you need to know so you don’t run into problems while you’re here.

So I am going to talk about taxes as it applies to:
* People who have a job in Thailand
* Digital Nomads
* Retirees
* Business owners
* The “Farang Tax”

TAXES FOR DIGITAL NOMADS
For digital nomads, this can be a little more complicated.

If you are in Thailand for 6 months or more, then you are required to pay income taxes on the money you bring into Thailand. Because you are considered a resident -- for tax purposes.

This means if you work in your condo or a coffee shop on your laptop and you make 3,000 US Dollars every month, you have to pay taxes on the portion of that that you bring into Thailand.

However, chances are, Thailand has a double tax treaty with your home country and so, its a good idea to hire a local accountant here to help you sort out local taxes and an accountant in your home country to sort it out there too so you don’t pay taxes twice on the same income.

Thailand has a double tax treaty with almost every single country, so this is not a problem.

If you need help to find an accountant in Thailand, please contact us at baansmile.com

Before the pandemic, it was easy for Digital Nomads to leave Thailand and return so for most people the 6 month residency problem was not a problem. Every time you entered Thailand the count of days would be restarted.

However, now that many Digital Nomads have been in Thailand for quite a long time with all the Covid Visa Extensions that have been happening, its not a bad idea to talk to an accountant and make sure that what you are doing is ok.

Being a digital nomad was always a bit of a gray area in Thailand.

But there have been some talk recently about a proper digital nomad visa, so if that happens it would make everything a lot more clearer.

TAXES FOR RETIREES
For those people who are retired in Thailand and have some kind fo pension, legally, you have to pay some taxes.

In practice however, the Thai government at this time does not enforce this and almost never collects this tax.

Some people have tried to pay the tax, but their money has been refused.

We think that if the government decided to enforce this law, there would be a lot of anger from the retirement community here in Thailand so for the time being they do not collect this tax.

This does not mean in the future they will not though.

Just like the proposed digital nomad visa, there is also talk about a better retirement visa. And maybe at that time they will make the rules about retirees paying taxes more clearer.

But for now -- you are in the clear!

THE EXPAT DEN
https://www.expatden.com/thailand/thailand-income-tax-for-foreigners/

THAI REVENUE DEPARTMENT
https://www.rd.go.th/english/6045.html

THAILAND TAX GUIDE
https://www.tilleke.com/wp-content/uploads/2011/05/Thailand-Tax-Guide.pdf

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