Table of content

Giving by request means

What are the things given by request

If someone gives money, do they have to pay taxes

Can giving by request be reclaimed

Does transferring money from a foreign lover incur taxes

Giving by request means

The act of transferring ownership of property from the giver to the recipient, where both parties willingly and wholeheartedly agree to transfer and accept the

property, and the recipient is not obligated to provide any form of compensation. And it’s not necessary that it has to be a gift between romantic partners, as

the act of giving described above falls under the category of giving by request altogether. Complete giving occurs when ownership is transferred to the

recipient, allowing them full authority to manage the property, regardless of the method of transfer.

What are the things given by request

It’s giving without expecting anything in return. The giver and the recipient don’t necessarily have to have a family or familial relationship; for example,

giving by request.

• “Transferring property to adopted child.”
• “Transferring property to a life partner.”
• “Transferring property to a friend.

If someone gives money, do they have to pay taxes

Giving by request may incur tax depending on the value of the transferred property.

The individual responsible for paying the gift tax is the recipient of the property given by request.

Gift tax is an income tax imposed on individuals who receive property by request. Types of property that may be subject to tax include money, real estate, vehicles, and intellectual property.

The gift tax is outlined in the Revenue Code, Section 77/7, which stipulates that individuals who receive property by request must pay income tax at a rate of 5% on the value of the property received exceeding 1 million baht.

Can giving by request be reclaimed

When we give money, items, or property to others and cannot reclaim them later, we often colloquially refer to it as ‘giving by request.’

However, giving by request can still be subject to legal action to reclaim the money, items, or property from the recipient if there is

evidence of misconduct, as stipulated in Article 531

Does transferring money from a foreign lover incur taxes

“Giving by request from a spouse is considered assessable income, except for income not exceeding twenty million baht per tax year. This exemption applies only to spouses legally registered according to the law, meaning spouses registered as husband and wife in compliance with the law.

“Giving by request from individuals other than spouses, with income not exceeding ten million baht per tax year, will be exempt from tax calculation for personal income tax for ordinary individuals.

Article by Kawee sukthanorm