Timing of tax reclaim on bank interest

[peter37]

I have had tax deducted from my savings account with Bangkok Bank. I obtained a Tax ID number and took the form filled in by Bangkok Bank outlining the details of the bank account and tax paid together with my Tax ID number to the local tax office. The tax officer said I should come back next year (2015). My details show the tax was deducted from my account in January 2014. I have not seen any reference to timing in the forums on this subject. Is this correct then that you must apply for the refund in the calendar year following the initial deduction?

[fletchsmile]

The tax year in Thailand runs 1 Jan - 31 Dec. Tax returns should be filed before 31 Mar after the tax year. So most people will claim thru their tax return

Cheers

Fletch

[poooket]

You can claim for the previous 3 years, so submit your claim next year before end of March.

[JAS21]

You can submit late, I did this year and had to pay a fine.. either 100 Baht or 200 Baht, forgot which. If you wait until next year I'm not sure if you will get away without a fine or not. It's true that the first time that you claim you can back claim and there is no fine. My claim was as yours ... savings interest withholding tax.

[peter37]

Thanks for your responses fletchsmile, poooket and JAS21. Very helpful.

[Pib]

Yea, I've seen several posts where folks filed for their refund "after" the tax deadline...they had to pay something like a 200 baht fine for late filing but their refund was processed. I'm pretty sure if you wait until next year to file for previous years, you'll still get hit with the approx 200 baht fine for late filing.

[jbaldwin]

Yea, I've seen several posts where folks filed for their refund "after" the tax deadline...they had to pay something like a 200 baht fine for late filing but their refund was processed. I'm pretty sure if you wait until next year to file for previous years, you'll still get hit with the approx 200 baht fine for late filing.

This is correct. I always file late. The tax office is much quieter and staff are much more helpful. It's well worth a 200 baht fine.