I am hearing that any funds I transfer from Canada to my Thai bank accounts is now subject to Taxation in Thailand. I can understand that interest I earn in Canada is taxable, but what about when I move underlying cash that has been in my account in Canada for many years, which has been taxed by Canada in years past?

If money has been in a bank account since before 1 January 2024 it can be remitted to Thailand at any time in the future without being liable to tax. 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.