My Thai Tax Office Tax Filing Experience...

[InlandSea]

Would the principle on a CD purchased in 2023 be considered non-assessable?

 

[TheAppletons]

1 hour ago, topt said:

Pretty much what should be expected bearing in mind there is no way to record non assessable income on the official forms.

I am however amused that he posted that in the Pub..........very appropriate not.....especially as his basic understanding (other than US SS) appeared flawed.

 

  I don't follow soccer much but I think this is what's commonly referred to as an "own goal."

[jmd8800]

7 hours ago, TallGuyJohninBKK said:

 

You can't rely on a general article and its wording from the Enquirer back in 2023 to accurately reflect all the details and nuances that apply when looking at what particular DTAs spell out.  Thailand has some 60+ DTAs with various countries, and the specifics vary from DTA to DTA. You gotta look at them on an individual country basis.

 

What probably is generally true, from DTA to DTA, is the general notion that if Thailand is entitled to tax some particular income that you've already been taxed for in your home country, that you're generally entitled to claim the home country tax paid as credits against whatever Thai tax a person may owe.

 

To follow up on this, my accountant in the USA told me that any tax that I end up paying to Thailand is deductible from the taxes I pay in the USA. So for some paying here and deducting from your home country might just be a wash. YMMV

[TallGuyJohninBKK]

5 hours ago, InlandSea said:

Would the principle on a CD purchased in 2023 be considered non-assessable?

 

 

Supposedly yes... not because of anything to do with a DTA necessarily, but because of the announced TRD policy to exempt savings that existed pre 12/31/23. Any interest it accrued up thru the end of 2023, to the extent it existed as of 12/31/23, also would be exempt.

 

 

[JimGant]

7 hours ago, InlandSea said:

Would the principle on a CD purchased in 2023 be considered non-assessable?

I would think pre 2024 income used to buy a CD would qualify under Por 162. That some folks, like Expattax Thai, say only savings in a bank account qualifies -- flies in the face of logic: why would Por 162 not cover a near liquid cash account like a CD? Anyway, this will all sort out eventually, I hope.

[JimGant]

2 hours ago, jmd8800 said:

To follow up on this, my accountant in the USA told me that any tax that I end up paying to Thailand is deductible from the taxes I pay in the USA.

True, as long as that deduction is against taxes paid on the same income. Thus, if Thailand charges taxes against your remitted Roth IRA, you couldn't take a tax a deduction against your US taxes -- since there are no US taxes on your Roth. However, if I had remitted Roth income to Thailand in 2024 (or later), Thailand wouldn't tax my Roth, 'cause I wouldn't have even declared it on a tax return, using Por 162 to show my Roth was pre 2024 income -- and thus non assessable.

[jmd8800]

10 hours ago, JimGant said:

True, as long as that deduction is against taxes paid on the same income. Thus, if Thailand charges taxes against your remitted Roth IRA, you couldn't take a tax a deduction against your US taxes -- since there are no US taxes on your Roth. However, if I had remitted Roth income to Thailand in 2024 (or later), Thailand wouldn't tax my Roth, 'cause I wouldn't have even declared it on a tax return, using Por 162 to show my Roth was pre 2024 income -- and thus non assessable.

Thanks.

[Nabbiex]

On 2/11/2025 at 12:33 PM, TallGuyJohninBKK said:

 

That, as a blanket statement, simply is not true....

 

Having a DTA with Thailand doesn't automatically exempt everyone from needing a TIN, filing a Thai tax return or owing Thai taxes.

 

However, having a DTA for one's home country MAY mean that given a particular individual's types of income and amounts remitted into Thailand, that no tax filing is required and/or no taxes will be owed.

 

But that determination is going to depend on a lot of individual factors that require delving into that person's financial details.

 

May I take that it is just your opinion or based on your personal knowledge?

 

In that case, I am not ready to listen anyone regarding Tax Id but this lady is in charge of Phuket Revenue Dept Branch 2. Therefore I must respect her statement saying I do not need it. If any latest updates in near future, I will definitely see her again.     

 

 

[jwest10]

On 2/12/2025 at 6:45 PM, Nabbiex said:

May I take that it is just your opinion or based on your personal knowledge?

 

In that case, I am not ready to listen anyone regarding Tax Id but this lady is in charge of Phuket Revenue Dept Branch 2. Therefore I must respect her statement saying I do not need it. If any latest updates in near future, I will definitely see her again.     

 

 

They all at odds with each other and been advised to not do anything and that is several times by my local Revenue office and see many of my previous posts!!!