Some tax filing issues

[Barney13]

I recently tried to print out a statement for each month of 2024 from the Bangkok Bank app, not possible! The app allows only the previous 12 months, ie from march 2024. So I made a trip to the bank to advise them that this is problematic for people wanting to pay taxes, they laughed! The main man then took over the proceedings and advised me that all banks apps are the same, and that for a 2024 statement for each month would cost 200 baht. A nice little earner for the banks! I declined and headed to the tax office, to find out if I had to get a TIN and file (wasn't sure as I had reduced my remittance to under required taxable amount through 2024). Two pieces of interesting info the tax lady gave me were, 1/ people remitting 40k or 65k for visas have to pay taxes, 400k or 800k do not (depending when remitted of course), 2/ there is a 100k baht allowance deduction for expenses (never heard of this one).

[CharlieH]

MOVED to Finance forum

[OJAS]

36 minutes ago, Barney13 said:

to find out if I had to get a TIN and file

 

So what answer did the tax lady give you on this?

 

[NE1]

Why don't you get from March 2024 to Jan 2025 on your app. Then ask for Jan and Feb of 2024 at the bank , okay it will cost you 400 baht for those 2 months , but you will be up tp date and from Jan to Dec 2025 you can get it on your app.

[Barney13]

3 minutes ago, OJAS said:

 

So what answer did the tax lady give you on this?

 

I gave her my approx. remittance which, with deductions, was under the 150k minimum, therefore don't need to file

[Barney13]

4 minutes ago, NE1 said:

Why don't you get from March 2024 to Jan 2025 on your app. Then ask for Jan and Feb of 2024 at the bank , okay it will cost you 400 baht for those 2 months , but you will be up tp date and from Jan to Dec 2025 you can get it on your app.

That's possible, but would only be 200 baht (per print-out, not per month). I knew that I was almost certain to be under the taxable level, therefore didn't need the print-out, but was slightly annoyed to have to pay, why can't the app. go back to whichever month/year you want, total robbery!

[Will B Good]

51 minutes ago, Barney13 said:

1/ people remitting 40k or 65k for visas have to pay taxes, 400k or 800k do not (depending when remitted of course),

 

Sounds promising.....how does the 'depending when remitted' work......does it have to be seen to be tied to an application for a visa extension maybe???? 

[Phulublub]

Just now, Will B Good said:

 

Sounds promising.....how does the 'depending when remitted' work......does it have to be seen to be tied to an application for a visa extension maybe???? 

The 400K/800K just sits here.  Depending on when it was originally remitted will determine whether there may be any tax due, just like all and every other remttance. 

 

What you use any money remitted here for is totally separate from, and irrelevent to, the amount, source, and assessability of those funds for Thai tax..

 

PH

[Will B Good]

2 minutes ago, Phulublub said:

The 400K/800K just sits here.  Depending on when it was originally remitted will determine whether there may be any tax due, just like all and every other remttance. 

 

What you use any money remitted here for is totally separate from, and irrelevent to, the amount, source, and assessability of those funds for Thai tax..

 

PH

 

So I can't transfer that 400k and use it for my living expenses over a 12 month period and just top it back up again tax free?

[WingNut]

1 hour ago, Barney13 said:

The main man then took over the proceedings and advised me that all banks apps are the same, and that for a 2024 statement for each month would cost 200 baht.

It would most likely be a single, consolidated bank statement containing 12 months of data in one statement. 200 Baht fee for the entire 12 month statement. From BBL it usually takes a week or two to get it after you order and pay for it and it will require a second trip to the bank to pick it up once it's ready. It needs to be issued by the BBL head office I believe. 

[topt]

9 minutes ago, Will B Good said:

 

So I can't transfer that 400k and use it for my living expenses over a 12 month period and just top it back up again tax free?

Simplistically no.

However if you only transferred in 400k in a year and you are over 65 then there would be no tax to pay anyhow due to TEDA.

[Barney13]

15 minutes ago, Will B Good said:

 

Sounds promising.....how does the 'depending when remitted' work......does it have to be seen to be tied to an application for a visa extension maybe???? 

Remitted after 1st Jan 2024 will be taxable, also future remittances. Obviously on a personal basis, ie assessabilty.

[anchadian]

Here are the D/A for 2024.

[Barney13]

2 minutes ago, anchadian said:

Here are the D/A for 2024.

Spouse allowance only if she doesn't work. As I said, lady said a 100k expense allowance also, beats me!

[topt]

2 minutes ago, Barney13 said:

Spouse allowance only if she doesn't work. As I said, lady said a 100k expense allowance also, beats me!

the 100k is shown as 50% of Pension Income up to a maximum of 100k. So if you only remit 100k pension income in theory you would only get 50k allowance.

[UWEB]

26 minutes ago, anchadian said:

Here are the D/A for 2024.

Can be even more if you have a Health Insurance (max.25K THB deduction) and Life Insurance (max. 100K THB deduction), if you have both combined max. 100K THB deduction.

[flexomike]

7 minutes ago, UWEB said:

Can be even more if you have a Health Insurance (max.25K THB deduction) and Life Insurance (max. 100K THB deduction), if you have both combined max. 100K THB deduction.

But must be with a Thailand Company

[garygooner]

Another poster remitting more than the 60k/120k threshold, but doesn't need to file due to deductions. Interesting.  

[offset]

20 hours ago, UWEB said:

Can be even more if you have a Health Insurance (max.25K THB deduction) and Life Insurance (max. 100K THB deduction), if you have both combined max. 100K THB deduction.

 

Can you confirm where you see that if Health Insurance includes Life Insurance you can claim 100K THB deduction 

[UWEB]

31 minutes ago, offset said:

 

Can you confirm where you see that if Health Insurance includes Life Insurance you can claim 100K THB deduction 

It's from this source, but you can find it from others like KPMG or others as well

 

https://sherrings.com/personal-tax-deductions-allowances-thailand.html

 

[offset]

But that is separate items, but my Health Insurance is all included, it give different amounts for health, accidents and life cover

[Ben Zioner]

On 2/5/2025 at 3:32 PM, Will B Good said:

Sounds promising.....how does the 'depending when remitted' work......does it have to be seen to be tied to an application for a visa extension maybe???? 

This has always been the case. I think this lady didn't know about the jan 1, 2024 change and stated the old rule: "pax IT on any remittance made during the year of earning". In theory anyone who has be stupid enough to do that is liable for a hefty back tax and fines.

[GmailJen]

On 2/5/2025 at 3:35 PM, Phulublub said:

The 400K/800K just sits here.  Depending on when it was originally remitted will determine whether there may be any tax due, just like all and every other remttance. 

 

What you use any money remitted here for is totally separate from, and irrelevent to, the amount, source, and assessability of those funds for Thai tax..

 

PH

Absolutely correct .   ALL foreigners who spend 180 days or more in Thailand "MUST" obtain a TIN number AND file a tax return .  All one has to do is disclose ALL monenies brought into Thailand during the tax year - preferably showing details ie pension with supporting evidence .   It will be up to the tax office to decide if any taxes due on " assessible " income/monies received !    Very simple really . 

[Jingthing]

7 minutes ago, GmailJen said:

Absolutely correct .   ALL foreigners who spend 180 days or more in Thailand "MUST" obtain a TIN number AND file a tax return .  All one has to do is disclose ALL monenies brought into Thailand during the tax year - preferably showing details ie pension with supporting evidence .   It will be up to the tax office to decide if any taxes due on " assessible " income/monies received !    Very simple really . 

Wrong.

[Presnock]

21 minutes ago, GmailJen said:

Absolutely correct .   ALL foreigners who spend 180 days or more in Thailand "MUST" obtain a TIN number AND file a tax return .  All one has to do is disclose ALL monenies brought into Thailand during the tax year - preferably showing details ie pension with supporting evidence .   It will be up to the tax office to decide if any taxes due on " assessible " income/monies received !    Very simple really . 

wrong, where is the source of ALL foreigners MUST obtain a TN and file a return if over 179 days incountry.  

[JustinCredible]

On 2/5/2025 at 4:21 PM, Barney13 said:

Spouse allowance only if she doesn't work. As I said, lady said a 100k expense allowance also, beats me!

 

Correct.  PLUS Allowance for children under 20 years of age IF you are named on Birth Certificate.

[LudwigK]

Do you really believe???

[JustinCredible]

On 2/6/2025 at 2:05 PM, offset said:

But that is separate items, but my Health Insurance is all included, it give different amounts for health, accidents and life cover

 

To get this allowance you have to give TRO a Certificate from your insurer, showing the total annual premium. My Certificate does not break down the benefits, it just shows the total premium, and was accepted at my local office.

 

[offset]

16 minutes ago, JustinCredible said:

 

To get this allowance you have to give TRO a Certificate from your insurer, showing the total annual premium. My Certificate does not break down the benefits, it just shows the total premium, and was accepted at my local office.

 

 

 

What allowance did they give you

[JustinCredible]

 

3 minutes ago, offset said:

 

 

What allowance did they give you

 

From memory, 60,000 each (wife and one son)