If you are considered a tax resident in two or more countries, it is important to understand the possible tax breaks through double taxation treaties Double taxation treaties can be complex and often require professional support, but they are created to ensure that a person can benefit from tax breaks instead of having to pay taxes on the same income in two different jurisdictions. the Government of the Kingdom of Thailand and the Government of the United Kingdom of Great Britain and Northern Ireland; Desiring to conclude a Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, 1 In this Convention, « United Kingdom » means Great Britain and Northern Ireland, including all areas outside the territorial sea of the United Kingdom, designated as an area under international law under united Kingdom law on the continental shelf or subsequently designated. be able to exercise the rights of the United Kingdom in respect of the seabed and subsoil and their natural resources; Inheritance tax As noted in Chapter 15 Other Taxes, Thailand entered into force for the first time on 1 February 2016. Thailand`s double taxation treaties do not address or mention inheritance tax. As a result, the question arises whether inheritance tax is paid under Thai tax law and whether the deceased owns assets in another country subject to inheritance and inheritance tax, or vice versa, whether the payment of inheritance tax in the first country is charged to the IHT invoice in the second country. List of countries Thailand has tax agreements with the following countries that have entered into force or will enter into force on 1 January of the tax year indicated below: for example, payments to a UK company not established or taxable in the UK are not allowed. Similarly, payments to a Hong Kong company`s Singapore bank account are not eligible for the benefits of the Thai and Singapore tax treaty simply because the money is sent to Singapore, as this factor alone would not tax the Hong Kong company in Singapore. We have a collection of global double taxation treaties in English (and other languages, if available) to help members ask questions. If you are having trouble finding a contract, please call the application team on +44 (0) 20 7920 8620 or email us at firstname.lastname@example.org.
Tax Conseil Online An online pricing tool created by KPMG that compares the tax rates of companies, indirect, individual income and social insurance within a country or in several countries. . . .