Proving that the money I sent to my Thai bank account has been taxed

[CashMoon]

I will send money to my Thai bank account to buy a condo. how do I prove that the money I send is taxed? the money was inherited. we paid tax to the tax office when we inherited the money. Many thanks in advance to anyone who can help.

[Yumthai]

52 minutes ago, CashMoon said:

I will send money to my Thai bank account to buy a condo. how do I prove that the money I send is taxed? the money was inherited. we paid tax to the tax office when we inherited the money. Many thanks in advance to anyone who can help.

If you inherited prior 01/01/2024 then get and keep a personal bank statement showing the money on 31/12/2023. Tax-exempted anytime when remitted in Thailand.

If you inherited after 31/12/2023 then keep all documents proving the inheritance to your name (certificate, receipt, tax/bank statements...). If ever audited by Thai Revenue Department you may need to provide Thai or English translations. Inheritance is tax-exempted and not to be declared up to THB100M.

 

[CashMoon]

13 hours ago, Yumthai said:

If you inherited prior 01/01/2024 then get and keep a personal bank statement showing the money on 31/12/2023. Tax-exempted anytime when remitted in Thailand.

If you inherited after 31/12/2023 then keep all documents proving the inheritance to your name (certificate, receipt, tax/bank statements...). If ever audited by Thai Revenue Department you may need to provide Thai or English translations. Inheritance is tax-exempted and not to be declared up to THB100M.

 

Thank you very much. We put the inheritance in my mother's account to invest the money in interest. The account in my mother's name will send the money to the account in my name in Thailand. Will the receipt in my mother's name be valid for tax declaration? 
 

[Yumthai]

10 hours ago, CashMoon said:

Thank you very much. We put the inheritance in my mother's account to invest the money in interest. The account in my mother's name will send the money to the account in my name in Thailand. Will the receipt in my mother's name be valid for tax declaration? 

If you can document that the individual who receives the money in Thailand is the one who has inherited there is no issue where the money is put.

Anyway, your mother (non tax resident in Thailand) can gift you up to THB20M/year tax-exempted in Thailand. No declaration either.

[CashMoon]

12 hours ago, Yumthai said:

If you can document that the individual who receives the money in Thailand is the one who has inherited there is no issue where the money is put.

Anyway, your mother (non tax resident in Thailand) can gift you up to THB20M/year tax-exempted in Thailand. No declaration either.

Thank you very much. That's the best information I've learned recently.  

[Jeff the Chef]

12 hours ago, Yumthai said:

If you can document that the individual who receives the money in Thailand is the one who has inherited there is no issue where the money is put.

Anyway, your mother (non tax resident in Thailand) can gift you up to THB20M/year tax-exempted in Thailand. No declaration either.

 

Does that apply to anyone who is a non tax resident in Thailand, being able to gift up to THB20M a year, tax exempt, with no declaration?

[Yumthai]

18 minutes ago, Jeff the Chef said:

Does that apply to anyone who is a non tax resident in Thailand, being able to gift up to THB20M a year, tax exempt, with no declaration?

Thai gift rules mention only the giftee as being the one responsible of the tax if any.

To me the tax situation of the gifter is uncorrelated, however some members think the Thai tax resident gifter could be asked to provide evidence (if audited) to have paid tax prior gifting.