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remittance rules
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I need some legal understanding, if someone would be kind enough to clarify this for me. We are having an internal family debate over the Thai government website in regarding opening a bank account.
We have the DTV visas, and IF we bring money into a thai bank account - so foreign income that WAS already had paid tax on in Australia, is apparently to be TAXED here again if you spend over 180 days in year.
I know SO many people WHO have bank accounts here that live here for a long time and do not pay tax.
My partner thinks that whatever is on the government website is in fact law and is protected from it…
Could someone please clarify. Thank you
(Putting this in multiple pages to get more reach to hopefully get the right answers). Thank you
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
So as far as I know, once someone is staying in Thailand 180 days or more a year, he is considered a tax resident.
I know that only income remitted into Thailand and earned after January 1st 2024 is taxed.
Can anyone shed light on what it actually means? I don't intend to open a bank account in Thailand, I only work with cash, meaning that (as far as I know) I don't need to pay taxes in Thailand (I pay in my home country of course).
Do I need to file any forms? Declare anything? If so which one and how is it done?
I can't find too much concrete information addressing the practical steps needed to be taken. Anyone got any more details on the matter?