"Foreighn Income" and your Thai Accountant.

[swissie]

Taxation of "foreighn-income" is all the rage here.

 

Why not hire a reputable Thai Accountant, specialising in taxes generally? If Problems arise, refer the Thai Tax Wizards to your Thai Accountant. Under the Motto: "If my Thai Accountant can't handle my Thai taxes, how could I"?

 

Example: I had my Visa-Stuff handled by a Thai Visa Agent. Once immigration discovered some "irregularity". I refered them to my Visa Agent. I never heard anything from immigration in this matter ever again.

 

I am absolutely sure, that such a constellation would also be applicable in connection with "foreighn income". Money well spent, especially if larger amounts are involved.

 

[topt]

Instead of an agent how about getting a new spellchecker - foreign spelling is wrong in the title and twice in the message....doesn't inspire any confidence in the poster if you were unaware of the poster before.........

 

2 hours ago, swissie said:

Example: I had my Visa-Stuff handled by a Thai Visa Agent. Once immigration discovered some "irregularity". I refered them to my Visa Agent. I never heard anything from immigration in this matter ever again.

If you do it yourself perhaps you never have these irregularities...........I would not know..........

[motdaeng]

8 hours ago, topt said:

Instead of an agent how about getting a new spellchecker - foreign spelling is wrong in the title and twice in the message....doesn't inspire any confidence in the poster if you were unaware of the poster before.........

 

are you the spelling police ...  

[Klonko]

16 hours ago, swissie said:

Taxation of "foreighn-income" is all the rage here.

 

Why not hire a reputable Thai Accountant, specialising in taxes generally? If Problems arise, refer the Thai Tax Wizards to your Thai Accountant. Under the Motto: "If my Thai Accountant can't handle my Thai taxes, how could I"?

 

Example: I had my Visa-Stuff handled by a Thai Visa Agent. Once immigration discovered some "irregularity". I refered them to my Visa Agent. I never heard anything from immigration in this matter ever again.

 

I am absolutely sure, that such a constellation would also be applicable in connection with "foreighn income". Money well spent, especially if larger amounts are involved.

 

This is a very good idea. The challenge is to find an accountant who is (1) familiar with your home country and respective DTA, (2) understands foreign language (possibly not English) documents, and  (3) has a good relationship with your local TRD office, which may be difficult to find if you do not reside in Bangkok.

[KhunHeineken]

4 hours ago, Klonko said:

(3) has a good relationship with your local TRD office

A "good relationship" can be bought here, and I don't mean for just 1 hour. 

[zepplin]

On 1/26/2025 at 1:57 PM, Klonko said:

This is a very good idea. The challenge is to find an accountant who is (1) familiar with your home country and respective DTA, (2) understands foreign language (possibly not English) documents, and  (3) has a good relationship with your local TRD office, which may be difficult to find if you do not reside in Bangkok.

That’s why the “plan” from the government will never ever work, way too much hassle involved, no way they have even 5% of the required fully qualified tax specialists who speak all the required languages and know when the remittance was actually earned overseas, make that 1%!!

[Klonko]

1 hour ago, zepplin said:

That’s why the “plan” from the government will never ever work, way too much hassle involved, no way they have even 5% of the required fully qualified tax specialists who speak all the required languages and know when the remittance was actually earned overseas, make that 1%!!

TRD will kindly ask tax residents to prove that remittances are not assessable income or subject to DTA. TRD can request certified translation from languages other than English. Lucky if copies of bank statements and tax invoices suffice and are self explanatory, less lucky if documents are not in English or specific signatures are required (cf. foreign  health insurance). If TRD is not happy with a tax resident's explanation, they can qualify the remittances as tax assessable and declare respective taxes due.
 

The bottle neck will be resources. I would not be surprised if annual remittances below  THB 1-2m will remain under the radar for the time being even if TRD is serious about more tax revenues.

[newbee2022]

On 1/25/2025 at 9:00 PM, swissie said:

Taxation of "foreighn-income" is all the rage here.

 

Why not hire a reputable Thai Accountant, specialising in taxes generally? If Problems arise, refer the Thai Tax Wizards to your Thai Accountant. Under the Motto: "If my Thai Accountant can't handle my Thai taxes, how could I"?

 

Example: I had my Visa-Stuff handled by a Thai Visa Agent. Once immigration discovered some "irregularity". I refered them to my Visa Agent. I never heard anything from immigration in this matter ever again.

 

I am absolutely sure, that such a constellation would also be applicable in connection with "foreighn income". Money well spent, especially if larger amounts are involved.

 

You're joking, aren't you?😳 You really think you can do in Switzerland? No? But in Thailand you can do illegal things? I read the other day about a Swiss on Phuket. Are you related to him?

[swissie]

On 1/27/2025 at 1:59 PM, newbee2022 said:

You're joking, aren't you?😳 You really think you can do in Switzerland? No? But in Thailand you can do illegal things? I read the other day about a Swiss on Phuket. Are you related to him?

Clearly, you have not been living in Thailand for a long time.

[swissie]

On 1/25/2025 at 5:15 PM, topt said:

Instead of an agent how about getting a new spellchecker - foreign spelling is wrong in the title and twice in the message....doesn't inspire any confidence in the poster if you were unaware of the poster before.........

 

If you do it yourself perhaps you never have these irregularities...........I would not know..........

I don't us a "Spellchecker". What I type is what you get.

 

But I am sure your written English, French and Italian is as good as mine. Or better?

 

[swissie]

Not sure if this thread was fully understood by all.

 

It's about TRANSFERRING YOUR RESPONSABILITIES to a Thai professional. Taking the Farang out of the "firing line" of modestly educated "Thai-Officials" that are constantly overwhelmed by new legislation.

 

Not likely available in the deepest of Isaan. But in tourist hubs, yes. All major agreements with the Thai Accountant in writing. All verbal Agreements in Thailand are of no relevance.

 

[Kwaibill]

Well, I am 71 now and must admit not as sharp as I once was. Is US social security direct deposited in Bkk Bank likely to be considered  an assessable remittance? The rest of my income is likewise direct deposited on a quarterly basis and is largely from “qualified dividends” or some such and non-taxable US sources. At any rate  I have gotten a no tax liability result since at least 1999 using both professional tax preparers and the FreeTax app.

Worried that the frequent tax forays in either/both countries are going to bite my marginal retired ass.

[thesetat]

On 1/25/2025 at 9:00 PM, swissie said:

Taxation of "foreighn-income" is all the rage here.

 

Why not hire a reputable Thai Accountant, specialising in taxes generally? If Problems arise, refer the Thai Tax Wizards to your Thai Accountant. Under the Motto: "If my Thai Accountant can't handle my Thai taxes, how could I"?

 

Example: I had my Visa-Stuff handled by a Thai Visa Agent. Once immigration discovered some "irregularity". I refered them to my Visa Agent. I never heard anything from immigration in this matter ever again.

 

I am absolutely sure, that such a constellation would also be applicable in connection with "foreighn income". Money well spent, especially if larger amounts are involved.

 

Quite a statement there. Your tax man Thai or otherwise is not responsible if there is something wrong. You will lose everything if you think this way. You are ultimately liable for what is filed on your taxes. Your tax accountant is only being paid to fill in what you have told him and try to get you the best tax return. He is not responsible for mistakes. He can easily claim you never told him something important or gave the wrong information. So good luck with your theory that you can blame him. 

[soalbundy]

On 1/26/2025 at 7:31 AM, motdaeng said:

 

are you the spelling police ...  

There is no need for poor spelling with a spell checker which most, if not all, computer users have, if a word is red underlined and you don't correct it it's a sign of laziness and disrespect.

[nofarang]

On 1/26/2025 at 7:57 AM, Klonko said:

This is a very good idea. The challenge is to find an accountant who is (1) familiar with your home country and respective DTA, (2) understands foreign language (possibly not English) documents, and  (3) has a good relationship with your local TRD office, which may be difficult to find if you do not reside in Bangkok.

and who has a good understanding of the various tax regulations in the different countries

[statman78]

1 hour ago, Kwaibill said:

Well, I am 71 now and must admit not as sharp as I once was. Is US social security direct deposited in Bkk Bank likely to be considered  an assessable remittance? The rest of my income is likewise direct deposited on a quarterly basis and is largely from “qualified dividends” or some such and non-taxable US sources. At any rate  I have gotten a no tax liability result since at least 1999 using both professional tax preparers and the FreeTax app.

Worried that the frequent tax forays in either/both countries are going to bite my marginal retired ass.

I just came back from my accountant in Bangkok who always handles my US returns.  He now has Thai tax accountants.  US Social Security is not subject to Thai taxes.  It doesn’t matter if it is directly deposited into your Thai account or if it goes into a US account then transferred into a Thai account.

[timendres]

In English, straight from the Revenue Department:

 

     https://www.rd.go.th/fileadmin/download/english_form/030265guide91.pdf

 

If you have less than 120,000THB (220,000THB for married couples) of taxable income, no filing is required.

It is not clear to me, and I will be asking my account soon, if exempt income (say US SS payments) apply to the above.

 

Interestingly, the document states that even non-residents (less than 180days in TH) must file a return if they exceed the above. You will (I believe) not owe tax, but apparently must file. That is going to get messy.

 

Also keep in mind - if your accountant is not a Thai national, they are operating illegally.

Accounting is a restricted occupation.

[Samh]

15 hours ago, swissie said:

I don't us a "Spellchecker". What I type is what you get.

 

But I am sure your written English, French and Italian is as good as mine. Or better?

 

Are we taling about this "I am absolutely sure, that such a constellation would also be applicable in connection with "foreighn income"."

I must admit I was confused. What has a constellation got to do with it. Not interested in the incorrect spelling of foreign.

[MangoKorat]

On 1/25/2025 at 2:00 PM, swissie said:

Why not hire a reputable Thai Accountant, specialising in taxes generally? If Problems arise, refer the Thai Tax Wizards to your Thai Accountant. Under the Motto: "If my Thai Accountant can't handle my Thai taxes, how could I"?

Thailand is not Europe.  Its very difficult to hold a Thai lawyer responsible for any advice they give - so with an accountant, you've no chance.

 

Of course, employing an decent accountant should result in your tax return being correct but I'm pretty sure that if its not - ultimately you will be the one held responsible.

[KhunHeineken]

On 1/30/2025 at 7:41 AM, timendres said:

If you have less than 120,000THB (220,000THB for married couples) of taxable income, no filing is required.

How many expats would be living on 120k / 220k baht?  I would suggest very few.

 

On 1/30/2025 at 7:41 AM, timendres said:

nterestingly, the document states that even non-residents (less than 180days in TH) must file a return if they exceed the above. You will (I believe) not owe tax, but apparently must file. That is going to get messy.

 

Link please. 

 

That basically means everyone who holidays to Thailand, perhaps more than once a year, who has a bank account here, would have to file.  Also, the "snowbirds" who escape the European winter for a few months. 

 

If correct, very messy indeed. 

[swissie]

On 1/30/2025 at 6:39 AM, thesetat said:

Quite a statement there. Your tax man Thai or otherwise is not responsible if there is something wrong. You will lose everything if you think this way. You are ultimately liable for what is filed on your taxes. Your tax accountant is only being paid to fill in what you have told him and try to get you the best tax return. He is not responsible for mistakes. He can easily claim you never told him something important or gave the wrong information. So good luck with your theory that you can blame him. 

Of course the accountant can not be held responsible, if the Farang uses any sort of trickery.

 

In real life: Supply ALL the documents the acccountant requires from you. Have him sighn for every document that he receives from you. Put yourself in a "no fault" position from the very start.

 

After that, if the accountant "goofes-up" something, he can very well be held responsible, especially if he is a certified "Tax specialist" expected to be up to date with current Tax Legislation.

 

After all you are a Farang overwhelmed by a new intransparent "Tax System". Seeking the help of a Thai specialist to comply with "the law of the land" and even willing to pay for it.

 

Even before a Thai judge, the Farang will look good under such circumstances.

[KhunHeineken]

On 1/29/2025 at 4:56 PM, swissie said:

Not sure if this thread was fully understood by all.

 

It's about TRANSFERRING YOUR RESPONSABILITIES to a Thai professional. Taking the Farang out of the "firing line" of modestly educated "Thai-Officials" that are constantly overwhelmed by new legislation.

 

Not likely available in the deepest of Isaan. But in tourist hubs, yes. All major agreements with the Thai Accountant in writing. All verbal Agreements in Thailand are of no relevance.

 

This is exactly what I have done with immigration, and exactly what I will do in relation to this tax policy. 

 

I do not want to have ANY contact with ANY Thai government employees, and I am prepared to pay for the privilege. 

 

The agents can deal with them, at their quoted price.  If anything comes back to me, I'll hand it on the agent and tell them to take care of it. 

 

Of course I will check their work, but if I have the various documents for immigration and the TRD, I consider the job done for the year. 

[swissie]

On 1/31/2025 at 3:17 PM, KhunHeineken said:

This is exactly what I have done with immigration, and exactly what I will do in relation to this tax policy. 

 

I do not want to have ANY contact with ANY Thai government employees, and I am prepared to pay for the privilege. 

 

The agents can deal with them, at their quoted price.  If anything comes back to me, I'll hand it on the agent and tell them to take care of it. 

 

Of course I will check their work, but if I have the various documents for immigration and the TRD, I consider the job done for the year. 

I am so glad that even 1 poster has understood the concept.

 

Everyone look at the number of Posts concerning Farang Taxation in this sub-forum. Chaos total. It will become necessary to "outsource" your risk. Otherwise some minor Tax Officials will have a field day with Farang Taxpayors. Them offering "solutions" in form of "Brown Envelopes". Cheaper to hire an Accountant.

 

As I wrote before:

 

" Of course the accountant can not be held responsible, if the Farang uses any sort of trickery.

 

In real life: Supply ALL the documents the acccountant requires from you. Have him sighn for every document that he receives from you. Put yourself in a "no fault" position from the very start.

 

After that, if the accountant "goofes-up" something, he can very well be held responsible, especially if he is a certified "Tax specialist" expected to be up to date with current Tax Legislation.

 

After all you are a Farang overwhelmed by a new intransparent "Tax System". Seeking the help of a Thai specialist to comply with "the law of the land" and even willing to pay for it.

 

Even before a Thai judge, the Farang will look good under such circumstances".

[KhunHeineken]

18 hours ago, swissie said:

I am so glad that even 1 poster has understood the concept.

 

Everyone look at the number of Posts concerning Farang Taxation in this sub-forum. Chaos total. It will become necessary to "outsource" your risk. Otherwise some minor Tax Officials will have a field day with Farang Taxpayors. Them offering "solutions" in form of "Brown Envelopes". Cheaper to hire an Accountant.

 

As I wrote before:

 

" Of course the accountant can not be held responsible, if the Farang uses any sort of trickery.

 

In real life: Supply ALL the documents the acccountant requires from you. Have him sighn for every document that he receives from you. Put yourself in a "no fault" position from the very start.

 

After that, if the accountant "goofes-up" something, he can very well be held responsible, especially if he is a certified "Tax specialist" expected to be up to date with current Tax Legislation.

 

After all you are a Farang overwhelmed by a new intransparent "Tax System". Seeking the help of a Thai specialist to comply with "the law of the land" and even willing to pay for it.

 

Even before a Thai judge, the Farang will look good under such circumstances".

I already know roughly what tax bill I should have to pay.  It's not so much the "risk" but the run around I will pay to avoid.  Eg. "you need two photocopy this paper, not one." 

 

Also, queues.  As the 31st March nears, foreigners attending TRD Offices will increase.  Not waiting in a queue is all part of the agent's service.  

 

I agree with your point about should there be any "trouble" I will ring the agent and he can speak to either the TRD, or Immigration, or both, but with a certificate stating I have paid some tax, not necessarily the correct amount of tax, but some tax, I am not expecting any problems. 

 

As I have said, in my opinion, if not this year, then in the future, one will need a certificate from the TRD at extension time.  All I am doing this year is trying to pay the least amount of tax for that certificate so there are no nasty, and possibly costly, surprises at extension time. 

 

I try my best to give no government departments here any opportunity to extort money out of me. 

 

The agents charge a set price, and while others are waiting in line at immigration, my 800k is earning more than 5% in my home country, which more than covers the agent's fees, and I'm on the golf course.  

[oldcpu]

On 1/30/2025 at 2:41 PM, timendres said:

Interestingly, the document states that even non-residents (less than 180days in TH) must file a return if they exceed the above

 

 

 I believe for non-residents, that is only for Thai sourced assessable income, and not for remitted foreign income, even if such remitted foreign income is assessable income.

[KhunHeineken]

5 hours ago, oldcpu said:

 

 I believe for non-residents, that is only for Thai sourced assessable income, and not for remitted foreign income, even if such remitted foreign income is assessable income.

Link????

[oldcpu]

16 minutes ago, KhunHeineken said:

Link????

 

https://www.rd.go.th/fileadmin/download/english_form/030265guide91.pdf

 

... by omission (re: foreign income remitted by non-residents) , coupled with the Thai tax code.

[KhunHeineken]

17 hours ago, oldcpu said:

 

https://www.rd.go.th/fileadmin/download/english_form/030265guide91.pdf

 

... by omission (re: foreign income remitted by non-residents) , coupled with the Thai tax code.

Well, there goes the "snowbird" market, and the wealthy repeat holiday makers.  

 

Vietnam awaits their arrival.