Depositing Cash into a Thai Bank Account

[singtho]

Hello, I’d like to deposit 250,000 THB in cash into my Thai bank account at Krungsri. Would this raise any potential tax issues?

[thenewgoo]

If you live here over 180 days then you are considered a tax resident. There has been lots posted about these rules. Despite this, my answer is still I don't know. Thinking of moving some money over too so watching this space.

[Sandboxer]

Assuming this is undeclared cash, depositing it is perfectly "safe" in that your Thai bank has no reporting duty of such a deposit amount to the revenue service.

[singtho]

It's basically cash from selling USDT, which is why I'm hesitant to deposit it. At the same time, keeping it in my condo feels risky, so I'm considering depositing it. 

[HauptmannUK]

No problem at all. My wife and I routinely deposit cash in amounts far greater than that (into Bangkok Bank and SCB). IIRC one time she deposited about 3 million THB and nothing was said.

[singtho]

Thank you so much for your answer!

[henryford1958]

Of course you will declare it as a remittance in 2025 tax return

[bamnutsak]

On 2/8/2025 at 9:59 AM, henryford1958 said:

Of course you will declare it as a remittance in 2025 tax return

 

 

How does one "declare a remittance"?

 

Perhaps it needs to be reviewed to understand if it might qualify as "Assessable Income"?

 

AFAIK there is no procedure form or requirement to declare a remittance.