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asiabreastman
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I am a US citizen who has lived in Asia for 10 years now. I currently work for a multi-national company travelling throughout Asia but I hope to move to Bangkok and retire in a few years.
For those members who have set up a business in Thailand and retired, how do you deal with paying taxes in the USA and Thailand (legally)? Currently my company pays for my foreign taxes and I only have to pay a hypothetical tax in the USA. Have any of you given up your foreign nationalism and become Thai citizens and only pay Thai taxes?
Get a good tax lawyer?
Comments please.
Thanks!
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Thai Girls : Meet Sexy Thai Girls
Posted on: 3:14 am on Sep. 8, 2002
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chateaujade
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If you expect to move to Thailand while still working for same company then they will get you your work permit and take care of your withholdings etc.
The income taxes you pay in Thailand are US-deductible because there is a dual-taxation treaty between Thailand and USA. You do not get taxed twice on same money. You do, though, have to file in both countries.
If you plan on starting your own business here then you do need a good tax lawyer, probably in both countries as the US has all that nasty Foreign Controlled Corporation schedule H stuff that must be filed if you are an officer, director, or more than 9% shareholder in a corporation outside of the USA, or if your wife is, etc etc, with very nasty penalties if you do not file.
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 5:04 am on Sep. 8, 2002
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