Bangkok report July 2018

[Blueskytoday]

This is silly,,if he had all this cash just give the customs guy USDollars in the amount of 15,000 Baht.....stupid to me..

[a447]

This is silly,,if he had all this cash just give the customs guy USDollars in the amount of 15,000 Baht.....stupid to me..

His money was impounded so how is he to get access to it?

[Moses]

I immediately wondered why he couldn't just go to an ATM but I guess he doesn't have access to one inside Customs.

The money was to be used to buy a house.

There is SBC exchange in international zone before border at arrival level and few ATM on departure level (after border, i.e in international zone)

[Nirish guy]

Plus if he’d agreed to pay up do we really think that said customs officer wouldn’t have quietly walked him to the nearest ATM and back again without another word being said ?

[Moses]

Oh, by the way: there are no limits for inbound carry of cash in foreign currency to Thailand, after K$20 person should declare cash at the customs.

BRINGING CURRENCY IN OR OUT OF THAILAND
Any person who brings or takes an aggregate amount of foreign currency exceeding USD20,000 or its equivalent out of or into Thailand shall declare such amount of foreign currency to a Customs Officer.

Failure to declare upon bringing currency that exceeds the amount restricted by law or its equivalent out of or into Thailand or making any false declaration to a Customs Officer is a criminal offence.

For Thai currency (Baht), any person can bring total amount not exceed THB500,000 to any Thailand’s bounded countries and not exceed THB50,000 to any destination countries.

More than that mentioned amount, you have to declare to a Customs Officer or exchange to others currency before depart from Thailand.

Further information, you can contact The Customs Department at

Tel: +66-2-249-0431 or hot line no. 1164.

Website: www.customs.go.th

[Nirish guy]

Im guessing though that if the money was "dodgy" in the first place tax wise the last thing you would want to do would be to flag up you either bringing it into another Country for fear those authorities share that same information with YOUR local tax office ( as I'm lead to believe they mutually do these days)?

[Moses]

Im guessing though that if the money was "dodgy" in the first place tax wise the last thing you would want to do would be to flag up you either bringing it into another Country for fear those authorities share that same information with YOUR local tax office ( as I'm lead to believe they mutually do these days)?

Thailand isn't member of convention http://www.oecd.org/ctp/exchange-of-...ax-matters.htm

[Nirish guy]

Fair point - So I guess then the other reason is that you may not wish to highlight yourself to Thai authorities as someone who may have some money then just I guess - not the worst idea either maybe

[scottish-guy]

What is the official purpose of having to declare you're carrying more that $20K into Thailand?

Anybody know?

Plus, I was reminded just the other day that a farang cannot buy a house (I suspect it's actually the land you cannot buy?) so I guess it must have been some condo type arrangement the guy was hoping to finance in cash.

Or am I wrong (again)?

[Jellybean]

What is the official purpose of having to declare you're carrying more that $20K into Thailand?

Anybody know?

In my opinion, it is probably there to combat money laundering, scottish-guy.

The United Kingdom has a similar system where if you are entering or leaving the European Union and are carrying cash of the value of 10,000 Euros or more or the equivalent in other currencies, you are required to complete form C9011. See the link to HM Revenue & Customs website below:

https://www.gov.uk/government/public...laration-c9011

And, there is no doubt also a tax evasion element to it, certainly in the UK, where anyone found with large amounts cash is questioned by Border officers and reports sent to HMRC for checking.