Interest on bank deposit

[Red Crab]

Hi All

has anybody recently applied for a refund on the Tax interest from the Revenue Department in Chiang Mai?

what is the procedure, please?

Thank you for any advice.

[neilrob]

I am just starting the process, using an accountant. The first step is to get a letter from the bank certifying the amount of interest and tax. The next step is to meet with the accountant, which I will do next week. I will know more then and will post further.

[Red Crab]

Thanks, Nailrob, I already have got a letter from the bank, Looking forward to further info.

[CMBob]

Ok, this is a bit long (prepared it last January after getting a refund then) but here it is:

For those who have fixed savings accounts here in Thailand and your bank withholds the usual 15% for the government (e.g., those who have visa accounts where you keep your 800,000+ baht in a timed savings account), you can obtain a refund of the withheld tax and the procedure to do so is fairly easy. I read about it a year or so ago somewhere (perhaps Thai Visa) and wanted to give it a try. Anyway, here's how it worked in Chiangmai for two of us who went to do it together:

(1) Go to your bank and get a document showing how much interest they've withheld. Since you can apply for a refund for 3-years back, obviously get one for each year (or, perhaps, your bank will put all that information on one piece of paper). At SCB, they knew exactly what I was requesting and in short order, without charging a fee, gave me a form made for that purpose for each of the two years I wanted.

(2) Go to your local Revenue office*. Once there, explain that you're there to apply for a refund of interest withheld by your bank on your savings account. We were shuffled to a room on the second floor where a very friendly Thai lady then told us to go back to the first floor office to obtain a Tax ID number. We did so....it took the guy maybe 5 minutes to take the information from each of us and another 5 minutes to use a computer to print out our Tax ID cards. Then, we were off to the second floor office again and the Thai lady took a copy of our passport identification page, some proof of residence/address** and then she filled out the form (Kor 10 form which is all in Thai) for each of us for each year we were applying for the refunds. She did carefully question us to make sure that we were not working or earning wages or a salary in either Thailand or our home country. She then told us that we would receive within 30 days mail some vouchers which we then needed to present to another revenue office to obtain our funds.

(3) Two weeks to the day from that visit, I received two checks (and not vouchers) in the mail and then deposited same into my bank account. I'd note the checks were written on Krung Thai bank but are marked in the corner "AC Payee Only" - meaning that you can only deposit them in your own bank account. My bank promptly took care of that and explained that it would be 2-3 days before the money actually appeared in my account (i.e., it took 2-3 days for the checks to clear).

(4) As a final note, I read before that you're supposed to apply for these refunds in January or February or they will charge some fee for doing it "late." I have no clue if that's true as we applied and received our refunds in

January. To be safe, do it in January.

*Here in Chiangmai, we went to the Revenue Office on the southwest corner of Chotana Road and the Seven Hundred Year Road (the first building north of the Chiangmai City Hall building or the third building south of the northeast corner of the complex). The name on the building in Thai is สำนักงานสรรพากร (which means Revenue Bureau/Office with the word "สรรพากร" meaning "revenue").]

**We had heard that one must present proof of residence. My friend presented his yellow book and the

Revenue lady was happy to take a copy of that. I had both a copy of my lease and a 50-day old Certificate of

Residence (which I had previously obtained to obtain driving licenses) and she said either was fine - she took a copy of the Certificate of Residence. However, a third friend who applied for and received his refund only had a business card which showed his Thai residential address and that was accepted as sufficient. So, perhaps, all they want to see is something to verify the address to which they will mail the refund checks.

[Bakeman]

This is great data. Never knew we could get money back from the withheld interest!

THANKS ALL!!!!

[narkeddiver]

That is a very clear, concise explanation - thank you for sharing

[Beng]

Very good info indeed. Thanks for that.

The only question is why the banks do withhold the 15% in the first place, when one is entitled to a refund anyway ??

[Red Crab]

Thank you very much CMBob, you have provided all information we needed. Cheers

[bangmai]

The statements are free at BKK Bank, but you will need to go to your home branch.

[alfieconn]

Very good info indeed. Thanks for that.

The only question is why the banks do withhold the 15% in the first place, when one is entitled to a refund anyway ??

Probably because its not the banks job to decide if your entitled to a refund !

[bangmai]

update......I got my Tax ID number today, all 13 digits, and filed for a refund. Office is in Nong Hoi for regions 1 and 2. Second floor, desk number 1, she did it all, and sent me to the window, where they gave me a receipt and told me two weeks, Thaipost. She mentioned work permit three times, so a lot of them seem to have trouble comprehending the concept of being on a visa that says "Employment Prohibited." And the people at most of the banks are really clueless, when it comes to that, the ID, and the visa.........."It is for Thai People,"......my arse. Desk #1 printed the card for me, too. Overall, very good experience, and they even have nice restrooms on level one, and ample nice parking. So before you go to 700 government offices complex on Choatana.....double check, and save yourselves a trip.

[Rotweiler]

Does anyone happen to know if you must apply at the Provincial Revenue Office where you live or where the interest was earned? In our case, two different Provinces.

[CMBob]

Does anyone happen to know if you must apply at the Provincial Revenue Office where you live or where the interest was earned? In our case, two different Provinces.

Don't know but I'd guess you can apply at any Revenue Office in the province where you live. I and two friends heard that we could possibly apply at the Revenue Office on Charoen Bpratet (about 300 yards east/northeast of where Charoen Bpratet runs into Chang Klan) but we all went to the office on Chotana Road and got it done there.

[Tywais]

Very good info indeed. Thanks for that.

The only question is why the banks do withhold the 15% in the first place, when one is entitled to a refund anyway ??

I'm just guessing but perhaps those of us that work it is added as income and as part of our tax liability when we submit our tax forms in March. Those not working, such as retirement, would not have sufficient tax liability to require filing and thus the entire amount returned.

[Rotweiler]

In one word, yes.

Very good info indeed. Thanks for that.

The only question is why the banks do withhold the 15% in the first place, when one is entitled to a refund anyway ??

I'm just guessing but perhaps those of us that work it is added as income and as part of our tax liability when we submit our tax forms in March. Those not working, such as retirement, would not have sufficient tax liability to require filing and thus the entire amount returned.

[Sparkles]

The statements are free at BKK Bank, but you will need to go to your home branch.

Got mine today from Bangkok Bank,had to go to 2 branches as I have followed the Currency Mgr around in his moves. They were not actually letters just small statements, in Thai of course.

The girl said City Hall is the place to go, can anyone clarify that ?

Can only go back 3 years so that's 3 years I have missed out on but she said it was a recent decision to re issue the right to get tax returned.

Always amazes me in Thailand that you cant just go to one branch and get it all done,each branch seems to have a different structure as their computers cant talk to each other but as my contact there said "Our banking system is still in the jungle"

Hoping they will take driving licence as place of residence ( has address on it) rather than the residency letter route

[bangmai]

As I stated earlier....went on Tuesday, with statement/form from BKK Bank. Nong Hoi Revenue Office for region 1 & 2...did it all there.....or you can take another poster's advice and go to Choatana...it will only ad an hour to the task.

[CMBob]

Nong Hoi Revenue Office for region 1 & 2...did it all there.....or you can take another poster's advice and go to Choatana...it will only ad an hour to the task.

If you can do it there (wherever that office might be located) and you live east of the Ping, maybe it would save a fair amount more time to go there versus the Revenue Office on Chotana Road; however, many of us live northwest of the old city and going to the Chotana Office is actually quicker (just a hop up the superhighway and then up Chotana Road).

You've twice mentioned the "Nong Hoi" revenue office....can you tell people its address (or general location) given some may not want to search the entire tambon looking for it?

Edited January 23, 2015 by CMBob

[bangmai]

I live west of Canal Rd., near CMU.........that was region 1, GF is from Chang Puak, and that is across the hall in region 2.

[CMBob]

I live west of Canal Rd., near CMU.........that was region 1, GF is from Chang Puak, and that is across the hall in region 2.

Can you please tell us where the Nong Hoi office is? Address or directions how to get there?

[Sparkles]

Got my Tax ID card from City Hall today,glad my Thai wife was with me as its a bit of a rabbit warren, but as we live in Hang Dong its a trip to the Amphur office there tomorrow.

As to where the Nong Hoi office is sorry haven't a clue but you can google and there are quite a few listings in Thai with addresses and phone no's ,best to ring first I would suggest.

[bangmai]

Update....received tax ID# and filed at Region 1 Revenue Office, Nong Hoi, last Tuesday. Refund check arrived today. Not a large amount, but now I know the process, and have a lot more flexibility in choosing where to put my visa money, knowing that I will get back the 15% that is withheld on many accounts. I would add that the no hassle 2.3% at yellow is good if you don't have a Tax ID or doubt that you can get one. They pay monthly and do not withhold. Manager at Airport Plaza is a good guy, too. I'll take the 3.2% and file for a refund, though......

[el jefe]

I was looking for the address of the tax office and in another thread I found this:

The tax office you need in Chiang Mai has moved and is now located across the bridge from the Holiday Inn, head West over the bridge and turn left, the tax office is a new building set back on the right, a hundred yards or so. Main building, first floor, turn right at the top of the stairs, the lady at the desk on your left is super helpful and will walk you through the process.

Is this (above) the Nong Hoi office that people are asking about in this thread?

If it is can we use either office? I would prefer the Chotana Rd / City Hall location.

[bangmai]

I was looking for the address of the tax office and in another thread I found this:

The tax office you need in Chiang Mai has moved and is now located across the bridge from the Holiday Inn, head West over the bridge and turn left, the tax office is a new building set back on the right, a hundred yards or so. Main building, first floor, turn right at the top of the stairs, the lady at the desk on your left is super helpful and will walk you through the process.

Is this (above) the Nong Hoi office that people are asking about in this thread?

If it is can we use either office? I would prefer the Chotana Rd / City Hall location.

That's where I went, jefe. But, here is another thing that I am not sure about.....is it based on the location of the branch that withheld it (in my case Pantip Plaza), or your residence. Or were both places (I line by CMU) in the same region. The left side is region 1, and that lady was super helpful. So for starters, a map of the different revenue regions in CM would be helpful.

[CMBob]

If it is can we use either office? I would prefer the Chotana Rd / City Hall location.

I've used the Chotana Road office in the past and, again, this past Monday. I went there in the first place as that's where I was told to go but, given both Bangmai and I live on the west side of town, it's fairly obvious you can go to either office. That makes sense too as these are national revenue offices and the 15% that was withheld was paid to the Thai government.

Thanks for finally identifying the location of the Nong Hoi office. That office would be much closer for some but for me the Chontana Road office works just fine.

[Sparkles]

Got my Tax ID card from City Hall today,glad my Thai wife was with me as its a bit of a rabbit warren, but as we live in Hang Dong its a trip to the Amphur office there tomorrow.

As to where the Nong Hoi office is sorry haven't a clue but you can google and there are quite a few listings in Thai with addresses and phone no's ,best to ring first I would suggest.

Well got my refund cheque from Bangkok today.KRUNGTHAI BANK, took less than a week.We had to process through Hang Dong Amphur office but the whole operation was pretty painless.Once you have the tax card it of course makes the next time much simpler.

[bangmai]

If it is can we use either office? I would prefer the Chotana Rd / City Hall location.

I've used the Chotana Road office in the past and, again, this past Monday. I went there in the first place as that's where I was told to go but, given both Bangmai and I live on the west side of town, it's fairly obvious you can go to either office. That makes sense too as these are national revenue offices and the 15% that was withheld was paid to the Thai government.

Thanks for finally identifying the location of the Nong Hoi office. That office would be much closer for some but for me the Chontana Road office works just fine.

But, as I earlier stated, I first went to Chotana, and was not able to get a card or refund. I was able to do both at Nong Hoi.

[el jefe]

If it is can we use either office? I would prefer the Chotana Rd / City Hall location.

I've used the Chotana Road office in the past and, again, this past Monday. I went there in the first place as that's where I was told to go but, given both Bangmai and I live on the west side of town, it's fairly obvious you can go to either office. That makes sense too as these are national revenue offices and the 15% that was withheld was paid to the Thai government.

Thanks for finally identifying the location of the Nong Hoi office. That office would be much closer for some but for me the Chontana Road office works just fine.

But, as I earlier stated, I first went to Chotana, and was not able to get a card or refund. I was able to do both at Nong Hoi.

I went to the Chotana Rd office last week. Easily identifiable next to City Hall. Everything went exactly as described in Post 4 (Thanks, CMBob!)

There was no problem getting my tax ID Number and card. Once that was done they helped me fill out the forms for my tax refunds. I was applying for refunds for 3 years. There was no problem for 2013 and 2014. For 2012, because of the timing of the interest payments on my accounts, I earned over 30,000 baht in interest (and, obviously, had over 4,500 baht withheld). That required a different form which could only be filed at the Nong Hoi office. The woman at the Chotana Rd office helped me fill it out. Actually, she filled it out and I signed it. I have no idea what she put down but I could tell the numbers matched my interest and withholding.

The directions I gave for the Nong Hoi office are correct. (Whether you go to the offices to the left or right at the top of the stairs depends on where you live.) I went there two days later. I handed in the form. The girl there was pretty surprised at how perfectly I had filled in my form!

I got receipts for all my forms and should have my refunds soon.

Since I doubt I'll ever have over 30,000 baht in interest again, I should be able to do all future filings at the Chotana Rd office. Others may choose to file elsewhere.

[bangmai]

so you wasted a trip to Chotana? I didn't have 30K in interest last year, I do recall her putting 30K a few times on the form, and I thought that might be the personal exemption. So still some unanswered questions.

[haybilly]

Wow--seems I'm a bit late to the party--but very useful info, all the same, thanks to the OP.

Always amazes me, in this country, just how hard it is to find all the relevant information--without this Topic I would have carried on assuming that the Tax deducted at source was 'non-refundable'--typical.

How long has this been available to reclaim? I have had 800K in an account for 9 years --never reclaimed a satang.