Porthos

The next bank stopps internet banking on the website. https://www.krungsri.com/en/personal/digital-banking/internet-banking

This is related to the Pattaya mule account case. Regulations will change. “After this, the BOT will have to look into the entire system, especially the security and criteria for opening a bank account for foreigners, such as raising the level of knowing customers, the form of deposit transfers, etc. It is raising the level of the entire system.” https://www.prachachat.net/finance/news-1815533 "In addition, customers must be grouped by risk level (Customer Profiling) and risk management measures appropriate for the group must be implemented, such as limiting the amount of transactions per day appropriately and reducing the ceiling of the amount that requires face scanning for new accounts, etc. The revised regulations are expected to be effective this June." https://www.prachachat.net/finance/news-1816096 Pattaya mule account case https://aseannow.com/topic/1361265-police-operation-at-pattaya-bank-linked-to-chinese-call-centre-scam/

Not sure about this. An acquaintance spent 6 months in his Singapore apartment last year. During that time he realized investment gains and repatriated them back to Thailand. He had conflicting information from TRD and lawyers. A Thai lawyer said that he would pay income tax even if he sent the money as a gift to the account of his wife. The lawyer argued that Por.161 was meant to close a loophole. Any attempts to circumvent this regulation could be seen as tax evasion. To be on the safe side my acquaintance decided to leave Thailand for 6 months.

In February 2023 a Thai woman was audited because she received gifts of several million baht from her foreign boyfriend. The foreign revenue department had informed the TRD about these transfers. The TRD ruled that the Thai girlfriend does not pay income tax if the unmarried couple lives together as husband and wife. This ruling happened before the remittance tax was implemented. The tax implications for the sender of the money were therefore not addressed. https://www.rd.go.th/64926.html

Before 2024 foreign pensions have only been taxable if they were sent to Thailand in the same tax year but no one bothered to enforce it. https://www.rd.go.th/24648.html

On February 13 at the Siam Kempinski Hotel "Thai Economic and Financial Direction 2025". Some articles in Thai. Matichon mentions a timeline. Thairath writes about foreigners bringing money to Thailand. https://www.matichon.co.th/economy/news_5047819 https://www.thairath.co.th/money/experts_pool/columnist/2841934

An article from a leading business newspaper is a troll post?

Bangkokbiznews published an article about fines and penalties. It starts with a fine of 2,000 Baht and ends with 7 years in prison. Penalties for Failure to File Form PND 90/91 and Pay Tax Failure to submit the form or pay tax beyond the deadline is subject to a fine of not more than 2,000 baht in case of failure to submit the form An additional 1.5% per month of tax payable The investigating officer issued a summons and found that the form was not filed or the form was submitted but the tax was too low The penalty is a fine of not more than 2,000 baht in case of failure to submit the form 1 or 2 times the penalty of the tax payable An additional 1.5% per month of tax payable The investigating officer issued a summons and found that the intention was not to file the form to avoid paying taxes The penalty is imprisonment for not more than 1 year or a fine of not more than 200,000 baht, or both Penalty fee 2 times the tax payable An additional 1.5% per month of tax payable Deliberately making false statements/providing false evidence to avoid paying taxes The prison sentence ranges from 3 months to 7 years Fines ranging from 2,000 baht to 200,000 baht https://www.bangkokbiznews.com/news/news-update/1165969

My local 7-Eleven has recently reduced Jakob's Creek from 545 Baht to 445 Baht. About 20 % less.

They want to implement it next year. "We are currently drafting a law and will expedite the proposal of a law to create fairness. We will try to start using it in 2025,” said the Director-General of the Revenue Department. https://www.infoquest.co.th/2024/427464 This part needs to be amended in order to create fairness for taxpayers and wants to enforce it as soon as possible in the year 2025." https://www.prachachat.net/finance/news-1647438

For the evidence to claim foreign tax credit, Tax Payment Certificate issued by foreign tax authority is recommended. https://www.rd.go.th/fileadmin/user_upload/lorkhor/newspr/2024/FOREIGNERS_PAY_TAX2024.pdf (24 April 2024)

For those who are waiting for cheaper wine in a restaurant. You may have to wait a little while longer. Quote from a wine importer: "It’s not like tomorrow everybody will drop their prices by 30%. It’s going to take a long time to implement it step by step,” says Conrad, as the price changes must be reflected across the supply chain. “Maybe by the end of the year, we could see some effect.” https://www.thedrinksbusiness.com/2024/03/rocky-start-for-thailands-latest-alcohol-tax-reform/

Here is the original Thai source of this news. It was a meeting of the Deputy Finance Minister and the RD on 31 May. https://www.thansettakij.com/business/economy/597533