Revenue Department boss calls on tax residents in Thailand to file 2024 returns by March 31

[spidermike007]

On 1/4/2025 at 10:26 AM, bkk6060 said:

They should but say they refuse too?

 

If so, what will be the consequences?

Fines, past audits? Visa rejected?

Jail or mass deportations?

Good question. The only way they can enforce this is by freezing bank accounts, or making it a requirement of visa renewal. Will they do that? 

[chiang mai]

6 minutes ago, spidermike007 said:

Good question. The only way they can enforce this is by freezing bank accounts, or making it a requirement of visa renewal. Will they do that? 

I think the process is that TRD can make their own assessment of how much tax you owe for any particular year, based on their estimate of what they see. Their assessment is open to challenge at Tribunal but that forces people to file a return. If their challenge fails, they owe the estimated amount, plus interest, plus penalties.

[jesimps]

On 1/4/2025 at 10:28 AM, Sheryl said:

No English language version

 

No way to declare income that is non-assessable under DTA

I read on AN a few months back a lawyer advising that those exempt under the DTA need NOT file a return. As a British ex-government employee, I will take his advice. 

[jesimps]

On 1/4/2025 at 12:51 PM, Sheryl said:

That had been my understanding but the article states all  remittances are declarable.  (Declarable not necessarily assessable...but no way to show that on a tax form). 

I wonder how foreigners, who've been refused a TIN at their local tax office, will manage to declare their remittances?

[Neeranam]

3 hours ago, jwest10 said:

Yes and all of them including Carl Turner of the so-called expats Tax Advisor and have asked where these forms available for down;oad 90 and 91 and the Exemption allowances but no where to be seen and not on the revenue sites.
So we can not file and in any case and do not think we can and asked Carl can he send me some forms and guess what no reply except the link for a so-called 15 minute fee ? video call and can not get it in any case.
What a total farce and everyone hasno clue grrrrrrrrrrrrrrrrr

Never heard of him. If he is a foreigner, he can''t legally give Thai tax advice.

[Will B Good]

1 minute ago, Neeranam said:

Never heard of him. If he is a foreigner, he can''t legally give Thai tax advice.

 

he can''t legally give Thai tax advice......

 

How does that work?

[jwest10]

Just now, Neeranam said:

Never heard of him. If he is a foreigner, he can''t legally give Thai tax advice.

ha ha he is well known and think he is foreigner but they all the same no matter what Nationality!!!

[Neeranam]

15 hours ago, anchadian said:

i've done quite well over the 2024 tax year investing in mutual funds through my Thai bank but wasn't sure if I should include that in my tax return.
I now understand that capital gains within Thailand is tax exempt. Is this correct or should I hold off 'till we get more clarification?

This from KPMG website:

 

2.10 Taxation of investment income and capital gains

Are investment income and capital gains taxed in Thailand? If so, how? Most types of capital gains are taxable as ordinary income. Capital gains from the sale of shares in a company listed on the Stock Exchange of Thailand (if the sale is made through a licensed broker) or from the sale of investment units in a mutual fund are exempt from tax.

I wouldn't include mutual funds gains on tax return. Sales of shares is a bit complicated. 

[chiang mai]

4 minutes ago, Neeranam said:

Never heard of him. If he is a foreigner, he can''t legally give Thai tax advice.

He is part of a Thai based tax advisory service that produces videos and webinars on tax, his material is actually very good. I understand that the company he works for is Thai owned and that the owner is a Thai CPA, presumably he has a work permit, unsure.

 

 

[Neeranam]

4 minutes ago, jwest10 said:

ha ha he is well known and think he is foreigner but they all the same no matter what Nationality!!!

No, they are different, it is illegal for a foreigner to give Thai tax advice for exchange of money. 

[crazykopite]

I already pay UK taxes of which Thailand has an agreement with Soi won’t be filling a return on monies already taxed 

[Neeranam]

This American lawyer is also a Thai citizen.

[Neeranam]

7 minutes ago, crazykopite said:

I already pay UK taxes of which Thailand has an agreement with Soi won’t be filling a return on monies already taxed 

Only a fool would. 

[Neeranam]

24 minutes ago, chiang mai said:

He is part of a Thai based tax advisory service that produces videos and webinars on tax, his material is actually very good. I understand that the company he works for is Thai owned and that the owner is a Thai CPA, presumably he has a work permit, unsure.

 

 

Not only would he need a WP, he would need the appropriate qualifications/licensing as it is a highly regulated activity. What's the name of the company? Are they responsible for spreading this nonsense about retirees need to get a Thai TID?

[The Cyclist]

24 minutes ago, Neeranam said:

This American lawyer is also a Thai citizen.

 

Therefore, it is also possible that Carl wotsisname could also be a Thai Citizen.

[Neeranam]

2 minutes ago, The Cyclist said:

 

Therefore, it is also possible that Carl wotsisname could also be a Thai Citizen.

You could simply do a search in the Royal Gazette

[The Cyclist]

2 minutes ago, Neeranam said:

You could simply do a search in the Royal Gazette

 

Aye, if I was interested, I could. But as I am not, I wont.

[chiang mai]

7 minutes ago, Neeranam said:

Not only would he need a WP, he would need the appropriate qualifications/licensing as it is a highly regulated activity. What's the name of the company? Are they responsible for spreading this nonsense about retirees need to get a Thai TID?

I understand that most of the complaints are aimed at a single expat tax advisor who is well known to AN members and who has a very poor reputation in the community. It was the American tax guy who said in a video that everyone should get a TIN, that's who I'm pretty certain the lawyers comments are aimed at. ExPat Tax and Carl Turner is one of the good guys, again, the information they have provided has been invaluable.

[redwood1]

33 minutes ago, chiang mai said:

He is part of a Thai based tax advisory service that produces videos and webinars on tax, his material is actually very good. I understand that the company he works for is Thai owned and that the owner is a Thai CPA, presumably he has a work permit, unsure.

 

 

 

He may know about taxes but not as good as me....

 

I am thinking about opening my own tax advisory service....

 

And my advice will be to avoid all taxes.......

 

.And I will only charge 9,999.99 baht for my service...You see I knocked off 1 baht so people will think they are getting a deal....

[UKresonant]

So Ben Hart is highlighting (video above) apparently the US IRS is pursuing folk that have not filed. In one of his other video, he notes, they likely did not filed since the are under an exempt amount. The IRS are apparently saying they do not gain the exemption unless they had filed

 

So filing was to essentially claim the exemption in many cases..

[Neeranam]

5 minutes ago, chiang mai said:

xPat Tax and Carl Turner is one of the good guys, again, the information they have provided has been invaluable.

My point is that if these guys  don't have the required professional licenses, they are working illegally and should be reported if they are charging people money. 

One could find out on their website if they do or not.

The Accounting Professions Act mandates that individuals offering accounting and tax services possess a CPA license issued by the Federation of Accounting Professions (TFAC). This entails meeting educational prerequisites, passing examinations, and fulfilling practical experience requirements.

[chiang mai]

2 minutes ago, Neeranam said:

My point is that if these guys  don't have the required professional licenses, they are working illegally and should be reported if they are charging people money. 

One could find out on their website of they do or not.

The Accounting Professions Act mandates that individuals offering accounting and tax services possess a CPA license issued by the Federation of Accounting Professions (TFAC). This entails meeting educational prerequisites, passing examinations, and fulfilling practical experience requirements.

I'm pretty sure you will find that they are licensed as financial and tax advisors, he has been in Asia for a long time and is not unsucessful.

[Neeranam]

Just now, chiang mai said:

I'm pretty sure you will find that they are licensed as financial and tax advisors, he has been in Asia for a long time and is not unsucessful.

It would be quite simple to see if he has a  CPA license issued by the Federation of Accounting Professions (TFAC), if not, he is a charlatan.

[chiang mai]

Just now, Neeranam said:

It would be quite simple to see if he has a  CPA license issued by the Federation of Accounting Professions (TFAC), if not, he is a charlatan.

Feel free to go on a ramage if that's what turns you on, I think you'll find the business is kosher and owned by Thai CPA partners. 

[Neeranam]

 Now I see why these people are spreading fear and lies on forums such as this.  Disgraceful. It takes me no more than 15 minute to do my tax return online. 

Expert Expat

Tax Filing

From
THB 26,000

[chiang mai]

1 minute ago, Neeranam said:

Expert Expat

Tax Filing

From
THB 26,000

Give it a rest, the services start at 7k baht as I recall but there is a top of the line option, which you've shown. You gotta be fair about this neeranam.

[Neeranam]

5 minutes ago, chiang mai said:

Give it a rest, the services start at 7k baht as I recall but there is a top of the line option, which you've shown. You gotta be fair about this neeranam.

I can't see any service for 7k, even then that is a total ripoff.  

[Sheryl]

2 hours ago, The Cyclist said:

 

The issue that I am raising, is that for Thailand to comply with its reporting citeria under CRS in the detection and prevention of tax avoidance / evasion. Then foreigners will have to Report / Declare remitted incomes, to ensure that the appropriate taxes have been paid that are applicable.

 

And certainly the UK - Thai DTA does not say that Gov Pensions are not Reportable / Declarable.

However, Thai tax forms contain no way to declare non-assessable income.

 

Anything declared will be assumed (and treated) as assessable. 

 

Unless this changes, the only reasonable course is to do as many have been told by their RD to do and not declare income which is nonassessable in Thailand.

[chiang mai]

5 minutes ago, Neeranam said:

I can't see any service for 7k, even then that is a total ripoff. 

You're just trying to cause trouble, make upset and make something out of nothing.

 

You found the expert package at 26k but ignored the first one on the list that costs 8K.

 

You also chose to ignore the following:

 

We are authorised and regulated by the
Thailand Federation of Accounting Professions (TFAC)

 

Shame on you!

 

https://www.expattaxthailand.com/services/essential-tax-filing-service-for-expats-in-thailand/

 

 

 

[Sheryl]

21 minutes ago, UKresonant said:

So Ben Hart is highlighting (video above) apparently the US IRS is pursuing folk that have not filed. In one of his other video, he notes, they likely did not filed since the are under an exempt amount. The IRS are apparently saying they do not gain the exemption unless they had filed

 

So filing was to essentially claim the exemption in many cases..

There is no legal requirement to file a US tax return if no taxes owed.