Digest of Double Taxation Treaties April 2018

CO-CO

CO-CO

Rather wrinkly & occasionally cantankerous member
Found this UK government tax treaties digest on ASEAN NOW.

Scroll to page 34 for Thailand.


THAILAND DT-Individual Full relief 25% 5% Full relief No relief No Yes 1. Relief may be restricted if whole amount of income is Note 1 DT-Company (ST) (ST) (ST) (N & R) Note 4 (N & R) not remitted to Thailand.SI 1981 (PAIF dist int) Note 2 Note 3 2. 10% or full relief in certain circumstances.No1546 UK-REIT 3. 15% (ST) for patent, certain film, radio and TVDT-Individual royalties.UK-REIT 11 12 13 19 4. Treaty does not include an article dealing with DT-Company Non-Government pensions. Also, no relief for State Pension or ‘trivial commutation lump sum’.



 
Some of us with Kasikorn Bank received this email yesterday:-

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
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


The email had 3 forms for completion....
 
It says that is for individuals residing outside of Thailand.
CO-CO said:
Some of us with Kasikorn Bank received this email yesterday:-

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
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


The email had 3 forms for completion....
Click to expand...
It states that this is for individuals who reside outside of Thailand.
 
CO-CO said:
I believe it means non-Thai citizens.

Remember, you are an "alien" Les.


@Prakhonchai Nick thinks differently:-

aseannow.com

K bank E-mail with Tax Forms attached ?

aseannow.com aseannow.com
Click to expand...
Indeed I do. I AM an Alien, but I do not reside outside Thailand.........If the mighty Kasikorn bank cannot make correct statements, then something is wrong. The wording is very very clear.....The CRS aims to combat tax evasion by individuals residing outside Thailand.

I have emailed them back and told them that this email does not apply to me!
 
Is there any legal requirement for a Thai bank account holder to have an email address, or advise the bank should they change it? Is there any compulsion that email account holders should regularly check emails?. I THINK NOT. As such Kasikorn, the tax boys and others must find alternative ways of making contact.
 
Prakhonchai Nick said:
Is there any legal requirement for a Thai bank account holder to have an email address, or advise the bank should they change it? Is there any compulsion that email account holders should regularly check emails?. I THINK NOT. As such Kasikorn, the tax boys and others must find alternative ways of making contact.
Click to expand...

A bank can set whatever terms it wishes..............like advising them if your passport number changes.
 

sikishrory​

  • sikishrory
    Gold Member
  • Advanced Member
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Posted 14 minutes ago
Actually I just got through to them on the phone by entering the extension that was listed in the email. It bypasses the regular system.
She spoke good English and was very helpful.

The form / email is real.
Non- US citizens can ignore the 2 IRS ones and just fill in the Thai one.
It can be done via email as requested or done in branch for people with security concerns or who would prefer that.
I asked what if it is not done. She said then if you want to do transactions or update your account in branch you may not be able to proceed to "the next step". I said you mean "if it is not done you cannot do transactions and use your account"? She said no it is only when you try to do things in branch. Take that as you will.
I said I believe you have this info already should I still do it. She recommended yes.
For the passport she said you need to scan it on white paper and sign it then send it.

She also said it is something about this being a new requirement of a system that Kbank has signed up to last year or something.
She also mentioned something about older accounts. As if to say some accounts are older and at that time the information wasn't needed but now it is. Perhaps by old she meant older than the new system they signed up to a year ago.

That's about all I know and asked.
 
Prakhonchai Nick said:
Is there any legal requirement for a Thai bank account holder to have an email address, or advise the bank should they change it? Is there any compulsion that email account holders should regularly check emails?. I THINK NOT. As such Kasikorn, the tax boys and others must find alternative ways of making contact.
Click to expand...


You have provided your email address to K Bank.

I imagine that an email address is a requirement for online banking - maybe also a data requirement.


The form they require can be handed in or posted for anyone IT averse.

Given your experience of handing papers to K Bank (Nang Rong branch) I think I would prefer having an audit trail via email.
 
Deerculler said:
It says that is for individuals residing outside of Thailand.

It states that this is for individuals who reside outside of Thailand.
Click to expand...


If you read the CRS self-certification form they refer to "tax residents"
 
I have a feeling that this is a scam.
And I would not be sending any emails. passport etc details to anyone by email like is in this supposedly Kasikorn bank letter.

I have just been watching a blogg on Youtube where someone is saying that the New Zealand Prime Minister is going to give a one off payment of $2500 to all Senior Citizens who are on the pension at the end of November 2024.
The same person has also posted another video telling how to apply.
Which means all your personal details. Bank etc.
Another scam.
 
Deerculler said:
I have a feeling that this is a scam.
And I would not be sending any emails. passport etc details to anyone by email like is in this supposedly Kasikorn bank letter.

I have just been watching a blogg on Youtube where someone is saying that the New Zealand Prime Minister is going to give a one off payment of $2500 to all Senior Citizens who are on the pension at the end of November 2024.
The same person has also posted another video telling how to apply.
Which means all your personal details. Bank etc.
Another scam.
Click to expand...


It isn't.

have a look at ASEAN NOW - notably, the above post from "sikishrory"
 
CO-CO said:

sikishrory​

  • sikishrory
    Gold Member
  • Advanced Member
  • Popular Post
Posted 14 minutes ago
Actually I just got through to them on the phone by entering the extension that was listed in the email. It bypasses the regular system.
She spoke good English and was very helpful.

The form / email is real.
Non- US citizens can ignore the 2 IRS ones and just fill in the Thai one.
Click to expand...

"Non- US citizens"... meaning 'any person who isn't a US citizen' , correct or is this just adding confusion ?
 
Deerculler said:
I have a feeling that this is a scam.
And I would not be sending any emails. passport etc details to anyone by email like is in this supposedly Kasikorn bank letter.

I have just been watching a blogg on Youtube where someone is saying that the New Zealand Prime Minister is going to give a one off payment of $2500 to all Senior Citizens who are on the pension at the end of November 2024.
The same person has also posted another video telling how to apply.
Which means all your personal details. Bank etc.
Another scam.
Click to expand...

It is perfectly fine to keep your guard up.

It would be best to visit ones local K-Bank for clarification if one is a customer.
 
Coffee said:
It would be best to visit ones local K-Bank for clarification if one is a customer.
Click to expand...


They will love that.........................Farang lemmings all swooping on their local branch.....................the staff probably don''t know the forms have been sent out.
 
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