Expat Tax: Frequently Asked Questions
Thank you for visiting our Thailand Expat Tax FAQ page. We answer questions received from expats, anonymised for privacy, to help others navigate the new tax rules.
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Tax Advisory Disclaimer
The information on this website is for informational purposes only and is not professional tax advice. For full details, please consult our complete Tax Advisory Disclaimer.
Thailand joined the Common Reporting Standards (CRS) and Automatic Exchange of Information (AEOI) agreements. As of September 2023, the Thai Revenue Department can receive information from other CRS-affiliated revenue departments. If audited, you must prove that any money you transferred into Thailand is not taxable income.
If you are required to file a tax return, you must obtain a Tax Identification Number (TIN). Non-compliance can result in severe penalties, including a fixed fine, a penalty of up to 200% of the unpaid tax, and an additional 1.5% charge per month on the amount owed.
No, proceeds from selling an asset in a non-Thai tax year are not taxable in Thailand, provided the sale occurred while you were not a Thai tax resident.
The date of remittance (transfer to Thailand) is when the funds were sent to Bangkok Bank. As this was before January 2024 then this is the date you use, if you convert the currency afterwards then that does not affect or impact this.
If the money is in the bank from previous tax years, this can be remitted (transferred) to Thailand anytime In the future without a tax liability.
Please obtain a bank statement showing the account balances at 31st December 2023. This cash can then be potentially remitted to Thailand without any tax implications if it was pre-2024. Always put on the remittances ‘pre2024 savings.
Keep good records as you can be audited for up to 10 years.
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 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.