Tax Filing Experience: Jomtien [March-2025]

[aldriglikvid]

Hi, 

 

Tax Situation: 

 

- Became a Tax Resident according to the 180 day rule late 2023 

- Transferred a 8 digit number to acquire a condo in early 2024

- Said sum existed, and had been taxed, in 'home country' bank account and brokerage account pre-2024 (2020, 2021, 2022, 2023 etc.) 

- The only income in 2024 is dividends from Thai companies, held in a Thai brokerage - and which withholding tax has already been deducted 

 

From my understanding, there's no assessable income here. (there seems to be contradicting info: if the transfers are sizable enough, they need to be disclosed regardless earned pre-2024?) 

 

Anyhow. Went to the Tax Office today, in Jomtien (Chonburi). I was immediately asked for my banking statements to even process my filing or getting a TIN. She kept hitting this subject, aggressively so, about my banking statements for 2024. Furthermore, she asked if I owned property that I rent out - and if I traded crypto. Hadn't mentioned any of it. Very uncomfortable setting. Essentially, my experience mirrored the most cynical and satirical approach created on this forum. 

 

As I didn't have the banking statements printed (nor wanted to show them), the meeting was over. 

 

I'm now left with two options: 

 

- Not file at all.

 

- Produce end-of-year banking & brokerage statements from my home country and hope that would be sufficient. My hesitation is rather large right now, after the meeting today. 

 

[petermik]

Forget about it...let them contact you 👍

[NoDisplayName]

According to the regulations, if you have zero assessable remitted foreign income, your total assessable income including earnings in Thailand was under 60K baht (120K married), so no need to file or apply for a TIN.

 

I believe from a previous thread you have a rather large investment in Thailand with dividends that would put you over the filing threshold.

 

Your situation is unique, so it may be advisable to contact a tax accountant.  It may be that because withholding tax was deducted at source, you can omit them from your tax filing if NOT requesting a refund, and perhaps not be required to file.  Or maybe not.

 

Or you may find that the dividends received are below your TEDA, and you may be entitled to a full refund of withholding tax for dividends and bank interest, which should cover your accountant fees.

 

You own a condo..........do you have a yellow book and pink ID?  If so, the pink ID number is your TIN.  Have TRD activate it for use in the system, tell them you want to file online to request a refund.  Show them your dividend statement from your Thai broker, not your bank statements or passbooks.

 

             ***OPINION ONLY.  NOT ADVICE.***

[Yumthai]

2 hours ago, aldriglikvid said:

Went to the Tax Office today, in Jomtien (Chonburi).

Do you like gambling?

You have no assessable income as your foreign remittance is from pre-2024 income and you have the "Right to treat the 10% WHT as a final tax and exclude the dividend income from assessable income for personal income tax return filings, for dividend income derived from a Thailand company and 10% WHT is deducted from the dividend".

 

https://sherrings.com/dividend-income-personal-income-tax-thailand.html

 

 

 

[NoDisplayName]

2 hours ago, aldriglikvid said:

Said sum existed, and had been taxed, in 'home country' bank account and brokerage account pre-2024 (2020, 2021, 2022, 2023 etc.) 

 

This is still unclear.

 

"Cash in the bank" prior to 2024 is definitely exempt.  As to other forms of savings, CD's, brokerage accounts.........no guidance has been given.

 

We would hope an account balance or NAV on Dec 31, 2023 would be the valuation, but nobody knows yet. 

 

If cost basis for the sold/remitted funds is purchase price, some of the paid services are advising that any remittances are a percentage of exempt original capital and a percentage taxable capital gains.

 

But no case on this here forum of anyone paying tax on remitted stock sales.  Not yet.

[Ben Zioner]

2 hours ago, aldriglikvid said:

- Not file at all.

That may backfire the first time you have to file a return. Whatever paperwork you avoid now may have to be produced at a later stage.

 

[offset]

Is the interest earned on savings before 2024 in the UK taxable in Thailand 

[aldriglikvid]

 @Yumthai @NoDisplayName@petermik @Ben Zioner

All very helpful. Thanks!

Somewhat disconcerting situation altogether. To the best of my understanding, neither my transfers nor my local dividends (that has been taxed, and I seek no refunds/deductions), are assessable. What has been somewhat unclear to me, and what I essentially tried to settle today, is if it is an obligation to file altogether if no taxes are owned. 

 

The coming two weeks I'll try to get a better understanding if I need to file at all. 


I appreciate that link. If we assume Sherrings is correct here, that pretty much settles it. 

https://sherrings.com/dividend-income-personal-income-tax-thailand.html

[NoDisplayName]

4 minutes ago, aldriglikvid said:

What has been somewhat unclear to me, and what I essentially tried to settle today, is if it is an obligation to file altogether if no taxes are owned. 

 

Local staffers aren't all up to speed.

 

Get a fluent Thai-speaker to call the help line #1161.

 

Explain exactly what you need to know to your helper prior to the call.  Draw pictures with countries and banks with big arrows.

 

Have a list of questions to ask, precisely worded, with a simplified version of the amounts and income types, with a blank line drawn for filling in the given answer.

[Yumthai]

10 hours ago, NoDisplayName said:

Draw pictures with countries and banks with big arrows.

 

Have a list of questions to ask, precisely worded, with a simplified version of the amounts and income types, with a blank line drawn for filling in the given answer.

Sounds like a "How To" educate a 5yo.

[NoDisplayName]

4 hours ago, Yumthai said:

Sounds like a "How To" educate a 5yo.

 

Well, it kinda is.  Folks in this culture think differently.

 

They don't always answer the question asked, but rather give the answer they think you want for an entirely different question.

 

Keep it simple, keep it specific.

 

And even then, standing by while the wifi speaks on the phone and uses circuitous logic to get information is maddening.  Why it requires a 15-minute conversation to ask a simple yes-no question tells me Tolkein must have based Entish on standard Thai.

 

In ancient days, after meeting the Elves, the Ents developed the desire for a spoken language. The language that resulted from this desire was unlike any among the other races of Middle-earth. It was slow, sonorous, agglomerated, repetitive, and extremely long-winded. The lore-masters of the Eldar made no attempt to represent it in writing, as its many vowel-shades and tonal distinctions were far too numerous to do so.

 

 

[NoDisplayName]

15 hours ago, aldriglikvid said:

To the best of my understanding, neither my transfers nor my local dividends (that has been taxed, and I seek no refunds/deductions), are assessable.

 

This link was posted in a different tax thread:
https://taxsummaries.pwc.com/thailand/individual/income-determination

 

Dividend income

Dividends received from a company incorporated in Thailand are subject to withholding tax (WHT) at a flat rate of 10%. A resident of Thailand receiving dividends from companies incorporated in Thailand may elect to exclude this income from the computation of income tax and waive the tax credit referred to in the Other tax credits and incentives section.

 

Interest income

Interest received from bank deposits, loans to finance companies, debentures, and bills issued by a corporate entity is subject to WHT at a flat rate of 15%. Individuals may choose to exclude interest income from other income, in which case they pay the 15% WHT, or they may choose to include such interest income with other income and pay tax according to the PIT rates, in which case the tax withheld at source is credited against the tax liability.

 

 

 

Whether excluding this Thai income from calculations releases you from the technical requirement of filing if over the threshold is unknown.

[arick]

18 hours ago, aldriglikvid said:

Hi, 

 

Tax Situation: 

 

- Became a Tax Resident according to the 180 day rule late 2023 

- Transferred a 8 digit number to acquire a condo in early 2024

- Said sum existed, and had been taxed, in 'home country' bank account and brokerage account pre-2024 (2020, 2021, 2022, 2023 etc.) 

- The only income in 2024 is dividends from Thai companies, held in a Thai brokerage - and which withholding tax has already been deducted 

 

From my understanding, there's no assessable income here. (there seems to be contradicting info: if the transfers are sizable enough, they need to be disclosed regardless earned pre-2024?) 

 

Anyhow. Went to the Tax Office today, in Jomtien (Chonburi). I was immediately asked for my banking statements to even process my filing or getting a TIN. She kept hitting this subject, aggressively so, about my banking statements for 2024. Furthermore, she asked if I owned property that I rent out - and if I traded crypto. Hadn't mentioned any of it. Very uncomfortable setting. Essentially, my experience mirrored the most cynical and satirical approach created on this forum. 

 

As I didn't have the banking statements printed (nor wanted to show them), the meeting was over. 

 

I'm now left with two options: 

 

- Not file at all.

 

- Produce end-of-year banking & brokerage statements from my home country and hope that would be sufficient. My hesitation is rather large right now, after the meeting today. 

 

You don't have to show them any bank statements you don't have to show them any proof of earnings from your condos you don't have to show them any deductions to claim your 30% rebate back. You just tell them the amounts sign your return form pay whatever you want to pay job done.

[Bubbha]

After you have a TIN,  you can file online by yourself.

The Revenue Department has an end-user friendly online site to file.

A Chrome Browser is able to translate the entire process into English.

Determine, to the best of your ability, your assessable income for 2024.

If necessary, find help to do this in the private sector (not the Revenue Department).

You don't need to pay anyone to file once you're determined your assessable income.

Enter your information into the Revenue Department's online site and file. Pay by QR code if you owe taxes. 

Finished. You're a tax resident here (>180 days) and have successfully filed.

If the Revenue Department has questions, they will ask.

Keep good notes and records for this possibility - just like your home country taxes.

I would not expect, or want, the Revenue Department front line staff to advise about evaluating my finances for assessable income.

Or assistance with filing....

I think most would not have that expectation of their home country Revenue Department equivalents. 

 

Search for Revenue Department's online e-file site (efiling.rd.go.th). Right click on Google Chrome and select translate to English

 

For those without a TIN, you can go to the Revenue Department and apply for a TIN.

Just that one task. Nothing else....

You’re not there for their assistance to file your taxes.

You already have someone to do that.

 

 

 

[rough diamond]

34 minutes ago, Bubbha said:

After you have a TIN,  you can file online by yourself.

Do you have a link to their site please.

Also is QR code (whatever that is) the only payment method?

[Mutt Daeng]

11 minutes ago, rough diamond said:

Do you have a link to their site please.

Also is QR code (whatever that is) the only payment method?

 

It's in  @Bubbhas post above

 

47 minutes ago, Bubbha said:

Search for Revenue Department's online e-file site (efiling.rd.go.th). Right click on Google Chrome and select translate to English

 

[timendres]

My situation is not the norm. I have a TIN and filed tax returns for 10 years due to being employed.

Now retired, my social security from the US is not assessable.

I had 90,000 THB of royalty income, which is less than my deductions - so I owe no tax.

I am filing anyway.

Why? Because I am half convinced that within a year or two, you will need to show a tax filing to get an extension.

 

I used the same accountant I have had for years. She completed the form and submitted it for me.

 

That said, I wish every foreigner would go to the revenue department and tie up their resources for hours on end asking the most inane questions known to man. Because I do not think they will get the revenues they think they are going to get, and thus will abandon the experiment post haste.

[NoDisplayName]

23 minutes ago, rough diamond said:

Do you have a link to their site please.

Also is QR code (whatever that is) the only payment method?

 

If you owe tax, or must pay a late filing fee, you can do an online bank transfer, linked from within the tax website.

 

 

[khunPer]

20 hours ago, aldriglikvid said:

- Became a Tax Resident according to the 180 day rule late 2023 

- Transferred a 8 digit number to acquire a condo in early 2024

- Said sum existed, and had been taxed, in 'home country' bank account and brokerage account pre-2024 (2020, 2021, 2022, 2023 etc.) 

- The only income in 2024 is dividends from Thai companies, held in a Thai brokerage - and which withholding tax has already been deducted 

The official tax rules for foreigner's income tax...

 

 

[Presnock]

17 hours ago, aldriglikvid said:

 @Yumthai @NoDisplayName@petermik @Ben Zioner

All very helpful. Thanks!

Somewhat disconcerting situation altogether. To the best of my understanding, neither my transfers nor my local dividends (that has been taxed, and I seek no refunds/deductions), are assessable. What has been somewhat unclear to me, and what I essentially tried to settle today, is if it is an obligation to file altogether if no taxes are owned. 

 

The coming two weeks I'll try to get a better understanding if I need to file at all. 


I appreciate that link. If we assume Sherrings is correct here, that pretty much settles it. 

https://sherrings.com/dividend-income-personal-income-tax-thailand.html

You can contact expattaxesthailand.com and since you just have a basic question, they advertise a 15-minute free consultation and also say that they have an online self check on assessability of incomes.  Not sure if that will work, but it will only cost you a couple of minutes and no money.

[bondjames007]

1 hour ago, rough diamond said:

Do you have a link to their site please.

Also is QR code (whatever that is) the only payment method?

https://efiling.rd.go.th/rd-efiling-web/login

 

 

Register on this site and complete the form online,  no need to visit Tax Office if you have TIN. 

[JontS]

Great thread, lots of good information.

 

This link has helped my understanding, thought I'd share it here.

https://www.thethailandlife.com/expat-tax-thailand

 

[jwest10]

1 hour ago, khunPer said:

The official tax rules for foreigner's income tax...

 

 

No need to fill in a tax form and your personal allowances is 500 K and inxome much less than that!!

[motdaeng]

2 minutes ago, jwest10 said:

No need to fill in a tax form and your personal allowances is 500 K and inxome much less than that!!

 

your reliable source for this claim is .... thanks a lot for your clarification.

[aldriglikvid]

4 hours ago, Bubbha said:

After you have a TIN,  you can file online by yourself.

The Revenue Department has an end-user friendly online site to file.

A Chrome Browser is able to translate the entire process into English.

Determine, to the best of your ability, your assessable income for 2024.

If necessary, find help to do this in the private sector (not the Revenue Department).

You don't need to pay anyone to file once you're determined your assessable income.

Enter your information into the Revenue Department's online site and file. Pay by QR code if you owe taxes. 

Finished. You're a tax resident here (>180 days) and have successfully filed.

If the Revenue Department has questions, they will ask.

Keep good notes and records for this possibility - just like your home country taxes.

I would not expect, or want, the Revenue Department front line staff to advise about evaluating my finances for assessable income.

Or assistance with filing....

I think most would not have that expectation of their home country Revenue Department equivalents. 

 

Search for Revenue Department's online e-file site (efiling.rd.go.th). Right click on Google Chrome and select translate to English

 

For those without a TIN, you can go to the Revenue Department and apply for a TIN.

Just that one task. Nothing else....

You’re not there for their assistance to file your taxes.

You already have someone to do that.

 

 

 

First, I want to send my appreciation for any thoughtful feedback provided. Thanks!

But, perhaps I was a bit unclear in my original post. When I visited the tax branch I initiated the conversation, and asked for repeatedly, that I wanted to acquire a TIN and file my own taxes online. The very first words from the tax lady was:

- "have statements? make transfers?" 

The entire tax office was filled with papers stating "you foreigner? want TIN? need bank statements". 

It was very, very confrontative from the first contact. I'm simply not confident to show this lady a transfer of 10m thb and then, hopefully, receive a TIN. They wanted nothing else but to see my banking statements, northing else was of their interests. 

 

So, appreciate your feedback - but I'm stuck at the "acquire a TIN" row as of now. 

With that said, I stumbled upon the Expat Tax Thailand" website and they can acquire a TIN on my behalf for a fee.

If I acquire a TIN, would I be able to file online immediately - or do that new TIN need to be activated or any way greenlit by the local tax office in advance?