CRS (common reporting standard)

[alanrchase]

I am British and retired in Thailand. I have just received a CRS form requesting information. One question is for my Tax Identification Number. I have no Thai number as I thought a work permit was required to get one. Is this correct?

 

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[ubonjoe]

You don't need a work permit to get a tax ID number.

Not sure you really need one to complete that form. Others should be able to answer that.

[brunotawan]

can you tell which bank requested these informations ? It seems that Thailand just joined the global forum https://home.kpmg.com/us/en/home/insights/2017/03/tnf-thailand-status-of-common-reporting-standard-implementation.html

 

 

Edited April 7, 2017 by brunotawan

[alanrchase]

can you tell which bank requested these informations ? It seems that Thailand just joined the global forum https://home.kpmg.com/us/en/home/insights/2017/03/tnf-thailand-status-of-common-reporting-standard-implementation.html
 
 

It was a QROPS company that requested the information. The answer I gave on the forms was that a TIN was not a legal requirement at the moment.

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[topt]

3 hours ago, alanrchase said:

 

 

It was a QROPS company that requested the information. The answer I gave on the forms was that a TIN was not a legal requirement at the moment.

Sent from my SM-A500F using Thaivisa Connect mobile app
 

 

Just tell them you do not pay tax in Thailand and do not have one. My offshore bank asked the same question and I told them that and eventually after giving my account manager some grief they accepted it.

 

If you do not pay tax in Thailand or reclaim tax on interest no reason why you should have one. Also if you look at the link above it sates that it is unlikely that Thailand will be reporting until 2022........if they get round to implementing the laws needed............

[brunotawan]

my feeling is that they could report before 2022. They took time to join the global forum of OECD (I even wonder why they didn't signed before), but it seems they want to move quickly now. And since this is a military government, they could enact laws faster than other countries.

 

The best advise in my opinion, is to declare from next year (deadline limit) all bank accounts you own to your respective governments, if it's not done yet, or close them if you don t want they know your income and avoid the reporting of the previous year.

 

 

 

 

[topt]

On ‎09‎/‎04‎/‎2017 at 1:16 PM, brunotawan said:

my feeling is that they could report before 2022. They took time to join the global forum of OECD (I even wonder why they didn't signed before), but it seems they want to move quickly now. And since this is a military government, they could enact laws faster than other countries.

 

The best advise in my opinion, is to declare from next year (deadline limit) all bank accounts you own to your respective governments, if it's not done yet, or close them if you don t want they know your income and avoid the reporting of the previous year.

 

 

 

 

Not sure if it is your phrasing but why?

Quote

is to declare from next year (deadline limit) all bank accounts you own to your respective governments

My "government" and the tax authorities have never asked me. The whole point of CRS is that the banks report the information to the respective countries revenue depts. 

If you are supposed to pay tax on them in some way then of course you should already be reporting that................... 

If not then you have nothing to worry about