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If I bring money into Thailand from income earned before 1 January 2024, is taxable on that money?
The notable amendment in Order No. P.162/2023 is the clarification added to the first item of Order No. P.161/2023, which stipulates that the new taxation rule does not affect income earned before 2024. This specific exemption provides a transitional period for taxpayers, allowing them to adapt to the new system without the worry of retrospective taxation. Money that is in the bank from 2023 or before can be transferred in the future without any tax liability.
Category: General Tax Queries
