Fixed deposit tax

[EricTh]

 

Does anyone know whether we can get back the fixed deposit taxes deducted for those who are residing in Thailand but not working?

 

[KhunBENQ]

Moved to ... banking ... forum.

[KhonKaenKowboy]

Yes, get a free tax statement from your home branch.....go to your region specific revenue office...they will do it for you, in most cases...and issue you a tax I'd number...bring yellow book if you have it...and definitely passport.  Look clean and neat, but no need for long pants and a Thai.   If you have Promptpay, you can get your money in days instead of weeks.

[EricTh]

1 hour ago, KhonKaenKowboy said:

Yes, get a free tax statement from your home branch.....go to your region specific revenue office...they will do it for you, in most cases...and issue you a tax I'd number...bring yellow book if you have it...and definitely passport.  Look clean and neat, but no need for long pants and a Thai.   If you have Promptpay, you can get your money in days instead of weeks.

What is the name of the office in Chiang Mai?

 

Thanks.

[simoh1490]

Only if you are tax resident in Thailand, for example, if you spend more than 180 days here during each tax year and are able to prove it via stamps in your passport.

[EricTh]

Just now, simoh1490 said:

Only if you are tax resident in Thailand, for example, if you spend more than 180 days here during each tax year and are able to prove it via stamps in your passport.

 

I've spent more than 180 days here and I am a retiree.

How many branches are there in Chiang Mai city center?

[KhonKaenKowboy]

Area 1 and 2 are across the river from Holiday INN/Riverside Condos.

[Ace of Pop]

Asked my Mrs about it Yes ,I can get a refund on the money kept for retirement..n never used. Only prob is the refund is so small it's not worth the Petrol n form filling to bother.If you can walk to the Bank, and spend nothing go for it.Ball Park figure is about 900 Bht per 500 K.?


Sent from my iPhone using Thaivisa Connect

[meatboy]

i think you might be too late to claim this yr.

the thai tax yr.for claiming a refund is jan 1st.-march.

the form you get from your bank is available at the end of their yr.TAX WITHELD jan.so whenever your fixed term matures you get the bank to give you that information end of the yr.

as long as you havnt earned more than 190,000bht.you can claim it all back.and also back date 3yrs.

[Jack Mountain]

As far as i know you can claim it in the 1st quarter of the year. You can claim for the last 3 full years.

Edited April 4, 2017 by Jack Mountain

[EricTh]

2 hours ago, meatboy said:

i think you might be too late to claim this yr.

the thai tax yr.for claiming a refund is jan 1st.-march.

the form you get from your bank is available at the end of their yr.TAX WITHELD jan.so whenever your fixed term matures you get the bank to give you that information end of the yr.

as long as you havnt earned more than 190,000bht.you can claim it all back.and also back date 3yrs.

 

You mean there's a deadline? I am late only a few days! OMG

[KhonKaenKowboy]

I heard something about the fine being 400 THB for each old filing.  I got back 3600 THB this year,  Easier than doing a 90 day report, in person.

[EricTh]

18 hours ago, KhonKaenKowboy said:

Area 1 and 2 are across the river from Holiday INN/Riverside Condos.

 

The bank told me the revenue office is opposite the Rati Lanna Hotel on Chang Klang road, is this the same place as what you are talking about?

[simoh1490]

50 minutes ago, EricTh said:

 

The bank told me the revenue office is opposite the Rati Lanna Hotel on Chang Klang road, is this the same place as what you are talking about?

Pretty much, it's between the Bridge and the Ratilanna Hotel.

 

BTW the last date for filing personal income tax without penalty is 31 March each year.

Edited April 4, 2017 by simoh1490

[regedit]

Any penalty if you miss the 31 March deadline but are claiming for a refund ?

[simoh1490]

19 minutes ago, regedit said:

Any penalty if you miss the 31 March deadline but are claiming for a refund ?

In that situation it's called a surcharge rather than a penalty (!) and is about 200 baht as I recall.

 

http://sherrings.com/tax-penalties-surcharge-thailand.html

[KhonKaenKowboy]

It's on Charoen Prathet Rd., about 200 m south of the bridge....I just took a Blue Songtaew from Worrorat Market and got off at the Hospital/Holiday Inn intersection...about a five minute walk to the lobby.  I would go after lunch.  They were 100% professional with me, and I was chatting with the area director in her office, while the younger gal filled out the form.  

[regedit]

If that link is correct in that "the amount of surcharge shall not exceed the amount of the tax shortfall" I'd argue that if a refund is due the surcharge should be at least zero !

[simoh1490]

29 minutes ago, regedit said:

If that link is correct in that "the amount of surcharge shall not exceed the amount of the tax shortfall" I'd argue that if a refund is due the surcharge should be at least zero !

Go for it and good luck with that argument!

[Pib]

There a small charge for filing late....since you are getting a refund the late charge will just be a few hundred baht.

[EricTh]

46 minutes ago, Pib said:

There a small charge for filing late....since you are getting a refund the late charge will just be a few hundred baht.

 

Well then, can I file from Jan-Mar 2018 and avoid the surcharge?

 

I want to claim for the years 2015, 2016, 2017 in one trip next year.

 

I won't be able to claim for 2014 but the tax is less than the surcharge anyway.

 

Edited April 4, 2017 by EricTh

[topt]

22 minutes ago, EricTh said:

 

Well then, can I file from Jan-Mar 2018 and avoid the surcharge?

 

I want to claim for the years 2015, 2016, 2017 in one trip next year.

 

I won't be able to claim for 2014 but the tax is less than the surcharge anyway.

 

yes - if you can get the supporting bank letters for those back years?

[KhonKaenKowboy]

I wouldn't wait...it will be easier next year, if you are already in compliance.  Penalty is per filing, anyways.  Get the forms from the bank while you can.  Branch closure, etc.., might not be as easy next year to get old forms.  Notice how brief of a history is available online...about 6 months....there was a guy that had to prove he made a tuition payment from the beginning of the school year....took him more effort than filing at the Revenue Office.  Also, reports from Jomtien that they told a guy he needed to see an accountant as they no longer did it for farang.  But, I do realize some retirees are busy watching paint dry, and waiting for the postman. 

Edited April 4, 2017 by KhonKaenKowboy

[Pib]

10 hours ago, EricTh said:

 

Well then, can I file from Jan-Mar 2018 and avoid the surcharge?

 

I want to claim for the years 2015, 2016, 2017 in one trip next year.

 

I won't be able to claim for 2014 but the tax is less than the surcharge anyway.

 

The standard window for tax filing in Thailand is Jan-Mar.  For tax year 2016 you would file Jan-Mar 2017.    For tax year 2017 you would file Jan-Mar 2018.   Sometimes this Jan-Mar window actually stretches a few days into April....but just get it done by 31 March each year and you know you are within the tax filing windows.

 

You can claim up to 3 years back I think.  The "I think" part just means I don't know if going back more than 3 years to claim a refund is allowed.

 

You should be able to file "now" for tax years 2016  and previous, but just end up paying a small late filing fee since you are getting a refund versus owing  a bunch of back tax.

Edited April 5, 2017 by Pib

[Jack Mountain]

24 minutes ago, Pib said:

The standard window for tax filing in Thailand is Jan-Mar.  For tax year 2016 you would file Jan-Mar 2017.    For tax year 2017 you would file Jan-Mar 2018.   Sometimes this Jan-Mar window actually stretches a few days into April....but just get it done by 31 March each year and you know you are within the tax filing windows.

 

You can claim up to 3 years back I think.  The "I think" part just means I don't know if going back more than 3 years to claim a refund is allowed.

 

You should be able to file "now" for tax years 2016  and previous, but just end up paying a small late filing fee since you are getting a refund versus owing  a bunch of back tax.

A few weeks ago i claimed for 2015 en 2016 in one go. No problem.

[EricTh]

1. I went and found the place this morning. It's on a small lane going to Charoen Prathet Road on the left. It's just after Park Hotel on Changklan road.

 

2. The staff is surprisingly helpful and friendly but their English is very limited. They had trouble understanding what I said.

 

3. She filled up years 2014 and 2015 forms for me with no penalty. But she couldn't file year 2016 for me because there would be a penalty of 200 baht. I find this strange but due to their limited English, I couldn't get an explanation why I can claim back previous years without a penalty but not 2016 .

 

Therefore, I decided to claim year 2016 next year and see what happens.

 

4. I had a shock when the cashier said I have to wait 3 months for them to send me a cheque! That's a long time for a small amount.

 

Overall, it was a pleasant experience unlike the government staff I met in transport ministry and immigration.

 

Edited April 5, 2017 by EricTh

[Pib]

Heck, I would have have paid the 2016 penalty just to get the refund....get catch-up on your refunds.   Now you will still be a year's worth behind.    Or maybe there was some miscommunication..."maybe" the tax office rep was saying it would be better to get the old 2014 and 2015 refunds cleared up/processed first....once that is done then file for 2016.

 

It can take up to 3 months....they normally give you a conservative estimate.   For the 3 or 4 times I filled here in Bangkok (my tax office was always super helpful also with not much English involved) it took anywhere from 3 to 6 weeks to get my refund check.   But you can search and find other threads on this subject where some folks have got their refund in a week or two.   It depends on how "speedy" your tax office is and whether they need to cut your check or can do the refund electronically like using PromptPay.