Has anyone asked green and orange Superrich if they are sharing information of

currency exchanges with foreigners with the Thai tax office ?

 

Or has Thai tax office ordered them to see exchanges in 2024 ?

 

I can't reach them by email and have no phone.

 

Follow up question : Which are the best currency exchanges in Chiang Mai/Lampang ? (no banks !)

Thanks

 

 

The paranoia runs deep here.

 

Best exchange in CM is probably Mr. Pierre.

 

https://mrpierre-exchange.com/

Licensed money exchanges require presentation of either Thai ID card or passport if a foreigner. I think the info goes to the Bank of Thailand's database, but would likely be available to the RD.

31 minutes ago, Etaoin Shrdlu said:

Licensed money exchanges require presentation of either Thai ID card or passport if a foreigner. I think the info goes to the Bank of Thailand's database, but would likely be available to the RD.

 

Not arguing with this.

 

However, there's no evidence the TRD actually looks into any currency exchange transactions, then tries to match them to a tax resident, then in turn to any return that that resident may or may not have filed.

 

 

 

2 hours ago, anrcaccount said:

 

Not arguing with this.

 

However, there's no evidence the TRD actually looks into any currency exchange transactions, then tries to match them to a tax resident, then in turn to any return that that resident may or may not have filed.

 

 

 

A more likely scenario would be one in which someone is audited for some other reason and the RD performs a query on the BoT database(s). 

On 1/27/2025 at 12:20 PM, anrcaccount said:

 

Not arguing with this.

 

However, there's no evidence the TRD actually looks into any currency exchange transactions, then tries to match them to a tax resident, then in turn to any return that that resident may or may not have filed.

 

 

 

And not the opposite 

On 1/27/2025 at 9:50 AM, FlorC said:

Has anyone asked green and orange Superrich if they are sharing information of

currency exchanges with foreigners with the Thai tax office ?

 

Or has Thai tax office ordered them to see exchanges in 2024 ?

 

I don't understand your question.

 

If you are looking to pay minimal or zero taxes in Thailand there are Many legal options.

 

1. Transfer when staying in Thailand 179 days or less in a Calendar year.

2. POR 162, Foreign Assessable Income available prior to Jan 1, 2024 may be remitted in 2024 and following years Tax free.

3.Use all exemptions and deductions. Calculate an estimated amount you will remitt in 2024 or following years.  Bring in the total amount exempt in Taxable Income, the remaining needed money in Exempt under POR 162 money.

 

4. Determine how much of the Foreign Income is Not taxed under the Double Tax Agreement with your country.  Bring in more income that is exempt under the DTA, plus you get all the deductions, exemptions under Thai Revenue Codes/Rules, leaving a possible small amount that would be taxed at lower tax rates.

39 minutes ago, J Branche said:

I don't understand your question.

 

If you are looking to pay minimal or zero taxes in Thailand there are Many legal options.

 

1. Transfer when staying in Thailand 179 days or less in a Calendar year.

2. POR 162, Foreign Assessable Income available prior to Jan 1, 2024 may be remitted in 2024 and following years Tax free.

3.Use all exemptions and deductions. Calculate an estimated amount you will remitt in 2024 or following years.  Bring in the total amount exempt in Taxable Income, the remaining needed money in Exempt under POR 162 money.

 

4. Determine how much of the Foreign Income is Not taxed under the Double Tax Agreement with your country.  Bring in more income that is exempt under the DTA, plus you get all the deductions, exemptions under Thai Revenue Codes/Rules, leaving a possible small amount that would be taxed at lower tax rates.

The 2 questions are pretty simple.

 

Assessable Income available prior to Jan 1, 2024

It is all about proving it. 

 

To other posters :

Why would Superrich or other private exchanges share all cash exchanges with BoT ?

10 minutes ago, FlorC said:

The 2 questions are pretty simple.

 

Assessable Income available prior to Jan 1, 2024

It is all about proving it. 

 

To other posters :

Why would Superrich or other private exchanges share all cash exchanges with BoT ?

As another poster has said, the information is available to the TRD if they decide to audit you. Are you feeling lucky?

On 1/27/2025 at 12:20 PM, anrcaccount said:

 

Not arguing with this.

 

However, there's no evidence the TRD actually looks into any currency exchange transactions, then tries to match them to a tax resident, then in turn to any return that that resident may or may not have filed.

 

 

 

If you are worried use atm

1 hour ago, FlorC said:

To other posters :

Why would Superrich or other private exchanges share all cash exchanges with BoT ?

From what I found:

You are dealing with required legal, reporting, anti money laundering requirements to conduct business with and exchange foreign currency with/through banking systems.

 

BOT must follow (Exchange Control Act, Bank of Thailand Act, Anti Money Laundering Office, Local and Foreign Payment System requirements)

 

Why? It is better for their business to comply. More customers, more systems to exchange or transfer money.  A country can freeze or seize transactions they believe are illegal and detrimental to their status on the Global Market.

1 hour ago, FlorC said:

 

 

To other posters :

Why would Superrich or other private exchanges share all cash exchanges with BoT ?

 

Because they are requited by government regulations to do so. Lose license if they don't.

7 minutes ago, kingstonkid said:

If you are worried use atm

 

This will also create a record with the Thai bank that owns the ATM and by extension the BoT.

I am sure they can check, but doubt they will check money exchange history.  What would stop people from having a Thai friend or gf exchange the money?  Or, a friend who is here less then 180 days?

Or, I know people who brought in monies years ago they keep it in a safe in their room and occasionally exchange it.

 

On 1/27/2025 at 11:47 AM, Etaoin Shrdlu said:

Licensed money exchanges require presentation of either Thai ID card or passport if a foreigner. I think the info goes to the Bank of Thailand's database, but would likely be available to the RD.

 

The local exchange that I use because of their excellent rates has never asked me for my passport even when I exchanged 65,000 baht last week. They just ask for a local phone number which I wrote on a piece of paper for them. It could be any number because they never check.

 

SuperRich on the other hand always took a photocopy of my passport before the transaction. My local exchange has slightly better rates than SuperRich and being local I walk there and don't have to catch the MRT to make a transaction.

17 minutes ago, Dexxter said:

 

The local exchange that I use because of their excellent rates has never asked me for my passport even when I exchanged 65,000 baht last week. They just ask for a local phone number which I wrote on a piece of paper for them. It could be any number because they never check.

 

SuperRich on the other hand always took a photocopy of my passport before the transaction. My local exchange has slightly better rates than SuperRich and being local I walk there and don't have to catch the MRT to make a transaction.

which one better rate that superrich ?

On 1/27/2025 at 11:00 AM, TheAppletons said:

Best exchange in CM is probably Mr. Pierre. https://mrpierre-exchange.com/

Mr. Pierre website seems down. 

It is top-rated at 4.8/5.0 .

VK is rated at 4.7/5.0

5 hours ago, FlorC said:

Why would Superrich or other private exchanges share all cash exchanges with BoT ?

Because they don't want to have banking licenses revoked?

20 hours ago, Etaoin Shrdlu said:

 

This will also create a record with the Thai bank that owns the ATM and by extension the BoT.

 

But there is no name or so to prove that the person is here more than 180 would be impossible without a lot of international  work and your home bank giving your info. 

20 hours ago, bkk6060 said:

I am sure they can check, but doubt they will check money exchange history.  What would stop people from having a Thai friend or gf exchange the money?  Or, a friend who is here less then 180 days?

Or, I know people who brought in monies years ago they keep it in a safe in their room and occasionally exchange it.

 

For one , you have to trust them , not for a few baht but for a big amount.

Two : if they exchange for you , it will go on their record and seen as their income and will rocket them past the 150k.

 

You get taxed for bringing money into thailand , so theoreticly , if you bring cash with you in the country , you have to report it , even if not exchanged and leave in you foreign currency.

17 hours ago, Dexxter said:

 

The local exchange that I use because of their excellent rates has never asked me for my passport even when I exchanged 65,000 baht last week. They just ask for a local phone number which I wrote on a piece of paper for them. It could be any number because they never check.

 

SuperRich on the other hand always took a photocopy of my passport before the transaction. My local exchange has slightly better rates than SuperRich and being local I walk there and don't have to catch the MRT to make a transaction.

Great for you , but if you live in nakhon nowhere , there are no exchanges, or bad ones . A walk to them for me is driving to farther provinces like CM.

On 1/29/2025 at 9:29 AM, Dexxter said:

 

The local exchange that I use because of their excellent rates has never asked me for my passport even when I exchanged 65,000 baht last week. They just ask for a local phone number which I wrote on a piece of paper for them. It could be any number because they never check.

 

SuperRich on the other hand always took a photocopy of my passport before the transaction. My local exchange has slightly better rates than SuperRich and being local I walk there and don't have to catch the MRT to make a transaction.

So about taking photocopy of our passport .....we could also then take a picture of the exchange boot person if asked as.... to our defense =....you take copy my i.d.  i do not know what you could do with it ( danger of I,D theft ).... so that is why i like to have an I.D. info of person who has  a copy of my Passport 😊

I think then they would not be so eager to ask a copy ....some yes....  many not !

if refused go to other exchange boot 😏

Nowadays, the orange Superrich (at least the main branch) gives you a real nice receipt with your name if you change money. About the green Superrich, I don't know.

Vasu does it on request.