I have a SCB Easy account set up so no tax is deducted or perhaps no tax deducted if my yearly interest is less than 20K baht.

 

Just noticed that my December interest payment was paid and then immediately reversed.  I can't read Thai well but the same note is with the interest payment and the removel of the exact same amount seconds later.

 

I'll go into a branch and ask about but before I do so I want to find out if anyone else had this issue with their December interest payment.  This happened on December 25th.

23 minutes ago, shortstop2 said:

ust noticed that my December interest payment was paid and then immediately reversed.  I can't read Thai well but the same note is with the interest payment and the removel of the exact same amount seconds later.

I just checked mine and everything is normal.  On the phone app the interest entry is described in English as "Interest/Tax - OTHERS"

On my SCB statement the DESC: จากระบบเงินฝาก for the interest payment translates to From the deposit system.

Mine shows on Christmas day the interest credited and seperate entry for tax deducted (from the interest)

2 hours ago, Chivas said:

Mine shows on Christmas day the interest credited and seperate entry for tax deducted (from the interest)

Thanks. Was the deduction the exact same amount as the interest?

16 hours ago, shortstop2 said:

Thanks. Was the deduction the exact same amount as the interest?

 

No

I didnt check the percentage but bear with me while I check.....SCB doesnt allow screenshot so will have to add in manually

 

Edited

 

Credit was 547

Debit was 82

 

Yes 15%

 

I've ignored the satang

I went to SCB today and the teller called a customer service line and the guy said that perhaps my total interest at all banks exceeded 20K baht.  This sounded like he might have been making something up because I figured how would SCB know whether or not someone had other accounts which would bring the total interest over 20K per year.

 

When I got home I checked my other banks and they had also withheld tax in December.  The banks had never withheld tax before because I had jumped through hoops to make sure no tax was being withheld from any of my accounts..

 

So it's possible that individual banks are hooked into a Revenue Dept database and because I earned more than 20K in interest this year or perhaps last year that's the reason tax was withheld.

 

Or perhaps all farangs are now having tax withheld as of December.

 

Even though my interest from all banks is greater than 20K, I won't owe any tax and will get a refund.