Report Thailand Eyes Tax Holiday to Draw Back 2 Trillion Baht in Overseas Funds

[TallGuyJohninBKK]

On 6/4/2025 at 5:05 PM, snoop1130 said:

Notably, this tax break is applicable only to income earned after the policy is enacted; previously earned income is ineligible for benefits under this provision.

 

That's a pretty big exclusion!!!  😞

 

Especially given their stated goal of getting people abroad to remit large sums back to Thailand for reinvestment.... Those large sumes -- foreign assets accumulated prior to this supposed policy -- aren't going to be eligible for the tax break.

 

 

BTW, this report above is pretty different from one of the last major reports on this topic posted here, which if I recall correctly, didn't envision a single two-year tax amnesty period like above, but rather, an ongoing, rolling period where funds could be remitted tax free as long as earned in the current or following one year thereafter.

 

Really, I wish they'd just friggin make up their minds!!!

 

[ronnie50]

One constant remains in my mind despite all the gobbledeegoop from this bureaucrat.

 

That is, I still don't understand how the Revenue Department would know when the overseas money was 'earned' (this year or before) - and do pension funds and passive income count toward the tax free remittance? Some months ago, another member was referring to the 'first in, first out' principle - meaning money you have in a savings account back home for many years (for example) was savings from earnings already taxed from employment, pension, interest payments, etc. So the remittance of such shouldn't be taxed at all in Thailand. Again how do you prove it? The basic Thai income tax return form is just a simple document with no way to go into details in any case.

[NoDisplayName]

On 6/4/2025 at 6:30 PM, ukrules said:

From what I've read it mentions nothing about a limited time one off temporary measure - it sounds like it's going to be a rolling thing going forward.

 

Nothing in the official statements say anything about a limited timeframe.  This is often added by the journalist with a "for example" added as explanation.

 

Also unclear is whether the newly announced "tax holiday" for income prior to Jan 01 2024 will be rescinded.

 

"Hub of making tax planning nigh on unpossible"

[Luuk Chaai]

in perspective ,,,,

 

[DrPhibes]

The problem with this is what would you invest the money in here in Thailand?  The Thai stock market is a joke, the economy is faltering, real estate prices are not increasing significantly, interest rates are low, where would you get any real rate of return?

[whiteman]

10 minutes ago, DrPhibes said:

The problem with this is what would you invest the money in here in Thailand?  The Thai stock market is a joke, the economy is faltering, real estate prices are not increasing significantly, interest rates are low, where would you get any real rate of return?

GOLD

[DrPhibes]

12 minutes ago, whiteman said:

GOLD

You can buy gold anywhere in the world with less instability in the tax law than here.

[Thailand J]

16 hours ago, TallGuyJohninBKK said:

BTW, this report above is pretty different from one of the last major reports on this topic posted here, which if I recall correctly, didn't envision a single two-year tax amnesty period like above, but rather, an ongoing, rolling period where funds could be remitted tax free as long as earned in the current or following one year thereafter.

 

16 hours ago, anrcaccount said:

It seems the latest regulation allowing exemption for income earned before 2024 will be wiped

 

The more  thai tax news i read, the more I am confused.

[SunnyinBangrak]

We left Thailand due to this tax rule after a happy 25+ yrs. Now paying limited income tax in a country we get BENEFITS from our tax such as free schooling, healthcare, medecines and more honest policing and judiciaries.

We are not coming back no matter how many u-turns these clowns make.