reclaiming tax on bank interest

[denboy]

Hi, I read some time ago an article regarding reclaiming the tax charged on bank interest here in Thailand.

I cannot seem to locate it on the forum. Can anyone enlighten what is the necessary to revcover the tax paid on a Thai bank savings account.

Also is there still a limit as to how much you can transfer to Thailand, I believe the limit used to be around 20.000 Sterling unless you had prove of some purchase, ie: house, car etc,.

Cheers

[chiang mai]

All the info you need on reclaiming tax on bank accounts is here:

http://www.thaivisa.com/forum/topic/560837-bank-savings-interest-rates/

There is no limit to the amount of money you can bring into Thailand.

[i claudius]

I do it every year at Banglamung ,no problem ,but what makes me laugh is last year when i banked the govt cheque it took 2 days to clear ,when my wife asked why ,she was told "just to make sure it doesnt bounce" or words to that effect

[gmac]

All the info you need on reclaiming tax on bank accounts is here:

http://www.thaivisa.com/forum/topic/560837-bank-savings-interest-rates/

There is no limit to the amount of money you can bring into Thailand.

There are 38 pages in that thread which looks to be mainly about interest rates rather than reclaiming tax. Some up to date easily accessed on-topic information would be useful.

[chiang mai]

There's one of many discussions in that thread starting at post 497.

[Rimmer]

Moved to Banking Forum

[Pib]

Here's a thread I started in Jan 13 about my personal experience in getting a refund on tax withheld on interest. Easy process at your local revenue office.. You can claim 3 years back.

No limit by Thailand on how much money you can transfer in. There is a requirement for bank's to ask the reason and issue a Foreign Exchange Transfer form for incoming amounts over 50K USD...some banks do it at 20K USD...getting the form is a good thing as it makes it easier to expatriate the funds. If the bank don't issue you one, but sure to go ask for one so it will ease the process of expatriating the funds. Thailand Land of Smiles for Incoming Money, but can be the Land of Frowns for Outgoing money unless you have the proper documents. Now your home country laws/home country bank may have some limit on how much money can flow out of your home country...I can't speak to that.

[shaurene]

Here's a thread I started in Jan 13 about my personal experience in getting a refund on tax withheld on interest. Easy process at your local revenue office.. You can claim 3 years back.

No limit by Thailand on how much money you can transfer in. There is a requirement for bank's to ask the reason and issue a Foreign Exchange Transfer form for incoming amounts over 50K USD...some banks do it at 20K USD...getting the form is a good thing as it makes it easier to expatriate the funds. If the bank don't issue you one, but sure to go ask for one so it will ease the process of expatriating the funds. Thailand Land of Smiles for Incoming Money, but can be the Land of Frowns for Outgoing money unless you have the proper documents. Now your home country laws/home country bank may have some limit on how much money can flow out of your home country...I can't speak to that.

Quite a few western country's now require you to fill forms in to send money out due to new money laundering rules.

[falang07]

Yes, there is no limit on how much money you can transfer to Thailand but bear in mind the opposite might be a big problem (like asking for a work permit if you stay on retirement visa, and other catch 22 requirements).

[elliottm]

Do you have to file for tax reclaim in Jan-Mar or is that to avoid a fee outside of the regular tax filing regime?

On another thread (see below) a copy of a Yellow Tabian was provided - is proof of address standard and are rental agreements sufficient? (Non Imm O, 12m Ext)

Also, can you claim at your nearest tax office at the time of making the claim - I will have two accounts maturing at the same bank branch but the second is after I will have moved province.

http://www.thaivisa.com/forum/topic/610294-obtaining-refund-of-tax-withheld-on-thai-bank-fixed-savings-account/#entry5999041

thanks.

Edited December 4, 2013 by elliottm

[thailandbeachisland]

Hello,

I see on my Kasikorn book bank the codes:

INN = is it the interest that they gave me ?

TXN = is it the tax that I have to pay on this interest ?

And can you confirm that this thread is about getting back this money ?

Thank you for your help.