Expat Tax: Frequently Asked Questions

You will have to file a tax return, but with your allowances and deductions, its likely you won’t have a tax obligation. We can file this for you with our essential tax filing. Here is more information.

This isnt inheritance, it would be a gift. You can gift your children assets if you wish, up to THB20m per annum. You should draw up a gift document and have this notarised. I recommend you gift the funds overseas and they remit the funds into Thailand.

Read our Expat’s Guide to Thailand Inheritance Tax to learn more. 

Thailand is a remittance tax basis (so its taxable if its sent to Thailand). If the investments are transferred to Thailand then this is an assessable income source and taxable on the capital gains.

UK defined contribution pensions  are assessable income in Thailand if remitted. You can use any UK tax paid as a credit.

If you sell your ISA when you are a Thai tax resident, then anytime In the future that the funds are transferred to Thailand the capital gains are potentially taxable.

If the money earned online by a Thai tax resident was conducted while living in Thailand, it is fully taxable as foreign-sourced income regardless if it was remitted or not. It needs to be declared on the tax return.

Yes, rental property income in Thailand is a taxable asset and needs to be reported on the mid-year tax return.

UK rental property income is a assessable income source in Thailand. You can use tax paid as a credit against some or all of the potential tax owed.

You can learn more about tax assessable foreign-sources income here

Yes, these are taxable if remitted to Thailand. You are taxed on the capital gains.

For bonds, tax is calculated on the capital gains that are remitted to Thailand. This concerns the time you’ve held the structure and what the gains are on the overall structure. You cannot separate yourself, capital, interest and income. It is calculated on the amount of gains within the whole bond or investment structure.

UK defined benefit company pension are assessable income in Thailand if remitted. (You can use any tax paid as a credit.

Correct, if you are non-tax resident at the time of sale, then this can be remitted to Thailand without a tax implication

An Australian Veterans’ Affairs Disability Pension is typically classified as a government pension.  This type of pension is paid by the Department of Veterans’ Affairs (DVA)  It is distinct from superannuation or private retirement pensions as it serves as compensation for service-related injuries rather than retirement income.

In the context of Double Taxation Agreements (DTAs), a Veterans’ Affairs Disability Pension is typically regarded as a government pension. Our understanding is this is not taxable in Thailand under the Aus / Thai DTA.

You may find our webinar on the Thailand-Australia Double Tax Treaty useful; you can watch it here. 

Yes, this asset is a taxable income source when remitted into Thailand, It must be declared.

Learn more about tax assessable foreign-sources income here

If the money is still in a cash account and you can prove that that money was from your taxed Thai earnings, then this should be sufficient.

It depends on the source of the funds. If it is from taxable income when you were a Thai tax resident then this is classed as remittance

Foreign-sourced income is a taxable asset if remitted to Thailand for Thai tax residents.

Learn more about the Thailand Revenue Department’s announcements on foreign sourced income here

Any funds remitted into Thailand from investments are taxed on the capital gains within the structure, since the start of the structure. This needs to be filed on the tax return and evidence provided. There maybe tax credits available if tax has been paid in the other jurisdiction, depending on the DTA between that country and Thailand.

In Thailand, the tax implications of selling a house can vary based on several factors, including the duration of ownership and the type of property. Generally, sellers are subject to several potential taxes: Transfer Fee (2% of the registered value), Stamp Duty (0.5% unless exempt, in which case a Specific Business Tax of 3.3% applies), Withholding Tax (calculated at a flat rate of 15% of the assessed or actual selling price for corporations, or under a progressive income tax rate for individuals), and Capital Gains Tax, which is often considered under the Withholding Tax for individuals. The exact tax liability can depend on whether the seller is a company or an individual, the length of property ownership, and any applicable exemptions or deductions. It’s advisable for sellers to consult with a tax professional to understand their specific tax obligations and potential exemptions that may apply to their situation.

Share sales into UK bank account transferred to Thailand using Wise are assessable for tax on the capital gains. You can use any capital gains tax paid in the UK as a credit

Social Security is not an assessable income source in Thailand due to the US & Thai Double Taxation agreement. This means Thailand has no right to tax this.

401k is an assessable income in Thailand if remitted. If you do remit your 401k to Thailand, then this is assessable as income. You can offset any taxes with the taxes paid on this money in the US as a tax credit.

Learn more about Double Tax Agreements for expats in Thailand by watching our video here. 

This article just means that Thailand is a remittance tax basis.. which means you’re only taxed on assets transferred to Thailand. If they are earned outside and not remitted (transferred in) then they are potentially not taxable, depending on the type of income.

Yes, Thailand is a remittance tax basis, so you are liable for tax on the capital gains, if they are remitted / transferred into Thailand. If they are not transferred to Thailand, they are not a taxable income source.

Foreign equities, like capital gains on overseas investments, are taxed on the capital gains on the structure since you have held it, not since you have become a Thai tax resident.

Learn more about tax assessable foreign-sources income here

As you are exempted from the income tax in your home country, its likely all of the income is taxable as earned income in Thailand. If the work was conducted while residing in Thailand, it is likely that all of the income is taxable.

If you meet the criteria of a Thai tax resident (180 days or more in a calendar year) and you transfer (remit) the your superannuation pension to Thailand, then this is classed as assessable income. This means that if the amount of assessable income remitted to Thailand in a calendar year is over THB220,000 as a married joint filing with a non-working spouse, or THB120,000 for single filing then you will have to file a Thai tax return. You can use the Thai allowances and deductions available..

You may find our webinar on the Thailand-Australia Double Tax Treaty useful; you can watch it here. 

This depends if your UNICEF pension is tax exempt in Thailand. This is not in the revenue code and you will have to get written confirmation that this is tax exempt. We can help you obtain this / ask for this is you wish.

No you do not have to file a tax return for non-assessable income.

It is up to you to go through these funds and calculate what are the capital gains, dividends and interests on those assets. You need to keep clear records for each asset type. Remember it is up to the tax payer to prove what the source of remittance is from and how they are to be taxed.

Read our A Guide to Understanding Assessable Foreign-Sourced Income in Thailand to learn more. 

Stocks and shares, are taxed on the capital gains if they are remitted to Thailand. It is calculated since the date you have held the shares, not 31st December 2023.nn

If you living in Thailand for 180 days or more in a calendar year and you transfer (remit) in more than THB120,000 (or THB220,000 for married couples) per year of foreign-sourced income from outside Thailand, you’ll need to file a tax return for 2024.

This includes UK pensions. You can use any tax you have paid as credit against tax owed in Thailand, but it doesn’t mean you don’t have to file and you may have further tax to pay.

This is a general overseas investment account. You will be potentially taxed on funds that are remitted to Thailand. You are taxed on the capital gains. If you do not remit the funds to Thailand, they are not liable for tax in Thailand and do not need to be declared. If you do remit the funds to Thailand,and there have been capital gains, this needs to be declared on your tax return.

This is classed as assessable income if it is remitted to Thailand at anytime in the future.

Thai tax residents are liable for tax on foreign sourced income if remitted to Thailand. From January 1, 2024, new tax rules apply to income from outside Thailand. If you’re a Thai tax resident and you bring in more than 120,000 THB (or 220,000 THB for married couples) from foreign retirement income to Thailand, you will need to file a Thai tax return. You do get Thai allowances and deductions, and can potentially use tax paid on that retirement income as a tax credit against tax owed in Thailand, but this depends on the specific DTA between the jurisdication where your retirement pension is based and Thailand.

Learn more about tax filing requirements for expats in Thailand by listening to this short podcast. 

Both your state pension And private pensions are classed as assessable income If you transfer To Thailand. You will likely have To file a tax return. Our Assisted Tax Filing Service will help you to claim the tax credits for tax paid In the UK. This is called assisted tax filing. Click here to learn about foreign sourced assessable income.

Yes, UK pensions are subject to taxation in Thailand if you are a Thai Tax resident, which is defined as someone living in Thailand for 180 days or more in a calendar year. Thailand taxes residents on foreign sourced income remitted to Thailand. This includes UK pensions. If you transfer the UK pension to Thailand it is taxable. However, there is a double taxation agreement (DTA) between the UK and Thailand, which aims to prevent the same income from being taxed in both countries. This agreement may allow for some relief or exemptions, depending on the nature of the pension and other individual circumstances. It is advisable to consult with a tax professional to understand how the DTA applies to your specific situation and to ensure compliance with both UK and Thai tax laws. If it is a State pension or private pension, these are both taxable in Thailand. You can use any tax paid already as a credit against any tax owed in Thailand.

Learn more about Double Tax Agreements for expats in Thailand by watching our video here. 

It does not matter what the purpose of a transfer of funds is, but, rather, the source of the funds originally. For example, if it’s from a pension, income or investments it is taxable, it is from saving or income earned before becoming a tax resident it is not.

No, inheritance is not taxed as income tax and does not need to be reported on an income tax return.

Read our Expat’s Guide to Thailand Inheritance Tax to learn more. 

It does not matter what year the funds are remitted, but rather if you were a Thai tax resident when the income was earned. If you are a Thai tax resident in 2024 with UK income that is not remitted to Thailand, and you remit it in 2026, then it is potentially taxable in Thailand.

Thailand will not tax you. It depends on whether your residency status in the UK to whether they will tax you.

If it isnt remitted to Thailand, it doesn’t have to be declared as it is not an assessable income source as it is a remittance tax basis.

You can find out more about cryptocurrency tax in Thailand here 

Thailand doesn’t tax crypto at 15%. It deducts 15% witholding tax at source, it is not the same thing. You still need to file gains remitted to Thailand on your personal income tax return.

You can find out more about cryptocurrency tax in Thailand here 

There are many factors here such as if you are a Thai tax resident (180 days or more) and what type of structure you hold. If it is an investment account and you sell assets and transfer to Thailand, then you are liable for the percentage capital gains on the investment. You need to check the DTA to see how your asset is treated.You may find our webinar on the Thailand-Australia Double Tax Treaty useful; you can watch it here. 

You may find our webinar on the Thailand-Australia Double Tax Treaty useful; you can watch it here.

Yes, dividends are taxed in Thailand. The rate of taxation can vary depending on whether the recipient is a resident or non-resident individual or a corporation, as well as other factors such as the source of the dividend income. Generally, for individual shareholders, dividends received from Thai companies are subject to a withholding tax, which may be credited against their personal income tax liability. Dividends from overseas are taxable if remitted to Thailand.

This is dependent on the source of the income, whether it’s from assets like pension, income, investments, or capital gains. This is important so you can know if you have to file a tax return.

In Thailand, capital gains are subject to taxation, but the specifics depend on the nature of the gain and the taxpayer. Generally, capital gains earned by individuals from the sale of shares and property are subject to personal income tax, with rates varying from 0% to 35% based on the individual’s total annual income. However, for residents, capital gains from securities traded on the Stock Exchange of Thailand are exempt from tax. Capital gains from overseas investments are taxed if remitted into Thailand.

Superannuation is classed as pension income. I have a video explainer video for the Australian / Thai Double Taxation agreement. Here is the video https://youtu.be/y1chBfp8_XE

If you withdraw and remit (transfer to Thailand) AUD6,000 per month, then AUD72k (1.7m THB) is assessable income.

You can deduct off your allowances and deductions, then you will follow the Thai tax tables.

This is dependent on where and how the gold is held. It is potentially taxable if it’s overseas in an investment account and you have a gold ETF. If it makes a profit and you sell that asset and remit into Thailand, you will be taxed on capital gains. You cannot use losses to offset future gains or for other assets or asset classes. There maybe tax credits available if tax has been paid in the other jurisdiction, depending on the DTA between that country and Thailand.

Learn more about tax assessable foreign-sources income here

Fixed deposits are taxed on the capital gains that have been made and what percentage of the gains are remitted into Thailand. You will have to declare this on your tax return. There maybe tax credits available if tax has been paid in the other jurisdiction, depending on the DTA between that country and Thailand.

If you are a Thai tax resident, it is only remittance that becomes assessable. If funds are left overseas, they are not taxed in Thailand. However, if funds are remitted into Thailand, it is potentially taxable. There are no exemptions for pensions for pre-2024 values. You can find detailed guidance on what constitutes assessable income here. 

If you have investments and have not made a profit, so there is only capital and no gain, you can potentially remit that into Thailand without any tax implication or obligation. It is best to check this with a tax advisor before remitting the funds if you are unsure.

Learn more about assessable foreign-sources income here

This would potentially cause the assets capital gains to be assessable income. You will need to check the DTA to see how properties are treated for tax purposes.

The rules are clear if you are a Thai tax resident then you are liable for capital gains tax on the property, depending on the DTA.

Inheritance from someone living outside Thailand is not subject to Thai income tax. However, it’s important to keep detailed records of the transaction. I also recommend keeping this inheritance separate from any taxable assets in the bank account where it is deposited.

Unfortunately, you can’t select whether you send capital or income to Thailand from an investment.

Under domestic Thai personal income tax rules for Thai tax residents (180 days or more in Thailand) you are liable to pay income tax on any pensions remitted to Thailand. You can use any tax already paid as a credit, but as you mentioned this doesn’t help with Superanuation pensions.

Anything remitted to Thailand is taxed as assessable income. It is not on the capital gains, it is a pension, therefore the pension amount you transfer to Thailand is assessable income in Thailand. You get your Thai allowances and deductions and can also deduct up to THB100,000 off the pension before using the tax tables.

This is assessable income. Its likely with your allowances and deductions you will have a little of no tax to pay. We can help you file this with our ‘Essential tax filing’ which is THB7,500 per year.

For more information for Australians watch our webinar here. 

This depends on the type of pension that you have. If this is a government pension or civil service pension there are exclusions for tax under the double taxation agreement. If it is a Superannuation, annuity or age pension, then these are assessable income sources if remitted to Thailand if you are a Thai tax resident (180 days or more in Thailand in a calendar year)

You may find our webinar on the Thailand-Australia Double Tax Treaty useful; you can watch it here. 

It is only the UK government pension which is only taxable in the UK. If you remit the property rental income then this is assessable income in Thailand

The UK state pension is considered assessable income in Thailand if remitted. You can use any tax paid as a credit.

Tax liability is dependent on the source of the money that is remitted into Thailand. It does not matter what the purpose of a transfer of funds is, but, rather, the source of the funds originally. For example, if it’s from a pension, income or investments it is taxable, it is from saving or income earned before becoming a tax resident it is not.

If funds are savings from pre-2024 or inheritance, it does not need to be filed and you do not need to submit a tax return for those assets. You will need to keep clear records showing the moneys original source in case you are asked in the future.

Listen to a short podcast here to learn more about pre-2024 savings in relation to Thailand’s foreign-source income tax.

No. The purpose is not relevant, the question is what is the source of the money remitted into Thailand. If it is foreign sourced income then it is assessable income.

The LTR Wealthy pensioner VISA has a royal decree exemption from foreign sourced income. You still have to file, but it’s a different form you have to complete, which has just been added to the revenue’s website. The good news is that US government pensions and social security are not taxable in Thailand.

You can learn more about the tax benefits of Thailand’s Long-Term Resident (LTR) Visa here. 

There is no rule within the Income Tax law in Thailand on credit card use, unlike other countries such as Singapore and the UK. This creates a problem as it becomes open to interpretation. It is important to consider whether overseas credit card transactions are within the spirit of the tax law, and what they are being used for. If it is to circumvent tax, it will be looked through and trated as remitted income. Ultimately, it is up to the tax payer to follow the remittance tax rules in Thailand and keep good records.

Yes you do, it is a different form and depending on the visa you may haver no tax liability.

How funds are treated depends on the source of the money remitted. Not all money remitted into Thailand is treated as income. This depends on whether the money was in the bank before becoming a tax resident and also if it was from non-income tax sources like inheritance for example.

Income paid into the account from 1 January 2024 onwards will be classed as assessable income if remitted to Thailand.

This is dependent on which airline is used. If booked through a Thai airline and paid through a Thai office, then this is remittance of foreign-sourced income and is taxable.

If you were a Thai tax resident when the income was paid into the account, then if you remit this into Thailand at any time in the future, this is liable for income tax in the year it is remitted. This started from 1st January 2024 onwards.

Credit cards and debit cards are quite a grey area, as they are not specified in the Thai income tax law. Under audit, if it is seen that these are being used for day-to-day expenses and living, then credit card usage is likely to be classed as remittance. If you use your debit card, it depends on the source of the funds in the debit account. If it is classified as foreign-sourced income, then it is assessable income.

It depends on the source of the money that you remit and whether they are classed as foreign sourced income. Thailand tax residents are liable for 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.

You will have to file a tax return, but with your allowances and deductions, its likely you won’t have a tax obligation. We can file this for you with our essential tax filing. Here is more information.