anrcaccount

If you're really committed to getting one, you can get it for half that price, 3500THB with "thailawonline". I believe other firms/ agents can do it for around that price also. So the price you're being quoted is not good at all, IMO predatory, just like much of what that type of agency is offering.

I think the best way to file would be to not file. But it seems you're committed to trying. Please keep us updated...

You're probably the first person they have ever come across who has attempted to file in this manner, and the first time they've ever seen the that detail of remitted income. Don't be surprised, if you find this is much more trouble than it was worth.

I guarantee he has already reported them , and most likely, the report has been ignored. Evidence would suggest the Thai authorities have zero interest in enforcing the taxation laws on foreigners / foreign remittances.............. so it's likely they they equally have zero interest in enforcing the laws on foreigners illegally giving tax advice to other foreigners!

I'm far from a fan of Expat Tax, and wouldn't trust much what they publish. But I did view their webinar on remittance of capital gains. and it doesn't state that everything in any investment / brokerage account pre 2024 is considered "income" per POR 162. They acknowledge the concept of original capital being remitted, non taxable, and the idea of calculating capital gains. There is also an acknowledgement that any investment sold at cost, or a loss can be remitted as non assessable.

Now, you're getting it. It was probably more than 75% too. Nothing has changed apart from an internal interpretation guideline and a whole lot of hot air. It's still insane to try to pay tax on remittances. I doubt a single Satang has ever been paid. This may change soon, but only because of anyone filing through a predatory agency. Anyone going to the TRD to try and do this direct is being sent packing.

Yes, complete coincidence. No, they're not responsible for that as part of the CRS data sharing regulations. They're not. The RD isn't concerned with speculation in an expat forum, some cowboy expat led tax agencies, or poorly written and researched expat focused media articles. This isn't making the news in the Thai media.

This poster is completely misinformed on what the CRS actually is, and continues post this rubbish. They've been corrected on this multiple times, by multiple members now. FACT: The CRS reporting obligations have nothing to with remitted income, nor that remitted income being reported to a tax authority. There is no need for 'tax residents to declare remitted income' for the CRS obligations to be met. FACT: Thailand can comply with its obligations under CRS, by asking its FIs/Banks to share a data file once a year. This data file contains only aggregate account balances, and does not contains any references to remitted income, does not include individual transactions, excepting the cases of income as specified in table 5. SOURCE: https://www.rd.go.th/fileadmin/user_upload/FATCA_File/crs/Thailand_CRS_Guidance_280823.pdf

From personal experience with Jomtien Tax Office, I second that. By the way, it would be helpful on these threads if posters would mention which tax office their successes/failures occurred. Success = being sent home with nothing after visiting the tax office. Guaranteed Success = Don't go to the tax office. Keep doing what the vast majority have done for many years, have nothing to do with TRD, unless you are working or earning income sourced in Thailand.

I absolutely take your point but remember the reports include details of the following for every individual account you have in both participant countries of the DTA, including credit card accounts. This means the Thai authorities can query us on any payments into the cc accounts to pay off the loan if they suspect the loan involved payment in Thailand. What information will be reported to tax authorities? The information reported to tax authorities will have been provided in the self-certification form, and details about the accounts and products you have, including: the balance or value the total amounts of interest or payments credited Sorry, but you've missed the point, and you continue to post inaccurate 'copy pastes' from a predatory expat tax agency. Firstly, credit card accounts themselves aren't generally reported at all in the CRS data sharing. Some credit card issuers are considered non-reportable financial institutions altogether. Others, do not need to be reportable if they have policies of not accepting overpayment of more than US50k, or have policies to return any overpayment in excess of US50k, within 60 days. Those that are reportable, are reportable on a depository basis- that is only if a credit balance is held, in excess of the reportable thresholds. That means, only people who load up their credit cards with a positive balance ( not credit limit) of $50,000 USD or more, at the once a year point, of this account being eligible to be reported. Based on this, it's logical to infer that very few credit card accounts would ever be reportable. Remember, only once a year this information is exchanged, and only on aggregate balances ( with some exclusions).

No, it's you who doesn't understand the CRS. It's not "all your financial dealings" Educate yourself. Here's some facts to help you: CRS Source: https://www.rd.go.th/fileadmin/user_upload/FATCA_File/crs/Thailand_CRS_Guidance_280823.pdf Table 4 ( page 60) it defines exactly what financial information is shared which is only once yearly, aggregate account balances, does not include individual transactions, excepting the cases of income as specified in table 5. Regarding the inaccurate info you've posted regarding credit cards, you can see there is no way this information shared can include individual foreign credit card (or ATM) transactions. In addition , the CRS reporting obligations have nothing to with remitted income, nor that remitted income being reported to a tax authority. Unfortunately, CRS has become a term used, in a scaremongering fashion, being pushed by Thai 'expat' tax experts, in order to drive demand for their services, along with fitting in nicely with the worldview of the those who believe there's an eye on their every transaction.

I went to the trouble of sharing my source with you and all you give in return is a sneering remark about parroting. Don't ask me again. I asked if your source was A or B. A) a slick presented, foreigner fronted 'expat' tax specialist that sprung up less than 18 months ago? Or B) did you take it from an established firm that has actually had experience filing Thai taxes , and dealing with the TRD, over many years? You said B, when it was in fact A, so remarks are warranted IMO. Be very careful with this source, as it is not an established Thai tax firm, it was only established in late 2023, and as such, has a short tenure filing Thai taxes or dealing with the TRD. Many are arguing this firm is illegally giving advice, as it has multiple foreigners dispensing tax advice on free calls and publishing multiple webinars, none of which feature a single Thai person........... but, I guess that's a different issue...........

Not going to waste my time replying other than advising you to reread prior threads going back years with your same argument above and "no" real knowledge has been gained. As I mentioned prior - carry on for the many AN members that find these threads hilarious. Don't worry, I agree with you, it's the other poster who is parroting 'expat' tax advice from a foreigner fronted firm that only sprung up 18 months ago......... The only "real" knowledge has been shared by multiple members now, who have gone to their local TRD, and been sent home packing. With the real world status quo being - TRD isn't interested in taxation of foreigners remitted funds.

B OK, that's good, care to share which firm? I guess then that some of the opinions you're posting on this thread, are your own and not based on their professional advice....................

Si don't believe me then. I have taken tax advice from professionals but I am sure you have a sour attitude to that. Up to you Let's guess, did you take your advice from: A) a slick presented, foreigner fronted 'expat' tax specialist that sprung up less than 18 months ago? Or B) did you take it from an established firm that has actually had experience filing Thai taxes , and dealing with the TRD, over many years?