Thailand [Tax Update]

[wellington]

Seen discussions on here previously : Agency drafts law on tax transparency

 

[JackAlabama]

"This" is CRS as we know it.
Only has implications if you are non resident of Thailand and then it matters only if your residence country cares about you having accounts in Thailand.

 

[backpacker]

How

Seen discussions on here previously : Agency drafts law on tax transparency

How does the financial institution know if a customer is a non-tax resident of Thailand?
Did Thai banks already start to collect appropriate KYC?

 

[NicolasMaduro]

How

How does the financial institution know if a customer is a non-tax resident of Thailand?
Did Thai banks already start to collect appropriate KYC?

Per default banks will report you to CRS if for example your phone number is from a different country.

They can also use indications like if you only use your bank account in your passport country or login with an IP from your passport country

The phone number thing is a default thing, so for sure u dont wanna give the bank a non local number

 

[backpacker]

Per default banks will report you to CRS if for example your phone number is from a different country.

They can also use indications like if you only use your bank account in your passport country or login with an IP from your passport country

The phone number thing is a default thing, so for sure u dont wanna give the bank a non local number

Assuming an Australian who was a former resident of Thailand. He moved to Vietnam and kept his Thai bank account. However, this Australian has no more contact point/phone number/address in Thailand. He gives his Thai bank a complete data set of his Vietnamese residence (address, phone, documents ...). He is now a non-resident for tax purposess in Thailand. Vietnam is non-CRS. He uses his Thai bank account for purchases through his debit card mostly within Thailand and Vietnam.
What will the Thai bank do?

I understand that the above is a non-reportable account. However, this being Thailand I am wondering if the bank would send the clients' account data to The Revenue Department just because he/she is non-tax resident?