Report Foreign Earnings Taxed Under New Thai Rules - But With Exceptions

[Tom100]

"The new policy encourages Thai nationals to repatriate foreign income for domestic investment. "

 

Invest where?  The slow growth economy with unstable politics is hardly attractive.

[NoDisplayName]

12 minutes ago, Presnock said:

He is the finance minister and that was also mentioned by the PM at that time who probably passed that on to the finance minister but a change in the tax situation is considered necessary to conform to OECD standards as Thailand wants to become a full member.

 

Exactly!

 

It's not policy, it's not law.

Just a dude bloviating.

[Presnock]

28 minutes ago, NoDisplayName said:

 

Exactly!

 

It's not policy, it's not law.

Just a dude bloviating.

yeah, just keep your head buried in the sand on this issue.  I have repeately said that WE here on this forum will not have any real idea of what and when anything will be published in a Royal Decree.  They are reportedly looking at a 20 billion baht shortfall in 4 months and are searching for some quick way to make up that amount.  But the speed at which they seem to move on any issue since there are always the detractors in the cabinet that will vote against anything that another party may bring up, hampers quick responses like to this issue.  But in order for any real change to be made it has to be done before the end of the year or it will need to be moved until the end of the following year.  

[EVENKEEL]

1 hour ago, StayinThailand2much said:

 

In my case: "If a person has neither a domicile nor his habitual residence in ..., but at the same time generates income in ..., he is subject to limited income tax liability. This means that in this case there is no taxation of world income but only of income earned in ...", meaning no. 😊 

So you're a tax evader. Probably one of the few?  

[Magictoad]

On 5/19/2025 at 6:23 PM, daveAustin said:

I won’t be taxed, I am an alien 👽

Not in the least bit amusing even the 9th time. I can only presume you don't live here.

[Presnock]

19 minutes ago, EVENKEEL said:

So you're a tax evader. Probably one of the few?  

and all that trouble for the OECD and 136 countries looking for ways to get all to pay their fair share or at least a share to country.

[beano2274]

Reading the Article it states that Thais bringing foreign income into Thailand will be taxed, but they would already been taxed in their country of Residence  or have I read it wrong?

[topt]

19 minutes ago, EVENKEEL said:

So you're a tax evader. Probably one of the few?  

No it is not evasion. It may be avoidance which is legal.

I pay tax on some UK income but I also have offshore income on which, prior to Thailand's change last year, was completely untaxed.

[topt]

1 minute ago, Presnock said:

and all that trouble for the OECD and 136 countries looking for ways to get all to pay their fair share or at least a share to country.

You have already been called out in another thread about your fixation on supposed OECD insistence on global taxation.

Not sure why you keep banging on about it - even after you said you would stay quiet.........

[Presnock]

7 minutes ago, topt said:

You have already been called out in another thread about your fixation on supposed OECD insistence on global taxation.

Not sure why you keep banging on about it - even after you said you would stay quiet.........

this has nothing to do with global taxation, only taxing someone in at least one country.

[topt]

3 minutes ago, Presnock said:

this has nothing to do with global taxation, only taxing someone in at least one country.

I was more referring to your "discussion" with @NoDisplayName but good to see you multitasking your OECD comments.........

[wensiensheng]

1 hour ago, Presnock said:

I do believe that was clearly shown by the comments on this forum.  Then a poll was taken of the expats and 58% indicated that they would not do anything about tax and would be remitting a lot less than normal, plus some ceased to be tax residents by spending less time here and more in other countries.  Now they admit the shortcoming of remittances so are "drafting" a lowering of the requirement to pay hoping for immediate remittances that folks have been keeping outside the country.  Only thing is they need to speed up the process to any change for folks to prepare IMHO

 Don’t think a bunch of expats have moved the needle much, ultra wealthy Thais are who have caused a rethink. 
 

wouldn’t put it past a number of them making it known that unless and until more favorable tax treatment is available, they ain’t bringing a cent back into Thailand.

[wensiensheng]

18 minutes ago, topt said:

No it is not evasion. It may be avoidance which is legal.

I pay tax on some UK income but I also have offshore income on which, prior to Thailand's change last year, was completely untaxed.

 

18 minutes ago, topt said:

No it is not evasion. It may be avoidance which is legal.

I pay tax on some UK income but I also have offshore income on which, prior to Thailand's change last year, was completely untaxed.

And if you keep it outside Thailand, under current rules, it will remain untaxed. Legally so and nothing to do with tax evasion as you point out.

[Presnock]

Just now, topt said:

I was more referring to your "discussion" with @NoDisplayName but good to see you multitasking your OECD comments.........

On this forum, we can express our opinions, my opinions on the Thai finance and Revenue Dept goals, are to fill up the coffers with some kind of tax monies.  In this country only  limited number of workers actually file and the OECD developed countries  average is around 34% while here is is in the low teen's.  Tax residents include the expats here for more than 180 days and  IMHO very few of them are in the group that is paying any income tax on foreign income.  I don't as I have exemption through the DTA and also a Royal Decree.  But from comments here I wonder if some folks feel guilty since they don't pay taxes.  I do however have paid taxes for the past 65 years, every year I worked.  If I didn't have the exemptions, I would probably return to the US or pay local taxes and get tax credits for the US taxes.  But, I have been following this OECD move by Thailand for a couple of years and wonder if they will ever be able to make all the necessary changes here to be eligible.

[Presnock]

7 minutes ago, wensiensheng said:

 Don’t think a bunch of expats have moved the needle much, ultra wealthy Thais are who have caused a rethink. 
 

wouldn’t put it past a number of them making it known that unless and until more favorable tax treatment is available, they ain’t bringing a cent back into Thailand.

That may be true but I also think that a lot of expats held off on buying cars or condos recently to so the amount IMO isn't too small.

[proton]

No taxation without representation, or at least some return

[Cabradelmar]

The Bangkok Post article outlines a possible shift in policy that, if enacted, would allow Thai citizens to avoid tax on foreign income if it’s remitted within the year it is earned or the following year. This would effectively reverse the significant changes introduced in 2023, which came into effect on 1 January 2024.

 

However, the article only refers to Thai nationals. There is no mention of expats, and no official announcement or clarification has yet been made by the Thai Revenue Department.

 

As things stand, the 2024 rules remain in place.

[Jingthing]

2 minutes ago, Cabradelmar said:

The Bangkok Post article outlines a possible shift in policy that, if enacted, would allow Thai citizens to avoid tax on foreign income if it’s remitted within the year it is earned or the following year. This would effectively reverse the significant changes introduced in 2023, which came into effect on 1 January 2024.

 

However, the article only refers to Thai nationals. There is no mention of expats, and no official announcement or clarification has yet been made by the Thai Revenue Department.

 

As things stand, the 2024 rules remain in place.

Not in effect yet and may never be, but IF it does come into effect it would shocking if it didn't apply to Thai tax residents as well (expats).

[wensiensheng]

24 minutes ago, proton said:

No taxation without representation, or at least some return

We all pay tax. Buy a beer? It’s taxed. Buy a car? It’s taxed. The list of items subject to VAT is endless.

 

But, at least consumption tax is directly linked to what you use/buy

[chuang]

If I remit one million baht to my account or to my partner's account will the fund be taxed...

[Yumthai]

41 minutes ago, Presnock said:

But from comments here I wonder if some folks feel guilty since they don't pay taxes.

Seriously? The Elite and other wealthy people do not pay tax (or almost nothing compared to their income/net worth) anywhere in the world, do you think they feel guilty? Wake up.

[The Cyclist]

17 minutes ago, Jingthing said:

Not in effect yet and may never be, but IF it does come into effect it would shocking if it didn't apply to Thai tax residents as well (expats).

 

Quote

Thailand is currently preparing a draft amendment for the taxation of worldwide income under the residence rule. According to this principle, an individual’s income is taxable in their country of residence, regardless of where it is earned, as long as the person resides there for a defined period.

 

Quote

This proposed amendment to Section 41 of Thailand’s Revenue Code would mandate that individuals who live in Thailand for 180 days or more would be required to pay tax on their overseas income, even if that income is not transferred into Thailand.

The amendment would focus specifically on personal income tax, 

 

https://www.rsm.global/thailand/news/proposed-taxation-worldwide-income-thailand

 

People ( mainly Thais ) have been given a tax free window to repatriate their money to Thailand, before Global Taxation takes off.

 

The Thai Government ( and most other Governments ) need additional revenues, I would be very surprised if Global Taxation is not implemented in time for 2027 tax year.

[JohnnyBD]

11 minutes ago, The Cyclist said:

 

 

 

https://www.rsm.global/thailand/news/proposed-taxation-worldwide-income-thailand

 

People ( mainly Thais ) have been given a tax free window to repatriate their money to Thailand, before Global Taxation takes off.

 

The Thai Government ( and most other Governments ) need additional revenues, I would be very surprised if Global Taxation is not implemented in time for 2027 tax year.

That RSM website writeup was sourced from the Bangkok Post article on Sep 6, 2024. That was a long time ago. A lot has changed since that old writeup. 

[topt]

2 minutes ago, JohnnyBD said:

That RSM website writeup was sourced from the Bangkok Post article on Sep 6, 2024. That was a long time ago. A lot has changed since that old writeup. 

Beat me to it and yes the specific article was discussed extensively at the time.......

[StayinThailand2much]

2 hours ago, EVENKEEL said:

So you're a tax evader. Probably one of the few?  

 

Did you read my (and the original) post?? I am NOT resident in my home country. All my money (income, etc.) was already taxed there before (at source). If I made any money outside of my home country today, my home country would NOT levy a tax, as I do not live there... So, please spare your accusations for your drinking buddies.

[ukrules]

2 hours ago, Presnock said:

But the speed at which they seem to move on any issue since there are always the detractors in the cabinet that will vote against anything that another party may bring up, hampers quick responses like to this issue.

 

 

A simple majority vote is required in the cabinet to approve a royal decree for official approval by the Monarch

This is a secret process which will never be reported on or discussed because the existence of a potential royal decree approved by cabinet but somehow not making it into the gazette would signify something

[redwood1]

1 hour ago, The Cyclist said:

 

 

 

https://www.rsm.global/thailand/news/proposed-taxation-worldwide-income-thailand

 

People ( mainly Thais ) have been given a tax free window to repatriate their money to Thailand, before Global Taxation takes off.

 

The Thai Government ( and most other Governments ) need additional revenues, I would be very surprised if Global Taxation is not implemented in time for 2027 tax year.

 

We have really missed you posting almost every single day for months on end about how all expats are required to file....Non stop....

 

I guess Global Taxation and the OECD can be the new thing....

 

Unfortunately Trump told the OECD to kiss off and get lost....So that massive blow, will very likely fatal for Global Taxation....At least for as long as Trump is in office...

 

[The Cyclist]

21 minutes ago, redwood1 said:

Unfortunately Trump told the OECD to kiss off and get lost....So that massive blow, will very likely fatal for Global Taxation....At least for as long as Trump is in office...

 

Trump is the President of Thailand ? Who knew ?
 

Trump is the head of the OECD ? Who knew ?
 

There is something really ironic about Americans being upset about Thailand possibly implementing global taxation.

[The Cyclist]

1 hour ago, JohnnyBD said:

That RSM website writeup was sourced from the Bangkok Post article on Sep 6, 2024. That was a long time ago. A lot has changed since that old writeup. 

 

It hasn't you know.

 

Don't be shocked or surprised if Thailand implements global taxation for tax year 2027.

[CallumWK]

On 5/24/2025 at 10:56 AM, ronnie50 said:

When I request or write to my own country's government departments they NEVER reply...

Probably went over your head that the officer was talking about exchange of info between tax revenue departments