black tabby12345

The unknown foreign tourist:They drew the first blood. Not me.

So it is unsure if TRD fully respect DTA. And they might tax the money already levied back home(by mistake/on purpose)? My home country is covered by DTA with Thailand though. Looks like the simplest short-term solution to me at this moment is: To keep the (any future annual remittance) below THB60000. Thai bank interest is outside assessable income as 15% WHT applied in the first place. When the amount of yearly transfer goes above 60000-, do I need to lodge tax return even if the total of remittance is still well below THB150000-?

Thank you for your reply. Can I understand that: At this moment, Thai tax return form does not refer to(cover) the issue of foreign income that is already taxed in the country of origin? Even though TRD says that foreign income once taxed in the country of its earning will not be taxed again here due to tax treaty. And can I view the current Thai tax return form for individual expat online?

Please allow me for fresh queries: 1-When I lodge Thai tax return (in case where my annual remittance of net interest from home is greater than Thai tax threshold for the single expat'60000THB), should I state that the fund remitted to Thailand is the money once taxed(non-resident 10% WHT applied) in my home country? 2-And will it make a difference in terms of nature of income interpretation from the TRD perspective? 3-Or is it simply deemed untaxable if the total of the annual fund transfer is less than the bottom of the Thai income tax bracket(THB150000)?

Dear Mike, Thank you very much for your practical straight to the point advice based on your experience. Such a precious information I can hardly get elsewhere. I now feel everything looks clear enough. I truly appreciate your post. Wish you have a good day.

Thank you for your time and energy devoted to answer my question. I am not a US national. But I found your advice sounds very useful. Please allow me to forward some more queries. 1-Don't I have to apply for TIN until I really need it? The dramatical change of my personal circumstances is unlikely though. 2-No penalty for a tax resident not having TIN(not proposed)? 3-How long does it take, from the application to the actual issue of that number? 4-Is it easy to sort out tax return on your own(not relying on an accountant)? 5-When I lodge tax return in Thailand, do I have to declare my whole annual income back home(including the amount not remitted to Thailand)? 10% non-resident tax is taken from my interest income. Do I need to submit any papers to prove it is already taxed home? 6-Once you get TIN, does TRD contact you periodically? I thank you again for your kind reply.

Amount of the interest earned back home is now less than USD4000. Rollover timing coincided with the lowest interest rate period in my country(2020-2021). Amount will improve for the forthcoming years though. Yes, I have been living on the money that is already here.

Hello, Mr. MIke Lister, I have been in Thailand as a retiree(on Non-immigrant O by fund-in account method) for more than 10 years. My personal circumstances: 1-I usually stay here for full year. 2-Income: Interests from: Thai bank(annual amount less than THB30000-.15% Withholding tax applied). Home country(10% Non-resident tax deducted). And the country of my citizenship has a tax agreement with Thailand. Therefore no double taxing on one same income. No other income sources from elsewhere. 3-Not receiving any pensions. 4-I have not remitted any money from home this year. And unlikely to do so for the next few years. Currently living on the fund transferred to Thailand in the past. In such a case like this, Do I need to apply for TIN/lodge a tax return in Thailand? I contacted a few tax agents(for foreigners) in Thailand. And explained the above details. But they are keen to avoid definite answer(intending to charge hefty consultancy fee from the advisory meeting they are willing to arrange).