Do the investment returns need to be filed for taxation

The returns received from investing with PeerPower for individual taxpayers do not need to be included in their income calculations, as the interest earned by investors has already been withheld and the tax has been remitted by the bond issuer (P.N.D. 2). Investors can download the withholding tax documents from the PeerPower system. Instructions for downloading the documents are provided (Click).

For those who wish to file, the returns received from investing in PeerPower's crowdfunding will fall under the category of income according to Section 40(4)(a) of the Revenue Code, which includes bond interest, crowdfunding bond interest, promissory note interest, etc.

Steps to declare crowdfunding interest in online tax filing:

1. Under the "Investment Income" category.
2. Select "Specify Information" under the section "Interest, dividends from foreign companies, any benefits from cryptocurrency or digital tokens, additional capital, capital reduction (Section 40(4))".
3. For the type of business, choose "Interest (only those not opting to pay tax at the rate of 15.0%) / equivalent dividends from THAI NVDR".
4. Fill in all the required information.
   
   

It is up to the investor's discretion whether to file or not file the tax return from the investment returns. If the withholding tax on the principal return is higher than the individual income tax rate, filing this return may entitle you to a tax credit. Conversely, you may need to pay additional tax if you file in cases where the withholding tax on the returns is lower than the individual income tax rate.