Thailand's Expats Urged to Register with TRD for Tax, Says Expert

[webfact]

 

ASEAN NOW image composite for reference only

 

Tax expert Thomas Carden has advised expatriates residing in Thailand for 180 days or more in 2024 to obtain a tax identification number from the Thai Revenue Department (TRD).

 

Addressing members of the Pattaya City Expat Club, Carden emphasised the need for expatriates to register and submit tax forms by the first quarter of 2025, even if they believe they owe no tax, writes Barry Kenyon for Pattaya Mail.

 

Carden clarified that only overseas income transferred to Thailand is relevant for taxation. Issues like pre-taxed pensions and double taxation treaties should also be considered.

 

He warned that failing to register could lead to audits and potential penalties in the future. “If you delay, the financial penalty screws can become tighter and tighter,” he noted.

 

There has been some confusion at local revenue offices due to a lack of information from the TRD head office in Bangkok, making it challenging for expatriates to understand their obligations.

 

Carden advised using professional tax services to navigate the system, as most pensioners on savings may owe little or nothing. Supporting bank or tax documents are unnecessary when submitting the forms.

 

Reflecting on global trends, Carden mentioned that taxing foreign residents has become common worldwide, and it's essential to comply even if no income is remitted to Thailand. He reassured attendees that registration doesn't automatically mean payment is due.

 

Discussing potential changes to Thailand’s tax system, Carden mentioned the speculative nature of shifting from a residence-based tax system to one that includes worldwide income, which would require parliamentary approval.

 

He stressed that while personal income tax enforcement is imminent, it's vital to stay informed and proactive rather than ignore the situation, reported Pattaya Mail.

 

The issue applies to Thais receiving income from overseas as well, highlighting its broad impact.

 

-- 2024-11-07

 

 

[chiang mai]

Many of the statements are invalid or not justified, the TRD doesn't require anyone to obtain a TIN until specific criteria are met, not just tax residency but also remittance of assessable income. And completing a Thai tax form does not automatically mean paying for assistance, it's easily done by the average person or with some help from TRD staff.

[sungod]

Carden drumming up fear and just happens to have a tax advisory business........

 

 

[sqwakvfr]

IRS 1040 is used by TRD now? 

[chiang mai]

1 minute ago, sqwakvfr said:

IRS 1040 is used by TRD now? 

No, not unless the country has been annexed as the 51st state.

[UWEB]

Have tried to register, they just told me don't come back.

[chiang mai]

Just now, UWEB said:

Have tried to register, they just told me don't come back.

TRD has done a poor job of communicating to the regions on this, I think most people accept that is the case.

[gk10012001]

My first trip to the LOS was in 2004 when I was 47.  On the flight home I was outlining my investment strategy and my future plans as I steered my investments to earning the about $2000 USD a month income needed for the retirement visa extensions, etc.   when I got t 50 years old.  I was so enamored with the country.  I since have visited 15 times.  Each year retiring there options got stranger and required more hoops to jump through.  Initially the Retirement income Affidavit from the USA embassy was available.  Then the USA embassy stopped that.  The Elite Visa for convenience was looking good as I could easily afford that but then recently they raised that price and cut back the number of years the basic one was good for.  Now this tax thing.. which nobody knows for sure how that will work or what must be filed, or how disputes will be handled, what documents the Thais may want, IRS tax records, USA tax records and complete 1040 filing packages, how slot jackpots in the USA that were written off by losses , and how stock gains offset by losses will be handled, etc.  It all seems too complex country by country for the Thais to understand and process properly.  So in short now that I am semi retired, I simply won't be in Thailand for more than 180 days.  Not a horrible thing, but it puts a damper on the worth of renting a place for a continuous year for the discount.  Will see how things look next year

[Captain Flack]

A troll post has been removed.

[daveAustin]

1 hour ago, webfact said:

He stressed that while personal income tax enforcement is imminent, it's vital to stay informed and proactive rather than ignore the situation

I think I’ll wait, thanks. Certainly won’t be buying houses and cars again in the near future.  

[chiang mai]

1 minute ago, daveAustin said:

I think I’ll wait, thanks. Certainly won’t be buying houses and cars again in the near future.  

FWIW I agree that everyone should be proactive, but that doesn't mean rushing out to obtain a TIN or buying his or anyone else's tax services. Everyone should understand the issues as they relate to their particular unique  situation and calculate their own exposure to Thai tax using pen and paper. Set up a spread sheet and update it every month with your income and your TEDA and see what the end of the year position looks like, that's sensible.

[EVENKEEL]

I'm curious as to how much Mr Corden paid webfact to have this thread posted. The jackals are coming out of the shadows trying to scare expats.

[sqwakvfr]

1 hour ago, chiang mai said:

No, not unless the country has been annexed as the 51st state.

I was being sarcastic.  If one writes an aritcle about Thai taxies or the TRD then why attach photo of IRS Form 1040.  Or is this just TIT? 

[Aussie999]

Question 1... does saving count as income if transferred from overseas account into a Thai account.. technically savings are not income.

Question 2... how do you get around the 160 day limit.