JohnnyBD

I am a little disappointed in SCB. I can't do any online banking with them anymore. I have only a joint THB acct and USD acct, and they only allow me to see my USD acct. I have to go into bank to convert to THB acct. They will not put my joint acct on the app. I had a THB acct, but didn't need it so I closed it. Too many accts to keep track of and report to US gov't.

For SCB, you can use their app to request a monthly statement, and they send it to your email in pdf format. You select more services, and it gives you an option to request a statement.

It does for me! Curious or what? Let me post my full sentence that you butchered up: Also, SCB does not have internet banking anymore, but they still have the app for banking transactions. Let me clarify and make it very simple for you. SCB doesn't have web-based banking anymore, they only have the phone app-based banking. Many people use general terms like internet banking to mean web-based banking, and not phone app-based banking. Many people also say they have a retirement visa, when what they really have is an extension of their original Non-O 90-day visa. Most people know what those general terms mean, so they don't make annoying comments like your's above. And, yes taking partial sentences or paragraphs sometimes do change the meaning, just like your comment above. I hope I made it simple enough for you.

Krungsri's internet banking option to access one's account using the bank's website will be going away. The only option left will be to use Krungsri's app, same as SCB. UOB & Bangkok Bank still allow customers to use both options, the website access (without app) and using the phone app. Those are two separate options, but they both use the internet. Do you agree?

I don't know anything about Krungsri, but my apps for UOB & Kasikorn are separate from their internet banking. I'm sure that's what the OP meant. Also, SCB does not have internet banking anymore, but they still have the app for banking transactions.

Did you get a tax clearance certificate or just a receipt showing you filed and paid taxes? I haven't read about any foreigners being stopped from leaving the country. Maybe the old law requiring a tax clearance certificate was for those who actually worked in Thailand, and not really for foreigners who just remitted money from overseas.

Do you mean the 12-month statements you can apply for through the app? He's probably talking about getting a bank signed paper copy showing 12 months of transactions so he can use for his annual extension.

The tax proposal in the article you refer to only affects non-US citizens who transfer money out of the US, and it's just a proposal right now. Also, some US citizens (like me) are not required to pay taxes on monies remitted to Thailand due to their (my) income being tax-exempt.

I did a cash deposit of 40k at a Bangkok Bank ATM last week, and it took the money the first time. I also updated my bank book afterwards. No problems.

So sad... This one poster has infected every tax thread on this forum with his global taxation agenda and speculation, causing needless disagreements & discussions. His agenda will not change, so I for one, will not waste anymore of my time with this person. I wish all others would do the same, but to each his own.

No, Citibank Thailand was sold to UOB, and all my accounts were transferred over to UOB in April 2024.

Why cut my post short. I told you: If you would, please let us know as soon as global taxation becomes law in Thailand. Until then, it's just a waste of my time discussing something that may never happen. Life is just too short. What part of that don't you understand. I do not want to discuss this with you any longer as it is a waste of my time. Please let me know if it ever becomes law, otherwise you were wrong about it becoming law...

If you would, please let us know as soon as global taxation becomes law in Thailand. Until then, it's just a waste of my time discussing something that may never happen. Life is just too short.

That RSM website writeup was sourced from the Bangkok Post article on Sep 6, 2024. That was a long time ago. A lot has changed since that old writeup.

New article makes things pretty clear. https://www.pattayamail.com/latestnews/news/financial-world-expects-policy-reversal-on-taxation-of-foreign-income-repatriated-to-thailan

New article regarding this issue makes things pretty clear. Financial world expects policy reversal on taxation of foreign income repatriated to Thailand - Pattaya Mail https://www.pattayamail.com/latestnews/news/financial-world-expects-policy-reversal-on-taxation-of-foreign-income-repatriated-to-thailand

Thanks, Pretty clean article. I hope the questions answered in the article were done by someone with authority.

You may be able to open an additional acct with SDFCU since you already have one with them. Last year when I found out about the new Jan 1, 2024 rules, I opened an additional acct with Chase Bank to separate my SS (non-assessable income) from my private pension deposits, so I wouldn't mix them. I did the same with Fidelity by opening additional accts to keep my 2023 & 2024 Income separate. Worked out good for me for tracking purposes.

I have a simple solution to your hypothetical situation. Just open a new separate bank account to put your taxable IRA distributions in, then wire those new monies to Thailand. I know you're just posing a hypothetical, but there's no need to cause yourself problems by mixing new monies (not taxable in Thailand), with old monies which would be taxable under new rules if implemented.

I agree with your thoughts on the subject. No one knows for sure how all of this will unfold, but if they started requiring all tax residents to report and pay taxes on their foreign income, then I think the vacuum it would create would be much worse than the slow down on remittances they experienced this past year. Luckily, I did get the LTR-WP last year so I feel pretty good, but if things changed for the worse, I would simply stay in Thailand less than 180 days. I know a lot of expats won't have that option, so I really feel for them. Lets hope it never comes to that.

I respectfully disagree that it has always been the goal to have expats pay income taxes on their worldwide income. All the past and present rules only applys to remitted foreign income, and not one's total income earned in one's home country, or outside of Thailand. Maybe it was their goal to have Thai citizens pay taxes on income earned outside Thailand.

I agree.

As far as i know, foreigners are not required to report and pay taxes on worldwide income, only on assessable income remitted to Thailand, if it exceeds deductions, allowances and 0% tax threshold.

I would think the current rule exempting pre-2024 monies will continue to apply so those monies can continue to be remitted to Thailand tax free. It seems that the new proposal is targeting only new foreign earned monies from 2025 going forward.

I haven't seen any recent articles or announcements from the Thai gov't about taxing worldwide income of tax residents. Maybe the ww taxation idea was put on the back burner in favor of the new proposal to not tax remitted income.