Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[CharlieKo]

4 hours ago, chiang mai said:

In other words, does the tax system allow individuals to make their own calculations  about whether or not tax is due and lets them decided whether or not to file a return, on the basis of their own findings? e.g. I calculate no tax is due ergo I don't have to file.

 

That is right. The tax system is an honour system. They trust you to make the right deductions. If they have any doubts they will audit you and go through your accounts for up to 10 years. If you are found to be cheating then you will get a hefty fine, maybe prison time. Maybe kicked out the country? 

 

As for a link. I don't have one. It's what I've read on various websites. You might find such info on the Thai Tax Revenue's website?   

[chiang mai]

Just now, CharlieKo said:

 

That is right. The tax system is an honour system. They trust you to make the right deductions. If they have any doubts they will audit you and go through your accounts for up to 10 years. If you are found to be cheating then you will get a hefty fine, maybe prison time. Maybe kicked out the country? 

 

As for a link. I don't have one. It's what I've read on various websites. You might find such info on the Thai Tax Revenue's website?   

Thanks, that sounds like a very plausible answer, plus it was civil too.

[chiang mai]

If the tax system is based on honor, which I believe most self reporting systems are, it doesn't matter whether you file or not, you are open to the same scrutiny. If you did file, the return can be accepted or it can be queried. If you didn't file, the fact that you didn't can be accepted as being there wasn't a need, or, it can be queried. And if it is queried and you didn't file when according to the rules you should have filed, even though there was no tax to pay, you leave yourself open to penalties. Is that pretty much what the correct answer is?

[NoDisplayName]

4 hours ago, chiang mai said:

The question I posed, which still hasn't been answered, is this:

 

The person has assessable income, above the level required to file a tax return but below the level of having to pay tax, once that person's view of the relevant TEDA is taken into account.

 

 

 

There is no official answer yet, but that doesn't really matter, as each local tax office will interpret any grey areas in the rules in their own unique way.  Most reports of in-person visits indicate TRD official says not to file.

 

You seem to be concerned, so just go handle it.  File a null return and relax.  It's fast, it's easy, it's free.

 

March down to your local tax office and demand a TIN if you don't have a pink ID.  Bring your fixed account passbook(s) as evidence to show you NEED to file a return to get several thousand baht in withheld interest refunded.

 

Get your tax number registered in the online system by the provincial tax office.

 

Link your bank account to PromptPay, can be done online with Bangkok Bank.  TRD no longer sends refund checks, PromptPay only.  You may need to open a KrungThai account to receive PromptPay if your bank link uses your mobile number and not your pink ID.

 

Go home and spend fifteen minutes every March filing a null tax return.  A few days later, download the accepted tax return and the official receipt.

[chiang mai]

1 minute ago, NoDisplayName said:

 

There is no official answer yet, but that doesn't really matter, as each local tax office will interpret any grey areas in the rules in their own unique way.  Most reports of in-person visits indicate TRD official says not to file.

 

You seem to be concerned, so just go handle it.  File a null return and relax.  It's fast, it's easy, it's free.

 

March down to your local tax office and demand a TIN if you don't have a pink ID.  Bring your fixed account passbook(s) as evidence to show you NEED to file a return to get several thousand baht in withheld interest refunded.

 

Get your tax number registered in the online system by the provincial tax office.

 

Link your bank account to PromptPay, can be done online with Bangkok Bank.  TRD no longer sends refund checks, PromptPay only.  You may need to open a KrungThai account to receive PromptPay if your bank link uses your mobile number and not your pink ID.

 

Go home and spend fifteen minutes every March filing a null tax return.  A few days later, download the accepted tax return and the official receipt.

Thanks for all of that but I have had a TIN for many years and have filed returns, on and off, for almost 15 years. I was trying to understand if there was an "official" answer, just to fill in the gaps in my understanding. But yes, the overhead of filing when its not strictly necessary, isn't a great hardship or draw on anyone's time, better safe than sorry and all that.

[NoDisplayName]

1 minute ago, chiang mai said:

Thanks for all of that but I have had a TIN for many years and have filed returns, on and off, for almost 15 years. I was trying to understand if there was an "official" answer, just to fill in the gaps in my understanding. But yes, the overhead of filing when its not strictly necessary, isn't a great hardship or draw on anyone's time, better safe than sorry and all that.

 

Don't worry about "official" answers.  They may never come.

 

Cover your butt as you feel necessary to feel comfortable.

 

Now you can head over to the worldwide tax threads for some serious doom porn!