@Dave ****

exactly you are classed as a high risk account under the KYC as you say

@Andy ***********

it does if you remit income to Thailand and are Thai tax resident which happens after 180 days in country..

Then the tax residency shifts from Aussie to Thai jurisdiction and in line with the DTA, ie if you paid tax in Aussie on income.. Remitted to Thailand, you will be good..

Remit untaxed money from Aussie to Thailand.. Then you are under Thai jurisdiction and liable for tax in Thailand on that untaxed income

@Andy ***********

exactly

@Andy ***********

they would if you are remitting to Thailand tax free and are tax resident in Thailand 👍

@Paul *******

what you have to understand about CRS is it's mass data transfers... It's up to the receiving end to vet that data.. For example K-Bank has say 6000 British passport holders in Thailand.. That mass data goes to HMRC, it's upto them to vet it...

Conversely British banks /HMRC has 6000 British nationals with accounts in UK and 4000 Thai nationals claiming residence in Thailand or accounts opened on aThai passport...

Your mass data passed to the Thai tax man to vet

HMRC have already tried a fishing trip on with me with my Singapore account.. But i am non resident in the UK for tax .. So politely told them to FO.. 😁

@Paul *******

they can find out easy enough.. 👍

@Paul *******

of course they are.. They ask for your tax numbers under every jurisdiction you fall under..

You refuse.. You are classed as a high risk account for money Laundering or tax evasion and they close your account..a bank as a business can choose who their clients are

@Andy ***********

interesting point.. As I guess on paper this would look like money laundering wouldn't it ❓

@Andy ***********

same thing happened in Europe years ago with offshore accounts, prove your tax residency or close your accounts, went through it with my Singapore accounts some years back under same threat... 👍

@Sue *********

it has everything to do with it 👍