Is a No Passbook account acceptable to immigration ( SCB EZ Savings 1.5% )

[alphason]

Is an account with an E passbook, online only account such as SCB EZ Savings paying 1.5% acceptable as proof of funds for Thai immigration?

 

Now Krungsri Mee Tae Dee 1.3% account is withholding tax was thinking of changing, of course also need to know if they will withhold the tax also.

[ubonjoe]

There is no rule that states you have to have a bank book. You might though have to explain to immigration why there is no bank book.

You would have to insure you can get a statement printed out on the date you apply for the extension.

 

Are you sure they are withholding taxes for that Krungsri account. For fixed deposit accounts they do not normally do not withhold taxes until you earn around a certain amount of interest. You can also apply for a refund of the taxes deducted.

[WalkingOrders]

I was specifically asked to show bankbook, and made to have it updated to current day. Is there a way around that? perhaps, but they are geared to seeing bankbook, statements, and bank letter. When they have to deviate you make them take their time to look up rules etc, they dont seem to like that. Just an opinion.

[ChouDoufu]

5 hours ago, ubonjoe said:

There is no rule that states you have to have a bank book. You might though have to explain to immigration why there is no bank book.

You would have to insure you can get a statement printed out on the date you apply for the extension.

 

Are you sure they are withholding taxes for that Krungsri account. For fixed deposit accounts they do not normally do not withhold taxes until you earn around a certain amount of interest. You can also apply for a refund of the taxes deducted.

i opened a new fixed account at BKK last march with 2000 baht, 1.25% 6 month.  deposited 800k a month before interest due date.

earned 12.40 baht interest, had 1.86 baht tax deducted.  only piddly interest earned in savings account in addition.

[tgeezer]

2 hours ago, WalkingOrders said:

I was specifically asked to show bankbook, and made to have it updated to current day. Is there a way around that? perhaps, but they are geared to seeing bankbook, statements, and bank letter. When they have to deviate you make them take their time to look up rules etc, they dont seem to like that. Just an opinion.

That is a very good point, I would be on the side of Immigration if I were queueing behind someone wanting to go ‘off piste’ in that way.  Immigration at CW is very good in allowing people to fix deficiencies if it can be accomplished in the building, and keep their place open without holding up the queue but they don’t tolerate ‘special cases’ very well, not should they in my opinion. 

[Maestro]

4 hours ago, ChouDoufu said:

i opened a new fixed account at BKK last march with 2000 baht, 1.25% 6 month.  deposited 800k a month before interest due date.

earned 12.40 baht interest, had 1.86 baht tax deducted.  only piddly interest earned in savings account in addition.

1. At what bank at BKK (Suvarnabhumi airport), if that is where you mean, or at what bank in Bangkok, if that is where you mean, did you open your account?

 

2. Is it an account without a bank book or are you off topic here?

[Dah fahrang]

21 hours ago, ubonjoe said:

Are you sure they are withholding taxes for that Krungsri account. For fixed deposit accounts they do not normally do not withhold taxes until you earn around a certain amount of interest. You can also apply for a refund of the taxes deducted.

Yes. Sadly, 100% Correct.

I noticed a deduction of tax (coded TX) on my Mee Tae Dai Savings account statement this month, for the first time. Phoned Krungsri 1572 to speak with an English speaking customer services agent, who confirmed this is due to a 'new law' which came into force on 15 May.

It used to be 20,000 Baht interest = no withholding tax. After that, 15%. Now it is 15% of every satang deducted at source. Krungsri agent advised that account holders should claim back tax at the end of the year. After a bit of checking to confirm what she said, I found this, likely reason.

http://englishnews.thaipbs.or.th/small-banks-taxes-evasion/

[alphason]

I went to my Krungsri branch today and they confirmed, new ruling from Bank of Thailand for all foreigners accounts (they said from 1 Jan but only just starting it now), so not just Krungsri it will apply to all accounts.

She was not sure about claiming the tax back but looks like its possible .

[HampiK]

7 hours ago, alphason said:

I went to my Krungsri branch today and they confirmed, new ruling from Bank of Thailand for all foreigners accounts (they said from 1 Jan but only just starting it now), so not just Krungsri it will apply to all accounts.

She was not sure about claiming the tax back but looks like its possible .

Claiming back the tax is not that difficult. With a yellow book it is actually easy. I would start to check for your TIN (Tax Identification Number). Then your first step is already done! Go to the Tax Revenue office of your area.

[ChouDoufu]

On 6/2/2019 at 11:12 PM, Maestro said:

1. At what bank at BKK (Suvarnabhumi airport), if that is where you mean, or at what bank in Bangkok, if that is where you mean, did you open your account?

 

2. Is it an account without a bank book or are you off topic here?

sorry about that....i usually shorten bangkok bank to....BKK.

fixed account with book.

[Maestro]

20 hours ago, ChouDoufu said:

sorry about that....i usually shorten bangkok bank to....BKK.

fixed account with book.

Thank you for your clarification.

 

Among other abbreviations, symbols, acronyms, etc I have seen beeing used for Thai banks in general, not necessarily Bangkok Bank, are the share symbol on the Bangkok stock market and the bank's symbol incorporated in the SWIFT code (first four digits). Makes my head spin sometimes.

 

Then there is also the colour used in the bank's logo and advertising, eg green bank or yellow bank.

[alphason]

Thanks for replies.

 

Is there any reason why I wouldn't want to have a Tax id, would it mean I have to complete a full tax return, I have no income here.

 

Do tax id's expire, Can I check my old one is still valid, I found a website that checks but it wanted a Thai id card number, passport number did not work.

[ubonjoe]

2 minutes ago, alphason said:

Is there any reason why I wouldn't want to have a Tax id, would it mean I have to complete a full tax return, I have no income here.

None that I can think of.

 

2 minutes ago, alphason said:

Do tax id's expire, Can I check my old one is still valid, I found a website that checks but it wanted a Thai id card number, passport number did not work.

As far as I know they do not expire.

If you tax ID number has 13 digits it may work instead of a Thai ID number.

[jacko45k]

13 minutes ago, alphason said:

Thanks for replies.

 

Is there any reason why I wouldn't want to have a Tax id, would it mean I have to complete a full tax return, I have no income here.

 

Do tax id's expire, Can I check my old one is still valid, I found a website that checks but it wanted a Thai id card number, passport number did not work.

Only wrt any liability to Thai Tax. When I received my ID only this year, I was also asked if I had any pension income in the UK. I don't and said so. 

[Tanoshi]

1 hour ago, alphason said:

Is there any reason why I wouldn't want to have a Tax id, would it mean I have to complete a full tax return, I have no income here.

The interest earned on accounts is regarded as income earned within Thailand.

 

Thailand's tax year runs from Jan - Dec.

Applications for refunds/payment are submitted between Jan - Mar of the following year.

You obtain a statement of interest received and tax deducted from your bank, then submit this to your local Revenue department. They will set up an account with a username and password.

You can use your passport or Thai ID card for foreigners to register.

They'll complete the application online on your behalf (10 minutes).