Thailand: Deloitte International Tax Source Online Tax Rate Database, including information on withholding tax, tax treaties and transfer pricing. For example, when a Singapore company owns shares in a Thai company and receives dividends, the Singapore-based company should pay dividend taxes in Singapore, but receives a credit for the 10% withholding tax paid to Thailand. If the Singapore company owns no less than 25% of the Thai company, the credit includes income taxes paid by the Thai company in addition to the taxes paid on the dividend. In any case, the credit should not exceed the Singapore tax rate, i.e.: You might not get a higher credit than what you owe in Singapore on your Thai income. Athletes and artists who are supported by a public body These individuals are generally exempt from taxation in the country where they perform if their income comes from a public institution in their home country. In other cases, the rules for athletes and artists are the opposite of the rule applicable to other temporary workers. Athletes and artists are taxed in the country where they work, even temporarily, regardless of where they are paid, provided they are paid by private sources. It is essential to determine whether this is possible and how a double taxation agreement should be applied, given that it is the country of residence that generally pays tax duties. Since there are many rules and complications that can arise when applying double taxation agreements, it is important to seek professional help from a qualified and experienced accountant.
Nationality Requirements In general, the nationality of the subject is not important for determining tax benefits under a tax treaty. Foreigners who have paid taxes in a tax country can generally benefit from the benefits of the contract, regardless of their nationality. We contain a collection of global double taxation conventions in English (and other languages, if available) to assist members in their applications. If you`re having trouble finding a contract, call the application team on (0)20 7920 8620 or email us at library@icaew.com. Inheritance Tax As mentioned in Chapter 15 Other taxes, Thailand came into force for the first time on February 1, 2016, inheritance tax.