Thailand to tax residents’ foreign income irrespective of remittance

[Lorry]

1 hour ago, lordgrinz said:

I see a new article on PattayaMail's home page talking about the need to get a TIN during the calendar year 2024, even if you owe nothing.

 

https://www.pattayamail.com/latestnews/news/all-thailands-expatriates-should-register-with-trd-says-tax-expert-478899

This guy owes me 20 minutes or so of my life - his YouTube video was quite useless

[chiang mai]

5 hours ago, lordgrinz said:

I see a new article on PattayaMail's home page talking about the need to get a TIN during the calendar year 2024, even if you owe nothing.

 

https://www.pattayamail.com/latestnews/news/all-thailands-expatriates-should-register-with-trd-says-tax-expert-478899

The article is nothing more than an agent touting for business and much of what is said is wrong, yet again!

 

Foreigners who are tax resident DO NOT automatically require a TIN after becoming tax resident. A TIN is only required if the person is tax resident AND they have assessable income, above the threshold level.

 

Foreigners WILL NOT automatically require the paid assistance of a tax consultant/agent in order to complete a tax return. The forms and instructions are in English and easily within the abilities of anyone even remotely familiar with tax returns. Failing that, the TRD staff are extremely helpful and this forum can also offer non-complex guidance.

 

Where the article is useful is to help explain why different people in different parts of the country have been refused a TIN, the Bangkok headquarters of the TRD has not done a good job in communicating with the regions on the issue of expat tax returns or TIN's.

 

There is other information in the article that is misleading and should be ignored.  For example, nobody knows if the TRD is investigating debit and credit card transactions at this time.

 

The advice to register for a TIN now, regardless of whether or not a tax return is due, because this reduces the risk of an audit later, is preying on fear. If you conduct your tax affairs according to the TRD rules, you only need a TIN when the criteria already mentioned, are met.