TominHK

Well done to @Mike Lister for putting this together. Prior to this document I was completing my own research to try and establish the tax position of an overseas investment account which invests exclusively in Mutual Funds. Originally I thought that the dividend income and capital growth of these mutual funds would be assessable, however I then found the revenue tax code section 42 of exemptions, which clearly states: Section 42 The assessable income of the following categories shall be exempt for the purpose of income tax calculation: (23) Income from sale of investment units in a mutual fund. (24) Income of a mutual fund. Under the assessable income section it states that mutual funds would be assessable if: "Dividend, share of profits or any other gain derived from a company or juristic partnership, a mutual fund or a financial institution established under a specific law in Thailand for the purpose of providing a loan in order to promote agriculture, commerce or industry;" Therefore I believe that overseas investment accounts holding Mutual Funds, not individual stocks or bonds etc, would not exempt. Does anyone have reason/confirmation to believe otherwise?