Tax On Interest Earned At Bangkok Bank

[fred110]

I got about 2500 baht interest and they took 15% back. The lady told me it is income tax. Do all banks do this? I don't work so can I get this tax back somehow? Thanks.

[churchill]

Even if you could is it worth the hassle - You will spend more in petrol , frustration , time etc - IMO Forget it .

[JohnC]

This has been a major item of discussion recently at the Pattaya Ex Pats Club where some members report it was a simple exercise to recoup the tax, others reported difficulty so up to you really. You need to visit your bank and the tax office in Jomtien.

[RKASA]

375 baht? let them have it. Like my wife says "if they need it that bad - then bless them". I think its just a way of building anti Karma for when your really gonna need it.

[basjke]

You get taxed the same way in Europe and you don't get it back either.Has nothing to do with work or no work.

Tough I asked that question some time ago to an accountant and he said it is possible to get it back but you need to have a personal tax-id.

[hansnl]

Is it income tax?

I really thought it was tax on interest.

[Naam]

"I got about 2500 baht interest and they took 15% back. The lady told me it is income tax. Do all banks do this? I don't work so can I get this tax back somehow?"

refund 375 Baht. are you for real?

[Puccini]

From the OP:

I got about 2500 baht interest and they took 15% back. The lady told me it is income tax. Do all banks do this? I don't work so can I get this tax back somehow?...

It depends. If you are resident for tax purposes in another country and if that country of your tax residence has a double taxation agreement with Thailand and if you declare the Thai income from interest in your tax declaration in your country of tax residence, the income tax withheld in Thailand will be applied against the amount of taxes you owe in the country of your tax residence.

[chiangmaibruce]

Fred

scroll down to item 24 in the list in the linked page:

http://www.rd.go.th/publish/29041.0.html

I think this is what you need. My invoice for professional services (in providing this info) follows under separate cover ... and with your Thaivisa member discount it amounts to only 375 baht

Your prompt attention to this matter would be appreciated

[thrilled]

i can't believe we're talking about 375 baht.thats about how much i leave as a tip

[Scottish Thailander]

i can't believe we're talking about 375 baht.thats about how much i leave as a tip

Fine for you if true (no disrespect intended), but not everyone is in the same situation. To many of my Thai friends that would be almost equal to their wages for 2 days work (2 * 12 hrs = 24hrs) and I also know many foreign teachers that would not be eating often if they had to match your tips on a night out!

ST.

.

[fred110]

Well it happens every three months so it adds up, better I have it than Bangkok bank crooks, right?

Here is a link to the article giving instructions:

http://www.thaivisa.com/forum/Thai-Bank-In...ax-t239828.html

[needforspeed]

Go to Pricewaterhousecoopers at Sathorn they no how to get your 375 Baht back, and one good point is next year Bangkok bank going to deduct much less than 375 baht.