What are the tax residency rules in Thailand regarding the 180-day stay and bank accounts?

Imagine being treated like a second class citizen and still paying your money like an actual citizen....thats on you if you think living there is so great. either pay 10-20k in local account or enjoy your 2nd class border runs. lol

how will they even know your income when your bank is out of country?

Here's an overview. Basically over 180 days.......

Like most countries.

More than half a year makes you tax resident.

Here is the criteria: No more 200 deposit transactions per year or less than 2 million baht in total deposit transaction each year, the Thai bank will not report to the dept.

the bank account is not relevant but it may be a factor because that’s where they will start monitoring how much money you have brought in from OS if you transfer solely into a Thai bank account. The banks will be required to report to the Revenue Department accounts owned by foreigners that bring in at least X amount per year. I would think that services like Western Union will at some point in the future will have reporting requirements. I attended a seminar presented by tax agents with a Revenue Department officer there. This is what they said. They added that with the implementation of AI tracking will become easier

I'd suggest that having a Thai bank account is very relevant.. since you can only be taxed (or assessed for tax) on the income you bring into Thailand.. and the only way that can be assessed is via your bank deposits.. meaning if you self declare your income on a tax return they will ask to see your bank statements to verify it.. your overseas bank account is irrelevant.. so if you don't have a Thai bank account you will never pay tax.. unless you volunteer to do so.. however the reality is that you can't stay here on a long term visa (eg. married or retirement visa) without having a Thai bank account.. and these are the majority of people that will be caught by the 180 day ruling.. very few people will live in Thailand for 6 months without a bone-fide visa.. so it's nonsensical to suggest a Thai bank account is not going to be part of the tax equation!

Good News

You can write off the Sick Buffalo

Sleep braub dead

I have asked two different tax office and get totally different answers, and in my hometown they refuse to give me a TIN number because my home country have a dual tax agreement with Thailand since 1988.

Thai bank account is totally irrelevant

Yes ageee

Until someone actually gets taxed by the Thai government no one knows what is happening. I would consult a Thai tax specialist/lawyer

Golden Rule: Never take for granted what you are "told"

Nothing to do with having a bank account. 0vrr 180 days is key for potential tax

So does this mean you pay taxes in both countries you live in

And

You are a tax resident of any country you spend more than ½ the year in... But that doesn't really mean anything other than you are supposed to file your primary taxes in your country of residence and possibly (like in case of USA) file taxes in your home country claiming any tax paid in your tax residence country as a tax credit on your home country taxes.

It seems most expert fbookers dont even know what the allowances are: A. PERSONAL ALLOWANCE

(Thai Baht)

Taxpayer 60,000

Spouse (if spouse has no income) 60,000

Legitimate child of the taxpayer or the spouse (without limit),

Additional allowance for legitimate child of the taxpayer or the spouse from the second child onwards who was born in or after 2018 Each 30,000

Taxpayer's adopted child (maximum 3),

(If there are legitimate and adopted children together, a maximum of only 3 children is allowed) Each 30,000

Parental care Each 30,000

Care of disabled or incapacitated family members Each 60,000

Care of a disabled or incapacitated person other than a family member Each 60,000

In addition, a Thai Tax Resident who is over 65 years of age or who is disabled is entitled to personal income tax exemption on the net income up to Baht 190,000 per tax year.

B. INSURANCE ALLOWANCE

(Thai Baht)

★Total not Exceed 100,000 Thai Baht

★Life insurance and savings insurance Not exceed 100,000

★A health insurance Not exceed 25,000

Health insurance of taxpayer’s parent

(Or the parents of the spouse of the taxpayer) Not exceed 15,000

Social Security Contributions Not exceed 9,000

C. INVESTMENT FUNDS ALLOWANCE

(Thai Baht)

Total not Exceed 500,000 Thai Baht

Retirement Mutual Fund (RMF) 30% of income, not exceed

500,000

Super Savings Fund (SSF) 30% of income, not exceed

200,000

National Savings Fund Not exceed 30,000

Provident Fund (PVD) / Formal School Promotion Fund 15% of income, not exceed

500,000

Qualified pension life insurance 15% of income, not exceed

200,000

Government Pension Fund 30% of income, not exceed

500,000

See all these non qualified tax specialists giving advise again—if you want to submit find a qualified accountant—not a facebook googler🙈🙈🙈🙈

How much is income tax in Thailand?

You're a Thaï tax resident if you stay in Thaïland more than 180 days during the year, not consecutly, total. Bank account has no bearing whatsoever on your residency. Without à bank account , you could fly under the radar more easily but you also forgo the conveniency of having à Thaï bank account. And if you get on their radar, they'll get you anyway. Remember, Al Capone was not cought by the FBI, he was cought by the IRS

Noted

If you read these comments, one thing you will be sure of, none of them haven't got a clue what they are commenting on.

Amazing how many people converse with Facebook expat experts

Rather than consultant with professional Thai tax experts

having a bank account is not relevant. it's stay more than 180 days in the country

Been here 10+ years .. have 2 Bangkok bank accounts , never paid or been asked to pay tax on either

you were told incorrectly. Whether or not you have a Thai bank account doesn't matter. 180 days is critical

You are a Tax Resident when you stay longer than 180 days in a calendar year.

If you need actually pay tax depends on a few more variables.

Consult a tax specialist.

Most countries , if you stay over 180 days you risk being tax resident as it becomes your main residence. The bank account is irrelevant

CORRECT SIR

If you have a business in Thailand and you make a good profit you have to pay taxes and it doesn’t matter if you stay 180 days or not you still have to pay the taxes,the same in most countries

If you spend 180 days or more in any calendar year inside Thailand you are automatically a Thai tax resident. The bank account is irrelevant

What's the story if you pay taxes in your local country?

If you transfer "old" savings it's tax free.

You pay tax for monthly income.

Thai bank account has nothing to do with it

Local Income Tax Brackets (2024 rates):

0–150,000 THB: 0%

150,001–300,000 THB: 5%

300,001–500,000 THB: 10%

500,001–750,000 THB: 15%

750,001–1,000,000 THB: 20%

1,000,001–2,000,000 THB: 25%

2,000,001–5,000,000 THB: 30%

5,000,001+ THB: 35%

You automatically become Thai tax resident after 180 days residence in Thailand in a tax year. Having a bank account is irrelevant. What’s your point?

The first part is correct. 1 condition = 180 days in the tax year.

Okay.

I don’t know one person who has paid tax on money they brought over to live in Thailand.

@Jay ******

so far true but whats your point. Many other factors come into play

Not sure the Thai bank account is relevant but you’d need to consult with an accountant or tax advisor.