What do expats need to know about taxation as tax residents in Thailand?

Question

Taxation of Tax Residents - look at the video 3:15.

Interesting 3 points made.

Some very good info in here I had not heard before. One thing that was new to me is banks report to revenue all accounts with over 2 million THB in or 400+ transactions a year.

Bottom line for DTV holders - unless you are remitting large amounts of money you earned in the same tax year you are tax resident then do not worry so much about tax.

EDIT: Around 30 mins they clear up ATM and CC use - yes it counts as remmitance

Ask Thailand · Answer

The discussion highlights key points about taxation for tax residents in Thailand, particularly focusing on the implications for DTV (Digital Nomad Visa) holders. It emphasizes that banks report accounts with over 2 million THB or 400+ transactions, but suggests that non-residents or those not earning large amounts in the tax year need not worry much about taxation. Various comments express skepticism about the enforcement of tax tracking for ATM and credit card use, suggesting it may be used more as a scare tactic than practical enforcement.

Christopher ******** · Answer

I just used a credit card. Even for rent via wise I can. It’s debt not income. No credit card 💳 me no pay. Good luck to all🍀

George ******* · Answer

Well this video has put to bed all the scaremongering expert Farangs 😂😂😂

Anonymous ****************** · Answer

I just moneygram money into my wife's bank account. Doesn't have my name nor are we married in thailand. Wonder if that would traceable 🤔

Divya ********** · Answer

It's still to be seen how they'll track down ATM and CC uses and then tax foreigners based on this. They simply do not have the manpower to do this. Yes, they might track down couple foreigners, but it'll just be a scare tactic just to make foreigners report it themselves out of fear. 400+ transactions a year in bank account being reported? Hardly. I don't see bar ladies and freelancers filing their income taxes, or tax department even coming after them, even though they every single one of them definitely have more than 400+ transactions a year. The whole video is a scare tactic by lawyers wanting more clients by fear mongering.

Yes, paying taxes is good. But only if you're someone here with a work permit working a job or business, or if you're someone who's trying to get PR or Citizenship eventually down the line. For every other regular guy either on DTV or Retirement visa, paying taxes in Thailand makes no sense when you don't get any benefit out of it.

Yes, paying taxes is good. But only if you're someone here with a work permit working a job or business, or if you're someone who's trying to get PR or Citizenship eventually down the line. For every other regular guy either on DTV or Retirement visa, paying taxes in Thailand makes no sense when you don't get any benefit out of it.

What do expats need to know about taxation as tax residents in Thailand?

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