Had a consultation with my Thai tax attorney over the last 3 days regarding Social Security and Pension in the same savings account overseas prior to January 1, 2024. She is well aware that taxpayers and the TRD may have disputes about the law; and that the final solution must be based on the correct interpretation of Thai tax law and not on the arbitrary interpretation of an individual TRD employee. Get an attorney who knows the law. The attorney put forward this example: 1.4 million baht deposited in overseas account from Social Security and private pension (400,000 baht Social Security and 1 million baht private pension) 700,000 baht brought into Thailand 500,000 baht in Thailand tax deductions 400,000 baht of tax free Social Security brought into Thailand. 300,000 baht taxable. 500,000 baht in deductions. No tax owed, so no filing necessary. As an aside, she did state that FIFO is part of the Thai tax law. In the event of any audit, as a preliminary action, have your tax attorney prepare a written explanation and outline of your remittances each year since January 1, 2024. This will be an attachment to the documents that you bring to your local TRD office. The purpose is to establish why your case is tax free based on the correct interpretation of the current Thai tax laws, and why the Revenue officers do not have a legal basis to impose tax on you. If things go beyond the audit, and the documentation is unacceptable, you can weigh the cost of an attorney in tax court vs paying any fines or taxes. I am not attorney and only passing on what was told to me. Always do what's best for you.
