driveout

I’ve been staying in Thailand for almost 2.5 years, doing border runs and having two ED visas during that time. I’ve never flown out of Thailand—only done land border runs. Now, after my last border run, I’m planning to apply for a visa extension (I know it costs 1,900 baht), but I’m wondering—could I run into any issues? Is there a chance they could deny me? Has anyone had experience with this kind of situation? Any advice would be greatly appreciated

yes they will care if your country get the report, why would they not?

https://www.rd.go.th/fileadmin/user_upload/FATCA_File/crs/Thailand_CRS_Guidance_280823.pdf chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.rd.go.th/fileadmin/user_upload/FATCA_File/aeoi/Day1_Workshop_FATCA_CRS__10APR2024.pdf

No. Did you check the documents that been presented?

So if you open your account before 16 August 2023 and have under 250000 usd there will unlikely be any report is my understanding

For accounts opened before 16 August 2023, they are considered pre-existing accounts under the CRS (Common Reporting Standard). Here's how it works: Pre-existing Individual Accounts (opened before 16 August 2023) may not automatically be reported unless the account balance exceeds the $250,000 USD threshold. If it does, enhanced due diligence and reporting may be required. If the balance is below $250,000, it typically will not be automatically reported unless there is a change in circumstances that requires further review or reporting (such as if the account holder's tax residency status changes or the account undergoes significant transactions). For pre-existing accounts: If the account holder's self-certification indicates they are a tax resident of a reportable jurisdiction (like UK), and their account balance exceeds the $250,000 USD threshold, it may be subject to CRS reporting. For accounts below the threshold, the bank may not have the obligation to report unless other specific circumstances apply.

i will read it one more time. just to add I did ask my thai bank about CRS and about the forms the bank send out to there customers, they told me if I dont sign or answer the questions my bank account will still work as normal and nothing will happen.

The reporting threshold for foreign financial accounts under Thailand's CRS (Common Reporting Standard) guidance is THB 7,500,000. For pre-existing entity accounts: If the account balance is THB 7,500,000 or below, it is not required to be reported. However, if the balance exceeds THB 7,500,000 at the end of any calendar year, it must be reviewed and reported For pre-existing individual accounts: Lower value accounts: If the balance is THB 30,000,000 or below, they have a reduced due diligence requirement. High-value accounts: If the balance exceeds THB 30,000,000, enhanced due diligence procedures apply. These thresholds apply unless a financial institution chooses to report all accounts voluntarily.

But how likely is that Thailand will report this, I did not hear from anywhere that anyone got a call or a mail from there home government that they have to tax a transaction

So the balance of 5000 usd will be reported but not where they come from?

You right there is so much confusion behind this. i don't dare to ask the thai bank about this.

Hello everyone, I have a question regarding CRS (Common Reporting Standard) and AEOI (Automatic Exchange of Information) regulations. My home country participates in these programs, and I currently have a personal bank account in Thailand. However, I reside in Thailand for less than 180 days per calendar year. If I receive an international transfer of $5,000 from Vietnam to my Thai bank account, will the Thai bank report this transaction to my home country? Does it make a difference if I have or do not have a Tax Identification Number (TIN) registered with the bank? Did anyone here been reported to there home government? I appreciate any insights or experiences you can share. Thanks for your time!

Thanks for your answer. Is it true also that banks in thailand now will report to the tax department when you get money/founds in to the bank, like its a automatic system an Ai thing and sends everything to them, specially if you have a foreigner account?

If I’m a freelancer in Thailand, offering services like web development, and receiving payments into my Thai bank account. If I stay in Thailand for less than 179 days in a calendar year, do I need to pay taxes?