Is money sent to family from outside of Thailand subjected to the new foreign income tax?

[jakow]

Sorry if this is a stupid question. If I'm just sending money for daily living to my wife and children from my US bank account, is that money subjected to the new tax rules for foreign income?

[hotandsticky]

What new tax rule?

[richard_smith237]

1 hour ago, jakow said:

Sorry if this is a stupid question. If I'm just sending money for daily living to my wife and children from my US bank account, is that money subjected to the new tax rules for foreign income?

 

There's a lot of smoke and mirrors, information, misinformation and confusion...

 

But... As I understand it... IF you are 'gifting' your Wife money, then no... 

i.e. IF you can gift her 15 Million Baht per year....  She can spend that on living expenses or however she wishes.

 

Theoretically, you are not supposed to be benefiting from that... but that enters a deeper grey area.

 

 

Now comes the reality... As any expat actually been picked up for sending money from their overseas account to their Thai account, or more so, to their Thai Wife's account ??

 

... When that starts happening, I'll start to give this issue more than a passing moment of thought.

 

 

 

 

[NoDisplayName]

1 hour ago, jakow said:

Sorry if this is a stupid question. If I'm just sending money for daily living to my wife and children from my US bank account, is that money subjected to the new tax rules for foreign income?

 

Depends.....

Where do you live?

Do you benefit?

What is the source of the money?

Is the money assessable?

How much total during the year vs. your TEDA?

[OJAS]

10 hours ago, jakow said:

Sorry if this is a stupid question. If I'm just sending money for daily living to my wife and children from my US bank account, is that money subjected to the new tax rules for foreign income?

 

First and foremost, you need to be a tax resident of Thailand in order for Thai taxation requirements to apply - which means that you will need to stay in Thailand for at least 183 days in any relevant calendar year (it's not crystal clear - to me at any rate - from your posting as to whether you are currently based in Thailand or the USA).

 

Secondly, the source(s) of the income covering your family transfers might then come into play. If exclusively American Social Security payments for instance, these are specifically exempted from being liable to Thai tax as a result of the USA/Thailand Double Taxation Agreement.

 

[topt]

3 hours ago, OJAS said:

which means that you will need to stay in Thailand for at least 183 days in any relevant calendar year

Just a small correction - it is only 180 days.

[fleur3]

3 hours ago, OJAS said:

 

First and foremost, you need to be a tax resident of Thailand in order for Thai taxation requirements to apply - which means that you will need to stay in Thailand for at least 183 days in any relevant calendar year (it's not crystal clear - to me at any rate - from your posting as to whether you are currently based in Thailand or the USA).

 

Secondly, the source(s) of the income covering your family transfers might then come into play. If exclusively American Social Security payments for instance, these are specifically exempted from being liable to Thai tax as a result of the USA/Thailand Double Taxation Agreement.

 

Sending money to some one has two elements. One sending money to some one could be income taxes NOT at the sender but at the receiver. The second element is donation of money. That is a gift so gifttax is relevant.  But in practice gifttax in Thailand is zero unless high value. I expect there is no reason to tax you or your wife. But i am not an expert!

[Porthos]

13 hours ago, richard_smith237 said:

Has any expat actually been picked up for sending money from their overseas account to their Thai account, or more so, to their Thai Wife's account ??

 

In February 2023 a Thai woman was audited because she received gifts of several million baht from her foreign boyfriend. The foreign revenue department had informed the TRD about these transfers. The TRD ruled that the Thai girlfriend does not pay income tax if the unmarried couple lives together as husband and wife. This ruling happened before the remittance tax was implemented. The tax implications for the sender of the money were therefore not addressed.

 

https://www.rd.go.th/64926.html