Do foreigners need to pay tax in Thailand?

[JJ-Thailand]

 

Do foreigners need to pay tax in Thailand?
Read more in the only official document produced by Thai Revenue Department regarding the new tax definition regarding foreigners.
https://www.rd.go.th/fileadmin/user_upload/lorkhor/newspr/2024/FOREIGNERS_PAY_TAX2024.pdf

 

[Autocan]

Helpful, thanks. But I am curious. How does one determine the "earned from Jan. 1, 2024"? E.g., I sell shares in MFs, get a pension and SS benefits which accumulate in a US bank. Periodically, I transfer X amount from the US bank to Thailand via Wise. Exactly when was each dollar earned? I dunno.

[JJ-Thailand]

38 minutes ago, Autocan said:

How does one determine the "earned from Jan. 1, 2024"?

They mean that any assessable income earned from this date and sent over to Thailand should be declared in your Thai tax return.
Pension, dividends, capital gains, interest etc. You can claim tax credit if you have already paid tax at source, the double tax agreement between Thailand and your country will state which of the two countries has the right to tax each of your specific assessable income.

All tax agreements with Thailand can be downloaded here: https://www.rd.go.th/english/766.html

More, whatever was in your bank account on Dec. 31 2023 according to your bank statement can be sent over to Thailand anytime in the future without declaring it in your tax return. Make sure to save all proof in case they knock on your door in the future.