Do US citizens who are resident in Thailand on a retirement visa need to file taxes? i.e. no income in Thailand but receive regular bank transfers into Thailand. My income is all from selling shares or collecting dividends from my US brokerage account. I pay US tax on capital gains and dividend income as a matter of course. I remit about Thai Baht 200,000 per month to Thailand as funding for my family of four.

This is classed as foreign sourced income and the capital gains needs to be filed in Thailand. Thailand tax residents must pay taxes on their foreign-sourced income remitted to Thailand. This means if you’re considered a tax resident in Thailand—defined as someone who spends 180 days or more in the country in a calendar year—you must include your income remitted from abroad in your annual tax return and pay Thai taxes on it. However, to avoid double taxation (paying taxes on the same income in both Thailand and the country where the income was earned), Thailand has double tax treaties with 61 countries that allow for tax credits or exemptions. It’s important to consult a tax professional to understand how these treaties may apply to your situation and to ensure compliance with Thai tax laws while maximising available benefits.nn