UK investors to get Thailand tax boost

A treaty to eliminate British investors in Thailand incurring double taxation of income and capital gains arising in one country and paid to residents of another has been signed.

HM Revenues & Customs announced the new Double Taxation Treaty (DTT) between the United Kingdom and Thailand will commence on March 31st 2009.

The new taxation treaty will aid investors with more stability in their tax affairs.

The news is particularly good for international second home property developers and their clients - once these new agreements are in place investors will be able to sell their property in one country and repatriate the profits to their home nation, whilst not having to pay any more than the maximum amount of capital gains tax in any one of the countries.

The Netherlands, Libya and Ethiopia will join Thailand in becoming the latest countries to sign up to bilateral taxation conventions.

 

Source: Property Report