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Home » Reader question » Reader question: Paying tax on exchange rate gains

Reader question: Paying tax on exchange rate gains

By Submitted Message
Posted in Reader question
Tags: tax, Price gains

November 12 2016

Dear readers,

What if you have been deregistered from the Netherlands and therefore live permanently in Thailand and are liable to pay tax, but you do not yet receive an old-age pension or something similar, but you live on your assets?

According to the tax file, there is no question of income, therefore no tax. But what if that capital consists of shares listed on the stock exchange in Europe?

Suppose you sell a few shares every year and transfer that money to Thailand to live on. Is any realized exchange rate gain on sale untaxed? Or do you have to pay tax on it in Thailand? (We are not talking about stock trading, but about a stock portfolio as an old age provision).

And if you have to pay tax on it, how do you calculate the realized exchange rate gain? Do you assume the average historical cost price? Or do you assume the stock market value at the time of emigration? You have already paid tax in the Netherlands on part of the value in box 3.

Thanks in advance for an explanation on this.

Yours faithfully,

Ton

Number of times read: 199

3 responses to “Reader question: Paying tax on exchange rate gains”

grain says up

12 November 2016 at 11: 19

Hello, Can you also explain to me how the Thai tax authorities know that you are selling a (few) share? You transfer
simply the proceeds in installments from a Dutch bank account (not ABN) to your Thai account with description payment house. Done is done unless you no longer have a Dutch account. You can use mine...

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Keith 2 says up

12 November 2016 at 11: 29

I understand from this article (http://www.rd.go.th/publish/6045.0.html) that you only have to pay tax on dividends, but not if withholding tax of at least (?) 10%) has already been withheld, and that happens in the Netherlands (15%).

Tax on exchange rate profit is not included (then exchange rate loss would be deductible; this is the case in the USA, for example)

Dividends
Taxpayer who resides in Thailand and receives dividends or shares of profits from a registered company or a mutual fund which tax has been withheld at source at the rate of 10 per cent, may opt to exclude such dividend from the assessable income when calculating PIT. However, in doing so, taxpayers will be unable to claim any refund or credit as mentioned in 2.4.

You may have deductions (see article, at least 30.000) and anyway, the first 150.000 baht of what remains will not be taxed.

But I cautiously conclude (of course I exchange my opinion for a better one): no tax on capital gains and because you pay dividend tax in NL, you don't have to pay tax on dividend in TH either.

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Marcus says up

12 November 2016 at 12: 31

A question, how do you get out of the 25% Dutch withholding tax on dividend? With the just left, all bank accounts external

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Reader question: Paying tax on exchange rate gains

3 responses to “Reader question: Paying tax on exchange rate gains”

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