Historical Imported Income - How far back can Thai RD track?

[foreverlomsak]

With the current moves to register and possibly tax Expats from Tax Year 2024, how far back can the Thai Revenue Department investigate your income stream, 5 years, 10 years, or only 2023 (the year being assessed right now).

I submitted tax returns on my Thai income only in 2008-2010, after ceasing work the RD ceased sending me annual forms to complete and submit. If I re-register (old no is dead as only 10 digits, now are 13 digit numbers), will they suddenly want to assess all the years between, resulting in what may be a significant tax bill and fines.

[freeworld]

If they don't know about it usually there is no limit to how far they can go back, that how it works in most places.

 

It depends on the source of your income earned/remitted and residence and was it taxable and to be declared?

 

"Tax investigation and assessment
The Revenue Department is empowered to demand documents and
records for inspection for a period of two years. The period will be
extended to five years if it is found, or there is a reason to believe,
that there was tax evasion, or where a tax audit is conducted for the
purpose of paying a tax refund.
Nevertheless, under the Civil and Commercial Code, the Revenue
Department can assess tax for up to ten years."

 

To get a more clear understanding of this one needs to refer to the Civil and Commercial Code.

Edited January 9 by freeworld

[Satcommlee]

I believe there is a 10 year limit.

[Freddy42OZ]

13. If we take the simplest type of income and say that you transfer personal savings from overseas to Thailand and those savings  were earned before 1 January 2024, those funds are not assessable. But savings earned after that date are, hence the date when the income is earned is extremely important. A word of caution, you may be asked to provide proof that savings were earned before 1 January 2024.  


So any funds you transferred into Thailand prior to 1 Jan 2024 are not taxable.

[impulse]

17 minutes ago, Freddy42OZ said:

So any funds you transferred into Thailand prior to 1 Jan 2024 are not taxable.

 

I'm not sure that applies to income earned while living as a tax resident in Thailand and not reported.

 

I'm only guessing, but I can imagine the RD getting real curious if a long term expat tax resident starts reporting OnlyFans income on Jan 1, 2024.  (Or any income stream that was earned while a tax resident that preceded 1/1/24)

 

Probably not so curious if an expat just starts reporting retirement funds being transferred on Jan 1, 2024.

 

It's gonna get interesting...

 

Edited January 10 by impulse

[quake]

26 minutes ago, Freddy42OZ said:

13. If we take the simplest type of income and say that you transfer personal savings from overseas to Thailand and those savings  were earned before 1 January 2024, those funds are not assessable. But savings earned after that date are, hence the date when the income is earned is extremely important. A word of caution, you may be asked to provide proof that savings were earned before 1 January 2024.  
So any funds you transferred into Thailand prior to 1 Jan 2024 are not taxable.

 

I hope this is the case.

But I'm not 100% convinced, I want to see some fresh info from the revenue department 

on this, before it's party time for me.

Not going to import any funds for the next year.

just going to sit and wait,  see what rolls down hill.

 

 

 

Edited January 10 by quake

[mokwit]

23 hours ago, foreverlomsak said:

With the current moves to register and possibly tax Expats from Tax Year 2024, how far back can the Thai Revenue Department investigate your income stream, 5 years, 10 years, or only 2023 (the year being assessed right now).

I submitted tax returns on my Thai income only in 2008-2010, after ceasing work the RD ceased sending me annual forms to complete and submit. If I re-register (old no is dead as only 10 digits, now are 13 digit numbers), will they suddenly want to assess all the years between, resulting in what may be a significant tax bill and fines.

I understand [from a newspaper article by a Tax Professor] they can go back as far as 10 years if no filings, and that limit is the law having a statuette of limitations of 10 years.

 

Google: 'how long can a tax man go back in time to assess you' and the name of a well known Bangkok based newspaper.

Edited January 10 by mokwit

[foreverlomsak]

1 hour ago, quake said:

So any funds you transferred into Thailand prior to 1 Jan 2024 are not taxable.

Unless they were transferred in during the financial year they were earned, e.g. pensions deposited direct into a Thai Bank by a UK pension provider.