Need advice on ways to transfer funds from Wise UK to Thailand without going through my bank account and card question

[homeseeker]

Currently have monies transferred from Wise UK to my bank here in Thailand. Due to possible new regulations I want to know what legitimate etc methods are available to get monies coming to Thailand without being received into my Thai bank  account. 

I  suppose I could send money to a Thai  friend with a bank account here but that would be risky as the Thai may -unintentionally of course - forget to gift me my money.....????

Can i send the money here to somewhere like Western Union for me to collect it?

Or something similar?

I have Thai credit and debit cards.

Is there some way to get a debit card from a different Thai or non Thai bank here and use that for expenses?

{ Wise do not issue cards for persons residing in Thailand at the moment}

 

Thx any input!

 

 

 

 

 

 

Edited September 21, 2023 by homeseeker

[RandolphGB]

I think the phrase you're looking for is 'tax evasion'. ????

 

You could just stuff cash into a suitcase. Or Bitcoin? 

[Dmaxdan]

I believe that because of the taxation agreement that has existed between the UK and Thailand since 1981 it's unlikely that you will fall foul of the new regulations as of next year.

[homeseeker]

Tax evasion is illegal. Legitimate tax avoidance is not.

[Celsius]

You do that and watch Wise take all the money and block the account

[scubascuba3]

I can't see them taxing cash transfers, they may try taxing income

[Sigma6]

Why not wait until this proposal has clarity.

I <think> it will not effect us.  The target is Thais with overseas assets.

[Liverpool Lou]

2 hours ago, homeseeker said:

Can i send the money here to somewhere like Western Union for me to collect it?

Yes, you can send yourself a Western Union transfer for collection here.

[dddave]

Just bear in mind, whether bank or Western Union or whatever, you will have to show your passport to collect any funds.  Your PP number will follow you.

[foreverlomsak]

1 hour ago, Dmaxdan said:

I believe that because of the taxation agreement that has existed between the UK and Thailand since 1981 it's unlikely that you will fall foul of the new regulations as of next year.

The 1981 version has been replaced with one issued 2012 or 2014, if memory serves. I think you will find this new version to be not so beneficial.

Search on www.gov.uk to get the latest version. 

[Moonlover]

Oh for heaven's here we go again! @homeseeker, go and read the original article, in full, where it says, quite clearly:

 

'The program will begin January 1, 2024 and apply only to tax residents in Thailand meaning tourists and short term workers will be exempt. Also exempt will be those who have been taxed in a foreign country that has a standing Double Tax Agreement with Thailand'.

 

In all my years as an expat, I've seen such a panic over something that does not and will not affect us. And it even says so in black and white.

 

https://www.thaienquirer.com/50744/thai-government-to-tax-all-income-from-abroad-for-tax-residents-starting-2024/

[freeworld]

12 hours ago, scubascuba3 said:

I can't see them taxing cash transfers, they may try taxing income

Exactly, it is income tax and is dealt with by tax authorities not banks.

[Ben Zioner]

12 hours ago, scubascuba3 said:

I can't see them taxing cash transfers, they may try taxing income

Maybe, but it could be the opposite.

 

For instance the Taxation agreement with [one of] my country of origin states clearly that pensions are taxed at the source. So how do you prove that a cash transfer is pension? That's why I could imagine that they would require pensions to be paid [by the funds] into Thai bank accounts, free of tax. All other cash transfers being considered as Taxable. Still complicated but more workable from an enforcement point of view. It remains that the division pension vs "other income" may vary from country to country.

[RandolphGB]

13 hours ago, homeseeker said:

Tax evasion is illegal. Legitimate tax avoidance is not.

Here's an idea. Just pay the taxes to support and fund the country you live in. If you don't, you have no right to complain about the state of the place.

[brianthainess]

So I'm guessing it's illegal money you have never paid tax on, and now you want to launder it, if not WTF your worried about.

[Tom H]

Money laundering question online on Asean now with link to your email and IP adress and therefore they know you if they want:).

 

????

[n00dle]

14 hours ago, homeseeker said:

I  suppose I could send money to a Thai  friend with a bank account here but that would be risky as the Thai may -unintentionally of course - forget to gift me my money.

how stupid are you? 

All this would do is put your tax liability on someone else,

[n00dle]

1 hour ago, freeworld said:

Exactly, it is income tax and is dealt with by tax authorities not banks.

banks can report to tax authorities.

[scubascuba3]

4 hours ago, Ben Zioner said:

Maybe, but it could be the opposite.

 

For instance the Taxation agreement with [one of] my country of origin states clearly that pensions are taxed at the source. So how do you prove that a cash transfer is pension? That's why I could imagine that they would require pensions to be paid [by the funds] into Thai bank accounts, free of tax. All other cash transfers being considered as Taxable. Still complicated but more workable from an enforcement point of view. It remains that the division pension vs "other income" may vary from country to country.

Taxing cash transfers is just not workable so people can stop panicking 

[n00dle]

10 hours ago, scubascuba3 said:

Taxing cash transfers is just not workable so people can stop panicking 

How no if the bank is reporting foreign transfers?

[scubascuba3]

7 hours ago, n00dle said:

How no if the bank is reporting foreign transfers?

of course it won't happen, so someone transfers 800k for retirement and you think they will tax it?

[n00dle]

4 hours ago, scubascuba3 said:

of course it won't happen, so someone transfers 800k for retirement and you think they will tax it?

I dont know what to think. No one does. 

[topt]

On 9/21/2023 at 8:27 PM, foreverlomsak said:

The 1981 version has been replaced with one issued 2012 or 2014, if memory serves. I think you will find this new version to be not so beneficial.

Search on www.gov.uk to get the latest version. 

https://www.gov.uk/government/publications/thailand-tax-treaties

 

Still seems to show 1981........