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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It is very important that commingled funds and accounts are separated. Reporting and filing for tax becomes much simpler as it is easy to identify what is taxable and what is not. Remember it is up to the tax payer to prove there is no tax due on assets remitted.
If the assets are classed as assessable income and you are claiming the tax credits, you still have to file a tax return.
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If you transfer in the overseas income, this is assessable income. You can use the tax credits for tax paid already on this potentially and you will have to file a tax return. Our Assisted Tax Filing Service is the most suitable for you.
No, as long as you can prove the money originated from income earned in Thailand and was not treated as taxable income after being sent overseas. Only the gains or interest earned on the money while overseas would be taxable.
I’m afraid it is only cash in the bank in your personal bank account
If you are benefitting from the money transferred in then this is still remittance. If you are not benefitting then this is a gift.
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.Â
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
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.
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.
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 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.
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.
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.Â
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.
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.Â
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.
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.