When I transfer 30 to 40 million Thai Baht to Thailand and declare it as a loan repayment, is it tax free?

Loans are not taxable in Thailand, so if there is a loan agreement drawn up and it is a real loan that is being remitted, then it’s not a taxable asset. It is best to check with a tax advisor or accountant that the loan meets the criteria first before remitting to Thailand. It is very important that you keep the documents on file because there could be serious tax implications if not.