How to get a Tax Refund for Withheld Interest

[Mike Teavee]

Can anybody help with the process for reclaiming Withheld Interest from Thai Bank accounts... 

 

So far I have...  

• Registered for & received my TIN 
• Obtained certificates of Withheld Interest from my Bank for the past 2 years.  
• Registered everything in-person at my Tax Office who also set me up on the E-Filing system 

 

Before I went on holiday I checked the status & it said the return had been processed & a refund issued, came back expecting a chq but instead received a letter to say I needed to provide... 

1. Certificates of Withheld Interest (Already Submitted at the office but doesn't show on my documents submitted on-line)
2. My Passport + a Photo copy of every passport page (Is this really necessary) 
3. Every Bank Account Book with a Photo copy of every page (Is this really necessary, surely the only thing they need are the certificates from the Bank).
4. Certificate of No-Other Income in Thailand (rental income, commission etc...)  - What is this? And how do I prove that I haven't recieved something! 
5. Sources of Income in the Country & Abroad together (Does this mean they want my UK Tax Return as well!) 

 

I've already giving them the 1st 3 at the office & will go back to re-submit them but what are #4 & #5 & how do you go about getting these? 

 

As an aside my status still shows Return Processed & a Refund has been issued ????

 

 

TIA

 

 

MTV

 

 

Edited April 10, 2023 by Mike Teavee

[nigelforbes]

Eeeek!

 

By contrast I filed my return online and didn't submit any documents and wasn't required to, I declined the refund of 450 baht.

 

It sounds like they may be giving you the run around or perhaps because it's your first time they want to check a few things. Primarily they are interested in any income you receive in Thailand during the year it is earned. I declared my overseas pension income, you should do the same, that's point 5. If your pension or other income is not taxable here by treaty or doesn't qualify because of when it was remitted, don't declare it. Basically, they don't want to refund the tax paid on bank interest unless you can show that you don't have other taxable income.

 

Point 4 - no idea, makes no sense to me, perhaps ask at the Revenue office?

 

If you are over 65 years old you have a minimum of around 420k baht in deductions and zero band tax income before you have to start paying tax. That's 190k for over 65, 60k personal deductions, 150k zero rated, max 25k for health insurance premium.

 

 

[Mike Teavee]

Thanks, I'm 57 so the only income I receive is from renting out my UK house & profits/dividends from UK Shares, all of which are taxed in the UK (my accountant files a tax return for me every year). 

 

I don't bring money into the country in the same year it's earned  (most of my income is re-invested)  however I do regularly give my mate money (£2-500 per month + one-off £6,000 per year) in the UK & he pays me back in Thai Baht, so I'm guessing that might confuse things should they want to look through every transaction in my bank book.   

 

The GF is still away visiting family so I'll go back to the Revenue Office after Songkran & if I can't sort it out on the day will forget about it.

[topt]

16 hours ago, Mike Teavee said:

& if I can't sort it out on the day will forget about it.

I have claimed for about the last 8/9 years including last year. However having added my TIN to a couple of accounts it only leaves my fixed account so worth only 2-3k max in withheld tax.

 

With the potential increased scrutiny from the Thai revenue service/CRS implementation I decided to not bother this year and try and stay below any radar  - probably a forlorn hope since I have a TIN.

 

AS to point 5 - even though I think I am 100% legal on the current basis I have no interest in providing any income details from outside Thailand if I can avoid it. 

[Mike Teavee]

41 minutes ago, topt said:

With the potential increased scrutiny from the Thai revenue service/CRS implementation I decided to not bother this year and try and stay below any radar 

TBH It's only 4,320b but I needed to go through the process of getting a Tax Identification Number (TIN) as my UK Bank(s) are increasingly asking me for proof of where I'm tax registered (e.g. the Bank where I have my Mortgage seems to need to tell the Thai Revenue Department about the < £2 in interest they paid me last year!) 

 

Having jumped through the hoops of getting a TIN I figured I may as well try to get back the tax refund that is rightly owed to me, but it seems I might have brought more work on myself than it's worth ????  

 

Will go into the office after Songkran to see what needs to be done to either get it sorted or cancel the claim. 

 

 

 

 

 

Edited April 11, 2023 by Mike Teavee