chiang mai

Just a theory or WAG of course but is that because non-English speaking people don't read English language forums, perhaps?

Another tax question so another new thread, what's wrong with asking your question in any of the over twenty existing tax threads?

Poster @somebody is a real pain, he does that to lots of people......:))))

It is a fact that the banks do send that information to TRD. I only need to enter one of my bank account numbers into the TRD system and the tax and interest data from ALL my accounts appears on the screen as part of my tax records.

I'm not going to argue with you andre, if you want to have it your way then fine. You will however note that since we are now post 1 January 2024, NO income earned before that date can be remitted in the same year that it was earned. Order No. Por.162/2566, issued on November 20, 2023, provides further clarification. It states that the new interpretation should not apply to foreign-sourced income earned before January 1, 2024. This means that income derived prior to this date will be subject to the previous rule: it will only be taxed if brought into Thailand within the same tax year it was earned. This order aims to ease the transition for taxpayers planning the remittance of previously earned foreign income. https://mahanakornpartners.com/comprehensive-overview-of-order-no-por-161-2566-and-no-por-162-2566-on-personal-income-tax-for-foreign-sourced-income/

At least three posters have tried to correct your understanding of this, if you insist you are still right then feel free. The downside of course is that your interpretation will mean paying tax on income where no tax is due, if you're OK with that, have at it.

Agreed. I think it's too early to think about consulting tax "experts", I suggest waiting until later in the year when the new tax forms are released and any announcements have been made regarding the new rules etc. We'll also begin to see first hand reports in January of people who have filed tax returns and their experiences of dealing with TRD and that may provide further guidance.

I think you're having an interpretation problem, you wont find the explicit set of words you're looking for but the effect of Por 162 delivers exactly the same benefit.

That's good, but you should understand that those always were the rules. Only people who have assessable income above a low limit of 60k/120k/220k (depending on status) were/are required to obtain a TIN and file a tax return, So nothing has changed, the same rules that always were in force are still in force and no new rules have been enacted.

Not true. Banks are required to withhold tax on all interest that is paid, unless the customer supplies a copy of their TIN.

Very true, TRD knows how much interest you earned before you do!

The two main factors that determine whether something that should be done, does get done, include the effort required and the financial reward. Chasing teenagers on motorbikes in the hot sun, in order to fine them 300 baht for not wearing a helmet, doesn't compare to sitting behind a desk in an airconditioned office, looking at a computer printout of bank deposits by customer, supplied by BOT and then picking up a telephone and calling that person or an investigator to initiate an audit that could result in fines of tens of thousands of baht.

Well in that case, it must be that you are right and everyone else is wrong, including PWC, Sherrings and Mazars!

Well, I don't know the answer to that question but since I file a tax return every year, I don't need to worry about the answer! BTW how do you know my experience is different from most farangs that makes you think I am unique. How many farangs do you know in Thailand relative to this issue?

It's not that difficult to imagine that scenario in any country. TRD sees (via BOT) banking transactions of a decent size and frequency coming in from overseas and notes there is no corresponding tax return to account for them, those two checks are hardly rocket science. It may be the bank account pays decent interest and the holder also pays tax which he doesn't try to reclaim....why is that they ask themselves. I know, let's ask Immi if this guy has a long stay visa....he does they say.....and so on and so on.

The issue in this matter is whether or not foreigners would be prevented from leaving the country, if the TRD had them under investigation or thought they may owe tax. The answer is very clearly that they would.

I'm in the system and have been for twenty years. Some years I file, some years I don't need to, often three of four in a row and nothing is ever said.

Yes it is, Por 162 says it is so: https://sherrings.com/foreign-source-income-personal-tax-thailand.html

The following is not complete but is fairly accurate in as far as it goes, you may wish to skim through the first few pages. I don't know if your tax advisor is confused about the worldwide tax laws that the TRD has said they would like to impose in future years or whether he's just inept. Either way, I can see no good reason to remain connected to him.

True(ish), but build, hair and eye colour are a giveaway for Scandi's. I'm pretty sure I can usually distinguish between Chinese and Thai based on skin colour (usually paler or lighter), dress (usually more flamboyant) and manners/demeanor (less well mannered/considerate/specially aware). Mostly however the languages are totally different, 5 seconds of eavesdropping will confirm nationality.

That's complete nonsense, get a new tax advisor.

Joint liability for any tax that is owed.

Agreed

Depends on your horizon and line of sight here. If you're talking Pattaya or Phuket, I agree. If you're talking rural Thailand, you couldn't be more wrong. The answer of course is to stay away from tourist ghettos

Many westerns can't tell the difference between Chinese, Thai or Japanese.