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!!!

[Njoku]

Went to the chon buri revenue department yesterday and filed my tax report, Australian, age pension, shown amount coming in on bank statement plus a sum of money we used to purchase some land, a couple of deposits into my account from my TGF and 2 deposits from my hospital cover/insurance.

 

The TGF who is an accountant and handled everything for me told them the sum of money was to purchase land and was from my savings, I was surprised they did not ask to see proof of savings from AU, I had printed out my net bank saving account statement which showed funds had been taken out off a similar amount, I also didnt expect them to accept it if asked and possibly need one direct from my AU bank, to my surprise they asked to see proof of purchase of land, honestly this rocked me, we live near by so she shot home and copied title and copy of cashiers check and something else, handed it over and that was it, they also added my interest from the 800K sitting in another bank to my taxable figure after deductions, no tax payable then proceeded (as I managed to keep what I shown to bring in under allowable before tax is levied)  to refund me on the interest, which comes at a later date.

 

So the point is they are not all operating the same, English did not appear to be spoken by many but I could be wrong  as the TGF handled it, this is in Pattaya, the savings from overseas was not challenged and really you would think its not there business how you spend your money here so why ask to see title etc, now I dont mind one bit as it could be a headache to get a bank statement direct from my bank in AU because my experience here is they only accept originals, the other point is I do not have a TIN I showed them my pink id card and they showed no interest in it, remains to be seen if they dig through my records and use the number from it, then there was the fact they would not issue a TIN with out me first doing my tax return, again this seems to be not right, anyway was told to return Tuesday to pick up my tax file number.

 

 

[bamnutsak]

33 minutes ago, Njoku said:

no tax payable

 

What was your declared "Assessable Income"?

 

 

 

 

[Njoku]

1 hour ago, bamnutsak said:

 

What was your declared "Assessable Income"?

 

 

 

 

Im not talking amount all you need to know is its below the threshold that you begin to pay tax, there are several given deductions plus zero on the first 150k bhat, stick to that and you dont pay any tax throw in withholding tax which is added to taxable amount off my 800k to show immigration I get a refund.

 

I adjusted how I spend money in this country around end of 2022, not giving details but its not hard to work out, talking to the TGF this morning she affirmed that no two offices work the same (in this I mean immigration and revenue department)  which came as a surprise as its the first time she's admitted the short comings going on in this country, like im sure she faces them too, as the Finacial controller of a decent sized business im sure she gets whacked around like us poor old pensioners here..