May 23May 23 will thailand tax me if i transfer this to a thai bank account? Savings,old income 15+years and some inheritance ifrom Europe,total about 3 m baht. Been in thailand moore than 180 days but not registered as a tax resident.
May 23May 23 Popular Post If you remain at least 180 days in a calendar year in Thailand you are de facto tax resident for this particular year, there is no tax registration. I assume you mean you have never filed a tax return.Your remittances (savings from before 01/01/2024 and inheritance) are tax-exempted, no need to declare it.You may need to provide related documentation if you are ever audited.
May 23May 23 Author 1 hour ago, Yumthai said:If you remain at least 180 days in a calendar year in Thailand you are de facto tax resident for this particular year, there is no tax registration. I assume you mean you have never filed a tax return.Your remittances (savings from before 01/01/2024 and inheritance) are tax-exempted, no need to declare it.You may need to provide related documentation if you are ever audited.Very clear,Thank you so much!
May 23May 23 Popular Post Just to add to it.Any bank interest that was earned after December 31st 2023 on that money I believe is taxable.
May 23May 23 Author Would it make any sense if i do this transaction without being a tax resident(as for now) or being a registered tax resident?
May 24May 24 4 hours ago, John_s said:Would it make any sense if i do this transaction without being a tax resident(as for now) or being a registered tax resident? khun yumthai already gave you the correct answer, whether you are a tax resident or not makes no difference in this case:Your remittances (savings from before 01/01/2024 and inheritance) are tax-exempted, no need to declare it.You may need to provide related documentation if you are ever audited.
May 24May 24 Author I also have some inheritance from this year 2026,would that also be tax exempted?
May 24May 24 21 hours ago, rocketboy2 said:Just to add to it.Any bank interest that was earned after December 31st 2023 on that money I believe is taxable.I assume you are referring to Thai bank interest taxed at source, by the bank, and the account holder must go to their Tax Office to claim it back if appropriate? Edited May 24May 24 by wil iam not
May 24May 24 6 hours ago, John_s said:Would it make any sense if i do this transaction without being a tax resident(as for now) or being a registered tax resident?The outcome is the same: no tax to pay. The only change is, if you are ever audited, foreign money remitted while you are not tax resident is not tax assessable. So just need to prove, if asked, the remittance is not money from local income (typically it came from abroad) to be tax free.Regarding inheritance:"If you are a foreigner with a Permanent Resident (PR) status in Thailand, you are subject to Thai inheritance laws on your global assets. However, if you only hold a temporary/long-stay visa, your inheritance tax obligations typically apply only to assets physically located in Thailand."Inheritance tax only kicks in if the total value of inherited assets exceeds 100 million THB (about US$3M) per heir.Permanent Residents & Thai Citizens: Taxable on assets located both in Thailand and overseas.Non-Residents (Temporary Visas i.e. including non-O/non-B/non-ED/DTV/LTR... it's unrelated to tax residency but visa status): Taxable only on assets situated in Thailand.Tax Rates: If the threshold is exceeded, the excess amount is taxed at 5% for direct ascendants/descendants (e.g., parents or children) and 10% for all other heirs. Spouses are exempt."
May 24May 24 Author 1 hour ago, Yumthai said:The outcome is the same: no tax to pay. The only change is, if you are ever audited, foreign money remitted while you are not tax resident is not tax assessable. So just need to prove, if asked, the remittance is not money from local income (typically it came from abroad) to be tax free.Regarding inheritance:"If you are a foreigner with a Permanent Resident (PR) status in Thailand, you are subject to Thai inheritance laws on your global assets. However, if you only hold a temporary/long-stay visa, your inheritance tax obligations typically apply only to assets physically located in Thailand."Inheritance tax only kicks in if the total value of inherited assets exceeds 100 million THB (about US$3M) per heir.Permanent Residents & Thai Citizens: Taxable on assets located both in Thailand and overseas.Non-Residents (Temporary Visas i.e. including non-O/non-B/non-ED/DTV/LTR... it's unrelated to tax residency but visa status): Taxable only on assets situated in Thailand.Tax Rates: If the threshold is exceeded, the excess amount is taxed at 5% for direct ascendants/descendants (e.g., parents or children) and 10% for all other heirs. Spouses are exempt."Very clear and a big thank you for your help,much appreciated!
May 24May 24 6 hours ago, wil iam not said:I assume you are referring to Thai bank interest taxed at source, by the bank, and the account holder must go to their Tax Office to claim it back if appropriate?No i'm referring to pre 2024 foreign income remitted to Thailand .With foreign interest accumulated after that date. Edited May 24May 24 by rocketboy2
May 24May 24 11 hours ago, rocketboy2 said:No i'm referring to pre 2024 foreign income remitted to Thailand .With foreign interest accumulated after that date.I have been sending remittances to Thailand from UK via WISE for many years previous to 2004, and have never been asked about the source of that money. And as I said in my other post, any interest, yes even 0.5%, is thaxed at source and then you can claim it back at the Tax Office. Well that's how it is for me.
May 25May 25 5 hours ago, wil iam not said:I have been sending remittances to Thailand from UK via WISE for many years previous to 2004, and have never been asked about the source of that money.And as I said in my other post, any interest, yes even 0.5%, is thaxed at source and then you can claim it back at the Tax Office.Well that's how it is for me.I think you have lost the plot.Please read the title of the thread and the op.Good day.
May 25May 25 9 minutes ago, rocketboy2 said:I think you have lost the plot.Please read the title of the thread and the op.Good day. I DID read the title and contents of the OP, which is why I answered as I did. And I have amended the typo 2004 to 2024. So any money earned/obtained/stolen before 01/01/2024 is exempt from any tax, correct?Any bank interest earned, both here or in home country CAN be taxed, with that tax recoverable via the Thai Tax/ Bank? Edited May 25May 25 by wil iam not
May 25May 25 6 hours ago, wil iam not said:I have been sending remittances to Thailand from UK via WISE for many years previous to 2024, and have never been asked about the source of that money.And as I said in my other post, any interest, yes even 0.5%, is taxed at source and then you can claim it back at the Tax Office.Well that's how it is for me.Sorry, meant 2024. Edited May 25May 25 by wil iam not
May 25May 25 Flame and reply removed Arnold Judas Rimmer of Jupiter Mining Corporation Ship Red Dwarf
May 25May 25 31 minutes ago, rocketboy2 said:I think you have lost the plot.Please read the title of the thread and the op.Good day. Does Rupert know that you are using his photo as an avatar on a Thai Forum?I tried to ask you via a PM, but it appears that you do not accept messages. I wonder why. Edited May 25May 25 by wil iam not
June 6Jun 6 Popular Post On 5/23/2026 at 3:30 PM, rocketboy2 said:Any bank interest that was earned after December 31st 2023 on that money I believe is taxable.Not until you exhaust all the monies in that account up to monies earned post 2023. First In, First Out (FIFO) is an acceptable accounting method to address pre 2024 monies; thus, until you drain all that pre 2024 money in your account, any interest earned in 2024, or later, is non assessable. Several articles on this forum supporting TRD's acceptance of FIFO accounting.
June 6Jun 6 11 minutes ago, JimGant said:Not until you exhaust all the monies in that account up to monies earned post 2023. First In, First Out (FIFO) is an acceptable accounting method to address pre 2024 monies; thus, until you drain all that pre 2024 money in your account, any interest earned in 2024, or later, is non assessable. Several articles on this forum supporting TRD's acceptance of FIFO accounting.yes totally agree.
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