November 2, 20232 yr When bank staff realized I have a Thai TIN they found this important and put the TIN in their system. They even had a form for this. But they couldn't explain why. Should I run around to my other banks and give them my TIN? Do I have any advantages if I give them my TIN? Or am I obliged to do this
November 2, 20232 yr Popular Post Never mind, we'll soon be all running for TIN's to keep our bank accounts open...
November 2, 20232 yr 1 hour ago, Lorry said: Should I run around to my other banks and give them my TIN? Do I have any advantages if I give them my TIN? Or am I obliged to do this No. Not until your bank ask for your TIN # No. Not as per today. From 1/1/2024 might be different. Wait and see. Yes, only if or when your bank ask you. Else relax.
November 2, 20232 yr Why should the Bank have your TIN😕I have paid tax here since day one and have never been asked the Banks (2) in Thailand for a TIN. However, the regulations under the FATF will most likely make your home country Bank demand it if your tax residents in another country than your home country. Felt
November 2, 20232 yr 22 minutes ago, Felt 35 said: Why should the Bank have your TIN😕I have paid tax here since day one and have never been asked the Banks (2) in Thailand for a TIN. However, the regulations under the FATF will most likely make your home country Bank demand it if your tax residents in another country than your home country. Felt Rest assured, that within a few months the Thai Revenue Department will request all banks to record their customers' TINs. This is the most obvious first step to take to ensure that Foreign remittances get duly taxed, at least some of them in the form of bank transfers. Others, such as Cash, ATM withdrawals with foreign cards, CC payments, etc will be a bit more difficult to trace for a while. But I wouldn't play much beyond 2026.
November 2, 20232 yr Author I called the bank's call center. They say I can register my TIN at the bank if I want, I don't have to. If I register my TIN no withholding tax on interest will be withheld of the first 20000 Baht of interest. If I don't register my TIN, withholding tax of 15% will be withheld from the first Baht of interest. (I had heard about the 20000 thing but I didn't know this is how it works. Afaik i get zero interest anyway.) Edited November 2, 20232 yr by Lorry
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