Does Thailand Report Earnings To Your Home Country?

[deejah]

how does this work?

if you work in thailand

for a thai company

or a thai govt office

do your earnings ever get reported to your home country?

when do they report?

when dont they report?

more info on this?

[JimShortz]

lol

How organised do you think the Thai authorities are?

You'll be lucky if they can calculate your tax in this country

[InterestedObserver]

Why would they do that? I'd be more worried about the Thai banks reporting account balances to your home taxman.

[NHJ]

don't worry they don't communicate automatically even if there's a treaty agreement like for my country and thailand that says they exchange information automatically, on request bla bla

nothing has been transmitted and the kasikorn bank doesn't communicate neither.

however if you country has a suspition thailand might reply to it but i highly doubt it...

[Soutpeel]

They dont report anything, however if there is a tax agreement in theory your home country could request information from Thailand

[richardt1808]

haven't you guys heard of the International Income Co-operation Act ?

Act 149 of BE 2546 allows for the reporting of all income generated by foreign individuals which is liaised bi-annually between all co-operating countries and the Thai Revenue Department. The information is shared to each country according to immigration records and listed against the name which appears in the passport/immigration record-set. It is up to the receiving country to join the dots and link to their respective tax authorities but I understand that many are making quite a good job of it already. A friend of mine from Malawi recently received a warning for undeclared income and is now liable for 3 years back-tax since they don't have a dual taxation treaty with Thailand.

[deejah]

Why would they do that? I'd be more worried about the Thai banks reporting account balances to your home taxman.

does this occur?

details?

thanks

[Boater]

i worked for 4 years and none of my earnings where ever reported to the UK, i wouldnt worry

[InterestedObserver]

US expats are already required to report foreign bank account balances over $10,000.00, or equivalent currency, per year to the US Treasury Department. Severe penalties if caught not reporting and they decide to come after you.

[witold]

US expats are already required to report foreign bank account balances over $10,000.00, or equivalent currency, per year to the US Treasury Department. Severe penalties if caught not reporting and they decide to come after you.

In addition to this, keep in mind that just because things are OK now, the situation won't change in the future. I believe that people in the US can be audited for the past 5 years of taxes - not just your last return. So things may be going well now and you may be avoiding taxes but in 5 years Thailand and US tax authorities may meet and decide to exchange all information and that's when sh*t will hit the fan. And this would probably fall under criminal code...

[deejah]

interesting stuff

how about the current technicalities and facts of this

so far from this thread

thailand does not report back to, say the usa, earnings

ever? only if asked? sometimes?

does thailand now or have they ever reported to the usa actual bank account balances and names and birth dates, passport numbers, etc?

i know: google search and research

but for now any insights into the above?

[deejah]

US expats are already required to report foreign bank account balances over $10,000.00, or equivalent currency, per year to the US Treasury Department. Severe penalties if caught not reporting and they decide to come after you.

has anyone been caught?

details?

[Soutpeel]

interesting stuff

how about the current technicalities and facts of this

so far from this thread

thailand does not report back to, say the usa, earnings

ever? only if asked? sometimes?

does thailand now or have they ever reported to the usa actual bank account balances and names and birth dates, passport numbers, etc?

i know: google search and research

but for now any insights into the above?

Deejah, I am guessing you are from the US ??....US citizens are in a bit of bind, as believe you have to submit tax returns where ever you are in world and have to report any bank accounts with a sum total of over 10K, therefore would be pretty easy for the IRS to check up on you if so desired, I am guessing, seeing as the US goverment is cash strapped, they are going to start looking at everyone where ever you are...

As far as i am aware US banks overseas ie Citi etc will report your details to the US goverment, if you are a US citizen.

The guys from the UK have it easier, declare yourself non-resident, dont spend more than 90 days a year in the UK, and HMRS can go and f*kc themselves cant go near you (yet)

[BEENTHEREDONETHAT]

I believe it is over 10,000 USD in foreign banks. If you 10 bank accounts with 1,000USD each you are suppose to report it even if they are in ten different countries.