Withholding Tax On Fund Tranfers Above Usd 20,000.

[fyrekrig]

I need to transfer funds above the BoT limits of USD 20,000 and like to avoid the witholding tax.

How can this be done?

[jumnien]

I've had no problem with amounts over $50,000.

[Chang_paarp]

This being Thailand, they have changed / watered down the rules progressively since introducing them so you may not have a problem.

If you want to make sure the funds are cleared, talk to your bank manager first and tell him what you are doing and there should not be a problem.

Also on the transfer in the section for reason for transfer, put living expenses, purchase car, purchase house or something that is not currency speculation. Purchase car and purchase condo will allow you to get the paperwork to take the money with you when you go so it is worth using those as a reason for transfer.

[SamuiRep]

I need to transfer funds above the BoT limits of USD 20,000 and like to avoid the witholding tax.

How can this be done?

Hello,

dont worry about, you will get asked, what for is this money, if you say, "private expences" the amount will not be taxed, and you will get all your money without any problem !

I had no Problems with more than 100.000 Euro !

[Naam]

I need to transfer funds above the BoT limits of USD 20,000 and like to avoid the witholding tax.

How can this be done?

there is no such thing like a withholding "TAX"!

instruct your bank (the one abroad) to use as reference the purpose of transfer, e.g. "living expenses / real estate purchase / medical expenses for sick buffalo / paying debt incurred by wife, girlfriend, boyfriend, mother-in-law... [insert applicable] / buying a massage saloon / opening a noodle stall" and inform your bank (the local one) that you expect a transfer of x-dollars.