Popular Post Yumthai Posted June 3 Popular Post Share Posted June 3 9 hours ago, Danderman123 said: and then see what happens to the 100s of 1000s Farangs who don't file. Nothing worse than what will happen to the 1,000,000s of Thai people who don't file either. 3 Link to comment Share on other sites More sharing options...
Yumthai Posted June 3 Share Posted June 3 (edited) Deleted. Edited June 3 by Yumthai Double post Link to comment Share on other sites More sharing options...
Danderman123 Posted June 3 Share Posted June 3 10 minutes ago, Yumthai said: Nothing worse than what will happen to the 1,000,000s of Thai people who don't file either. Except the Thai people don't import cash into Thailand from abroad. Or worry about visa renewals. 1 1 Link to comment Share on other sites More sharing options...
Popular Post CallumWK Posted June 3 Popular Post Share Posted June 3 (edited) Just my 2 cents worth. I have spoken with 2 departments of the revenue office in jomtien. First the department which do the collection of the taxes, who because they couldn't answer my questions, directed me to the legal department, where I spoke with the top man. I asked him, how do I prove that what I send over are savings or income. Answer: You don't have to prove, we believe you. Question: If so everyone gonna claim it are savings Answer: Yes but if we do an audit and find it is income, you will be fined. Question: So in such a case, how do I prove that is are savings. Answer: you don't need to prove, we believe you, you don't even need to declare savings. At that point, I thought it was better to let it go Edited June 3 by CallumWK 2 11 Link to comment Share on other sites More sharing options...
Popular Post Yumthai Posted June 3 Popular Post Share Posted June 3 4 minutes ago, Danderman123 said: Except the Thai people don't import cash into Thailand from abroad. Oh really? We don't have numbers but I suspect that all the money received by Thai people in Thailand from their own offshore accounts/relatives/friends/sponsors/... outweighs foreigners money. 1 3 Link to comment Share on other sites More sharing options...
Expat68 Posted June 3 Share Posted June 3 1 minute ago, Yumthai said: Oh really? We don't have numbers but I suspect that all the money received by Thai people in Thailand from their own offshore accounts/relatives/friends/sponsors/... outweighs foreigners money. My Thai wife does Link to comment Share on other sites More sharing options...
Danderman123 Posted June 3 Share Posted June 3 24 minutes ago, Expat68 said: My Thai wife does As in you transfer money from abroad into your wife's bank account? Link to comment Share on other sites More sharing options...
Danderman123 Posted June 3 Share Posted June 3 27 minutes ago, Yumthai said: Oh really? We don't have numbers but I suspect that all the money received by Thai people in Thailand from their own offshore accounts/relatives/friends/sponsors/... outweighs foreigners money. You think that 1,000,000s of Thais are bringing in money from abroad? 1 Link to comment Share on other sites More sharing options...
Expat68 Posted June 3 Share Posted June 3 1 hour ago, Danderman123 said: As in you transfer money from abroad into your wife's bank account? No from rented property 1 Link to comment Share on other sites More sharing options...
Baba Naba Posted June 3 Share Posted June 3 8 hours ago, Danderman123 said: If you pay no taxes in the USA, it's possible the deductions you use in the US are not the same in Thailand. Which could mean a tax liability for you here. Not likely, but possible. And, like the US, you would have to fill out a tax return to prove you don't owe anything. My disability pension and SS is not taxable. I do not claim anything. I also do not file, ever! 1 1 Link to comment Share on other sites More sharing options...
Popular Post Yumthai Posted June 3 Popular Post Share Posted June 3 2 hours ago, Danderman123 said: You think that 1,000,000s of Thais are bringing in money from abroad? No, I think that Thais in a whole bring in more money from abroad than foreigners. 2 2 Link to comment Share on other sites More sharing options...
John Phuket Posted June 3 Share Posted June 3 Obviously, there are not a lot of Expats on this forum who were here 40 years ago. Back then long stay visitors had to declare at the revenue department that they had not earned any money in Thailand during their stay. Without the resulting Revenue paperwork, a farang would not get through immigration and out of the country. 1 1 Link to comment Share on other sites More sharing options...
redwood1 Posted June 3 Share Posted June 3 4 hours ago, Yumthai said: Nothing worse than what will happen to the 1,000,000s of Thai people who don't file either. It seems only 6.5% of Thais pay any income tax in Thailand.....So we are not talking just millions of Thais who dont pay Taxes.....We are talking 10s of millions of Thais that dont pay.... The farang retiree expats are not even even one drop in the tax water bucket.... And most expats live off un-taxable Social Security, and pensions... 2 Link to comment Share on other sites More sharing options...
motdaeng Posted June 3 Share Posted June 3 10 minutes ago, redwood1 said: And most expats live off un-taxable Social Security, and pensions... most expats? ... which nationality are we taking about? Link to comment Share on other sites More sharing options...
redwood1 Posted June 3 Share Posted June 3 15 minutes ago, motdaeng said: most expats? ... which nationality are we taking about? Sorry I should have said many not most.. 1 Link to comment Share on other sites More sharing options...
saintdomingo Posted June 3 Share Posted June 3 (edited) 4 hours ago, CallumWK said: Just my 2 cents worth. I have spoken with 2 departments of the revenue office in jomtien. First the department which do the collection of the taxes, who because they couldn't answer my questions, directed me to the legal department, where I spoke with the top man.s I asked him, how do I prove that what I send over are savings or income. Answer: You don't have to prove, we believe you. Question: If so everyone gonna claim it are savings Answer: Yes but if we do an audit and find it is income, you will be fined. Question: So in such a case, how do I prove that is are savings. Answer: you don't need to prove, we believe you, you don't even need to declare savings. At that point, I thought it was better to let it go It will save a lot of messing about if that is the official position next year. And thank you for your valuable and informative contribution. Edited June 3 by saintdomingo Link to comment Share on other sites More sharing options...
petedk Posted June 3 Share Posted June 3 On 5/30/2024 at 8:22 AM, anchadian said: What if you transfer (Wise) all of your income to your wife or girlfriend’s Thai bank account and withdraw from that account as and when required, would that work? We all trust our wives and GF’s 555 Your wife will be taxed. The headline says "New tax rules for foreigners", but the new tax rules also cover Thai people. 1 1 Link to comment Share on other sites More sharing options...
petedk Posted June 3 Share Posted June 3 This year I managed to get some tax-returns ( as I have done a few times previously), but this time the revenue department wanted a copy of every page of my passport to check that I had lived here more than 180 days. So I can see how they how going to check whether you have stayed here 179 or 181 days. 2 Link to comment Share on other sites More sharing options...
Popular Post redwood1 Posted June 3 Popular Post Share Posted June 3 47 minutes ago, petedk said: Your wife will be taxed. The headline says "New tax rules for foreigners", but the new tax rules also cover Thai people. Thais becoming tax payers?....Sir you must be joking....After the last 50 years taxing only a tiny minority pay taxes... 3 1 Link to comment Share on other sites More sharing options...
motdaeng Posted June 3 Share Posted June 3 (edited) 1 hour ago, petedk said: This year I managed to get some tax-returns ( as I have done a few times previously), but this time the revenue department wanted a copy of every page of my passport to check that I had lived here more than 180 days. So I can see how they how going to check whether you have stayed here 179 or 181 days. my wife does my tax return since 10+ years for me. she is using always my pink id card, never had any problems ... Edited June 3 by motdaeng spelling 1 Link to comment Share on other sites More sharing options...
JimGant Posted June 3 Share Posted June 3 2 hours ago, petedk said: On 5/30/2024 at 8:22 AM, anchadian said: What if you transfer (Wise) all of your income to your wife or girlfriend’s Thai bank account and withdraw from that account as and when required, would that work? We all trust our wives and GF’s 555 Your wife will be taxed. Why would she be taxed? Her bank account is just your intermediary for receiving funds that you remit to Thailand. Self-assessment says it's you that has the obligation to declare, or not, remitted funds to Thailand as assessable income. These funds certainly aren't your wife's remitted foreign income funds. Link to comment Share on other sites More sharing options...
ukrules Posted June 3 Share Posted June 3 15 hours ago, CallumWK said: Answer: you don't need to prove, we believe you, you don't even need to declare savings. Yeah, they'll decide on the day of the audit and let you know if it's savings or not. If you think they made a mistake and it involves tens of millions of Baht then maybe you can appeal it and it might be worth the fees to do so. 1 Link to comment Share on other sites More sharing options...
Mike Teavee Posted June 3 Share Posted June 3 10 hours ago, JimGant said: Why would she be taxed? Her bank account is just your intermediary for receiving funds that you remit to Thailand. Self-assessment says it's you that has the obligation to declare, or not, remitted funds to Thailand as assessable income. These funds certainly aren't your wife's remitted foreign income funds. To be clear, are you saying that he would be taxed as the ultimate recipient of the money or would be taxed as the sender of the money? E.G. If a friend (not relatived) wired me money, who would be taxed in the following scenarios Tax resident in Thailand wired me 600K THB with a request that I give him 50K pm? Non-tax resident in Thailand wired me 600K THB for spends for a 3 month holiday? Tax resident in Thailand wired me 600K THB out of the goodness of his heart? Non-Tax resident in Thailand wired me 600K THB out of the goodness of his heart? "Fairness" would suggest he would be taxed in scenario 1, nobody would be taxed in scenario 2 & I would be taxed in scenario 3&4. Link to comment Share on other sites More sharing options...
CharlesHolzhauer Posted June 3 Share Posted June 3 19 hours ago, CallumWK said: Just my 2 cents worth. I have spoken with 2 departments of the revenue office in jomtien. First the department which do the collection of the taxes, who because they couldn't answer my questions, directed me to the legal department, where I spoke with the top man. I asked him, how do I prove that what I send over are savings or income. Answer: You don't have to prove, we believe you. Question: If so everyone gonna claim it are savings Answer: Yes but if we do an audit and find it is income, you will be fined. Question: So in such a case, how do I prove that is are savings. Answer: you don't need to prove, we believe you, you don't even need to declare savings. At that point, I thought it was better to let it go It may be helpful to read the 'Introduction to Personal Income Tax in Thailand' <https://aseannow.com/topic/1324294-introduction-to-personal-income-tax-in-thailand/#comment-18857397> in particular THE HONOUR SYSTEM AND PENALTIES . 1 Link to comment Share on other sites More sharing options...
JimGant Posted June 4 Share Posted June 4 2 hours ago, Mike Teavee said: To be clear, are you saying that he would be taxed as the ultimate recipient of the money or would be taxed as the sender of the money? As a tax resident, it's the sender, if the remittance is assessable income, who is responsible for the income tax. There could be a second, unrelated taxable event, if the receiver gets a gift -- or is being paid for a service or product. Link to comment Share on other sites More sharing options...
proton Posted June 4 Share Posted June 4 Transfer gift to wife up to 20 mil a year and or bring in cash, no tax 1 Link to comment Share on other sites More sharing options...
CharlesHolzhauer Posted June 4 Share Posted June 4 5 minutes ago, proton said: Transfer gift to wife up to 20 mil a year and or bring in cash, no tax It may be helpful to read the 'Introduction to Personal Income Tax in Thailand' <https://aseannow.com/topic/1324294-introduction-to-personal-income-tax-in-thailand/#comment-18857397> in particular METHOD OF FUNDS TRANSFER, GIFT TAX - What the Rules Say and UNRESOLVED, CONFLICTING or UNCLEAR ISSUES Point "S" 1 Link to comment Share on other sites More sharing options...
Mike Teavee Posted June 4 Share Posted June 4 1 minute ago, JimGant said: As a tax resident, it's the sender, if the remittance is assessable income, who is responsible for the income tax. There could be a second, unrelated taxable event, if the receiver gets a gift -- or is being paid for a service or product. So any money sent from a Non-Tax resident that is not a gift or payment for a service/product is free from income tax for the receiver? - Doesn't "Feel" right to me. How about, a friend of mine (Works in Thailand, Higher Rate Tax payer) wants to borrow 2Million THB as a Bridging loan, I (Thai Tax Resident) send him 2Million from the UK & he pays me back in the UK when he gets some dividends/capital gains, do I still need to declare the 2Million THB as assessable income even though I won't be seeing any benefit from it? - Feels like he should be the one declaring it as assessable income as ultimately that's where the money is coming from/going to... If not it could be a way for him to pay <25% tax instead of the 35% he'd pay if he remitted it directly Link to comment Share on other sites More sharing options...
JimGant Posted June 4 Share Posted June 4 13 minutes ago, Mike Teavee said: do I still need to declare the 2Million THB as assessable income even though I won't be seeing any benefit from it? Yes. The final purpose for the remitted assessable funds makes no difference to its taxability. [However, the jury is still out on whether or not remitted funds that are a legitimate gift are exempt from income tax.] Link to comment Share on other sites More sharing options...
Mike Teavee Posted June 4 Share Posted June 4 5 minutes ago, JimGant said: Yes. The final purpose for the remitted assessable funds makes no difference to its taxability. [However, the jury is still out on whether or not remitted funds that are a legitimate gift are exempt from income tax.] But If I gave his son in the UK the money, then he (Non Thai Tax Resident) remitted it to his father there would be no tax to pay for anybody? You might be right but again, it doesn't "Feel" right. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now