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.

[Delight]

3 hours ago, Benjamin1975 said:

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

 The TRD have to decide to employ an inspectorate- not cheap.

The temptation for the inspectorate to justify it's existence -it will go for the big money.

If you are big money -then maybe you should volunteer.

If caught -150,000 Baht fine.

AS they say -up to you.

[sometimewoodworker]

11 hours 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?

There are various allowances and deductions available along with possible deductions from your countries DTA you tax bill will be some amount under ฿275,000  how much under depends on your personal circumstances it is possible, though unlikely, that you may owe no tax. The TRD has 10 years to decide if they want to audit you (only 3 if you file a return), the penalties for deliberate evasion can be severe and include prison time. One almost immediate action is to hold you in Thailand until they are satisfied that any tax due is paid. Your travel can be restricted, even if you owe no tax, until the TRD happy that your filings, or non filings, are correct and any tax due is paid.

[timendres]

10 hours ago, ukrules said:

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

 

This is important. Most people in your situation have already been taxed. They will need to file the paperwork to show that, but they will owe little or no tax here in Thailand.

 

24 minutes ago, sometimewoodworker said:

There are various allowances and deductions available

 

In my case, I get 190,000 THB for being old. I get up to 100,000 THB as "expenses" computed against 50% of the income. And finally the 60,000 THB allowance everyone gets. In total, a deduction of 350,000 THB - in other words, I would need to report more than that to even begin to owe tax. Then I get to deduct the already paid taxes mentioned above.

 

12 hours ago, Benjamin1975 said:

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

 

As @FritsSikkink mentioned, you are exposing yourself to a potential fine. How would they enforce it? If they get sophisticated enough the revenue department will inform immigration of people not paying their taxes. As @KhunLA pointed out, the banks will be reporting the cash flows. So, when you go to renew the extension....

[Thingamabob]

I strongly suggest, if you wish to continue to pursue your investigation, that you do so with a Thai adviser who is both  experienced and legally qualified to give such advice.