Thai revenue tax for farang residents

[EverythingThai]

My question is who is planning to file a Thai tax return next year?

Again, I'm not looking for tax advice, just whether people here are planning to file or not. The filing date is March 31.

Why? And why? You are clearly one who does not listen to the advice of anyone that suggests you not to file or to wait to see what happens with enforcement first before making a decision to file. You have already made up your mind about what you are doing. In your prefect world, you want all expats to tell you they are going to file, so that way you can say "I told you so" in some internet chat forums like ISG or other discord forums in Pattaya that will remain unnamed. Why do you care what others do if you are only going to do what you want anyways?

ET out.

[SubCmdr]

I believe that you have stated that you have an accountant who will file for you.

You belief is incorrect.

One wrinkle is that Thailand is considering taxing worldwide income for Farangs which means your Dominican Republic money may be taxable. No fun.

Once again you are incorrect. Besides who says I have any income in the Dominican Republic?

Again, I'm not looking for tax advice, just whether people here are planning to file or not. The filing date is March 31.

I am planning of following the advice that I received from a competent tax advisor here in Thailand. I cannot help you with your questions. I am not licensed to to practice law nor a CPA in Thailand. I do not know your situation. My advice remains the same to you Seek competent tax advice for your situation. But you continue to ignore it.

[Explorer8939]

Neither do you unless you are telling me you are licensed to practice tax law in the Kingdom of Thailand.

Here is a suggestion for you: Seek competent legal counsel for your personal tax situation.

I did that and learned I have nothing to worry about. I do not have to run from country to country in an effort to avoid a tax liability that may or may not exist. Nor am I asking a group of International Tricks for tax advice.

My question is who is planning to file a Thai tax return next year?

I believe that you have stated that you have an accountant who will file for you.

One wrinkle is that Thailand is considering taxing worldwide income for Farangs which means your Dominican Republic money may be taxable. No fun.

Again, I'm not looking for tax advice, just whether people here are planning to file or not. The filing date is March 31.

[SubCmdr]

You clearly don't understand the ramifications of these tax regulations IF they are enforced.

Neither do you unless you are telling me you are licensed to practice tax law in the Kingdom of Thailand.

Here is a suggestion for you: Seek competent legal counsel for your personal tax situation.

I did that and learned I have nothing to worry about. I do not have to run from country to country in an effort to avoid a tax liability that may or may not exist. Nor am I asking a group of International Tricks for tax advice.

[Explorer8939]

Getting a tax ID, ie a Thai TIN, is still one step removed from filing taxes in Thailand. Offshore banks routinely require a Thai TIN whenever an account holder declares Thailand as their tax residence. In a sense there was already a scramble for Thai tax IDs even before the recent TRD bombshells.

Don't camp out for more than 6 months in Brazil unless you want to find yourself having jumped out of the frying pan into the fire.

I want to file taxes next year in Thailand in order not only to get a tax assessment notice but also to "activate" my Thai TIN so that CRS reports sent to Thailand do not trigger a "taxpayer unknown" alert. I hope I can find some agent willing to file for me. It may not be easy since I owe no taxes on my remittances due to my LTR visa, and I ask for no refund on the taxes paid on my Thai dividends (10% withholding tax). I clearly owe zero taxes but I want to be able to show to all and sundry I'm a good boy who plays by the rules, rather than tread on thin ice hoping it will not break.

You are a rare bird.

What I am interested in is the fate of 100,000's of Farangs living in the village or the Pattaya Darkside who have no idea about any of this.

[Explorer8939]

"Wow, another month, another question worrying about others ! You must really be counting down the days until tax season. Are you planning to start a tax fan club, or just keeping tabs to make sure none of us fall behind? Don't worry, I think we'll all survive until March somehow. ". Why is it so important to try and lure others into your obsession?

Sorry to call you out like this, but you keep doing this every month. Its like you want something to be done. News flash. Most likely nothing will happen, but if it does, people will just deal with it like they always do.

You clearly don't understand the ramifications of these tax regulations IF they are enforced.

[XXL]

My plan is to camp out in Brazil early next year and look for signs that the new tax regulations will be enforced. If I see a mad scramble for tax ids, that would indicate the new rules are in effect.

I talk to expat Farangs in the bars about the new tax regulations, and most people haven't heard about it.

Getting a tax ID, ie a Thai TIN, is still one step removed from filing taxes in Thailand. Offshore banks routinely require a Thai TIN whenever an account holder declares Thailand as their tax residence. In a sense there was already a scramble for Thai tax IDs even before the recent TRD bombshells.

Don't camp out for more than 6 months in Brazil unless you want to find yourself having jumped out of the frying pan into the fire.

I want to file taxes next year in Thailand in order not only to get a tax assessment notice but also to "activate" my Thai TIN so that CRS reports sent to Thailand do not trigger a "taxpayer unknown" alert. I hope I can find some agent willing to file for me. It may not be easy since I owe no taxes on my remittances due to my LTR visa, and I ask for no refund on the taxes paid on my Thai dividends (10% withholding tax). I clearly owe zero taxes but I want to be able to show to all and sundry I'm a good boy who plays by the rules, rather than tread on thin ice hoping it will not break.

[EverythingThai]

Another month has passed, and there is no word about the new Thai tax regulations.

Are you guys who live in Thailand ready to file your taxes next March?

"Wow, another month, another question worrying about others ! You must really be counting down the days until tax season. Are you planning to start a tax fan club, or just keeping tabs to make sure none of us fall behind? Don't worry, I think we'll all survive until March somehow. ". Why is it so important to try and lure others into your obsession?

Sorry to call you out like this, but you keep doing this every month. Its like you want something to be done. News flash. Most likely nothing will happen, but if it does, people will just deal with it like they always do.

[Houston Player]

Another month has passed, and there is no word about the new Thai tax regulations.

Are you guys who live in Thailand ready to file your taxes next March?

Apply for the LTR visa and forget about it, LOL.

[Explorer8939]

Another month has passed, and there is no word about the new Thai tax regulations.

Are you guys who live in Thailand ready to file your taxes next March?

[Explorer8939]

The new tax laws are already in effect. I think what you mean is when will we know about enforcement. Technically everyone who is a tax resident needs to file. About people getting tax IDs, you are correct that TRD should be getting many applications for tax IDs. Those are the people who have hired lawyers to do it. However, most expats are waiting to see if any enforcement guidelines are put in place before pulling the trigger on the tax ID. Enforcement guidelines have to be approved through the normal process of laws so that should have been done already. It may be too late now for this coming tax season. My prediction is that if they introduce enforcement, such as immigration asking to see your return to approve your visa extension, it will be done next year or maybe even further in the future.

My plan is to camp out in Brazil early next year and look for signs that the new tax regulations will be enforced. If I see a mad scramble for tax ids, that would indicate the new rules are in effect.

I talk to expat Farangs in the bars about the new tax regulations, and most people haven't heard about it.

[EverythingThai]

At what point next year will we know if the new tax regulations are effective?

I believe the filing deadline is March. Everyone who files will need a Thai tax ID. So, the Revenue Department should soon be jammed with applicants for a tax ID. Right?

The new tax laws are already in effect. I think what you mean is when will we know about enforcement. Technically everyone who is a tax resident needs to file. About people getting tax IDs, you are correct that TRD should be getting many applications for tax IDs. Those are the people who have hired lawyers to do it. However, most expats are waiting to see if any enforcement guidelines are put in place before pulling the trigger on the tax ID. Enforcement guidelines have to be approved through the normal process of laws so that should have been done already. It may be too late now for this coming tax season. My prediction is that if they introduce enforcement, such as immigration asking to see your return to approve your visa extension, it will be done next year or maybe even further in the future.

[Explorer8939]

At what point next year will we know if the new tax regulations are effective?

I believe the filing deadline is March. Everyone who files will need a Thai tax ID. So, the Revenue Department should soon be jammed with applicants for a tax ID. Right?

[EverythingThai]

The purpose of this topic is to educate people about the new tax proposals.

Your question has nothing of value for people concerned about Thai taxation. Let's see if you can control yourself and stick to the topic.

It's odd that there isn't any new information about the new tax regulations.

How are Farangs in the village supposed to know to file a tax return?

You should practice what you preach then as this last comment does not have much value either other than hinting that long stay expats living in Isaan are clueless and you are in a better position because you are in the know and they are not. Why didnt you just say all expats need to know when to file. Further, this comment does not make sense, according to the law, everyone knows they have to file, but most wont because as of today, there is no enforcement. What would be of value would be some cold hard facts backed up with references from Thai law.

[EverythingThai]

I have asked many times how TRD will monitor inbound cash flows, and have been assured that they will "see" ATM transactions, Credit Card transactions, and bank transfers, and link those to you so you can't escape.

So. I know many bar girls who live off sponsorship with some Farang sending them big bucks so they stop work. Why isn't TRD pursuing those rather large incoming transactions?

There is a law to follow for banks to report to the Revenue Dept. If it does not fall under this law, no transactions will be reported to TRD.

On 20 March 2019, the Government published the Act to Amend the Revenue Code (No. 48), 2562 be. E. , in the Government Gazette. This Act became effective on 21 March 2019.

Under this Act, the following entities have the duty to report information about a person who made certain types of transactions during the previous year to the Revenue Department by March of the following year:

1. Financial institutions under the law governing such businesses.

2. Governmental financial institutions established under specific laws.

3. Electronic money service providers under the law governing payment systems.

These certain types of transactions must have one of the following characteristics:

1. Depositing or accepting transfers of money in all bank accounts 3,000 times or more in the previous year.

2. Depositing or accepting transfers of money in all bank accounts 400 times or more, for a total amount of THB 2 million or more in the previous year. So you must have 400 transactions and the 2 million, not either or.

The entity liable to prepare such a report must submit the first report for the year 2019 to the Revenue Department by 31 March 2020.

Ministerial regulations or announcements under this Act shall be completed within 180 days of the date that this Act comes into force.

The information to be reported, and the reporting method, shall be as specified in ministerial regulations.

If the entity responsible for reporting this information fails to do so as prescribed under this Act, the Director-General of the Revenue Department has the power to instruct that entity to file the report by the period required. Failure to report the information by the time specified by the Director-General of the Revenue Department may result in that entity being subject to a fine of no more than THB 100,000, and no more than THB 10,000 per day, until the report is submitted.

So, unless they amend this law, nothing more will be done. To amend this law, the government needs time to draft it, present it to parliament and if approved, send it to the senate to approve. Then publish it in the government gazette. This all takes time. So, if this process has not started yet, alas it wont be done in time for the end of this year. Therefore, I dont foresee any changes to the banking laws that will match what you have just said here. Nothing will change.

I also do not know who you have been talking to about TRD seeing all the ATM, credit card, and bank transfers transactions. They wont see a dam transaction unless it falls under this law. Therefore, I suggest you get more informed legal advice from someone who actually knows what they are talking about instead of someone who is peddling the service of getting tax IDs for foreigners at 5000-7000 baht a pop. You can easily do it by yourself for free if TRD will even give you one or if you insist to hire a firm to get it for you, the case is worth 2500 Baht. Thats what we charge. Its so dam easy to get one.

My advice to everyone is to not worry about this until if and when they announce enforcement and that wont happen anytime soon as too much needs to be done internally for enforcement to take place. Not enough time before the end of 2024 and it’s not the governments top priority. As much as many expats seem to think, they are not so important for Thailand. Today the Thai government is focusing on the development of the economy and disaster relief due to the floods in the north and BKK. Yes, you can argue that this will helps the economy if they go after tax dollars from foreigners, but in most cases, the guys that do decide to file, wont have to pay because of the DTA. This new law is only pissing people off that don’t file taxes in their home country so they want to keep that same situation here. Until enforcement is announced, everyone should stop worrying.