Is the tax for incoming transfers in effect as of today,Yes or no?

[sanook 1]

As per today,is incoming transfers to thailand taxed,or still not in effect(mean are they enforcing it)? Yes or no?

[ukrules]

Depends if you're a tax resident or not and nothing is automatic anyway - you would need to declare income the following year and apply any double taxation agreements between countries.

So if you were to move to Thailand now (as in today) it's not possible to stay 180 days as we're already past the cutoff date by 1 day - there's less than 180 days remaining in the year - there's currently 179 days left this year so any day after today is a good day to move to Thailand and send as much money as you want.

You could stay for the rest of the year knowing that you're a non resident, but if you moved last week or last month then it's time to start planning if you want to remit a lot of money earned after Dec 31 2023.
 

[Upnotover]

11 minutes ago, sanook 1 said:

As per today,is incoming transfers to thailand taxed,or still not in effect(mean are they enforcing it)? Yes or no?

No.  Incoming transfers are only potentially taxable and it's up to you to decide that if you are indeed tax resident.  If you decide they are then you can do a self assessment tax return in 2026.

[motdaeng]

1 hour ago, Upnotover said:

No.  Incoming transfers are only potentially taxable and it's up to you to decide that if you are indeed tax resident.  If you decide they are then you can do a self assessment tax return in 2026.

the tax law decide when you become a tax resident ... it isn't up to you ... 

if you residence more than 180 days you will become a tax resident ... if someone has to pay taxes depends on many different factors ...

[KhunLA]

Simple answer ... not to our knowledge, at present, as enforcement of what ever version of law they decide on, hasn't been instituted .... yet.

 

Will the become retroactive to today ... again .. don't think anyone knows.  All depends if you are a tax resident, and if your DTA, exempts said transfer or not.

 

What, when, if and how that will be instituted, is still a big question ... IMHO

 

By now, with info that is available of what may be, most people should know what their tax burden, if any, will be, at least a ball park idea.  Pretty sure I got mine down to, too poor, and not enough that isn't already exempt to worry.

 

When I read these threads, I'm guessing most people never did their own taxes.

[topt]

3 hours ago, sanook 1 said:

mean are they enforcing it)? Yes or no?

What you mean like the helmet law on mc's, or the red light laws at traffic lights or, or take your pick........

It is currently an honour based system as @ukrules mentions. Suggest you read the intro topic if you didn't understand that -

 

[Celsius]

So if my wife transferred say 3 million baht to canada (that money being fully taxed in Thailand) and she wants to transfer that money back in the future, she would have to declare it and pay tax?

 

Lol, Thailand can fully f off 🤣 

[motdaeng]

7 minutes ago, Celsius said:

So if my wife transferred say 3 million baht to canada (that money being fully taxed in Thailand) and she wants to transfer that money back in the future, she would have to declare it and pay tax?

 

Lol, Thailand can fully f off 🤣

 

why would your wife transfer 3 mb to canada and bring it back to thailand?  is something wrong with your wife? 🤔 

 

if your question would be a serious one: under the current law, it would depend on the tax residence at the time of the transfer into thailand / is it safed money before 01. january 2024 / or depends one the DTA if your wife isn't thai .... and so on ... 

 

 

[Celsius]

8 minutes ago, motdaeng said:

 

why would your wife transfer 3 mb to canada and bring it back to thailand?  is something wrong with your wife? 🤔 

 

 

 

I dunno. Why does idiot Farang transfer 10 million baht to thailand to buy a condo only to be destroyed by some earthquake tremor from 1000km away?

 

But to answer your question at least she gets 5% interest in canada while in thailand she would get f all. If she decides to go back to thailand shouldn't she bring the money back?

[Celsius]

2 poor condo owners downvoted my post

[Patong2021]

1 hour ago, Celsius said:

 

I dunno. Why does idiot Farang transfer 10 million baht to thailand to buy a condo only to be destroyed by some earthquake tremor from 1000km away?

 

But to answer your question at least she gets 5% interest in canada while in thailand she would get f all. If she decides to go back to thailand shouldn't she bring the money back?

where does she get 5%?  Some sketchy insitutions offer 3.6% but most 1 year rates are below 3%.

[topt]

1 hour ago, Celsius said:

If she decides to go back to thailand shouldn't she bring the money back?

If she does that when spending less than 180 days in a calendar year in Thailand then should be no issues........

[CallumWK]

The officer of the revenue department in my home country told me that it would be impossible for the revenue department in Thailand to know who transfers money from abroad into Thailand.

The only way for them to know is if they had suspicions and monitored your bank accounts, or you were ratted on.

[Celsius]

30 minutes ago, Patong2021 said:

where does she get 5%?  Some sketchy insitutions offer 3.6% but most 1 year rates are below 3%.

 

Read and weep. Every bank has this promo. Once the promo is over, move money to new bank, credit union whatever...

 

The only things sketchy are your posts 

 

 

[Celsius]

6 minutes ago, Celsius said:

 

Read and weep. Every bank has this promo. Once the promo is over, move money to new bank, credit union whatever...

 

The only things sketchy are your posts 

 

 

 

 

And my cibc account. Enjoy your 1% rate in tightland

 

 

[CallumWK]

3 minutes ago, Celsius said:

 

 

And my cibc account. Enjoy your 1% rate in tightland

 

 

 

That 5% sounds like a wonderful deal, especially if she intends to move the CA$ back to Thailand at one point.

 

[Sheryl]

There is no tax on "incoming transfers" as such.  Whether funds remitted to Thailand are taxable in Thailand  depends on (1) whether you are tax resident in Thailand and (2) source of the funds (e.g. income vs savings, or income that is exempt under a tax treaty etc).

 

 

 

 

[CallumWK]

2 minutes ago, Sheryl said:

There is no tax on "incoming transfers" as such.  Whether funds remitted to Thailand are taxable in Thailand  depends on (1) whether you are tax resident in Thailand and (2) source of the funds (e.g. income vs savings, or income that is exempt under a tax treaty etc).

 

 

 

 

 

I think the main point if they are taxable depends on if you report the transfers to the revenue department, because otherwise there will be a very small chance that they know about the transfer.

There are daily probably thousands of incoming transfers, and nobody is able to keep trace of them

[ronnie50]

6 hours ago, Upnotover said:

No.  Incoming transfers are only potentially taxable and it's up to you to decide that if you are indeed tax resident.  If you decide they are then you can do a self assessment tax return in 2026.

Yes, but has the principle of 'first in first out' been dealt with yet? By that I mean if you transfer money to your Thai bank account from a foreign bank account, with the latter having accumulated savings for many years, it is 'presumably' after-tax savings in your home country.  No idea how you prove that. Attach bank statements from the account from years ago to show how long the money has been there and include an old tax return(s)?

[yozah]

Not really. The <deleted> just threw the possibilty it in the air and now they are silent again. Utter clowns.