A new income tax treaty was signed between India & Thailand on the ninth of June 2015, which came into force on the thirteenth of October 2015 & this has taken place for the avoidance of double taxation & prevention of fiscal evasion concerning taxes on income.
The treaty is effective from the first of April 2016 in India and from the first of January 2016 in Thailand. When the new tax treaty provisions become effective, the 1985 income tax treaty between the two countries will cease.
Which taxes are covered in this treaty?
The treaty covers Indian income tax, including any surcharges, and covers Thai income tax & petroleum income tax.
Will this convention apply to non-residents living in these countries?
No, the convention shall apply to residents of one or both countries.
Can the treaty be terminated?
The convention can be terminated. However, it shall remain in force indefinitely unless either of the contracting states gives the other state, through diplomatic channels, written notice of termination on or before the thirtieth of June of each year after it entered into force five years ago. In case of termination of the convention, it shall cease to affect —
Is student relief from tax of other contracting states?
Any student or business apprentice who is or was a resident of another Contracting State immediately before visiting a Contracting State and who is in the first-mentioned Contracting State solely for education or training is exempt from tax in the first-mentioned Contracting State on-
What shall be the provision for taxation of director fees?
At AJSH, we assist our clients with various income tax compliances, including income tax assessments, ITR filings, tax advisory, TDS matters other related services by providing them adequate support and guidance from our end. If you have any questions or wish to know more about Tax treaty between India and Thailand, kindly contact us.