Answered2 years ago
Will I have to pay extra taxes in Thailand on my income transferred from abroad if I stay for more than 180 days?
Hello!
After the DTV is approved, I want to transfer my income from my home country to a local bank in Thailand to use for my living expenses.
However, in this case, if I live in Thailand for more than 180 days, will I have to pay extra taxes to Thailand on the transferred amount?
I am from a country that has a DTA(double taxation agreement) with Thailand.
After the DTV is approved, I want to transfer my income from my home country to a local bank in Thailand to use for my living expenses.
However, in this case, if I live in Thailand for more than 180 days, will I have to pay extra taxes to Thailand on the transferred amount?
I am from a country that has a DTA(double taxation agreement) with Thailand.
Answer summary
The discussion revolves around the implications of transferring income from a home country to a Thai bank account after obtaining a DTV visa. Several commenters agree that tax liability in Thailand depends on the specifics of the income and the tax treaty with the home country. Key points highlighted include: 1) If the money has already been taxed in the home country under a Double Taxation Agreement (DTA), it may not incur additional tax in Thailand. 2) Concerns were raised about difficulties in opening a Thai bank account as a DTV holder and the potential necessity of considering alternative methods for managing finances. 3) There are varying opinions on the best approach for handling funds, including keeping money in accounts outside Thailand until residency status changes.
63 repliesnewest first
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Thorsten *********
Get a wise account and just withdraw, I wouldn't put the money on a Thai account
Anonymous *************
OP@Thorsten ********
I can't seem to send Korean Won via Wise
Henrik *****
Keep you money where they are now, it will be close to impossibel to get a Thai Bankaccount on DTV,and it has never been the intention DRVholders should have a Thai Bankaccount.
If Thai bankaccount is important, then change to a real long term visa, (instead of a touristvisa), and you may have a small chance to get a Thai Bankaccount when you have stayed some months at a long lease permanent adress.
A Thai Bankaccount has never been a requirement to get DTV, on the contrary it has been one of the big advantage over other visa, that you could get DTV as long as you could show 500.000 Baht equivalent in any bank anywhere in the world.
It has never been the intention that DTV visaholders should be in need of a Thai bankaccount.)
If Thai bankaccount is important, then change to a real long term visa, (instead of a touristvisa), and you may have a small chance to get a Thai Bankaccount when you have stayed some months at a long lease permanent adress.
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9-thailand-to-implement-stringent-compliance-regulations-for-new-bank-accounts?*********************************************************************************************
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77-foreigners-face-new-hurdles-in-opening-thai-bank-accounts/ (Be aware there is a error in the start of the article ( and several other copy - paste media with the same article )A Thai Bankaccount has never been a requirement to get DTV, on the contrary it has been one of the big advantage over other visa, that you could get DTV as long as you could show 500.000 Baht equivalent in any bank anywhere in the world.
It has never been the intention that DTV visaholders should be in need of a Thai bankaccount.)
Warren *********
It’s too complicated for an answer here
Roughly …
If the money you are transferring is considered income then you are legally required to file tax documents
How much you have to pay in tax depends on your home country taxes and tax treaty and maybe a few other things
Whether Thailand will enforce this new tax law, or change it after hints that many wealthy foreigners will leave, is all up in the air
Please note that I have been told many times in this group that I’m stupid so don’t rely on anything I say 🤣
Roughly …
If the money you are transferring is considered income then you are legally required to file tax documents
How much you have to pay in tax depends on your home country taxes and tax treaty and maybe a few other things
Whether Thailand will enforce this new tax law, or change it after hints that many wealthy foreigners will leave, is all up in the air
Please note that I have been told many times in this group that I’m stupid so don’t rely on anything I say 🤣
Jim ********
@Warren ********
Actually you're 100% correct ✅. There is no "one glove fits all" answerPete *******
What you could do is enter Thailand after July, transfer all the 5 year living expenses into your Thai bank account by the end of December of that year. You would not be tax resident so all those remittances would be tax free. Then the following years when you would be tax resident you are making no remittances as the money is already safely deposited in your Thai bank account.
Sean *******
@Pete ******
So you are trolling, that's a relief. I've screenshot your original comment just in case you edit it. Have a good day.Pete *******
@Sean ******
bye moron….Sean *******
@Pete ******
For your grand plan to work you have to stay under 180 days a year forever. Unless you can prove the money was earned before 1 Jan 24. Have you got it now?Pete *******
@Sean ******
nonsense, you transfer the whole 5 year living expenses whilst you are not tax resident. Why is the concept so difficult to understand?Expat **********
@Pete ******
Ok you clarified. That is correct. Not sure how many people can bring in 5 years living expenses in one go though…Pete *******
@Sean ******
it was only your own words that exposed your ignorance….Pete *******
@Expat *********
but that is not what I stated. Read my post, come in after July and you have until end of December to remit your 5 years of living expenses tax free. The concept is very simple I’m wondering why you are struggling with it.Expat **********
@Pete ******
Which confirms exactly what I wrote. You’re TAX RESIDENT in thailand this year and you bring in income earned after Jan 1st 2024, it’s assessable for tax….Sean *******
@Expat *********
Waste of time arguing with this clown. Luckily for him the rule change is aimed at wealthy foreigners and not paupers living on a ฿500 a day in Isaan.Pete *******
@Expat *********
not true, any foreign sourced income earned whilst not tax resident even if remitted in future years is not taxable. The cut off date of ***
/24 refers to foreign sourced income earned whilst tax resident.Expat **********
@Pete ******
I’m sorry, you’re wrong. That won’t work anymore.You would have to have had the 5 years of expenses ( in cash) amassed before Jan 1st 2024.
Now if you’re tax resident (180 days or more in Thailand in a calendar year), and transfer money in, that money is assessable for Thai tax unless you’re one of the very few whose visa precludes you from tax on foreign remittances.
Sean *******
@Pete ******
You said when you're tax resident the year after it won't count. Which is exactly what all the fuss is about with the recent rule change.Pete *******
@Sean ******
ok you’re just making yourself look more and stupid by demonstrating your ignorance of Thai tax law. Suggest you do some basic research on tax residency requirements and actually read the Revenue Code that is available on the Revenue website. You see again you have confirmed my point. Let me point out the blindingly obvious to you. Read the infographic, where it says foreign sourced income is subject to tax IF the income was earned by a foreigner who STAYS IN THAILAND FOR 180 DAYS OR MORE IN A TAX YEAR. Thus anyone staying less than 180 days in a tax year PAYS NO TAX!Thank you again for confirming my point and perhaps it’s time for you to return to your village, it’s missing you.
Sean *******
@Pete ******
Stop digging pal just admit you don't know what you're talking about.Pete *******
@Sean ******
do you understand that infographic? It states foreign remittances whilst not tax resident are not taxable which is exactly my point. Maybe reading and comprehension are not your strong points….Sean *******
@Pete ******
You haven't got a scooby doo have you? The recent rule change is stop people doing exactly this.Pete *******
@Sean ******
the rule change you are referring to has no effect on tax residency requirements, which remain unchanged. If you are not tax resident then any foreign remittances you make do not qualify as assessable income under the Revenue Code. This is basic tax law for dummies.Expat **********
@Pete ******
Poster already stated that he plans to stay here more than 180 days…
Christopher ********
Can’t. No bank on this visa. Then you owe taxes bc it’s been remitted to Thailand. Not a good financial move.
Anonymous *************
OPThank you all for your kind advice!
John **********
Maybe. It will depend on how much tax you pay in your home country against how much tax you would pay in Thailand. Basically you pay the higher of Thai tax or your home country tax
Greg ******
@John *********
Correct ✔️ on remitted money to Thailand only.Pete *******
@John *********
agree, the actual answer is it depends on the specific circumstances. Maybe yes, maybe no.
Ian **********
If the money you bring onshore has already been taxed under a DTA, you do not have a tax liability in Thailand even though you are technically a tax resident.
Pete *******
@Ian *********
that statement is incorrectIan **********
@Pete ******
here's what the official Thai revenue website says C. Elimination of double taxationThe focus of a DTA is the elimination of double taxation. Each DTA may prescribe different methods of elimination of double taxation of a person by the resident country:
(1) Exemption method
The country of residence does not tax the income which according to the DTA is taxed in the source country.
Pete *******
@Ian *********
I am well aware of how DTA’s work in practice and your statement that “money you bring onshore that has already been taxed under a DTA will not have a Thai tax liability “ is blatantly and demonstrably false.Expat **********
@Ian *********
Incorrect. Depends on DT agreement and also whether the marginal rate of tax is higher in thailand than that which he has already paid tax in his home country. If the Thai tax is higher he probably needs to pay the difference.
Brian ********
@Ian *********
depends on the terms of that specific DTA. My DTA, requires the difference between my home and Thai taxes to be paid, unless it falls into certain groups, which sadly I don’t.Anonymous *************
OP@Ian *********
Thank you for your advice!
Mar *****
Try opening a Bank account first chief that's can be quiet good fun to say the least...
Good luck...
😎🙏🏽
Good luck...
😎🙏🏽
Anonymous *************
OP@Mar ****
I have a few local bank accounts in ThailandMar *****
Anonymous seems like you already know about the DTA so possibly speak to an accountant they'll give you the correct information...
Pete *******
You have given no details to enable an accurate answer. So the only answer is it depends…..
Anonymous *************
OP@Pete ******
What information do I need to provide? I have a few local accounts in Thailand and I'm from South Korea.Pete *******
Anonymous participant are you tax resident when you remit the funds, are the funds assessable income, does your DTA exempt the remittance, what is the source of your remittance?
Luke ****
Do you already have a Thai bank account? If not try wise
Wannikea *********
@Luke ***
beside dying the death of a thousand ATM fees, how's Wise gonna help?Anonymous *************
OPYes, I already have bank accounts in Thailand
Luke ****
@Wannikea ********
well easy way to transfer money from local bank to Thai currency to use for living expensses
Anonymous ******************
it depends where you come from
Anonymous *************
OP익명의 참가자 818 from South Korea
Sean *******
No.
Anonymous *************
OP@Sean ******
Thank you for your wisdom.Unfortunately, I am not very good at English.
Based on your opinion, does it mean that from January 2024, if I stay in Thailand for more than 180 days per year with DTV, I will not have to pay double tax to Thailand on the amount transferred to a bank account in Thailand from abroad (salary income earned abroad)?
Thank you in advance!
Sean *******
Anonymous participant The tax year is from Jan to Dec. If you didn't spend more than 180 days here last year then you're not tax resident and don't have to do anything. If you spend more than 180 days here this year you will be. And might have to file a tax return by 31 March 2026.
Sean *******
Anonymous participant Wait and see what happens to all the people who won't be paying tax for last year. If they are punished then you can think about paying next year. 🙂
Anonymous *************
OP@Sean ******
I will be staying in Thailand from mid-April this year and will definitely spend more than 180 days in Thailand each year.This means that I will be subject to double taxation even if I am from a country that has a DTA with Thailand,
Sean *******
Anonymous participant Until all banks require a TIN and it's linked to Immigration then there's no tax to pay. Relax and don't listen to the fear mongers.
Pete *******
@Sean ******
what an utterly ridiculous statement to make.Pete *******
@Sean ******
key word - accurate - to which you have a very shaky relationship. Just about everything you have posted today has been false and misleading. Yet here you are again making ridiculous untrue statements.Sean *******
@Pete ******
Enough of your trolling this group is for sharing accurate information. Of which you have shown to have very little.Pete *******
@Sean ******
you cannot make that determinationExpat **********
@Sean ******
Yes. ProbablyPete *******
@Expat *********
you cannot make that determinationExpat **********
@Pete ******
Hence the word “probably”……Activity
17 joined17
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