Please, please help me to understand

[Benjamin1975]

I have read and re-read. I have seen video after video and still I don't understand anything. At the moment I am in Thailand to look for a house to rent for February, because I will be moving permanently between the end of January and the beginning of February. My question is about the new taxes rules: once I am here in Thailand, I will have an amount equal to 150,000 thb every month transferred to my Thai account. It is an amount deriving from the rent of my house and my shop. Do I have to fill out the tax form on this amount or am I exempt? Here in Thailand I will not work and I will not have any income other than that from abroad. Thank you.

[Delight]

 If you live in Thailand for 180 days or more in a calendar year -then you will have to declare your income to the TRD (Tax Revenue Dept.)

 

The process requires that you volunteer to your local office.

 

I live in Chonburi . The local TRD being in Jomtien

 

I paid them a visit 

 

They advised that 

 

1) I can only apply  in 2025-and this must be done before 31stMarch 2025

 

2)I must have in my possession  a TM 30 plus copies of passport pages. This will facilitate the  acquisition of a  TIN (Taxation Identity Number)

 

3) The English language is in the main not used.

I speak basic Thai -that helped. If I go again then my Q's will be translated onto word document.

 I am not sure how the volunteers will be press ganged

[Benjamin1975]

1 minute ago, Delight said:

 

 

The process requires that you volunteer to your local office.

 

 

And if I decide not to do it, what would be the consequences? Could they freeze my bank account, for example?

[KhunLA]

Being it's going to be transferred into a Thai bank account, they will know about the funds.  Technically, you are liable for income tax.  How that would be collected, and or info given to TRD is a bit of an unknown now, but rest assured, they will know, and you will have a tax due.

 

Obviously the easiest way would be evidence of taxes paid when renewing / extending any visa at Immigrations every year.

 

This is a good thread, well, first page or 2 before all the silly questions, from people not reading, or knowing their country DTA (dual tax agreement).

 

Has the present income tax per income increments.  150k a month puts you in the higher tax burden of 25% (page 7).  Married & deductions help lowering that.

[Benjamin1975]

2 minutes ago, KhunLA said:

  150k

Its 150,000 thb

[KhunLA]

4 minutes ago, Benjamin1975 said:

Its 150,000 thb

Yes, and read it as such.  (Did an edit while you were typing)

 

150 X 12 = 1.8M, and falls in th 1M-2M income bracket, taxable @ 25%, if I read it correctly, at link provided in my first reply.

 

[Benjamin1975]

3 minutes ago, KhunLA said:

Yes, and read it as such.  (Did an edit while you were typing)

 

150 X 12 = 1.8M, and falls in th 1M-2M income bracket, taxable @ 25%, if I read it correctly, at link provided in my first reply.

 

I have to give them 115,000? Oh gosh.

And if I decide not to do it, what would be the consequences? Could they freeze my bank account, for example?

[KhunLA]

13 minutes ago, Benjamin1975 said:

I have to give them 115,000? Oh gosh.

And if I decide not to do it, what would be the consequences? Could they freeze my bank account, for example?

That would be ~315k tax, as the 115k is base, and need to tax the addition 800k also @ 25%.   Built in was the 150k exempt income, I think.

 

 

 

Of course you need to read your countries DTA to see if that helps, as guessing you home country, if knowing of your income, will be taxing that also.

 

I sure there is some heavy duty fines and or prison for tax evasion, just like any country.

[JohnnyBD]

1 hour ago, Benjamin1975 said:

I have read and re-read. I have seen video after video and still I don't understand anything. At the moment I am in Thailand to look for a house to rent for February, because I will be moving permanently between the end of January and the beginning of February. My question is about the new taxes rules: once I am here in Thailand, I will have an amount equal to 150,000 thb every month transferred to my Thai account. It is an amount deriving from the rent of my house and my shop. Do I have to fill out the tax form on this amount or am I exempt? Here in Thailand I will not work and I will not have any income other than that from abroad. Thank you.

If you move here in Feb 2025 and stay for 180 days or more, then you will become a tax resident in 2025. If you remit assessable income above the filing threshold, you will need to file a tax return for tax year 2025 between Jan 01, 2026 and Mar 31, 2026. You have over a year to figure things out. Enjoy your move...

[FritsSikkink]

1 hour ago, Benjamin1975 said:

I have to give them 115,000? Oh gosh.

And if I decide not to do it, what would be the consequences? Could they freeze my bank account, for example?

You get a huge fine and have to pay interest: Thailand Non-Filing of Tax Returns - SHERRINGS

[ukrules]

2 hours ago, Benjamin1975 said:

Its 150,000 thb

 

The most important consideration here is how much tax has been paid on this 150,000 per month income already?
 

If it's been taxed and you're from a country with a double taxation agreement then things will alter a lot.