Remitting money to Thailand

[salavan]

Just wondering if anyone here knows anything about remitting money to Thai Bank from a foreign country. 

I have an FCD account (foreign currency deposit account). 

Is the money I transfer to that account  from abroad classed as a remittance and taxable while it's still kept in the foreign currency or is it only classed and taxed when it's changed to Thai baht? 

[topt]

11 hours ago, salavan said:

Is the money I transfer to that account  from abroad classed as a remittance and taxable while it's still kept in the foreign currency

My understanding, and there was some discussion in one of the main tax threads last year, is that it counts as a remittance irrespective if in foreign currency or exchanged to baht.

Others may disagree.

 

Whether it is taxable depends on other "qualities" as for all remittances - Eg. if savings from pre 31/12/2023, US SS etc.

As with any remittances it would be up to you to declare it on a tax return if assessable so not automatically taxable.........

[salavan]

19 hours ago, topt said:

My understanding, and there was some discussion in one of the main tax threads last year, is that it counts as a remittance irrespective if in foreign currency or exchanged to baht.

Others may disagree.

 

Whether it is taxable depends on other "qualities" as for all remittances - Eg. if savings from pre 31/12/2023, US SS etc.

As with any remittances it would be up to you to declare it on a tax return if assessable so not automatically taxable.........

How much can a 70 year old remit to Thailand before its taxes

[topt]

9 minutes ago, salavan said:

How much can a 70 year old remit to Thailand before its taxes

If all you want to know are basic allowances you will find them here -

It may be worthwhile to you to read up a bit if you are only just now asking this sort of question..........but up to you.