6 hours ago, maichai40 said:

Hi everyone.

I sent from mine oversea account to my thai bank account the 150.000 tax free money this year.

If i send another 150.000 from my oversea bank account to the thai account of my wife here is this also non-taxable (same sender different receiver)?

 

Thanks

What your wife receives from you in her bank account is no income, it's a gift (tax-free up to 20M baht per tax year).

3 hours ago, Yumthai said:

What your wife receives from you in her bank account is no income, it's a gift (tax-free up to 20M baht per tax year).

and here he comes: the thai- tax-expert has spoken ... i thought your a tax refuser ...  

your post / answer is wrong in many ways, as expected ... 

22 hours ago, maichai40 said:

Hi everyone.

I sent from mine oversea account to my thai bank account the 150.000 tax free money this year.

If i send another 150.000 from my oversea bank account to the thai account of my wife here is this also non-taxable (same sender different receiver)?

 

Thanks

 

@maichai40

 

the tax-free amount it is more than only 150K for tax residents (both thai and foreigners are subject to the same laws), it depends on several factors such as: age, type of pension, savings before 31.12.2023, double taxation agreement (DTA), health and life insurance payments (only from thai companies), and so on ...  see the link below:

 

https://aseannow.com/topic/1324294-introduction-to-personal-income-tax-in-thailand/page/3/#findComment-18888130

 

if your wife receives money, the same tax laws apply to her as to you. tax-exempt gifts (maximum 20 million) are subject to specific legal requirements and conditions, which must be clearly proven and documented. simply declaring the money as a gift to the tax office will not work — otherwise, everyone would do the same. the gift topic has also been discussed on this forum ... 

 

6 minutes ago, motdaeng said:

 

@maichai40

 

the tax-free amount it is more than only 150K for tax residents (both thai and foreigners are subject to the same laws), it depends on several factors such as: age, type of pension, savings before 31.12.2023, double taxation agreement (DTA), health and life insurance payments (only from thai companies), and so on ...  see the link below:

 

https://aseannow.com/topic/1324294-introduction-to-personal-income-tax-in-thailand/page/3/#findComment-18888130

 

if your wife receives money, the same tax laws apply to her as to you. tax-exempt gifts (maximum 20 million) are subject to specific legal requirements and conditions, which must be clearly proven and documented. simply declaring the money as a gift to the tax office will not work — otherwise, everyone would do the same. the gift topic has also been discussed on this forum ... 

 

I read your link and was also aware that the gift allowance for wife is a grey area . My doubt is that the 150.000 i would like to send comes from the same sender (me).

If anyone could receive this sum (that poses no problem in any case), i could also send to my son, my friend, etc. I think the tax office would smell a sort of scamming them in that case.

I personally only need to send this 150k to her without possible questions from tax office, and is not pension or income but money is there since years.

14 minutes ago, maichai40 said:

....

I personally only need to send this 150k to her without possible questions from tax office, and is not pension or income but money is there since years.

 

if the money was saved before december 31, 2023, and you can prove it if needed, it’s better to transfer the money to yourself.

 

in the 2024 tax declaration, this saved, non-taxable money could not be listed separately on the forms! the simple solution is just not to include this amount. if there should ever be an audit, which is very unlikely, you can prove that the money was saved before december 31, 2023, which means it’s not subject to taxation ... 

12 hours ago, motdaeng said:

if your wife receives money, the same tax laws apply to her as to you. tax-exempt gifts (maximum 20 million) are subject to specific legal requirements and conditions, which must be clearly proven and documented.

A simple bank statement will be enough to prove that you gift money to your wife. If she's audited and a more formal statement is required you can write a nice letter stating: "This date I give my wife XXX baht. Attached the bank transfer receipt." This is perfectly legal and sufficient.

 

12 hours ago, motdaeng said:

simply declaring the money as a gift to the tax office will not work — otherwise, everyone would do the same.

Under Thai law, receivers do not have to declare gifts unless it's over the yearly threshold, gifters do not have to declare gifts in any way.

 

It appears that everybody gifts their spouse/ascendant/descendant/relative/friend... in Thailand but you and few scared souls.

14 hours ago, motdaeng said:

 

@maichai40

 

the tax-free amount it is more than only 150K for tax residents (both thai and foreigners are subject to the same laws), it depends on several factors such as: age, type of pension, savings before 31.12.2023, double taxation agreement (DTA), health and life insurance payments (only from thai companies), and so on ...  see the link below:

 

https://aseannow.com/topic/1324294-introduction-to-personal-income-tax-in-thailand/page/3/#findComment-18888130

 

if your wife receives money, the same tax laws apply to her as to you. tax-exempt gifts (maximum 20 million) are subject to specific legal requirements and conditions, which must be clearly proven and documented. simply declaring the money as a gift to the tax office will not work — otherwise, everyone would do the same. the gift topic has also been discussed on this forum ... 

 

 

I see you quoted the thoroughly discredited Mike Lister who has been too afraid to post much less log on since July 2024...lol

 

I would not trust that guy to give me the time of day...Much less re-post his non sense...

 

About the 20 million gift tax exemption..The very wealthy will make sure that exemption is here to stay....

according to a newspaper (bangkok post) article, it looks like the tax pressure could continue to increase. this topic will probably stay relevant for quite some time ... 

 

there are many deniers and haters in this forum who attack members that only share information about tax laws and regulations. i really wonder what problem these few tax-deniers have against sharing some tax-informations ... 

 

as far as i can remember, no one here has ever told or forced anyone to file a tax declaration, but on the other hand, the opponents are strongly trying to show that the entire tax laws shouldn’t be taken seriously and that this nonsense can simply be ignored ... i think times are changing, and ignoring it might not work anymore in the long run. (sorry, but i belong to the younger foreigners and still plan to live here in thailand legally and peacefully for many more years ...) 

7 minutes ago, motdaeng said:

according to a newspaper (bangkok post) article, it looks like the tax pressure could continue to increase. this topic will probably stay relevant for quite some time ... 

 

there are many deniers and haters in this forum who attack members that only share information about tax laws and regulations. i really wonder what problem these few tax-deniers have against sharing some tax-informations ... 

 

as far as i can remember, no one here has ever told or forced anyone to file a tax declaration, but on the other hand, the opponents are strongly trying to show that the entire tax laws shouldn’t be taken seriously and that this nonsense can simply be ignored ... i think times are changing, and ignoring it might not work anymore in the long run. (sorry, but i belong to the younger foreigners and still plan to live here in thailand legally and peacefully for many more years ...) 

I haven't seen any tax deniers as such. But there are some people who support the idea that if you have any reason, such as DTA, LTR, UN pension,  etc., to think that you could be exempt to stay away from the RD offices. That's my attitude for now as I have an LTR and a UN pension. 

11 hours ago, redwood1 said:

I see you quoted the thoroughly discredited Mike Lister

In your eyes (and others on here) perhaps.

Gift tax was extensively debated with other posters taking paid legal advice (from established big Bangkok firms not jump on the bandwagon tax advisory companies) but if people want to ignore the conclusions then up to them.

 

Whilst we haven't heard about much enforcement ( @khunPer an exception) what was posted in the guide was not wrong. Remember it was a guide when most posters knew zero about any of it. The guide enables people to make a more informed choice whether that is to ignore it or not. 

Seems rather murky on facts when it comes to tax and what is correct. I have also been told that you can "gift" your spouse money from your overseas account and that no tax is due on it. Seems there are different views on this and if it IS correct what option on the WISE "list of reasons" for sending funds would one need to select? I would think the closest reason is "Sending money home to family", but that could be argued as it may be for Thai's working in the UK who wish to send money home, no expat Brits. "Gift", or any wording to do with gifting is unavailable, although "Other" shows, but this could just lead to questions!

2 hours ago, Korat88 said:

Seems rather murky on facts when it comes to tax and what is correct. I have also been told that you can "gift" your spouse money from your overseas account and that no tax is due on it. Seems there are different views on this and if it IS correct what option on the WISE "list of reasons" for sending funds would one need to select? I would think the closest reason is "Sending money home to family", but that could be argued as it may be for Thai's working in the UK who wish to send money home, no expat Brits. "Gift", or any wording to do with gifting is unavailable, although "Other" shows, but this could just lead to questions!

if someone thinks declaring their money transfer as a gift is an easy way to avoid paying tax, they shouldn’t be surprised if the TRD doesn’t see it that way ... 

 

 

Spend those winter months in Vietnam and for those who can, move out...no point waiting for the <deleted> to hit the fan and then struggle when everybody will be looking to leave Thailand. 

6 minutes ago, motdaeng said:

if someone thinks declaring their money transfer as a gift is an easy way to avoid paying tax, they shouldn’t be surprised if the TRD doesn’t see it that way ... 

 

I'm not sure the TRD will be taking advice from Expat Tax Thailand when even they have a disclaimer right next to it.

11 minutes ago, Middle Aged Grouch said:

Spend those winter months in Vietnam and for those who can, move out...no point waiting for the <deleted> to hit the fan and then struggle when everybody will be looking to leave Thailand. 

Yep and here is a nice Thai Tax Non Residency Planning Tool (TTNRPT)...

 

https://www.timeanddate.com/date/duration.html

 

Make sure you include the end date.

 

2 hours ago, motdaeng said:

f someone thinks declaring their money transfer as a gift is an easy way to avoid paying tax, they shouldn’t be surprised if the TRD doesn’t see it that way ... 

 

 

Can you get a Thai translation? It will enlighten the millions of Thai people who use gift on a daily basis and are unaware of the severe penalties.

I think time to consider now, if you can, pack and leave if living full time. 

 

If wanting to stay in a warm place for only 6 ot 7 months, try other Asian countries or even other sunny nations like Tenerife, Malta, Spain that can be very pleasant in winter, with much less immigration or bureaucratic hassles compared to Thailand. Booze is far cheaper now in Europe anyhow and the girls are just as hot. 

21 minutes ago, Yumthai said:

Can you get a Thai translation? It will enlighten the millions of Thai people who use gift on a daily basis and are unaware of the severe penalties.

... are you now an comedian ...   

24 minutes ago, Sigmund said:

I think time to consider now, if you can, pack and leave if living full time. 

 

If wanting to stay in a warm place for only 6 ot 7 months, try other Asian countries or even other sunny nations like Tenerife, Malta, Spain that can be very pleasant in winter, with much less immigration or bureaucratic hassles compared to Thailand. Booze is far cheaper now in Europe anyhow and the girls are just as hot. 

It's certain there is much less hassles to immigrate in EU currently, it's all over the news. Not sure it's beneficial in term of security and overall quality of life though.

15 hours ago, motdaeng said:

if someone thinks declaring their money transfer as a gift is an easy way to avoid paying tax, they shouldn’t be surprised if the TRD doesn’t see it that way ... 

 

 

Thank you for this information. Where is it taken from please? I would like to read what other information is shared by the same source. 

 

It seems the report by Mike Lister shares some similar views but it has a lot of "ifs" and "buts"..... Perhaps this bit sums it up: 77) Until the circumstances surrounding Gift Tax and all it entails, becomes more clear, it is critical that anyone wishing to use Gift Tax, seeks professional advice. Note: Because Gift Tax is predominantly a domain of the wealthy and depends to a large extent on local practice, there is a shortage of confirmed information on this subject. One field of thought is that Gift Tax cannot be used to escape Thai tax by Gifting untaxed money from overseas. On the other hand, many Western countries, including the UK, do not tax gifts from overseas. Members wishing to exercise this option should seek qualified advice before using this option to Gift untaxed funds.

3 hours ago, Korat88 said:

Where is it taken from please? I would like to read what other information is shared by the same source. 

 

As mentioned above, it's from Expat Tax Thailand.

 

https://www.expattaxthailand.com/

 

On 1/15/2025 at 10:36 PM, gamb00ler said:

I understand that using an ATM owned by a Thai bank you can choose to allow the Thai bank to do the conversion rather than taking the card processor's rate.  Is that also possible when making a retail purchase?

Often it but it thar might cost yiu an extra 5% or more.

5 hours ago, suzannegoh said:

Often it but it thar might cost yiu an extra 5% or more.

More like a couple of %, but still beneficial for someone taxed at 30% or 35%, actually anything above 1M.

The following might not apply to many but may be of interest to some...my wife has a small number of Bonds and one finishes the end of this month. And the company will no doubt issue another bond, usually BBB+, in the near future. This seems to be how quite a number of company's finance themselves. Companies frequently issue Bond with 4%ish interest

 

So if I transfer money (xKBaht)  to her from the UK, she puts it in a separate account until there is a bond issue and then buys a bond in her name alone,  that should be 100% OK. She will have, on the Bond  Maturity Date (end of this month), an amount of money available for whatever she wants to spends it on ...eg living expenses, and that will be xK Baht less accessible money for me to declare.

 

This should work for a while, and who knows what the future Tax position will be here.

8 minutes ago, PFMills said:

The following might not apply to many but may be of interest to some...my wife has a small number of Bonds and one finishes the end of this month. And the company will no doubt issue another bond, usually BBB+, in the near future. This seems to be how quite a number of company's finance themselves. Companies frequently issue Bond with 4%ish interest

 

So if I transfer money to her from the UK, she puts it in a separate account until there is a bond issue and then buys a bond in her name alone,  that should be 100% OK. She will have, on the Bond  Maturity Date (end of this month), an amount of money available for whatever she wants to spends it on ...eg living expenses..

 

This should work for a while, and who knows what the future Tax position will be here.

your wife (tax resident) as the "money transfer receiver" must/should pay taxes instead of you ... that doesn't make sense to me ... 

12 minutes ago, motdaeng said:

your wife (tax resident) as the "money transfer receiver" must/should pay taxes instead of you ... that doesn't make sense to me ... 

I thought that you could gift you wife up to 20million, is that not the case?  Anyway she would pay a lower tax rate than me as she doesn't work and we survive on my pension etc.  

29 minutes ago, PFMills said:

I thought that you could gift you wife up to 20million, is that not the case?  Anyway she would pay a lower tax rate than me as she doesn't work and we survive on my pension etc.  

 

with many different allowances, the double taxation agreement, etc., many retired foreigners in thailand probably don’t have to pay any taxes at all ... 

 

the tax-free gift (20m) , however, is subject to certain conditions:

 

 

 

 

14 minutes ago, motdaeng said:

 

with many different allowances, the double taxation agreement, etc., many retired foreigners in thailand probably don’t have to pay any taxes at all ... 

 

the tax-free gift (20m) , however, is subject to certain conditions:

 

 

 

 

Thank you ... I had read that.  It looks like I'm going to have to get tax advice, but I want to find out as much as possible before. I know how much my Thai Tax bill will be.  But I don't know exactly how to calculate my Tax Credits.  Do I use my P60 ( the tax shown on that is greater than the tax I owe on the money brough in) or my UK HMRC  filing data. There was money in the UK Bank at the end of 2023, but the bank account in the UK is in joint names. 

1 hour ago, PFMills said:

But I don't know exactly how to calculate my Tax Credits.

You're not alone, TRD neither.

3 hours ago, PFMills said:

So if I transfer money (xKBaht)  to her from the UK, she puts it in a separate account until there is a bond issue and then buys a bond in her name alone,  that should be 100% OK. She will have, on the Bond  Maturity Date (end of this month), an amount of money available for whatever she wants to spends it on ...eg living expenses, and that will be xK Baht less accessible money for me to declare.

 

This should work for a while, and who knows what the future Tax position will be here.

 

Sounds like unrelated income.

 

The gift is tax-free for her, she uses it how she likes for her benefit, in this case investing in bonds.

 

For Thai corporate bonds, she would pay 15% tax on the interest, withheld by the broker holding the bonds, that she should get refunded when she files a tax return.

 

The maths change when you two file together married, but how much are you bringing in, and how much of that is assessable?

 

 

**FOR INFOTAINMENT ONLY.  NOT PROFESSIONAL ADVICE**