Savings is not taxed. For this tax year, no tax is required if the money was earned before 2024.

On the date of transfer, three determinations will be made:

- Has the buyer resided in Thailand for over 180 days in the current tax year?
- Were the funds accumulated before 2024?
- Are funds from a personal loan secured by foreign assets?

The Revenue Department will only consider the type of funds brought into Thailand. For tax purposes, how these funds are used for purchases is not relevant.

However, if the funds are profits from real estate sales, rental income, gains from selling shares, or other income earned from 2024 onward and are brought into Thailand while the person resides in the country for more than 180 days, then they are considered a Thai tax resident and required to pay tax.

If you are a tax resident of another country, you can use the Double Tax Agreement, which may provide a credit and eliminate any tax obligations in Thailand.

Thailand Privilege membership does not automatically make you a Thai tax resident.

The Revenue Department classifies a tax resident as anyone (Thai or foreigner) in Thailand for 180+ days in a calendar year, regardless of the visa type.

If you stay in Thailand for more than 180 days, you are considered a Thai tax resident; however, your name and personal details are not automatically included in the Revenue Department’s system.

You must visit your local Revenue Department and apply for a Thai Tax ID Number (TIN). Once you have a Thai TIN, you must file personal income tax documents every year you are a Thai tax resident. If you are a tax resident of another country, you can use the Double Tax Agreement, which may provide a credit and eliminate any tax obligations in Thailand.

No tax documents are required by Thailand Privilege and Immigration to extend an Elite/Thailand Privilege visa.

Want help to receive a Thai TIN? We can get this for you.
Service fee: 9,500 THB
Processing all online. Please contact us to get started.

You must provide copies of bank statements to prove that your funds were earned before 2024. If the funds are savings accumulated before 2024, you can also demonstrate that the money was saved before you began residing in Thailand.

Capital gains on crypto is taxable if:

- If you stay in Thailand for over 180 days in a calendar year.
- If you have profits from buying, selling, or using cryptocurrency that same year
- You bring profits into Thailand in any year.

If there is a Double Taxation Agreement, you can claim a tax credit for taxes withheld in the source country.

Many people prefer to use Over The Counter (OTC) crypto exchanges for ease, privacy, and elimination of KYC requirements. Please contact us for details.

Our team of accountants, lawyers, and international tax strategists can assist in protecting your financial assets. 

Book A Wealth and Tax Consultation to learn more

Previously, foreign-earned income was only taxed if funds were brought into Thailand the same year it was earned. In October 2023, the Thai Revenue Department announced closing this loophole in 2024. 

Starting January 1, 2024, Thai tax residents will be taxed on foreign-earned income if funds are brought into Thailand, regardless of the year earned. This income must be declared in the tax return for the year the money is brought in.

More recently, there have been talks of taxing worldwide income, including income held outside of Thailand. Currently, this is only a proposal and is not in effect.

The Thai Revenue Department is only concerned about money transferred into Thailand.

Taxable:

- If the dividends are received starting January 1, 2024, and you reside in Thailand for more than 180 days, you must pay tax in the year the dividends are transferred to Thailand, regardless of when the transfer occurs.

- The same applies to worldwide income. If you receive income from January 1, 2024, and reside in Thailand for more than 180 days, you must pay tax in the year the worldwide income is transferred to Thailand, regardless of when the transfer occurs.

Not Taxable:

- If the dividends were received before January 1, 2024, even if you reside in Thailand for more than 180 days, you are exempt from tax, regardless of when the dividends are transferred to Thailand.

- The same applies to worldwide income. If the income was received before January 1, 2024, and you reside in Thailand for more than 180 days, you are exempt from tax, regardless of when the worldwide income is transferred to Thailand.

Filing Requirements:

- File a mid-year tax return (PND 94) by September 30th and an end-of-year tax return (PND 90) from January 1st to March 31st.

- Exception: If the income is from employment, salary, or services, file an end-of-year tax return (PND 91) from January 1st to March 31st.

You must visit your local Revenue Department and apply for a Thai Tax ID Number (TIN). Depending on the Revenue Department, they may require a work permit, work contract, and/or long-term lease agreement.

Or, we can get this for you. All that's needed is a copy of your passport and current visa. The process takes 5-7 business days and is entirely online. Total cost is 9,500 THB. Please contact us to discuss further.

If you stay in Thailand for a total of 180 days or more in a calendar year, you are considered a Thai tax resident; however, your name and personal details are not automatically included in the Revenue Department’s system.

You must visit your local Revenue Department and apply for a Thai Tax ID Number (TIN). Once you have a Thai TIN, you must file personal income tax documents every year you are a Thai tax resident.

Starting in 2024, if you transfer income into Thailand from work earned in 2024 or later, you are subject to tax under Revenue Department Order No. Por. 161/2566.

However, if the funds transferred into Thailand are savings or accumulated funds from before the 2024 tax year (i.e., from 2023, 2022...), and the money is brought into Thailand in 2024, 2025, 2026, or any future year, these funds are exempt from tax.

Nevertheless, the imported funds must still be declared in the tax filing for the year the funds are brought into Thailand, according to the latest interpretation of Revenue Department Order No. Por. 162/2566.

Example #1:

Mr. A stayed in Thailand from January to December 2024, totaling 366 days. 

Mr. A is considered a resident of Thailand for the 2024 tax year. If he brings foreign income earned in 2024 into Thailand in any year, he must pay taxes for that year.

Example #2:

Mr. B stayed in Thailand from January to December 2024, totaling 179 days. 

Mr. B is not considered a resident of Thailand for the 2024 tax year, even if he brings money into Thailand.

Example #3:

Ms. N stayed in Thailand for 250 consecutive days, with the first 100 days in 2024 and the remaining 150 days in 2025. In this case, 

Ms. N is not considered a resident of Thailand for either the 2024 or 2025 tax years because she did not stay in Thailand for 180 days in either tax year. Therefore, she does not meet both conditions set by the Revenue Department and does not need to file a tax return for those years, regardless of whether she brings foreign income into Thailand in any year.

Gifts under 20 million baht per tax year from parents, descendants, or spouses are not taxable.

Gifts under 10 million baht per tax year from others who are not parents, descendants, or spouses are not taxable.

The Revenue Department monitors all transactions, including who transfers money to whom.

Example #1:

A husband who resides in Thailand for more than 180 days during that tax year transfers money to his Thai wife's bank account to purchase a villa.

Responsibility 1:
The foreign husband must file a tax return (PND 90 or PND 91) indicating the type of income the transferred money represents and whether it is taxable, regardless of whether it was transferred into the husband's account.

Responsibility 2:
The wife must file a tax return under Section 40(8), declaring the income from this gift. If it does not exceed 20 million Baht, it is not taxable.

CAUTION: If the husband does not file PND 90 or PND 91, the wife may be assessed for tax on the entire amount received from abroad.

Example #2:

A husband who resides in Thailand for less than 180 days during that tax year transfers money to his Thai wife's bank account to purchase a villa.

Responsibility 1:
He is not required to file a tax return in Thailand. However, proving the transfer of funds into the wife's account from abroad carries the risk of an audit, which would require an explanation to the Revenue Department.

Responsibility 2:
The wife must file a tax return under Section 40(8), declaring the income from this gift. If it does not exceed 20 million Baht, it is not taxable.

The tax rate is 5% on the value of assets received that exceed 20 million Baht or 10 million Baht, or it can be included in other assessable income for calculation. It must be filed using tax form PND 90 by March 31 of the following year.

If you do not reside in Thailand for more than 180 days in a tax year, you are still eligible for a VAT refund. Please note that the goods must be taken outside of Thailand within 60 days from the date of buying. 

From January 1st, 2024, if you stay in Thailand for more than 180 days in that tax year and bring income into Thailand, the Thai Revenue Department classifies you as a Thai tax resident, requiring you to pay tax in Thailand, regardless of which year the income is brought in.

For foreign income, the company that pays the money abroad must withhold tax for payment.

The withheld tax should be declared in the income tax return in the country where the money was received as a taxpayer or Non-Resident (proof of tax paid is required).

If you are a tax resident of another country, you can use the Double Tax Agreement, which may provide a credit and eliminate any tax obligations in Thailand.

A tax haven is a country with nominal or non-existent tax laws to benefit non-domiciled investors.  

Thailand is not considered a tax haven. However, proper planning and structuring can reduce one's effective tax rate. Our accountants, lawyers, and international tax strategists have expertise in Thai tax law and offshore mitigation strategies. 

Book a Wealth and Tax Consultation for more information.

Bitkub is a very popular Thailand exchange. As of this writing, Binance Thailand was not accepting US Citizens.

Many people prefer to use OTC (Over-the-Counter) to exchange crypto for THB. OTC is preferred for ease, privacy, and elimination of KYC requirements. Please contact us for details.

If you'd like to legally reduce tax obligations on crypto, you may consider opening an offshore company.

Book A Wealth and Tax Consultation to learn more.

Retirement pension is typically already taxed in its home country.

When submitting your Thai tax return, the Thai Revenue Dept. will request your Pension Certificate. By filing the proper document, you will not need to pay tax on retirement pension. 

No, it will not be subject to tax because it is assessable income earned before January 1, 2024.

The Privilege Visa is a type of tourist visa and does not impact the ability to work from Thailand. However, many people work online from Thailand on the Privilege Visa. 

The most essential requirement for those working remotely is to ensure compliance with tax obligations on income brought into the country while being a tax resident. The Thai Revenue Department focused on money transferred into Thailand.