The issue is not a question of whether funds are tracked if remitted to Thailand. Obviously that will be the case. Indeed, it is tax evasion (a crime) to attempt otherwise. The issue is the situation where you are counted as a having a Thai account. I appreciate that you are not. But I'm going to explain it anyway because your two question marks suggest you are bewildered by this. The issue is that any movement of money from anywhere to anywhere will result in an autoconversion to Thai baht if your account is Thai based. The autoconversion will almost certainly count as a remittance in Thai tax law (experts are currently seeking clarification from Thailand's tax offices). And that means every satang will count towards your taxable income of that year. For example, you put Euros from Germany into Wise in order to send them to your Hong Kong account. This is then instantly autoconverted. You convert it to Hong Kong dollars and send it on to Hong Kong. Despite this transaction having an appearance and the feel of having nothing to do with Thailand it is likely to count as a taxable remittance under Thai tax law under the new regulations of Wise. Let's provide an example. You earn 30,000 euros in Thailand. You send 400,000 euros to Hong Kong from Germany. It goes nowhere near Thailand. It provides not a single extra satang for your life in Thailand. Your taxable income that year in Thailand will be at least 430,000. That would be an increase of tax payable from roughly 1 million baht to 12 million baht, without you earning even 1 satang more in your office job. These changes then are extremely significant, indeed they are existentially significant, if you are Thai based and if you use Wise as a global linkage mechanism for tax avoidance (not to be confused with tax evasion) and other sensible measures.
