chiang mai

Try this. The rules surrounding the assessability of credit card (CC) transactions, using foreign bank cards, are not that different from those concerning overseas debit cards and ATM transactions, or even cash for that matter. The CC is merely the transport mechanism for the funds which varies by type, cash, ATM, TT etc. In all cases: 1 - the person must be Thai tax resident 2 - the transaction must benefit the cardholder for personal income tax rules to apply (as opposed to any Gift Tax aspect). 3 - the merchant/payee must be based in Thailand, unless overseas goods or services are acquired that are shipped to or have their end point in Thailand. 4 - the funds used (to pay the bill) must be Thai assessable and not exempt Where the rules may diverge is if a credit card liability is converted to another form of loan. A credit card transaction is variable limit, revolving credit agreement whereas personal loans are fixed and for a specific purpose, typically of a fixed duration. But that aspect is downstream and not really part of the today discussion about credit card transactions. Also, I think the fact the purchase is made using revolving credit is a red herring. Subject to the above rules, the contract is formed in Thailand, there is offer, acceptance and consideration in Thailand, the merchant is paid here and the CC card holder receives delivery of their product or services here. This differs significantly from a foreign bank loan, to say purchase a condominium in Thailand where there is a fixed loan agreement and the purchase is for a specific item and there is a dedicated loan agreement. Some Examples A Thai tax resident uses his UK bank CC to buy a sports car which is then shipped to Thailand. Depending on the nature of the funds used to pay the CC bill, the funds used to make the purchase may be assessable to Thai tax. A Thai tax resident uses his foreign CC to pay his rent in Thailand every month. Depending on the nature of the etc etc etc (as above). A Thai tax resident uses his foreign CC to purchase an overseas package holiday, via a Thai based travel agent. Depending on.... (as above) Same as above but the travel agent is located in the UK. Those funds are never remitted to Thailand so cannot be regarded as Thai tax assessable. A Thai tax resident uses his foreign CC to purchase a Gift from overseas, for his Thai resident spouse. which is then shipped directly to his partner here. The present can be considered under Thai Gift Tax rules which means the partner has no potential tax liability. But the purchaser of the Gift still needs to consider the nature of the funds used to pay the CC bill. If they are Thai tax assessable, he is liable to tax on that purchase, in the same way that he would had he remitted assessable income to his spouse. Same as above but the overseas spouse is now just an overseas "anyone" and the gift, purchased overseas, is shipped directly to them overseas. Neither the gift nor any funds are remitted directly to Thailand plus there is no personal consideration, ergo, the cost of the gift is neither tax assessable in Thailand nor applicable under Thai Gift Tax rules.

The forecast is for the Baht to lose value against USD between now and year end, I don't know how that maps onto NZ because I don't know how NZ moves or why.,

Apart from the climate, the people, the affordability and the food.... No nanny state telling me what I can and cannot put in the trash and how much they will fine me if I don't obey. No unaffordable utility bills at times of the year when heating is needed to survive. No bureaucratic process to see a doctor and even then you'd better be done in under ten minutes. No searching the country far and wide to find a dentist that will take me for treatment. No living near chavs who live off benefits and have never worked a day in their lives yet still want more for free. No living in a culture that pretends to respect and like older people yet really wishes they didn't exist and treats them that way too. No receiving a penalty notice and fine because I put the wrong trash in the wrong bin. I could go on forever with these things.

For me at least, the legality is clear, a credit card transaction is legally capable of being regarded as assessable income. The issue of whether TRD would actively pursue that or not seems like a pointless debate because it must depend on the amounts and the frequency. A one off charge to buy plane tickets for mum and dad gets a check and pas. A daily charge in tens of thousands of baht gets serious scrutiny......and everything inbetween,

I deny being Santa Claus too. 🙂

And you know what, its always the same three or four people, you and three others, the rest of the membership is silent, why is that?

Well Mr Holmes, I must admit to not knowing those similarities but it doesn't change the answer or the reality.....I note you didn't deny your ring leader role in all of this You seem to have done a lot of research, perhaps that's why I saw your name in my profile visitors list,e verytime I looked at it, my question is why are you more concerned about individual members than you are about the topic.... there's no question mark because I don't need to know why, it just seems very strange. But bullying? That's exactly what you have been doing and are doing now, you've created your own set of rules and you've whipped support for them. Rule 1 - A member is who he we say he is, there will be no exceptions. Rule 2 - Members who disagree with zrule 1 will be hounded, ridiculed, baited et al, until they confess. If only you could see yourself. Edit, oh wait, I recall lister worked for Deloitte, I didn't.

I stopped posting/visiting the forum in 2017 for personal reasons, I returned because the tax issue interested me. Interesting that Gant. a committee of one, suggests I now change my name and my posting style and return (now deleted post). Is that what people have to do these days on social media when one member becomes "irritated" by an other and thinks they are somebody else so decides to bully the other person out of using the forum! Once again, I have had this name since 2006, I have never held multiple accounts and I am not Mike Lister. But of course you guys will not admit to that being true because you've taken it so far now, do you feel good also since you were the first person to start this stupid game.!

I have only ever had one account, I’ve had this one since 2006.

The trolling by you three has been going on for months and is getting real old, real fast, it takes any enjoyment out of trying to participate and help folks with tax questions. You're having too much fun to quit or to leave so I guess the only way to escape it and preserve the discussion on tax is for me to go, which appears to be what you want. The last time I quit the forum was about seven years ago, because of trolls and idiots, it seems that some things here never change. I hope you feel proud of your achievements.

A useful graphic that explains the different Baht export scenarios and the associated approvals required. https://bangkok.diplo.de/blob/2315914/6ad009567cf7d9816b4ed0088ee6fc0d/taking-thai-and-foreign-currencies-in-or-out-of-thailand-data.pdf

As much as you might want to talk about other aspects of tax, the one being discussed in which you posted a reply, was about the assessability of credit card transactions, no more, no less. If you don't have any constructive comments, pertinent to the current topic, you should refrain from commenting.

Exactly, the actual rate that was used.

Because occasionally there's an opportunity to help some members by answering their questions, something you and your gang don't seem to do much of at all, I wonder why that is!

So the expat remitted 50,000 Pounds to Thailand in July that year. In the following January he filed a tax return that reflected 50k Pounds of assessable income, converted to THB by the bank as it was received, at a rate of 43 baht per Pound. Oh no says the TRD, you can't use the actual exchange rate, you have to use the year end rate which is an average blah blah blah. Really? I mean really? https://www.rd.go.th/fileadmin/user_upload/kormor/eng/NOOF_Exchange_Rate.pdf

Go bait somebody who is interested, I am not.

There is no AN member called ChinagMai, just like there's no sensible discussion on tax in this thread, only continual baiting..

Well, everyone else gets the difference between high level process and low level detail, too bad you don't.

Relax, everyone is in the same boat, be patient and wait and see what transpires next month.

Proof that it is not please

You cannot take more than specific low limits of Baht out of Thailand, even if declared to Customs, BOT approval is required beforehand. " If a person wants to take Thai currency out of the Kingdom of more value than the legal requirement, there must be a permission from the Bank of Thailand, and the evidence of permission from the Bank of Thailand must be presented to the customs officer at the international airport when leaving the country". https://www.thailand.go.th/issue-focus-detail/009-010 https://www.bot.or.th/content/dam/bot/documents/en/our-roles/financial-markets/foreign-exchange-regulations/laws-and-regulations/E_BOTControl32_conso_Unofficial.pdf See Part I, Clause 3. https://www.bot.or.th/content/dam/bot/fipcs/documents/FOG/2547/EngPDF/25471507.pdf

The rules on savings interest WHT vary based on the bank and the savings product, the rules are shown in the link below: https://sherrings.com/interest-income-personal-tax-thailand.html

I believe gross for both and then show separately the tax already paid. Your bank letter will show the right gross amount s

Failure to file when a refund of tax on interest is due, forfeit s the refund and no return is required, as long as that is the only source of income

The rate used when the funds were received or exchanged by the bank.