Foreign Experts’ Income Tax Cut to 17%

[snoop1130]

 

NGKOK, Feb 22 (TNA) – The cabinet cuts the personal income tax on foreign experts to 17% and ends duplicated taxation on their income from overseas sources to attract them to have long-term stays in the country, said Trisulee Trisaranakul, a deputy government spokeswoman.

 

The tax incentive approval went to a draft royal decree aimed at convincing foreigners with high capabilities and income (high-skilled professionals) to work in Thailand.

 

The personal income tax reduction supports the government’s policy to promote the industries that will boost national competitiveness including industries in the Eastern Economic Corridor.

 

Full Story: https://tna.mcot.net/english-news-888567

 

-- © Copyright TNA 2022-02-22

 

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[mahtin]

Only an incentive if the gross compares favourably with the west.

[Whale]

Aimed mainly at Chinese I assume. There is opportunity here for them esp with new industries (Chinese funded) in the EECorridor and there may be some wanting to stretch their legs at the moment. With the current political uncertainty in India it may attract their nationals as well, esp in FIN sector. Could be a lot of Hkongers looking for an easy alternative that is not too far from home as well.

 

[Andy723]

Isn't foreign income tax free already if you dont bring it into Thailand the year it is earned? Why would you sign up to pay 17%

[Misterwhisper]

Great!

 

I herewith am declaring myself a "highly skilled foreign expert", saving quite a few percentage points in personal income tax in the process. Wonder if that'll work when I file my PND.91 in about 2 months....

 

Then I finally will have the cash available to visit national parks and assorted tourist attractions again at the official ten-fold entry fee. Something which I have skipped for many years.

[Eaglekott]

11 hours ago, Andy723 said:

Isn't foreign income tax free already if you dont bring it into Thailand the year it is earned? Why would you sign up to pay 17%

Because most of us earn our money from a Corporate that pay out our salaries in Thailand.

[Whale]

The precis above (OP) missed this bit ......

 

"the draft decree [also] waives personal income tax for well-to-do foreign retirees and for the foreigners who generated income from their overseas work and want to import the income along with their arrival for their long stays. "

Edited February 23, 2022 by Whale