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

[The Cyclist]

1 minute ago, Yumthai said:

As I mentioned you need to associate rules enforcement level to get the full spectrum of what's in stake, then decide accordingly.

 

No, some people might need to wriggle as long as they can to avoid reporting income.

 

Those that wish to lead a relatively stress free life, will comply with the fairly easy to understand procedures, even it means one day a year becomes a bit of a PITA.

 

Enforcement levels and possible punishments don't really come into it.

[Yumthai]

27 minutes ago, The Cyclist said:

Thai internal taxation policy has nothing to do with foreigners who are tax residents of Thailand reporting income remitted from overseas. This is a requirement of CRS which Thailand has signed up to.

Where does CRS policy require foreigner tax residents to report income remitted from overseas?

[Yumthai]

3 minutes ago, The Cyclist said:

No, some people might need to wriggle as long as they can to avoid reporting income.

 

Those that wish to lead a relatively stress free life, will comply with the fairly easy to understand procedures, even it means one day a year becomes a bit of a PITA.

Sure, to each their own.

[The Cyclist]

Just now, Yumthai said:

Where does CRS policy require foreigner tax residents to report income remitted from overseas?

 

Been through all this about a year ago.

 

So your start point is OECD in conjunction with the G20.

 

Which resulted in a thing called the CRS.

 

Which Thailand has now signed up to and is implimenting, which resulted in the tweak that became effective from 01 Jan 2024.

 

Do your own research.

[Antti]

18 minutes ago, The Cyclist said:

 

And good luck fighting your corner on those if your paperwork is not 100% perfect.

 

Even if your paperwork is 100% perfect a rogue Somchai at RD can decide what they want anyway. IMO unless Thailand gives a blanket exemption for foreigners on foreign income ala Philippines the only truly safe way forward is less than 180 days per year in Thailand. They really shot themselves in the foot with these well planned and organized changes to the tax code..  

[The Cyclist]

2 minutes ago, Antti said:

the only truly safe way forward is less than 180 days per year in Thailand.

 

Yes that is an option.

 

Not worth the expense of bouncing around SE Asia or returning to home Country for 6 months to save maybe 10,000 Baht a year in Thai tax

Edited 4 hours ago by The Cyclist

[Antti]

Just now, The Cyclist said:

 

Yes that is option.

 

Not worth the expense of bouncing around SE Asia or returning to home Country for 6 months to save maybe 10,000 Baht a year in Thai tax

 

In that case yes but not all foreigners in Thailand are so poor that they would only own 10,000 baht in Thai taxes.

[The Cyclist]

1 minute ago, Antti said:

 

In that case yes but not all foreigners in Thailand are so poor that they would only own 10,000 baht in Thai taxes.

 

That is true, then they have the option of paying for Service that will cost between 10,000 and 20,000 baht, and they wont even have to worry about

 

6 minutes ago, Antti said:

Even if your paperwork is 100% perfect a rogue Somchai at RD can decide what they want anyway.

 

You will have to forgive me for batting away all these excuses, mostly from people who appear terrified that they might be on the hook for tax in Thailand.

[Antti]

1 minute ago, The Cyclist said:

 

That is true, then they have the option of paying for Service that will cost between 10,000 and 20,000 baht, and they wont even have to worry about

 

What service are you talking about? You mean the LTR visa? Afaik that is the only way to get tax exemption on foreign income.

[The Cyclist]

1 minute ago, Antti said:

What service are you talking about?

 

A tax accountant, there is a list of them on the forum

 

2 minutes ago, Antti said:

You mean the LTR visa? Afaik that is the only way to get tax exemption on foreign income.

 

Is it

 

So you have never heard of a DTA ?

 

I think this is the point that we say goodbye, permanently.

[Yumthai]

5 minutes ago, chiang mai said:

A stupid response! 

 

How many people insist on understanding the risk and penalties of something before deciding whether to adhere to basic rules and law. Most normal people just want to know what the rules and the law are in the first place, regardless of any associated potential penalties......that's the stage we are at.

So you're basically saying: People, just obey and blindly comply with the rules if you want an easy life. Do not question. Do not challenge. In this world the authority can simply push any (unfair) law without enforcement just because sheep follow anyway.

[chiang mai]

Just now, Yumthai said:

So you're basically saying: People, just obey and blindly comply with the rules if you want an easy life. Do not question. Do not challenge. In this world the authority can simply push any (unfair) law without enforcement just because sheep follow anyway.

 A nice attempt at a diversion but no points! What I wrote is:

 

"Most normal people just want to know what the rules and the law are in the first place, regardless of any associated potential penalties......that's the stage we are at".

 

Back on my ignore list go you. Bye.

[Antti]

4 minutes ago, The Cyclist said:

 

A tax accountant, there is a list of them on the forum

 

 

Is it

 

So you have never heard of a DTA ?

 

I think this is the point that we say goodbye, permanently.

 

Using a tax accountant guarantees nothing. You are still fully liable for everything, just as you would be without one.

 

Always happy to say goodbye permanently to poor losers. One shouldn't hang around such people, online or offline, unless one wants to become one.

[redwood1]

23 minutes ago, Yumthai said:

As I mentioned you need to associate rules enforcement level to get the full spectrum of what's in stake, then decide accordingly.

 

I am not sure about this but a few people have said in some of the many many loooong tax threads that the fine for not filing taxes ( like in you had a job in Thailand )    was 2000 baht.....

 

This makes sense because of the VAST numbers of Thais who do not file taxes  (when they should)  could not afford to pay more...

[Yumthai]

20 minutes ago, The Cyclist said:

Been through all this about a year ago.

 

So your start point is OECD in conjunction with the G20.

 

Which resulted in a thing called the CRS.

 

Which Thailand has now signed up to and is implimenting, which resulted in the tweak that became effective from 01 Jan 2024.

 

Do your own research.

CRS has no link with individuals tax filing requirements.

[KannikaP]

On 11/7/2024 at 7:19 PM, Sheryl said:

Thus was a few years ago. After that I stopped trying to claim ghe witholding back.

 

Office = Prachinburi. 

 

No assessable income.

 

I had to show years worth of credit advices proving remittances ftom abroad.

 

The issue was they did  not believe  I did not work in Thailand.  Endless demands for the "work permit" I do not have and complete incomprehrnsion when I pointed to my retirement extension. Many very personal and intrusive questions.

 

Is being a Moderator on Asean Now not classed as working?

[Yumthai]

13 minutes ago, chiang mai said:

Back on my ignore list go you. Bye.

You have no slot left.

[The Cyclist]

16 minutes ago, Yumthai said:

CRS has no link with individuals tax filing requirements.

 

If that is what you want to believe, crack on.

 

Quote

Thailand, as a participant in this initiative, has implemented CRS reporting requirements to enhance transparency and cooperation in the realm of taxation.

 

Take note of the words " Transparency, cooperation and taxation "

 

Some reading and understanding might benefit you.

 

This might help

 

https://www.rd.go.th/fileadmin/user_upload/FATCA_File/crs/Thailand_CRS_Guidance_280823.pdf

Edited 3 hours ago by The Cyclist
typo

[Yumthai]

1 minute ago, The Cyclist said:

16 minutes ago, Yumthai said:

CRS has no link with individuals tax filing requirements.

 

If that is what you want to believe, crack on.

 

Quote

Thailand, as a participant in this initiative, has implemented CRS reporting requirements to enhance transparency and cooperation in the realm of taxation.

 

Some reading and understanding might benefit you.

 

This might help

 

https://www.rd.go.th/fileadmin/user_upload/FATCA_File/crs/Thailand_CRS_Guidance_280823.pdf

You don't understand CRS.

It's targeting entities - financial institutions - not individuals.

FIs have to collect some information from individuals under certain conditions and report it to their self-reported country(ies) of tax residence. There is nowhere any rule that requires individuals to file a tax return anywhere.

 

[chiang mai]

11 minutes ago, Yumthai said:

You have no slot left.

I keep one in reserve, just for you.

[chiang mai]

24 minutes ago, redwood1 said:

 

I am not sure about this but a few people have said in some of the many many loooong tax threads that the fine for not filing taxes ( like in you had a job in Thailand )    was 2000 baht.....

 

This makes sense because of the VAST numbers of Thais who do not file taxes  (when they should)  could not afford to pay more...

The penalty for not filing when no tax is due, is 2k Baht. The penalties for not filing when tax is due, are severe and include jail.

[Yumthai]

2 minutes ago, chiang mai said:

14 minutes ago, Yumthai said:

You have no slot left.

I keep one in reserve, just for you.

It seems you're reluctant to use it then!

[chiang mai]

Just now, Yumthai said:

It seems you're reluctant to use it then!

You go there for weeks at a time, then I take you off because you start to appear normal once again, you are a veritable yo-yo. Alas there is no permanent cure it seems. 

[Lorry]

1 hour ago, redwood1 said:

When you see the Thais start filing taxes it will be time to file...

I see Thais filing taxes.

And the ones I see not filing taxes, some do worry about taxes.  This is something new, the same people wouldn't know how to spell t-a-x 5 or 10 years ago. 

I have yet to meet a freelancer filing taxes, but I don't discuss taxes with freelancers often.

[Yumthai]

3 minutes ago, chiang mai said:

The penalty for not filing when no tax is due, is 2k Baht. The penalties for not filing when tax is due, are severe and include jail.

Thai jails are full of tax evaders.

[InThailand123]

Why on earth would anyone in their right mind want to notify the Thai taxman when the chances of him looking for Mr Farang is next to nothing.

[The Cyclist]

6 minutes ago, Yumthai said:

You don't understand CRS.

It's targeting entities - financial institutions - not individuals.

 

CRS is intended  to deter and detecttax avoidance by Tax Residents. It targets business entities, financial institutions and tax residents.

 

How can an FI ( Bank ) and the RD sign off on their paperwork as a Reporting Entity if they haven't got a clue what is flowing through the accounts of Tax Resident foreigners ?

 

Do you really think that Thailand came up with all this off their own back ?

[chiang mai]

9 minutes ago, Yumthai said:

Thai jails are full of tax evaders.

Do you have statistics to confirm this?

[InThailand123]

Just now, chiang mai said:

Do you have statistics to confirm this?

He's presumably being sarcastic.

[chiang mai]

2 minutes ago, InThailand123 said:

He's presumably being sarcastic.

You think!

 

The point is that nobody knows, yet people claim this and that, simply because it purports to support their theories....there comes a time to put up or shut up.