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

[Liquorice]

41 minutes ago, DaRoadrunner said:

Like I said, if it goes that way it is time to leave. In my experience it is best to do nothing, wait n see what the Thais do, as often these stupid ideas never come to fruition. Furthermore, if they think they are going to tax my UK pension they are going to get told to shove it where the sun don't shine.

Whilst the UK state pension may be assessable for tax, it's well below the threshold to pay any tax after applying allowances, tax rates and deductions.

I remitted 768,000 in 2024, all assessable, but below the level where any tax will be payable.

[The Cyclist]

3 minutes ago, Yumthai said:

What might TRD further do with that? First identify and extract Thai tax residents (need Immigration data), then compare year to year accounts balances (more or less money provide no clue on transactions), then decide who they want to audit? This is potentially hundreds of thousands audits.

 

Is there really hundreds of thousands of people who fall under CRS jurisdiction tax residents of Thailand ?
 

Extract from that, the people who's income is direct deposited from Government Pension administrators, and others that have income paid direct that are exempt Thai taxation by way of DTA. ( Transfer code will identify them easily )

 

Probably doesn't leave too many that are transfering by other methods.

 

On Monday. There was at least 20 RD employees at desks in an open plan office. I have no idea how many were in the whole building. I was the only person in there.

 

And you are looking at it from the wrong angle. Look at it from the angle of Mohammed ( us ) goes to the mountain ( The RD ) the mountain ( ( RD ) does not go to Mohammed ( us )

[jwest10]

7 minutes ago, Liquorice said:

Whilst the UK state pension may be assessable for tax, it's well below the threshold to pay any tax after applying allowances, tax rates and deductions.

I remitted 768,000 in 2024, all assessable, but below the level where any tax will be payable.

Ni forms and this Carl Turner suggest you try the Revenue Errr they have none available yet again!!!

[jwest10]

10 minutes ago, Liquorice said:

Whilst the UK state pension may be assessable for tax, it's well below the threshold to pay any tax after applying allowances, tax rates and deductions.

I remitted 768,000 in 2024, all assessable, but below the level where any tax will be payable.

500 or 560K in deductions wow you must have a lot of deductions allowable?

[Tony M]

15 minutes ago, Liquorice said:

Whilst the UK state pension may be assessable for tax, it's well below the threshold to pay any tax after applying allowances, tax rates and deductions.

I remitted 768,000 in 2024, all assessable, but below the level where any tax will be payable.

 

Please explain the figures. I have assessed my income at 697,000 thb, and it shows tax due as  7,000 thb.

[chiang mai]

25 minutes ago, Liquorice said:

Whilst the UK state pension may be assessable for tax, it's well below the threshold to pay any tax after applying allowances, tax rates and deductions.

I remitted 768,000 in 2024, all assessable, but below the level where any tax will be payable.

Your TEDA seems very high, are you sure?

[Yumthai]

19 minutes ago, The Cyclist said:

Is there really hundreds of thousands of people who fall under CRS jurisdiction tax residents of Thailand ?
 

Extract from that, the people who's income is direct deposited from Government Pension administrators, and others that have income paid direct that are exempt Thai taxation by way of DTA. ( Transfer code will identify them easily )

 

Probably doesn't leave too many that are transfering by other methods.

You need to take into account not only foreigner residents but also Thai citizens. They may hold tax residences + bank accounts abroad (especially dual nationals) as well, this number could be quite substantial and outweigh foreigners.

 

24 minutes ago, The Cyclist said:

On Monday. There was at least 20 RD employees at desks in an open plan office. I have no idea how many were in the whole building. I was the only person in there.

I've spent extensive time in various TRD offices for corporate tax purposes. 1 on 10 was usually busy with paper stacks all over her desk, the others I'm sure you can imagine how busy they were.

[DrPhibes]

13 hours ago, anrcaccount said:

 

Despite being provided clear information to educate you, you are have difficulty in grasping:

 

• The CRS is not an agreement on tax evasion / compliance. Its purpose is to combat tax evasion, sure, but if/how it does that is unclear.

 

• What it is, is a data sharing agreement, which according to the best sources we have, Thailand has not yet even implemented.  

And for FATCA, Thailand is Tier 1 which means they provide information out but do not get information from the other country the person has an account at in.

[Neeranam]

On 1/7/2025 at 2:14 PM, jwest10 said:

Yes, still no forms 90 and 91 and the Income Exemption one too and this whole issue is getting ridiculous now and frankly appalled with it.

The whole farce was started by foreign media sources and illegal tax agents looking to scam naive old age pensioners, best just to forget about it until immigration say you need some kind of tax clearance. 

[Neeranam]

3 minutes ago, DrPhibes said:

And for FATCA, Thailand is Tier 1 which means they provide information out but do not get information from the other country the person has an account at in.

Interesting, thanks. 

[Presnock]

1 hour ago, DaRoadrunner said:

Long ago one used to have to obtain a tax clearance certificate to leave the country. At the tax office they once assessed me as owing 30,000 Baht. Figures all conjured up in their greedy imagination. I refused to pay and left the country. On the train I encountered the IO who asked where my tax clearance certificate was. He fined me 500 Baht, thereby saving 29,500. Amazing Thailand.

Like I said earlier, within the trd english version there is a lot about the "tax Paid" certificate to exit the country or extend one's stay so it would not be any problem for the revenue folks to pass to immigration once again, the need for an expat to have that certificate for any immigration exit or extension of stay.  The link for the Thai revenue dept has been put on this forum numerous times so just google it.

 

[The Cyclist]

21 minutes ago, Yumthai said:

You need to take into account not only foreigner residents but also Thai citizens. They may hold tax residences + bank accounts abroad (especially dual nationals) as well, this number could be quite substantial and outweigh foreigners.

 

Yumthai, I personally could not care less whether I have to file anything or not.

 

There appears to be many people that are in denial that things are changing, from a tax perspective in Thailand, and the genie isn't going back in the bottle.

 

What happened, or didn't happen in the past is gone. What happens going forward is what counts.

 

In 2023 CRS in Thailand was restricted to

 

Quote

• Accounts held by non-resident individuals.

• Accounts held by non-resident entities.

• Cash value insurance contracts.

• Certain investment vehicles and financial products.

 

 

From Jan 2024, the following were added

 

Quote

Starting in 2024, financial institutions shall expand reporting to include any new and Individual low value accounts.

 

The reporting chain means that banks ( FI's ) have to report to the RD by June 2025 for tax year 2024.

 

The RD need to consolidate and forward their report by September 2025.

 

How does the RD consolidate and forward their reporting obligations under CRS, If tax resident foreigners are not reporting their remitted income ?
 

The banks ( FI's ) can report remiited income. The RD needs to ensure that those remittances are not evading tax and are tax compliant.

 

So big changes will be happening sooner, rather than later, and it is something that we need to prepare for.

[Celsius]

Just now, Neeranam said:

The whole farce was started by foreign media sources and illegal tax agents looking to scam naive old age pensioners, best just to forget about it until immigration say you need some kind of tax clearance. 

 

Yes. What I want to know is this. Are any Russian and Chinese news outlets reporting on this? After all they do represent the majority of long term visitors in Thailand. 

 

The usual Thai bootlickers could point me to at least 1 article or even a forum discussion.

 

Thanks in advance 🥰

[Neeranam]

51 minutes ago, The Cyclist said:

Probably doesn't leave too many that are transfering by other methods.

The majority these days are remitting using cryptocurrencies, and transferring into Thai bank accounts using P2P. 

I know some who buy gold using their foreign credit cards. There are other ways. 

[The Cyclist]

Just now, Neeranam said:

The majority these days are remitting using cryptocurrencies, and transferring into Thai bank accounts using P2P. 

 

The majority of retiree expat tax residents in Thailand are using cryptocurriencies ?
 

Neeranam, your having a laugh.

[Neeranam]

3 minutes ago, The Cyclist said:

Starting in 2024, financial institutions shall expand reporting to include any new and Individual low value accounts.

Reporting to whom and where is this quoted from?

[Presnock]

7 minutes ago, DrPhibes said:

And for FATCA, Thailand is Tier 1 which means they provide information out but do not get information from the other country the person has an account at in.

US probably just matches FBAR with any FACTA info to see if they match or not...but since Thailand only signed on to FACTA a year or two ago while it has been around since 2014 I think.

[The Cyclist]

Just now, Neeranam said:

Reporting to whim and where is this quoted from?

 

There is a big document on CRS on the RD website.

 

It explains the whole process, including the various reporting chains

 

I suggest that people read it.

[Neeranam]

1 minute ago, The Cyclist said:

 

The majority of retiree expat tax residents in Thailand are using cryptocurriencies ?
 

Neeranam, your having a laugh.

I was not talking about retirees, they probably don't know how to buy/send crypto. 

[Presnock]

3 minutes ago, Celsius said:

 

Yes. What I want to know is this. Are any Russian and Chinese news outlets reporting on this? After all they do represent the majority of long term visitors in Thailand. 

 

The usual Thai bootlickers could point me to at least 1 article or even a forum discussion.

 

Thanks in advance 🥰

well I did pass on to this forum last month, ASEAN news and Africannews did an article about the tax scheme which they thought had been approved yet it turned out that only the corportate portion of the Act was approved by the parliament.   

[Presnock]

1 minute ago, The Cyclist said:

 

There is a big document on CRS on the RD website.

 

It explains the whole process, including the various reporting chains

 

I suggest that people read it.

That and FACTA for the Americans if they are not familiar with that.

[The Cyclist]

6 minutes ago, Neeranam said:

I was not talking about retirees, they probably don't know how to buy/send crypto. 

 

Right so how many expats that are not retirees are tax residents of Thailand ?
 

Which is what this thread is mainly about. All the old codgers who are resistant and terrified of change from ' This is the way its always been done '

 

Trying to convince themselves that change will never happen in Thailand.

[chiang mai]

36 minutes ago, Neeranam said:

The whole farce was started by foreign media sources and illegal tax agents looking to scam naive old age pensioners, best just to forget about it until immigration say you need some kind of tax clearance. 

Really, so it wasn't started by the TRD changing the tax rules or the Director telling us to file tax returns, phew, that's a relief. BTw you're Thai are you not, so you have no visa risk, do you!

[StayinThailand2much]

20 hours ago, chiang mai said:

Earnings.

 

Well, if I were to transfer money to Thailand, it would come from my savings... Guess, I'm in the clear then.

[anrcaccount]

53 minutes ago, The Cyclist said:

How does the RD consolidate and forward their reporting obligations under CRS, If tax resident foreigners are not reporting their remitted income ?

 

Have you read any of the replies to your misguided views on CRS that provide the clearly sourced facts?

 

The CRS reporting obligations have NOTHING to with remitted income, nor it being reported to a tax authority. 

 

The CRS obligations are met by the FI' s( banks) sending a single data file with some customer details, aggregate account balances and some specific individual transactions, once a year. In theory, the Thai RD then sends this to the RD's of the participating jurisdictions and vice versa. That's it.

 

This has already been pointed out to you multiple times, but you seem unable to grasp it, and keep posting what is now, frankly, nonsense.

[Neeranam]

26 minutes ago, chiang mai said:

Really, so it wasn't started by the TRD changing the tax rules or the Director telling us to file tax returns, phew, that's a relief. BTw you're Thai are you not, so you have no visa risk, do you!

This is what I don't believe. I've never seen anything in the Thai language media about this guy telling foreign tax residents, who are not working in Thailand, that they must submit tax returns. Prove me wrong. 

[The Cyclist]

Just now, anrcaccount said:

 

Have you read any of the replies to your misguided views on CRS that provide the clearly sourced facts?

 

Yes, and someone's opinion is not fact

 

Try reading the actual CRS documentation. You will find it on the RD website.

 

Which just might be construed as fact and not opinion.

 

59 minutes ago, The Cyclist said:

Starting in 2024, financial institutions shall expand reporting to include any new and Individual low value accounts.

 

 

[Neeranam]

7 minutes ago, StayinThailand2much said:

 

Well, if I were to transfer money to Thailand, it would come from my savings... Guess, I'm in the clear then.

Everyone is going to say that! 

[Liquorice]

1 hour ago, jwest10 said:

500 or 560K in deductions wow you must have a lot of deductions allowable?

1 hour ago, Tony M said:

 

Please explain the figures. I have assessed my income at 697,000 thb, and it shows tax due as  7,000 thb.

1 hour ago, chiang mai said:

Your TEDA seems very high, are you sure?

 

 

 

After applying allowances relevant to my circumstances, then the first 150,000 as 0% tax rated, I'm left with a tax liability of approx 7,500 BHT.

 

However, in your calculations, you appear to be omitting 'tax credits' (further deductibles.)

Any tax you've already paid on those pensions in your home Country can be applied as a 'tax credit' to further reduce your tax liability.

When I apply tax already deducted to my Thai tax liability, then no tax is due.

 

 

[Neeranam]

BTW, if you file your taxes in May, it's much quieter and you only pay 200 baht fine, well worth it, IMHO, if you don't know how to do it online.