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Every year i get a print out from the bank  (Siam commercial bank)of the total amount of interest made and the tax deducted ,I take it to the  local tax office and within 1 month get the refund , this year I summited the tax form in January but as of now have not received any notification  ( they send a letter confirming the refund)  .I went to local office end of march to find out what happening they say delay because of covid 19. maybe !

Has anyone had the same delay for there refund?

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In my local tax office (Chonburi) it takes a couple of months to come through.

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i just got mine last week. And IIRC didn't submit at revenue office until early February.

 

 

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There are many topics about claiming it back on this forum.
As soon you have reached the point of receive a TIN (Tax Identification Number) then it's quite easy to claim back the withholding tax!

This year it took less than 2 weeks, as it was the first time I upload my document online with the tax refund form. Normally I have to go to the office to bring them my documents.. and then it takes about 1 month for receiving the amount on my account.

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3 minutes ago, HampiK said:

There are many topics about claiming it back on this forum.
As soon you have reached the point of receive a TIN (Tax Identification Number) then it's quite easy to claim back the withholding tax!

This year it took less than 2 weeks, as it was the first time I upload my document online with the tax refund form. Normally I have to go to the office to bring them my documents.. and then it takes about 1 month for receiving the amount on my account.

Cool, do you have a link to where you upload, that would save a lot of time?

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3 hours ago, TigerandDog said:

Once your bank account has been credited with the December interest, go to your bank in early January and ask them for a letter showing how much interest you've been paid for the year and how much tax has been deducted ( usually 15% for foreigners ).  Then before the end of March take the bank letter and your passport to your local Revenue Office, and best to take a Thai speaker with you, and say you wish to lodge a tax return. If it's your first time they'll get you to fill out some forms, you'll be issued with a tax number to be used for all future tax returns. If you use prompt pay they'll credit your prompt pay account otherwise you will eventually receive a letter advising you to go to Krung Thai bank to receive your refund. Krung Thai will issue you with an e-money card and credit the card with your tax refund. You should then be able to withdraw the refund at an ATM if it's more than 100 baht.

Thanks for the info. I did not claim last 3 years and I don't think I will bother going through the effort for 115 baht/year. Not worth the headache 

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Posted (edited)

Applied Feb 8th in Bkk heard nothing at all since, oh no that was opening Krung Thai account so must have been at the tax office a couple of weeks before. Somebody mentioned on here they once waited 6 months

Edited by clivebaxter
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Posted (edited)
7 hours ago, TigerandDog said:

Once your bank account has been credited with the December interest, go to your bank in early January and ask them for a letter showing how much interest you've been paid for the year and how much tax has been deducted ( usually 15% for foreigners ).  Then before the end of March take the bank letter and your passport to your local Revenue Office

Is it possible to apply for last

years ? or it's already too late for past years ?

Edited by The Theory
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10 minutes ago, The Theory said:

Is it possible to apply for last

years ? or it's already too late for past years ?

You can apply I believe for up to the last three years.  There is a nominal administrative fee for filing late, something like 100 baht maybe.

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I submitted a claim to Chonburi tax office in May last year for 2019 and in January this year for 2020. Heard absolutely nothing! Reminded them in January about 2019 and was told to go back if didn't receive anything. Another trip to the tax office coming up to rattle their cage!

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2 hours ago, Ecky said:

I submitted a claim to Chonburi tax office in May last year for 2019 and in January this year for 2020. Heard absolutely nothing! Reminded them in January about 2019 and was told to go back if didn't receive anything. Another trip to the tax office coming up to rattle their cage!

You tried to check the status of your claim?
That's the easiest to check of the progress. And you can find out if you should submit any additional documents.

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9 minutes ago, shortstop2 said:

 

I still haven't gotten my 2020 refund despite filing at Chonburi Revenue Office around January 3rd or 4th.  I checked on the 4th floor there a few weeks ago and they said to come back in a month. Last year it was 6 months.   

 

Finally in the middle of last year I got Krungsri to accept my TIN ( Tax Identification Number) so they are no longer withholding tax.   Bangkok Bank and Kasiskorn were fine with an official looking piece of paper with my TIN but Krungrsri where the overwhelming bulk of my money is stashed insisted on a TIN card which I had misplaced and it was a major league hassle to get a replacement card.

 

For those of you that have nominal tax withheld it is probably not worth the hassle of filing a return.  But getting a TIN and bringing it to your bank should stop the withholding forever.

 

A buddy of mine who just arrived in Thailand got a TIN and it was fairly painless, just his passport and and some form from Immigration showing residency.   Chonburi Revenue Office in Jomtien is just a 5 minute walk from Immigration on Soi 5.

 

However, having the bank register your Tax ID number will only stop them from withholding tax on savings accounts, if you have a Fixed deposit account the bank is still required to withhold tax.

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6 minutes ago, Sophon said:

 

However, having the bank register your Tax ID number will only stop them from withholding tax on savings accounts, if you have a Fixed deposit account the bank is still required to withhold tax.

 

Good point!

 

Currently my Mee Tai Dai pays higher interest than any time deposit.   But I do have a question about time deposits.   In the past I have always passed on high interest time deposits because I was unclear about what happens at maturity.  At maturity what happens?  Is it rolled over to another time deposit?  Or can you specify that it be deposited in your savings account.  My cocern had to do with being out of country at maturity.

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22 hours ago, skatewash said:

You can apply I believe for up to the last three years.  There is a nominal administrative fee for filing late, something like 100 baht maybe.

Charged me 200 baht for late filing on 2nd year

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56 minutes ago, shortstop2 said:

 

Good point!

 

Currently my Mee Tai Dai pays higher interest than any time deposit.   But I do have a question about time deposits.   In the past I have always passed on high interest time deposits because I was unclear about what happens at maturity.  At maturity what happens?  Is it rolled over to another time deposit?  Or can you specify that it be deposited in your savings account.  My cocern had to do with being out of country at maturity.

58 minutes ago, shortstop2 said:

 

Good point!

 

Currently my Mee Tai Dai pays higher interest than any time deposit.   But I do have a question about time deposits.   In the past I have always passed on high interest time deposits because I was unclear about what happens at maturity.  At maturity what happens?  Is it rolled over to another time deposit?  Or can you specify that it be deposited in your savings account.  My cocern had to do with being out of country at maturity.

Rolls over to new fixed deposit same as old term but at regular interest rate not a promotional rate.  This is at Bangkok Bank.

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8 hours ago, shortstop2 said:

 

Good point!

 

Currently my Mee Tai Dai pays higher interest than any time deposit.   But I do have a question about time deposits.   In the past I have always passed on high interest time deposits because I was unclear about what happens at maturity.  At maturity what happens?  Is it rolled over to another time deposit?  Or can you specify that it be deposited in your savings account.  My cocern had to do with being out of country at maturity.

It will roll over, but you can take the money out at every time. You will then lose the interest, but I think still better than when the money would go back to the saving account with the small interest. At Kasikorn I think the roll over is then for a 3 month deposit..

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It is possible to get a letter from bangkok bank showing how much interests i got in 2020 for my savings and fixed account and how much tax i had to paid? Is it possible to get this letter by email because i am not in Thailand now?

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For Yanks, avoid all this hassle to get back your 15% withholding tax. Just claim it as a tax credit on your 1040 US tqx filing --simple one line entry (no Form 1116, if credit is for less than $600 -- and even that form is simple to manipulate). Easy to do with TurboTax, and probably with all tax software......

 

All above board -- income earned in Thailand is first taxable by Thailand (per the treaty). If, in this situation, the US also taxes this income (per their saving clause in the tax treaty), then to avoid double taxation (again, per treaty), you claim a credit against your US taxes. Bottom line for Yanks: If you're declaring this Thai interest on your US tax return,  as you should, then you are not being double taxed due to this credit -- and Thailand, not the US, gets to use your tax dollars to fill their pot holes, not those in Iowa. Pretty fair, for those of us Yanks living permanently in Thailand.

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21 hours ago, JimGant said:

For Yanks, avoid all this hassle to get back your 15% withholding tax. Just claim it as a tax credit on your 1040 US tqx filing --simple one line entry (no Form 1116, if credit is for less than $600 -- and even that form is simple to manipulate). Easy to do with TurboTax, and probably with all tax software......

 

All above board -- income earned in Thailand is first taxable by Thailand (per the treaty). If, in this situation, the US also taxes this income (per their saving clause in the tax treaty), then to avoid double taxation (again, per treaty), you claim a credit against your US taxes. Bottom line for Yanks: If you're declaring this Thai interest on your US tax return,  as you should, then you are not being double taxed due to this credit -- and Thailand, not the US, gets to use your tax dollars to fill their pot holes, not those in Iowa. Pretty fair, for those of us Yanks living permanently in Thailand.

Careful.  The Foreign Tax Credit is a non-refundable tax credit, meaning if you don't have a US income tax liability you'll be getting zero of your interest withheld in Thailand back.

Also, the limit below which you can claim the credit without filing Form 1116 is $300 (not $600) if you are filing single.  It's only $600 if you are married filing jointly.

If you have a US tax liability in excess of the withheld interest you are trying to get back and the amount of that withheld interest is less than $300 (if filing single), then it might be a good idea to claim the Foreign Tax Credit.  Otherwise, you are better off filing a Thai Income Tax Return and getting the refund that way.

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Yeah, if it's now possible to get your Thai tax refund online (per a post, above), and getting a Thai tax ID isn't too hard, then going this route sounds fine. Otherwise, for Yanks, taking the credit on your 1040 may be the simplest way to go. And if no Form 1116 required (filing single $300 tax credit, married, $600 tax credit), then you'll get the full 15% back, regardless of your effective US tax rate.

 

Using the Form 1116. however, will restrict your tax credit to your effective US tax rate on that Thai interest. However, filing the Form 1116 will also allow the tax credit to be carried forward, up to the amount the Thai taxes exceed your US taxation. Thus, actually, it now becomes a "refundable" tax credit.

 

Too much information. Just be aware there may be an easier way to get your taxes back than fighting Thai bureaucracy.

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On 5/12/2021 at 2:37 PM, JimGant said:

All above board -- income earned in Thailand is first taxable by Thailand (per the treaty).

 

10 hours ago, skatewash said:

Also, the limit below which you can claim the credit without filing Form 1116 is $300 (not $600) if you are filing single.  It's only $600 if you are married filing jointly.

 

I doubt that anyone gets audited when taking relatively small credits but choosing to pay Thai taxes when not required and then claiming the foreign tax credit appears contrary to IRS guidance.

 

H&R Block's interpretation:

 

Quote

The IRS sets limitations on who qualifies for the FTC. You’re eligible if you are an individual, estate, or trust, and you paid or accrued certain foreign taxes to a foreign country or U.S. possession. There are a few stipulations—the IRS generally uses four tests to determine if you qualify:

The tax must have been imposed on you.
You must have paid or accrued the tax.
The tax must be a legal and actual foreign tax liability.
The tax must be an income tax (or a tax in lieu of an income tax).
You can’t choose to pay foreign taxes and then claim the FTC—you must have been legally obligated to pay.

 

https://www.hrblock.com/expat-tax-preparation/resource-center/forms/form-1116/

 

IRS Guidance:

Quote

The Tax Must Be the Legal and Actual Foreign Tax Liability
Your qualified foreign tax is only the legal and actual foreign tax liability that you paid or accrued during the year. The amount of foreign tax that qualifies is not necessarily the amount of tax withheld by the foreign country. The amount of the foreign tax that qualifies for the credit must be reduced by any refunds of foreign tax made by the government of the foreign country or the U.S. possession.

Example 1:  You received a $1,000 payment of interest from a Country A investment.  
Country A’s withholding tax rate on interest income is 30% ($300), but you are eligible for a reduced treaty withholding rate of 15% ($150) if you provide a reduced withholding statement/certificate to the withholding agent. Your qualified foreign tax is limited to $150 based on your eligibility for the reduced treaty rate, even if $300 is actually withheld because you failed to provide the required withholding statement/certificate.

 

https://www.irs.gov/individuals/international-taxpayers/foreign-taxes-that-qualify-for-the-foreign-tax-credit

 

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13 minutes ago, shortstop2 said:

 

 

I doubt that anyone gets audited when taking relatively small credits but choosing to pay Thai taxes when not required and then claiming the foreign tax credit appears contrary to IRS guidance.

 

H&R Block's interpretation:

 

 

IRS Guidance:

 

Thanks for that.  I tend to agree with you both on the substance of the matter and on the unlikelihood of it being enforced.   However, the determinative factor to me is that it's non-refundable since I aspire to pay zero in federal income taxes each and every year. 😉

And finally I can't help mentioning how interesting it is to me that at least in this matter it's much easier to understand Thailand's tax code in translation than it is to understand the US code in English. 😉

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7 minutes ago, skatewash said:

I aspire to pay zero in federal income taxes each and every year. 😉

 

That's my goal too.   I try to keep myself at the top of the 0% tax bracket.   My income is mostly Roth conversions.

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2 minutes ago, shortstop2 said:

 

That's my goal too.   I try to keep myself at the top of the 0% tax bracket.   My income is mostly Roth conversions.


Haha, me too!  This year I miscalculated the amount of tax-free space I had to accomplish my traditional to Roth IRA conversions and ended up owing a little over $10 for the first time in many years.  I actually won't be able to convert everything before RMD kicks in, but I enjoy the challenge.

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6 minutes ago, skatewash said:


Haha, me too!  This year I miscalculated the amount of tax-free space I had to accomplish my traditional to Roth IRA conversions and ended up owing a little over $10 for the first time in many years.  I actually won't be able to convert everything before RMD kicks in, but I enjoy the challenge.

 

This year I had it set up to get a $1 refund.  Had a buck withheld so I could get a refund and have my bank details on record.  But somehow it turned out the IRS grabbed  6 bucks rather than refunding 1 probably due to something  I did not list on my return but got 1099ed for.

 

I don't care about the 6 bucks but I have a real concern that my true AGI is unknown to me.  When filling out taxes online I generally have to input my prior year's AGI  to prove it's me.

 

Have no idea how to find out my true AGI as opposed to what's on the copy of my tax form. If anyone knows, please clue me in.

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