General Tax Queries

The notable amendment in Order No. P.162/2023 is the clarification added to the first item of Order No. P.161/2023, which stipulates that the new taxation rule does not affect income earned before 2024. This specific exemption provides a transitional period for taxpayers, allowing them to adapt to the new system without the worry of retrospective taxation. Money that is in the bank from 2023 or before can be transferred in the future without any tax liability.

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

In Thailand, the 2024 tax exemption threshold is ฿150,000 for both residents and non-residents. Tax rates range from 5% to 35% for income above this level. A standard personal allowance of THB60,000 also applies. Thai tax residency is generally determined by physical presence, with those staying in Thailand for 180 days or more in a tax year typically qualifying as residents.

You can find out more about Thailand’s tax rates, allowances and deductions here or if you prefer to listen to a short podcast here

In Thailand, if you earn money by renting out property, you have to pay income tax on that rental income. This tax is progressive, meaning it can range from 0% to 35%, based on your total yearly income, including what you make from renting out property. For renting out non-residential properties, you might also need to pay a business tax called the House and Land Tax, which is 12.5% of the property’s annual rent or its assessed value, whichever is more. Property owners must report their rental earnings each year and pay the necessary taxes to the Thai Revenue Department. Keeping precise records of rental income and related costs is crucial to comply with Thai tax regulations.

If you remain in Thailand for 180 days or more in a calendar year, retired expats are classes as Thai tax residents. Depending on the source of income for anything remitted to Thailand, they could be liable for taxes in Thailand.

You can find out more about tax residency rules in Thailand by listening to a short podcast here. 

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

Funds are potentially taxable when they are remitted into Thailand depending on the source of the money and your tax residency status. It does not matter what currency it is held in in Thailand.

In Thailand, if you reside in the country for 180 days or more in a year, you are considered a tax resident. This means you have to pay tax on income you earn both inside and outside Thailand. However, income earned outside Thailand is taxed only if remitted to Thailand. If you do not reside in Thailand for 180 days or more, you only pay tax on the income you earn in Thailand.n

In Thailand, foreigners are subject to taxation based on their residency status and the source of their income. Expatriates who reside in Thailand for a period of 180 days or more within a calendar year are considered tax residents and are obligated to pay tax on overseas income they bring into Thailand. Conversely, expatriates who stay in Thailand for 179 days or less within a calendar year are only required to pay tax on the income that is sourced within Thailand. The applicable income tax rates are progressive, ranging from 0% to 35%, depending on the amount of taxable income. It is imperative for expatriates to ensure compliance with Thai tax laws to avoid legal complications and penalties.

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

U.S. expatriates in Thailand might have to pay taxes in Thailand. This depends on their income sources, residency status, and how long they stay. Thailand taxes people based on their residency and where their income comes from. Expats who stay in Thailand for 180 days or more in a year are considered tax residents and must pay taxes on their foreign sourced income remitted to Thailand. Those who don’t meet this residency requirement only pay taxes on the income they make in Thailand. The US/Thai DTA sets out how certain assets are taxed for residents in Thailand and certain exclusions, like US social security.

If you are a Thai tax resident (180 days or more) And transfer in or spend on an ATM any funds from overseas that are classed as foreign sourced income, then this is potentially taxable. It doesn’t matter what the money is used for. I recommend you watch our videos on this subject or podcasts which explain what is classed as taxable transfers

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.

DTV visa holders are subject to the same tax rules as other tax residents if they remain in Thailand for more than 180 days in any year. You are taxed on any Thai-sourced income and any overseas income that you bring into Thailand. After applicable allowances and deductions, you are progressively taxed at rates ranging from 0% to 35%.

The table below shows the Thailand’s progrssove tax bands.

You can find all the relevant information on rates, allowances and deductions here.