Thai Personal Income Tax on Dividends
According to the Revenue Department, a taxpayer who resides in Thailand and receives dividends from a juristic company or partnership registered in Thailand is entitled to a tax credit of 3/7 of the amount of dividends received. In computing his assessable income, the taxpayer should gross up his dividends by the amount of the tax credit received. The amount of tax credit is creditable against his personal income tax liability of the same year.
Moreover, a taxpayer who resides in Thailand and receives dividends or shares of profits from a Thai registered company or a mutual fund whose tax has been withheld at source at the rate of 10% may choose to exclude such dividends from his assessable income when calculating his Personal Income Tax. However, in doing so, the taxpayer will be unable to claim any refund or credit as explained in the above paragraph.
Thai personal income tax returns must be filed within 31st March of the year following the year in which the income was received. Contact MSNA for computation and filing of your PIT returns before the due date and further consultation on Thai taxation.
Can a Foreign Lawyer Work in Thailand?
There are certain occupations that are prohibited to non-Thai nationals as prescribed by the Ministry of Labour. If you are a professional lawyer in your home country and would like to practice your profession in Thailand, you should be aware that foreigners are prohibited to work and provide services in legal counselling, litigation and others such as representing as a lawyer in all types of cases, acting on behalf of clients in legal matters, drafting contracts or making legal documents.
However, there are some exceptions depending on the situation. Foreign lawyers can be allowed for the following works:
- To perform duties of an arbitrator in an arbitration case;
- To provide assistance or representation in the arbitral proceedings in the event that the law applicable to the dispute being considered by the judge is not Thai law. This includes the following:
- Liaison for cases, research, compile and provide opinion on facts and legal issues to the arbitral tribunal or the parties;
- Notetaking during the hearing using shorthand or other techniques in the same manner;
- Presentation of opinions as an expert
- Works involving special technology used in recording sound, images and evidence produced in the hearing
Know more about your options when applying for a ThailandWorkPermit. Contact us for expert advice of English-speaking Thai Lawyers.