Foreign-Sourced Income

Use separate accounts for different periods. Mixed accounts are harder to explain and may require first in first out analysis.

Keeping older savings in a clean account makes it easier to prove that transfers relate to pre-2024 income. This reduces the risk of accidental tax.

Pre-2024 funds can be remitted tax-free, but you must prove they were earned before 2024. The Revenue Department uses a ‘first-in, first-out’ method. For example, if you had €90,000 in your account at the end of 2023 and later withdrew €50,000, you can demonstrate this withdrawal came from pre-2024 savings. Bank statements are essential for proof.

No, proceeds from selling an asset in a non-Thai tax year are not taxable in Thailand, provided the sale occurred while you were not a Thai tax resident.