Tax (Withholding TAX) on interest on savings deposits at a Thai bank (reader's submission)
Since I am only 52 and do not yet receive a pension, I live off my savings in Thailand. Now I noticed that 15% tax was withheld from the interest I received and I started looking further.
Are my savings at the Kasikorn bank safe?
I have some savings in the Kasikorn bank in Chonburi. Now I hear from my girlfriend that there are problems there and the savings would not be safe there.
For years I have been using (Transfer)Wise for transactions to our account in Thailand; with great satisfaction. Now - after the umpteenth malfunction at that orange lion, last Friday - I was quite fed up and transferred the savings, approx. € 20.000, - to my Wise Euro account. Just on the current account you will receive more interest there (at Wise) than with the Orange savings account of this club!, where a paltry 1% interest will be paid from 0.90 June.
Thailand question: Tax-free savings?
I, Dutch and my Thai wife with a Dutch citizen service number, both living in Thailand, have a question.
Is our tax-free amount €57.000 or €114.000?
Reader question: Interest on savings at Thai banks
In the Netherlands you (almost) no longer receive interest on your savings. How about in Thailand? Does it make sense to transfer my savings to a Thai bank?
Reader question: How to deal with savings in Thai bank account?
Today I saw that the largest Thai banks still give some interest on savings. For example, 1 year fixed between 1 and 1,5% even. We have not achieved that in the Netherlands for a long time.
Reader question: Income/savings according to Thai law
I am a “poor” Dutchman, never had a high income, saved some money and took the plunge to move to Thailand 3 years before my state pension, so without income. Just because I don't want to wait and now want to live in Thailand with my Thai wife. I am not a tax expert either, but before I left I did some research, also called the tax authorities and received instructions. But now that the time has come, the surprises come naturally, It seemed so simple…
Certain Thai banks offer interesting interest on special Saving Accounts, provided certain conditions (work permit, thabian job, etc.) are met. For example, Government Housing Bank offers 1,6% and LH Bank 1,5% on an annual basis. However, if the annual interest yields more than 20.000 baht, tax must be paid. In that case it is therefore best to open a second “Saving Account” with a second bank.
A balance on a savings account with a Dutch bank up to € 100.000 is guaranteed by the state, as far as I know. Do these kind of guarantee rules apply from the Thai state to the Thai banks? If not, would it be wise to put your money in two or three banks?
Reader question: Savings in Thailand regarding tax filing
I have had a (savings) account in Thailand for six months. I mainly use this account to pay less bank costs than with ATM withdrawals. Now I have a question about the upcoming income tax return (wealth tax).
Taxes Thailand Q&A: Transfer money to Thailand, taxed or untaxed?
If you have saved money over time in a bank account in NL from, for example, pension and returns on savings and investments and then transfer money to TH from that account, how do you know what money you are transferring? Or does the “first in first out” arrangement apply here, which means that you always transfer the oldest money?
The Dutch are the best holiday savers
A dream holiday to Thailand? Most Dutch people first save for such a trip, making them one of the most active holiday savers in the world. No fewer than 87 percent of the Dutch save their entire holiday in advance; that is more than in many other countries. This is according to a worldwide survey.
Given the situation in Thailand, I intend to convert our savings into gold. I think that would be a great idea for her in the future.