chiang mai

No, there have been no such reports.

"interest income data is only sent to the TRD for those who have already registered a TIN at their bank and are trying to reclaim the interest WHT". That is not correct. I obtained my TIN around 2012 and received refunds most years thereafter, until rates dipped so low that I moved my funds into other things. The first time I gave my banks my TIN was two or three years ago, certainly no more. The reason I did that was to not have tax deducted from the first 20k of interest. So for at least a decade, my banks were providing TRD with my account and tax paid details I mentioned earlier. It can't possibly be that banks only send interest/tax data to TRD, for those people who have registered their TIN at the banks. Many people will not have a TIN but they will have savings interest income that is taxed and will request a refund from TRD at year end. Many of those people appear not to have applied for a TIN but may have had one assigned by TRD, as a part of the refund process but they may not realise this. As I understand it. TRD has some sort of short form that allows that refund to be applied for and paid but many people don't understand that to be a tax return in the traditional sense. EDIT TO ADD: Given the scenario you've set out, it's difficult to imagine what banks actually do with the 15% WHT taken from people who haven't provided a TIN to the bank. Do they just keep it or do they write a check and say here's a lump sum, without any associated account or customer details? I very very seriously don't think so.

I can't remember how many years I've been reclaiming WHT on interest from Thai banks but it's certainly goes back to at least 2012. The process for doing that was to obtain a letter from the bank, setting out the account holder details and ID, along with gross, net and tax paid amounts. The TRD office would complete the relevant parts of the tax return which I would sign, three week a later I'd receive a cheque or a deposit. Over the years since, TRD has automated the electronic interface so they are able to confirm the contents of the letter, via their system, in real time. Previously, that was verified centrally, or so I was led to believe. Electronic interface and automated or not, banks have been sending account details of people who had tax withheld, for at least a decade.

CIMB Thai is a Thai bank whose shares are majority owned by the parent Malay bank. It's a solid bank but they offer products that they will only make available to Thai people. regardless of how much money you have on deposits with them. That was why I moved from CIMB to UOB.

For many years, people have been putting their money into banks here and have been paid interest. For many years, that interest has been subject to a 15% WHT which the banks have forwarded to the TRD. The 15% WHT that has been forwarded to TRD, has been accompanied by, at a minimum, the account holder name, ID card number/passport number and DOB. I know the latter to be true because those bank supplied details have always been in the TRD system (for as long as I can remember), whenever I have filed income tax and have seen the bank interest payments screen.

There was, for the longest time, a notice at the top of the thread that clearly stated that the thread contained only individual opinions. That should hardly be necessary and should go without saying because the forum rules clearly say that factual statements in threads such as this, must be supported by a supportive link. Rule 5 says: "In factual areas such as news forums and current affairs topics member content that is claimed or portrayed as a fact should be supported by a link to a relevant reputable source". https://aseannow.com/forum_rules/ That means that everything that is written in the thread is opinion, unless there is a supportive link, does that really come as any surprise to anyone! So what's the beef? If people don't like somebody's opinion, disagree with it, isn't that what people are supposed to do here! And if people can't separate the fact from the opinion, based on the links provided, perhaps they are over their heads trying to participate here and shouldn't. If somebody wants to challenge statements that I portray as fact, read the link provided. If there's no link, it must be opinion, if you don't like it or have a different one, say so (if you want) or else ignore it. I'm going to make some assumptions from time to time that the simple obvious things in life are accepted as fact, without having to provide links but if somebody feels the need to see one (and I know some of you will do this relentlessly) feel free to ask for one. This is pretty basic modus operandi. don't you think!!!

I'm perfectly happy with others expressing their opinions, collaboration and exchange is what this is all about. BUT what it's not all about is being pursued seven days a week by a tag team on shifts, all trying to attack from any angle they can see an opening and NOT ONE OF THEM providing any useful constructive material or assistance by way of input. How many months has this been going on now, just ask yourself that.

I've started a number of prominent threads over the years, Doctors and Medical Specialists in Chiang Mai was one that was very successful. I also started the first Bank Interest Rate thread which I'm pleased to see has had several successor and the 2023 version is still running. I've learned over the years that trying to build something useful on TVF or its successor means having to tolerate a lot of trolls and idiots, usually people who have never constructed anything useful to help others anywhere. And so it continues.

This one is interesting and contains shades of some of the things being discussed in Thailand. https://www.straitstimes.com/business/economy/china-moves-to-tax-ultra-rich-for-overseas-investment-gains

Negative income tax in the news again. https://www.bangkokpost.com/business/general/2883792/minister-urges-tax-system-reshuffle

Both of you are referring to CRS and money laundering rules under AMLO which has nothing to do with banks reporting details of accounts to TRD, from which they withheld the statutory 15% WHT on any interest earned. The latter already happens and has been happening for many many years.

If you say so. It just seems hard to imagine that after one year of constant media coverage, almost everyone in the country knows about this tax change but the Head Office of the TRD doesn't But hey, I really don't care so don't get excited.

Indeed, truly shocking is it not! You'll all need to find a new lightening rod to keep you entertained.

https://www.bangkokpost.com/business/general/2881788/state-revenue-collection-on-course-to-hit-target

See yet again, you don't stop do you, you just don't know when to quit! Anyone who read through the first and second long tax threads could see the way you guys played your games, almost from the very start....the posts are still there for everyone to see, the same bullying and baiting tactics by the same people..

It has long been said that further guidance would come with the release of the new tax forms and associated instructions, at the end of the year, everyone just needs to be patient and wait for that.

No it wasn't that, it was simply my position statement on all of this because I've gad enough of you guys, probably the same way that Lister did also when he left.

I was trying to imagine an alternate case scenario whereby TRD decided to suspend Por 161 and effectively revert to the previous interpretation of the remittance rule. This would mean income earned overseas could be seasoned offshore until the following tax year and then remitted to Thailand free of tax. Why might that happen? Perhaps TRD might prefer to wait until the worldwide income law was passed and then do a single implementation of the new law. To be clear, I have no reason to think TRD might do this, more I was brainstorming alternate scenarios. But let's say they went down that road, what would be the impact? There would of course be a collective sigh of relief and lots of "I told you so" but there would also be quite a few new tax filers next January, especially those who have income remitted to Thailand each month in order to qualify for their visa. So for some there would be a temporary escape, others would continue down this same road we're on currently because the need to file tax returns here has risen dramatically in the past year. The bottom line is that even if nothing further happens with the new laws, TRD and tax collection will be further ahead.

Well, either behaviours change for the better and the sniping/attacks/baiting/stalking ends, permanently or one of us goes and I have zero problem if that's me.

News about the new tax regulations has been circulating conspicuously for over a year. In that year there have been numerous news articles, seminars, official documents and videos explaining what is involved, including reporting of statements made by the head of the TRD in Bangkok. There have also been many first hand reports of interactions with TRD and their responses to different questions, many of which have reaffirmed what is commonly understood by many on this forum. Bearing in mind this is Thailand, where natives will almost certainly give a wrong answer before giving no answer, or saying “I don’t know”. And where answers given in remote local tax offices will almost certainly differ with those given in Bangkok, I find it very difficult to believe that, given the above, two regional tax offices and two separate contacts with TRD Head Office, all yielded, “I don’t know anything about this new tax issue”, answers. I have asked the poster for clarification regarding which offices etc but have not received any answers.

I'm very happy with my opinions and statements being challenged but not suicessive posts by the same three or four posters every day and every night, for many months at a time and you Gant know exactly why that is. So don't try and play the innocent white night card because the trail of deleted posts tell a different story. If the three or four of you were to contribute useful content to help stimulate the conversation and inform members, or provide constructive support for posters seeking help, it might be a different matter, but you don't, all you are able to do is attack anything I contribute.

Complaint raised.

Grown up intelligent people are able to view the two things as being separate and different, the first refuting an untrue statement by a member, the second demonstrating BOT's and TRD data reach and data sharing capabilities, but not mentioning credit card suppliers specifically. If you want to conclude what you have, that's on you, I haven't insinuated anything. Given you history and track record, you need to stop stalking me and challenging everything I have to say on the subject of tax or I will raise a formal complaint.

I didn't ask you if you could evade Capital Gains tax, I asked you if you have a link from the Revenue Department stating that Capital Gains is not due. Do you?

Can you provide a link to the Revenue proving that gold sales are not subject to Capital Gains in Thailand?