Answered10 months ago
Will I be taxed if I deposit money from selling my house in Ireland into a bank in Bangkok, Thailand?
If I sell my house in Ireland and deposit in my Thailand Bangkok bank will I be taxed on this money?
Answer summary
When you sell your house in Ireland and deposit the proceeds into a bank in Bangkok, Thailand, you may be subject to Thai personal income tax. If you are considered a tax resident (having spent more than 180 days in Thailand), any foreign-sourced income, including capital gains from the sale of property, will be taxed when brought into Thailand. It is advised to keep your money in your local bank and transfer only what you need to avoid complications with taxation and regulations.
20 repliesnewest first
Click comment and we will ask for your email, then OTP, then name.
Dom ********
“Any foreign sourced income, including capital gains from property, is subject to Thai personal income tax when it is brought into Thailand”
So assuming you are a tax resident, seems you will owe tax on the difference between what you bought the property for and what you sell it for
So assuming you are a tax resident, seems you will owe tax on the difference between what you bought the property for and what you sell it for
Anonymous ******************
Incorrect, dtv visa van have a tin number.
Tin number depend if you are thai tax resident or not.
Tin number depend if you are thai tax resident or not.
Andrew ********
Yes - keep the money in your local bank and move what you need however tax status will depend on yoir visa if you are non-o the transfer will be assessed under thai law. I would keep the money out and move what you need - you have to be in thailand on non-o visa and 180 days out of a calendar year doesnt have to be consecutive
Anonymous ******************
@Andrew *******
Your visa status is largely irrelevant (LTR visa having some explicit exemptions) with regard to your tax status in Thailand. Tax residency is a binary thing and Thailand will consider you to be a tax resident after you spend a cumulative 180 days or more in Thailand in a calendar year so even someone on visa exempt may be considered a Thai tax resident.
Andrew ********
Anonymous participant 585 another example i know two americans on retirement visa bank account here and all they do not spend more than 5 months of the year here and they dont get assessed
Andrew ********
Anonymous participant 585 incorrect DTV does not get TIN its visa specific but thanks for trying - i just got the paper work for a TIN you have to have a non-o visa. DTV are tourist visa and do not "live" here according to thai law - visa exempt can not be used more than 150 days of the year tourist are just that tourist. DTV is a tourist visa. Your income is assessed after 180 days in a year and to apply for TIN you have to have a non-o visa. When you goto the revenue department to apply you have yoir passport and visa and they will tell you Non-o visa required AND bank account funny how they messed with bank regulations and knocked so many out for having one
Now I know why you post covering your name
Now I know why you post covering your name
Anonymous ******************
@Andrew *******
DTV holders can and have received TIN numbers. The RD doesn’t care what visa or lack thereof you are on.Please show me a source from the Revenue Department showing that only holders of specific visas are eligible for a TIN as their own website makes no claim or assertion (
*****************************************
*****
.html).Individual offices may have their own sets of rules as some people have gone in and been told they don’t need one without income in Thailand but someone can have tax liability in Thailand regardless of their visa status. A multi-million baht transfer will almost certainly trigger automated reporting by the financial institution. Whether or not tax is actually owed would depend on double tax agreements and other factors and is best discussed with a qualified Thai tax professional.
Anonymous ******************
If you get DTV your Thai bank account will be closed 🤣🤣🤣🤣🤣
Wannikea *********
How many days would you be spending in Thailand during the year you deposited the funds? You become a tax resident after spending 180 plus days.
Pete *******
Yes that would attract a Thai tax liability as you were a tax resident at the time of sale.
Andrew *********
Why would you move money into Thailand to recieve no interest and have to get permission to take it out the country when you want to ?
Yuyu ******
OP@Andrew ********
I have been living in Thailand 19 years and my Irish bank closed 10+ years ago so I have no a/c there.Yuyu ******
OPIf I could open an a/c in some other country without being resident I would then not need to bring funds to Thailand.
KC ****
Yuyu Jang keep your house in ireland and open a bank account there. You are only a guest in Thailand. Don’t keep all your money here. You’re crazy if you do
Yuyu ******
OPI don't have bank a/c anywhere but Thailand.
Andrew *********
Yuyu Jang Internet bank or do you still have ties in another country.
Honestly Thailand is the last place you'd want to move money to.
Honestly Thailand is the last place you'd want to move money to.
Anonymous ******************
No. Up to you actually: if you enjoy the hassle and insist on paying income tax in Thailand, then file the declaration and all.
Yuyu ******
OPAnonymous participant 142 I think Bangkok bank will notify revenue that 10+ million Baht was lodged in my a/c.
Anonymous ******************
Yuyu Jang have you seen stats how many Thais file their tax declarations?
Anonymous ******************
Yuyu Jang this is Thailand, no one cares
Activity
11 joined11
people
Related
25What documents are required to obtain a Thai TIN while holding a DTV visa?
430515d
What financial advice is available for UK expats in Thailand regarding taxation rules under a DTV visa?
1.4k1474mo
What is considered Thai-sourced income for DTV workcation holders?
1.5k11175mo
What are the implications of a proposed snowbird visa for older travelers in Thailand?
16.9k903325mo
What are the tax obligations for expats in Thailand with an online income?
1k6155mo
Do my wife and I need to each have 500,000 baht for our Thai visas or can we use a joint account?
1.4k12125mo
What actions should I take regarding my tax liability in Thailand with UK rental income?
9.8k561786mo
What are the tax implications for Australian income if residing in Thailand on a DTV visa?
1k1028mo
Do I need to report my address to immigration for the 90-day check with a DTV?
3.2k23389mo
What are the requirements for applying for a DTV visa as a freelancer in Thailand?
288110mo
What should a freelancer know when applying for a DTV visa in Thailand?
4971110mo
Do I have to pay income tax in Thailand after staying 180 days with a DTV and doing a border run?
2.8k222810mo
What agency can I contact in Pattaya for assistance with a DTV visa in Thailand?
2.9k23291y
Can the DTV visa holder stay in Thailand for more than 180 days per year?
5k32681y
How does Thailand enforce taxation on expats and remittances?
7.2k59601y
Is income earned remotely while on a DTV visa in Thailand considered Thailand-sourced for tax purposes?
4.6k40251y
What tax implications should I consider as a Japanese national staying in Thailand for over 180 days on a DTV visa?
765371y
Do you have to pay taxes in Thailand if you have 2 million baht in a bank account?
6.3k44741y
What is the process and required documents to cancel a DTV visa for a child in Thailand?
2.1k14111y
What are the current tax implications for expats transferring savings to Thailand after January 2024?
14.2k1131432y
What should I do regarding my DTV visa before returning to Thailand after staying abroad for 6 months?
2.2k20122y
Could a late return date affect my pending visa approval?
606332y
What are the tax obligations for expats living in Thailand for more than 180 days?
9.4k100422y
Do DTV visa holders have to pay taxes in Thailand?
4.5k27172y
What should I know about relocating to Pattaya, Thailand, regarding visas, finances, and living arrangements?
18.2k1502042y
Resources
Need help with your DTV visa?
#1 visa agent · 4,000+ reviews · 100,000+ expats served