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Home » Reader question » Reader question: Is there information exchange between Thai banks and the Dutch tax authorities?
Reader question: Is there information exchange between Thai banks and the Dutch tax authorities?
Dear readers,
I have a question: Does the Thai banking system also exchange information with the Dutch tax authorities?
Thank you for your response.
Yours faithfully,
Harrie
At least not as done by countries within the EU. I think possible in situations where bank details are important for the settlement of a crime.
As far as I know, this only happens if the Netherlands asks for it, but then you usually do something wrong yourself
Or until someone hacks into a Thai bank and makes/sells a DVD, as happened with the Swiss bank(s), several EU countries have eagerly responded to this….
The Dutch tax authorities do cooperate with Thailand.
So never send too much to your own number.
Moderator: please don't chat.
Moderator: please respond to the reader's question and do not chat.
The Thai banks do not automatically cooperate with the Dutch tax authorities. Without a Dutch application, no Thai bank will send information to the Netherlands. They have no reason at all to do this.
Except maybe if you open a Thai account as an expat and immediately make a first deposit of 10 million?. That would also be noticed in the Netherlands?.
For example, if you transfer 10 million Bht to Thailand from the Netherlands, you will stand out because that amount is above € 20.000. Then, as a Dutch resident, you may answer a few questions? I think you will also get questions in Thailand?
There is no automatic exchange of data between banks in Thailand and Dutch banks. This automatic exchange of this data does not exist in Europe either.
The German government certainly does not like this at all, because it thinks it knows that approximately 300 Millard Euros of German citizens are held in various banks (account numbers) in Europe, among others. located in Switzerland. For example, even the German tax authorities cannot request account data from, for example, banks in the Netherlands-Belgium, etc.
If fraud is suspected (crime, etc.), things may turn out differently. Please note ; . . if suspicious! For this reason, transferring large amounts from Europe to Thailand (and back) is unwise, because core data will then be recorded in various digital systems internationally.
The question concerns exchange between Thai banks and the Dutch tax authorities, and not between banks themselves. Such an exchange does not take place systematically, but information may of course be requested in the context of, for example, a fraud investigation.
It seems completely clear to me that banks in the Netherlands and banks elsewhere in the world, such as Thailand, are not at all interested in the amount of transactions. If we talk about the exchange of data here, it certainly concerns the tax authorities who have questions. And isn't that also the question?
The banks do not have any questions, because all data is already known there. Otherwise you would not have been able to complete a transaction. Seems clear to me
The Netherlands has a treaty with Thailand, so they can request all information from both sides.
For requesting bank details, this must be for a special reason.
Just an example, I emigrated to Thailand in 2007, had not given the correct address to the municipality where I lived in Thailand. Nevertheless, my M form from the tax authorities arrived at the right address. So the tax authorities have contact with the immigration service about correct information, after all, your address is known there.
The tax authorities can also access the business department if you have a company, my girlfriend can even do that because she has a login code and can see the shareholders and/or whether tax has been paid and whether there are no arrears. This allows the tax authorities to check for possession.
The Tax and Customs Administration keeps a close eye on money flows to Asia.
If it turns out that you have money in Thailand, e.g. brought in cash, and the Thai authorities want to see confirmation that the money is yours, you must make this plausible, you cannot accept that the money will be taken and contact will be made with the relevant government with where you come from, country of birth, or country where you were last registered.
Advice, just keep it honest so you don't have any problems. If you are caught, you can expect a nice stamp in your passport and no longer welcome in Thailand for the first 5 years.
Roel,
Good advice.
I see in the other responses that tax evasion is apparently seen as normal.
Still makes me think.
Quote; @Roel “If it turns out that you have money in Thailand, for example in cash, and the Thai authorities want to confirm that the money is yours, you must make this plausible. If you cannot, the money will be confiscated and contact will be made with relevant government with where you come from, country of birth, or country where you were last registered”
I have never had any problems with that, cash is simply accepted and exchanged and the reason is printed on your receipt; “travel expenses” at Kasikorn Bank! (I also always keep my Belgian bank statements and ATM slips with me, but I have never been asked for them.
The import-free part, $ 20.000 or about 14.000 euros, is not difficult for them.
Will not ask anyone else, but as soon as it is more and you do not report it and you are caught then you have a problem, firstly a fine for not reporting secondly you will have to prove where the money comes from, thirdly see come home alive with as much money as they know it.
Otherwise, a Belgian was just put on transport in November with a stamp in his passport. There is another Belgian who is now being investigated by the Belgian judiciary at the request of the Belgian who is now there. The Belgian who is still in Thailand expects the same, has already sold his car and motorbike. He also smuggled 60.000 euros into the country. The Belgian who is still there can last longer because he cooperates with the tourist police, but betrays other compatriots. As a result, the other Belgian is already in Belgium.
Always very wise to have proof of admission with you, nothing can happen and you can immediately prove everything.
also because if you would like to use the money to purchase a condo, you must be able to prove that it was brought in from abroad, otherwise you can expect a full tax on the total amount when it is re-exported after the sale, if you succeed at all. to succeed in purchasing it ("kor tor", or whatever that thing is called that the bank has to deliver for the purchase.)
Arriving alive will mainly depend on you ...... I never take a taxi ..... rather sit with a lot of people on the Aircobus to Pattaya for 134 bht , much safer than in a car with a driver .. who can drive and stop where he wants ... ..!
You must be Belgian... 🙂
@ Roel, you are giving me wrong information, that makes a horse hiccup. If you are traveling from the EU the maximum amount is 10.000€!!! Then you come with proof of admission, also nonsense!!! You only need valid proof and that is if you leave the EU to go directly to customs in the EU country and they will give you an official document (if everything is in order of course) with which you can travel safely to the country in question. Without this proof and more than 10.000 you're out of luck! So € 14.000 is not correct and one proof of withdrawal from a bank is certainly not!
Dear Noah, Read carefully, I was talking about 20.000 dollars, that is the free import limit in Thailand, equivalent to approximately 14.000 euros. Anything above that must also be declared to customs in Thailand.
Of course if you bring more than 10.000 euros from the Netherlands, for example, without a declaration, you can already be the cigar at Schiphol. If you want to take more with you, you must already prove this at Schiphol to customs where that money comes from, good rule by the way.
If you transfer more than 25.000 euros from a Dutch bank, you can expect a questionnaire from the DNB, especially the first time. By the way, you don't have to answer, it's a questionnaire, not an assignment, but send it back with whether or not stated.
To lift a corner of the veil, between 4 and 5 billion euros are transferred annually per bank transaction to Thailand/Cambodia. They can see exactly which men pay for the same woman, hahahaha.
Dear Roel, I read very well. Now you also explain it in your 2nd block and your story is complete, including customs formalities, for which I thank you!
The Dutch tax authorities would like it if banks outside the Netherlands would send all kinds of information?. Who knows, there may be a tip in between. As long as the Dutch tax authorities have no point in assuming that the Dutch have parked black money in Thailand, nothing will happen at all, not even in cases of fraud. The tax authorities only do that when there is a 100% suspect - isn't it logical?
It is impossible for the Dutch tax authorities to survey all banks in all countries in the world. The tax office has millions of customers. They don't even have the capacity to start thousands upon thousands of requests. Take advantage of it, or better. . do not do stupid things !!
Again a lot is written here, without motivated background. Of course, the Netherlands has a lot of treaties with Thailand. But does the Netherlands also have a treaty that says that ALL financial transactions from the Netherlands to Thailand must be reported to the Dutch tax authorities?. Of course not. If so, please provide more information here in which treaty it is described
The situation is completely different for the Thai government. But that was already said above. The Netherlands (Europe) has attached rules to transactions to a country outside the Netherlands. The Thai government has rules for money entering the country. There are possible bottlenecks where you can stand out negatively.
Tip do not put your savings in a Thai bank but in a large bank in Singapore or Hong Kong and only keep what you need to withdraw from a Thai account.
Rick, given the reader's question, what is your motive for the tip not to put your savings in a Thai bank but a large bank in Singapore or Hong Kong? Do Singapore and Hong Kong not exchange data with the Dutch tax authorities, while Thailand do? As far as I know, there is no treaty between the Netherlands and Thailand for the regular or otherwise exchange of bank details, except for exceptional situations, e.g. suspected money laundering, drug-related cases, crimes, etc., but that concerns an investigation by the judiciary of both countries, possibly via Interpol. If anyone knows of a treaty that contains something other than the aforementioned, please provide a link to that treaty.
Sincerely,
You are right Rick, because if what happens here in Thailand with the banks, what happened in Europe 5 years ago, then you will simply lose EVERYTHING here. The people responsible have suddenly disappeared (including the money that was still present) and are no longer traceable and are never arrested again, just look at the Taksin family. Too bad but true, because no bank will give you a VALUABLE guarantee, just in case something like this happens. It is safer in Singapore and Hong Kong.
Gr. Johnny
@Willem van Doorn
I only have a Non O multiple entry 1 year visa, and have had a Kasikorn account (the easiest bank) since 2007, but it depends from bank to bank and sometimes from branch to branch....
By the way, for a pure retirement visa you have to meet the financial limits, and as proof of this a letter from Thai bank + passbook & and if not the full 800000/ 400000 (married to Thai) a certificate from your embassy of Retirement or other income up to complete the total sum required
Unless your income is 65000/40000 (if married to T haise). If you have an Embassy letter, it is a mystery to me how you can obtain so-called retirement visa/extension affected?
At my request I receive my income statements from NL and I take them to the Dutch Embassy every year. They then declare (in English) what my income is, and I take it to the “immigration office”. So there is no Thai bank involved. I withdraw my money from the ATM. Which sometimes doesn't. That will cost me the amount I tried to withdraw. And then that is lost.
We are slowly chasing after the (coming) facts:
http://www.demorgen.be/dm/nl/996/Economie/article/detail/1809823/2014/03/12/Europese-Unie-staat-op-het-punt-bankgeheim-op-te-heffen.dhtml
The treaty between Thailand and the Netherlands is not aimed at the free statement of bank balances. It is true that both the Dutch and Thai authorities will cooperate if there are sound reasons for providing information in a general manner.
If there are serious concerns and the Thai authorities do not trust the matter and can withdraw your visa, you will have to buy a ticket to your country of origin.
I would like to note that money does close eyes in Thailand. but good then you are forever the atm for…………. yes, I won't name it, but that's how the system works, it's absurd, by the way.
Incidentally, I think the question by the questioner is already dangerous, normally you don't ask such a thing if you have nothing or at least do everything in a normal way. The Tax and Customs Administration also reads along on these types of forums and they are right. Perhaps they are just too busy with all the fraud in the benefits world.
For a quiet life without always having to look back, take care of things in your home country as it should be, you don't have to ask any questions.
Without a treaty between Thailand and the Netherlands, there are laws that have been established by the EU and Thailand. Those blogger(s) who claim otherwise here are nonsense and misinformation. For cross-border traffic, you may only have up to € 10.000 with you. If you have more with you, you must fill in a duane form without being asked. There you write down the TOTAL amount you have in your pocket - so also small change and hand it over to customs. That was it. If you are -clean- you will never hear anything about it again.
At the airport Bangkok it is clearly stated on a shield behind the passport control that you may only import a maximum of 20.000 US Dollars. The daily exchange rate value is converted to your currency. And with that everything is said.
The Thailand Blog question can be answered, that the Thai banks do not exchange any information with the tax authorities in Europe. I'm not even sure if they do that on an application from Europe?. What is certain is that he/she who has nothing to fear from a technical tax point of view in Europe, does not have that in Thailand either.
As a counter question, I wonder why someone insists on knowing how Thai banks deal with the Dutch tax authorities. Is someone in Thailand looking for a second Switzerland?
I have been living here for 9 years now, an average of 6 to 7 months a year. abroad, sometimes shorter and most often in Thailand, because I have been happily married to a Thai woman for 8 years. With hard work in my life, I have earned and managed my money well and therefore don't have to play any tricks. I just book money from the Netherlands once in a while... so much time, transfer money from my Dutch bank, stating what it is for. is [for the construction or renovation of my house or to supplement my private or other matters], there is nothing wrong with that and everyone from the tax authorities to the bank can check that. The big advantage is also that if I later want to go back to Holland and sell my house, I can freely transfer the same money from that house back to the Netherlands. In addition, I am too old to look back all day. to have to look or be confused about this kind of problem. If you only come to Thailand for this kind of thing, then go to Sudan, you will be safe there, because there is no control [and no life] Gr.. Jantje.
I asked the question because I am considering opening a Thai bank account. As a regular thailand visitor (and married to thai beauty) that seems easy to me. it is absolutely not the intention to bring black or criminal money there. But more to find out the consequences of such a bill…
I myself have been away from NL for over 25 years and I wonder in the past it was forbidden to open a bank account outside the Netherlands without permission from the Nedelands Bank. Is that still official or has that ban been lifted?
On the contrary. As a Dutch citizen you can open a bank account anywhere in the EU without permission from anyone from the Netherlands. Outside the EU, it depends on the laws of the country where you intend to do so.
As you ask the question and immediately bring in the taxman, the thought automatically comes to an unauthorized act. You don't ask what consequences an account in the Netherlands has for the tax authorities, do you?. As long as you can account for all transactions, there is no problem. Not in the Netherlands and not in Thailand.
If you are married in Thailand, it is a good idea to open an account there. That goes like a piece of cake - no problem. Bring your passport and proof (blue house booklet = your wife or yellow booklet = are you) where you live in Thailand. That's it all.
Thanks everyone for the comments. Be fully informed.