Tax residency in Thailand and taxing overseas income

[pharvey]

^ Thanks for the clarification.

[Big Boy]

Quite simple - up until now there’s been no need to register and report anything regarding tax!!

And still, AFAIK we don't know how arduous a task that will be.

Thailand has a record of trying to ruin Farang's Christmases with huge threats hanging over their heads. I've never known one happen in the way people had been predicting. The only people pushing this threat are the tax advisors who are hoping to make a killing out of this, and the scaremongers, who are as bad as the people who come up with the suggested laws.

I say have a great Christmas guys, and don't worry about tax, if there is in fact anything to be worried when they give us the detail of what hoops we need to jump through and where. I think they are lightyears from that announcement yet. If they aren't. shit happens - worrying is not going to stop it. Until then, just continue enjoying life.

[Meerkat]

All foreigners clocking up 180 days residence here, or more, during the calendar year 2024 should obtain a tax identification number from the Thai Revenue Department.
https://www.pattayamail.com/latestnews/ ... ert-478899

Unless they have changed the rules recently, HH Revenue Office will only issue a TIN to foreigners who are working in Thailand.

They issued me with one in September. They were clear and helpful.

[Dannie Boy]

Quite simple - up until now there’s been no need to register and report anything regarding tax!!

And still, AFAIK we don't know how arduous a task that will be.

Thailand has a record of trying to ruin Farang's Christmases with huge threats hanging over their heads. I've never known one happen in the way people had been predicting. The only people pushing this threat are the tax advisors who are hoping to make a killing out of this, and the scaremongers, who are as bad as the people who come up with the suggested laws.

I say have a great Christmas guys, and don't worry about tax, if there is in fact anything to be worried when they give us the detail of what hoops we need to jump through and where. I think they are lightyears from that announcement yet. If they aren't. shit happens - worrying is not going to stop it. Until then, just continue enjoying life.

Hence why I’d previously said

I think it’s fair to say that unless someone in authority gets their act together PDQ, it’s going to be chaos in 2025 with no one knowing what to do, so at the moment, doing nothing seems the best option!!

[caller]

I received an email earlier, headed: Subject: Request of FATCA/CRS information. It's all about tax! Anyone else got one? Its from Kbank, and it looks official-ish, but I will be checking with my bank first, as they have addressed the email to 'Dear valued customer' and not by name, and they are asking me to to complete and submit two forms and a copy of my passport, which they must have at least a dozen times over. I won't be opening the links until I speak to my bank and I won't provide them with a copy of my passport in this way. And besides, I'm watching footie.

[sateeb]

I got it too. They are not links but documents that look as clear as mud.

[Big Boy]

I'm with K Bank, but haven't received anything.

[sateeb]

The first 2 documents are official US IRS Forms and the 3rd is a Kasikorn document headed Individual Self-Certification.

[pitsch]

I also received the email and it seems very suspicious to me

[STEVE G]

I see that the Kbank website has forms available for download that seem related:
https://www.kasikornbank.com/en/downloa ... esult.aspx

[caller]

I have been reading of folk in isaan getting the email, some American, who because of the US tax forms, assumed it was for US folk only. I too, am suspicious, partly because of the phone number given, which a little research shows, is known, and reference is made to Kbank, but I can't work out as being legit, or a scam, but I didn't look too hard - 02 888 8888. I have big doubts about the email, even more so, now I know what the links Reference. Hence the reason I left the links well alone.

[Big Boy]

The fact I use the same bank, but have not received anything yet makes me even more suspicious. I will follow with interest.

[Big Boy]

The fact I use the same bank, but have not received anything yet makes me even more suspicious. I will follow with interest.

It seems I lied . I've just found the e-mail in my spam folder.

[Don East Stand]

My wife and I both received the email as we are customers of Kasikorn Bank.

I did note in the email they state, "The CRS aims to combat tax evasion by individuals residing outside Thailand"

I'm not sure I understand that correctly Does it mean they're not interested in individuals residing in Thailand?

I'll have to ponder this one for a few days I think.

[sateeb]

Copy of the e mail for those interested. Not sure about all the suspicion, the telephone number given IS Kasikorns official # added with an extension number, Ignore at your own peril. From a personal point of view I will submit the Kasikorn document and keep a copy for immigration.'
I've highlighted a couple of points of interest.

Dear Valued Customer,

We, KASIKORNBANK PUBLIC COMPANY LIMITED, would like to express our sincere gratitude for entrusting us in providing you our products and/or services. As part of Thailand’s participation in the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information (MCAA CRS), financial institutions are obligated to submit certain information to the Revenue Department, Ministry of Finance, in accordance with the Emergency Decree on Exchange of Information for Compliance with International Agreements on Taxation, B.E. 2566 (2023) and related regulations (hereinafter collectively referred to as the “CRS”).
The CRS aims to combat tax evasion by individuals residing outside Thailand and to ensure compliance with international taxation standards. In light of these requirements, we kindly request your cooperation in completing the following steps:
1. complete and sign the attached forms, which include:
1.1 FATCA/CRS Individual Self-Certification,
1.2 IRS Form W-9 (if applicable), and
1.3 IRS Form W-8BEN (if applicable);
2. provide a certified true copy of your passport; and I wonder if Immigration will certify?
3. return the completed forms and document(s) abovementioned to us by email at K-CustomerFATCACRSUpdate@kasikornbank.com no later than December 20, 2024.
We sincerely appreciate your prompt attention to this matter and apologize for any inconvenience this may cause. If you have already completed these actions or your information has already been up-to-date, please kindly disregard this request.
Should you have any questions or require clarification regarding the CRS or how it applies to your specific situation, please consult with your legal or tax advisor. You may also refer to the Revenue Department, Ministry of Finance, for further guidance. Please note that KASIKORNBANK PUBLIC COMPANY LIMITED does not provide you any tax or legal advice, and we shall not be held liable for any damages, whether direct or indirect, arising from your use of or reliance on any information provided by us related to CRS or taxation.
If you have any questions or require any assistance, please do not hesitate to contact K-Contact Center at Tel: 02-888-8888, ext. 876.
Please be informed that, in accordance with our policy, none of your personal information shall be requested via telephone or SMS.


Best regards,
KASIKORNBANK PUBLIC COMPANY LIMITED