New Thailand Tax Policy for Foreigners: Personal Income Tax Law Changes 2024 for Expats

If you want to know more about new tax policy please contact us at t.me/kalinka_t.... We are available 24/7 to assist you.
In this video we will find our how the new progressive tax scale works, and discover smart alternatives.
The key change is that under the new policy starting in 2024, any money brought into Thailand will be taxed, regardless of when it was earned.
Watch this video to know more about this aspect. Be prepared
This remittance-based system means that if you transfer money from a foreign account to Thailand, it will be taxed. The personal income tax rates in Thailand range from 5% to 35%. If you're spending significant time in Thailand (over 180 days a year), this policy will apply to you.
Understanding the complexities of these new tax laws can be daunting. Consulting with tax experts who specialize in expat finances can provide tailored advice and strategies to minimize your tax burden.
If you need personalized advice on navigating these tax changes or exploring other tax-friendly countries, our brokers at Phuket real estate agency Kalinka Thailand are ready to help you find the best property and plan your financial future in Phuket.
If you are looking for investment property in Thailand, or villa with a pool in Phuket we will help you with the best offer in Thai market.
You can ask any question to our online broker at t.me/kalinka_t.... We are available 24/7 to assist you.

[@azenvilagom]

365k for 2mill is 18.25% How about people invest in thailand like buy condos? I heard somewhere investment is not taxable. The problem is nobody knows what's going on now. If foreigners need to pay this high amount of tax, they will leave the country. Pay tax in home country and now need to pay again?

[@Ride_on54]

What makes me laugh if you’re on a retirement Visa you cannot work but now your classed as a tax resident?? How does that even work it doesn’t even make sense you can’t work so why should you be paying them tax 🤷‍♂️ this new law is a joke

[@perrybakr4252]

@Ride_on54 as a Canadian, this is basically following US taxes. If you live in the US for 180 days as a retiree, you are expected to pay taxes in the US.

[@Ride_on54]

@@perrybakr4252 doesn’t make it right it’s a joke it means you’ll end up paying tax twice

[@trevor5526]

@Ride_on54 I live in Thailand all year round, yet the UK tax my joint pensions and freeze my state pension increases.

[@jbranche8024]

You need to spend time reading, watching, listening to Credible information. No one's going to do your homework for you. The Tax Agreement/Treaty will explain some obligations. Thailand Revenue Department has a lot of information in English and there are a bunch of Thai Law Firm Websites with info on the Taxes for Foreigners

[@gkprivate433]

To me it is insane to even consider having to deal with a foreign tax situation. But Thailand is desperate for money and will try anything. Will wait and see how things get worked out

[@les8518]

Touting for business. Nothing has gone into the Thai Royal Gazette. Until it does.

[@rickciardella]

No mention of the Dual Taxation Agreements that Thailand has with a number of countries? These agreements are crucial to what youre talking about. As of today, the Thai government has not finalized how, or even if, they will approach taxing expats and retirees.

[@perrybakr4252]

Yes they have. Basically, anyone living there 180 days or more, you put your money in a Thai bank, it is taxable. Some income is not taxable, but pensions are. And if there is a tax treaty, your home country gets their share first, then Thailand will want the difference. Saw a very good updated video by a Thai tax specialist this week.

[@les8518]

@@perrybakr4252 No they have not. The Tax Specialist is wrong. It has to go go through the Royal Thai Gazette first.

[@thomasjohnrobinson4658]

@@rickciardella yes but tax allowances in other countries maybe treated as taxable here.Ask a tax lawyer and all you will get is the blank inane smile which means you are paying someone who knows no more than you.

[@thomasjohnrobinson4658]

@@perrybakr4252 if that's true I am happy I left for 6 months(186 days) and not taxable.I have spent in Europe what i would have in Thailand AND will continue to do so if nessessary.

[@trevor5526]

@rickciardella I would like to know how they are going to administer this. Because I can't see foreigner's filing in tax returns. So, are they going to monitor our Thai bank accounts.

[@Krahang1267]

Tax: Anyone thinking of living or already living in Thailand should strongly reconsider their plans as you may be required to pay Thai tax from Jan 01, 2024 in addition to tax in your country of origin. Further, It’s very difficult if not impossible to plan on the speculation of WW Tax which, even if not implemented now, may be implemented at some time in the future & will affect many, some seriously. As to the so called tax experts it appears we are being provided with conflicting advice. Worse some are trying to get us involved with questionable financial products. As to obtaining a TIN good luck if you live outside BKK. I hear the going rate is 5,000 baht. Final gripe. It’s disgusting that the rich who can afford the long term visa will be taxed nothing but the average guy will be taxed until it’s painful. Also, taxing expats takes money away from the local Thai community & redirects it to the Thai government (to waste?).

[@darrendman2527]

Absolutely correct. Also this “new” elected government now wants to make marijuana illegal again when so many Thai people have set up pot shops. Democratic type parties that get elected always think raising taxes is the answer.

[@mfj2648]

great comments. For further add some more pain - the first Thai tax return would be due on 31-Mar-2025, and the country that I come from tax deadline is 15-Apr-2025. So, if I am to utilize the DTA (Double Tax Agreement) how can I do it when my home tax return may not yet be filed ? I guess the Thailand tax deadline would FORCE that my home country tax return needs to be filed earlier than required ?

[@darrendman2527]

@@mfj2648 I’m really curious about that double taxation. I’m traveling there in September and going to visit a lawyer’s office and ask many questions about living there and buying and renting out a condo in foreign name.

[@thomasjohnrobinson4658]

I have gone back to UK and enjoying it,when I return my total stay in Thailand will be 178 days including the day I left and returned.So for 2024 I am not taxable and are spending my money outside the country and until the rules are made clear I will continue to do the same.AND I will never sell my house in UK to stay in Thailand or bring over my savings.I live on pensions which I pay tax over the threshold and will leave before I give these leeches anything.They should be happy that we take nothing and pay for everything and have no rights to own our own land.Just take take take.

[@thomasjohnrobinson4658]

​@@darrendman2527I exchanged emails with a tax lawyer that writes in the Pattaya Mail and he conceded he did not know if state pensions in other countries that fall below the native tax threshold will be taxable,so dont anyone waste their time or money on a lawyer because the people making the law dont know.

[@stevemahoney6493]

This agrees with no one else vlogging on the subject.

[@thomasjohnrobinson4658]

@@stevemahoney6493 I had a tax consultant send me a tax form in English with all allowances highlighted and that's the amount.Under 60 or/and not married to a Thai I have no idea.

[@jbranche8024]

1:21 Partially true. Personal Income Deduction is 60,000 baht per person of Adult age, Additionally up to 25,000 baht of Health Insurance from a Thai Insurance is deductible. If your country has a Tax Treaty/Agreement with Thailand this will also factor into what your tax obligations will be. There are also additional deductions and exemptions for review from the Thai Revenue Department website

[@tyvid]

This is a horrific tax IMO. My private pension, that I contributed to with taxed income, is tax-free in Australia. I will eventually be subjected to 20-25% tax on my pension and other income sources. That is massive. So, spending money used to support Thailand economy, Thai partners, etc, will be taxed as well. That is a deal breaker for me as well as I am expecting will be for a lot of expats. Less people living in Thailand on retirement will be the outcome. Less properties being rented as well. Living out of Thailand for more than 6 months a year and bringing in money that way seems to be a loophole. But, who really wants to bring in large sums of money with near zero interest in Thai bank accounts. If expats are forced to pay this tax, what benefits are there for the expat? There's still triple tiered pricing in hospitals, foreigner prices versus Thai prices. We can't open a business like a Thai tax resident, we are severely restricted what we can and cannot do there. Less people will buy property, cars, etc as incoming remittance tax makes everything very expensive. Unless you can prove via I assume certified financial and tax documents via accounts (x2) that the remitted money was pretaxed and above the Thai tax rates, then this is a huge disincentive to buy these things in Thailand IMO. Already a loophole exists as well for rich expats who can afford an LTR visa as they are tax exempt. So rich people get exemptions from tax!! I have an investment property in my country where I receive rental income. Despite the tax rate on my rental income being 32.5% in Australia, I receive a lot of tax deductions - such as depreciation offsets, maintenance, agent management fees, lease fees, rates, insurance. So my overall tax rate is reduced significantly. Question is - would this therefore be considered by Thai Revenue Office as my rental income remitted to Thailand being taxed at a much lower rate? If so, there's more tax on taxed income. Dividends and franking credits as well. This has multiplied the complexity for many in living in Thailand. Stress for expats as well in trying to work what money transferred into their bank in their country was taxed, untaxed, deposited prior to the initiation date (1 Jan 2024) that is tax exempt. Some countries have better tax exemptions under their DTA with Thailand such as the US and social security being exempt, military and certain government pensions exempt. Unfair for everyone else. Throw in a fluctuating currency as well and it potentially will make it even more expensive to live in Thailand. Some will decide to keep under 6 months in Thailand and live elsewhere - but for most expats this is not the way to live and retire in comfort. So many issues now. I am unfortunately looking elsewhere to live. I love Thailand but this is too much. I feel sorry as well for the many poor Thai people, who benefit from expat spending and support, as they will lose out. Relationships will end. Really sad and an end of an era.

[@gkprivate433]

yes. Similar issues with all my incomes I earned, dividends I will be getting, etc, in the USA. Just bringing money into Thailand and subject to possible taxation is bad enough, but now even trying to look at or tax my home country income even it if isn't brought into Thailand is insane. Dual Tax treaty or not it should even be out there for discussion

[@Jahflamestudio]

Informative, thank you 🙏🏼

[@mfj2648]

Can you please comment on the next, more concerning, taxation move that the Thai government is considering = the move to tax our global income - income earned outside of Thailand - but not brought into Thailand via the remittance process.

[@user-yh4qo7lo4x]

อันนี้ต้องถามผู้เกี่ยวข้องต้นเหตุ❤😮และปลายเหตุนั้นรู้ดี

[@Colin180-pc4dv]

Plus of course, cost of tax accountant plus govt. fee for tax return submittal & processing. Will foreigner get anything by way of social return such as access to health care ?

[@arolavs]

Easy to do it without help, go and talk with your tax office now and you will see.

[@arolavs]

Paying tax gives no rights in any country, Soc.Sec. does, but thats not a tax, its a fee.

[@gkprivate433]

It makes no sense to even consider linking my USA incomes or money moved into Thailand as taxable or even to be assessed. I retire to keep things simple with my finances and have no desire nor intent nor need to start worrying about what a foreign country will want. I guess I will wait until next year and see how Thailand shakes this out. At the moment it seems for sure I will not stay anywhere near 180 days in a year

[@thomasjohnrobinson4658]

If you are over 60 and married to a Thai your total allowances are 400,000 bt

[@TerraMillsHydro]

I think Thailand has a tax agreement with the US. So they can not tax income that has already been taxed. I do not see how they will get around this agreement. This new tax law is going to be devastating to the condo market.

[@darrendman2527]

@@TerraMillsHydro I think so because I was ready to buy a condo with a tenant in September was talking with them but now they passed this taxation now everything is on hold until I talk to a Thai law office and ask many questions about it.

[@arolavs]

THEY can tax your income if the DTA say that Thailand is granted the TAX!

[@perrybakr4252]

@TerraMillsHydro another Thai tax advisor put it this way... Thailand has a tax treaty with Canada. In Canada, I pay 15% on federal taxes up to 55,000$C. Translate that into Baht and in Thailand you'd pay 25% on that amount. So the first 15% would be paid to Canada taxation and Thailand will want the remaining 10% based on Thai tax brackets.

[@carlosmaquino3454]

Said nothing about tax treaties that Thailand has with many foreign countries that prevent double-taxation

[@ultramoderniste]

Goodbye Thailand. Hello Taxland 😭

[@ThunderGator8154]

Is cash withdrawn from an ATM in Thailand but from an overseas account (i.e. USA, Britain, Australia, etc.) considered a remittance into Thailand?

[@stumpytkd1774]

Untraceable

[@testicool013]

No

[@captain7767]

@@stumpytkd1774. Incorrect. Soon as you brought in, it’s taxable not when you take it out. Banks will be reporting taxable acts to Treasury Dept

[@captain7767]

@@testicool013yes. It is. See above

[@mlgneo2855]

There is a lot of conflicting information. I would refer to the international reporting standards, which says yes. But many professionals are saying no. We’ll see in a year.

[@jbranche8024]

:46 FALSE "Thailand Revenue department order 162 2023 and Google Foreigners Pay Tax 2024 Pdf" Order was published in November 2023 in THAI language only. Any Assessable Income available prior to January 1st, 2024 can be remitted to Thailand paying No Tax, 0, Zero. Please understand that in Thailand the Burden to provide evidence about this Foreign Assessable Income is on the Taxpayer so keep Great Records

[@AllenZuka-xp1gd]

No thanks! Sounds like a rip offff

[@sebastianhorbushko8703]

Giving tax law presumptions is very illegal in Thailand without Thai government permission. Your channel has been mentioned by another law identity that has brought your vlog to light with Thai authorities. Are you aware that you are breaking the law?

[@mlgneo2855]

How does the Thailand “privilege” (not prestige as mentioned in the video) offset tax liability? Please respond.

[@KalinkaThailandGlobal-os6ie]

It doesn’t. Fact.

[@mlgneo2855]

@@KalinkaThailandGlobal-os6ieso why did you mention it in the video..?

[@mlgneo2855]

@@arolavsnever said it did. Thailand privilege is the name of a visa.

[@arolavs]

@@mlgneo2855 Sorry, deleted

[@maciek9419]

By "income brought into the country", does this mean the money you've spent here? For example say I earn £100,000 per year which is in my Dubai bank account, but I spent £40,000 of it here in a year, I only pay tax on the £40,000?

[@007EnglishAcademy]

yes

[@shivapantha5781]

Do we need to pay tax if our earning is coming from KZbin because it is already taxed 😢

[@Eric666-l7x]

Very good and precise video

[@user-un3qo6fs4n]

I'm Thai. I just found out that they will increase taxes on foreigners this much.

[@KalinkaThailandGlobal-os6ie]

Yes, it’s true. Impressive increase

[@Pola-ui7fq]

Because of the disgust and blueness of every country..this kind of attitude is disgusting. and not friendly...

[@vivabikerleo7546]

On other media reports, it is said that any amount is taxable after 180 living here, including the minimum 150,000. Is there an official thai website for confirmation to your report?🙏

[@KalinkaThailandGlobal-os6ie]

This company is the most trusted source of new laws information in Thailand IMHO www.siam-legal.com/thailand-law/thailand-new-tax-on-foreign-income-an-overview/

[@liamodriscoll429]

You haven't mentioned tax allowances in Thailand plus Double tax arrangements, so you're talking a bit of BS.

[@MuRihnYo]

หากมันไม่ดี เมื่อวันที่สิ้นหวัง เราจะพบกับคนดีที่ว่านั่นเอง ..

[@trevor5526]

The UK and i think the US have a dual tax agreement with Thailand so no need to panic.

[@thomasjohnrobinson4658]

@@trevor5526 don't know about the USA but the UK has a tax threshold of £12400 which is not taxable so are Thailand going to treat it as untaxed when you bring money in ?

[@trevor5526]

@thomasjohnrobinson4658 Thailand has tax thresholds also, which are higher if you have a Thai wife and/or are over 60. At the moment, there's conflicting information about what the thresholds are.

[@thomasjohnrobinson4658]

I exchanged emails with a tax lawyer that wrote an article in the Pattaya Mail which seemed to try to alay fears of pensioners getting their pensions taxed but he did concede that he had no idea how the Thai tax system would act against money brought in that was under a foreigners tax threshold.

[@thomasjohnrobinson4658]

@@trevor5526 Thailand's tax allowances are not higher they are about 75% and that is if you tick the boxes of married to a Thai and over 65.

[@trevor5526]

Very conflicting, and I have no idea how they would even begin to administer this.

[@Tarcnk]

Very helpful

[@blessinggardenpetpet6136]

Even for retirement visa? Oh no…

[@KalinkaThailandGlobal-os6ie]

Yes, there are no exemptions

[@reinhardmartin9093]

For people over 65 there IS atxfree sum of 190000.

[@WWade-cm8hx]

Thanks but no thanks.

[@mongolshonny6633]

Lucky I have Euro's

[@stumpytkd1774]

No its a proposal not law this whole video is bollocks clickbait

[@testicool013]

It was brought in on the 1st of January

[@ultramoderniste]

It has begun in 2024 and official announced in Royal Gazette 🙏

[@trentbateman]

Yes, and this proposal is for Thais earning abroad who are not paying tax anywhere on that income

[@testicool013]

@@trentbateman it’s for anyone who resides in Thailand for more than 180 days a year.

[@arolavs]

If not Thailand has income from taxes, we would not have roads, water in the kitchen ++, so if you do not like to pay tax, just move back home! Tell your home country to change the DTA, so you will have an advantage of paying your taxes in Thailand, some of us have already that and we save a lot of money every year! The DTA is the main TaxLaw, its above the Tax law in your home country and above the Thai Tax Law! The DTA gives Thailand the right to collect all info they need! It also gives you the right to stop taxation in your home country during the year if the taxes SHALL be paid in Thailand. Only a few %% of farang will understand this rights! The DTA is your key to understand double taxation! If you have paid too much tax in your home country, they will pay you back later after received documents, R.O 21 and 22, from Thailand, but it can take time to have the final Tax certificate and the money back.

[@reinhardmartin9093]

Rubbish!I don't know any Thai WHO pays a single Baht incometax.Till Last year I Didn't even know that IT exists!So there will BE many Thais especially old Ladies who get widdow pensions from abroad and d Didn't know anything about taxes will BE jailed in the future?

[@arolavs]

@@reinhardmartin9093 Its time to learn ;)

[@reinhardmartin9093]

In my homecountry I donpa, any Tax in my Pension,because it's to small.Do you really think that people that earn 2000000 Thb would let the Thaigovernment steal theire Money?They will leave and Thailand won'get anything.Thais wuld loose There Work Only 260000 Thb tax!For that Money they can live easyly in Cambodia,or Malaysia for 6 months and Return to Thailand for the Rest of the year and don'even have to apply for a Visa ,cause of the new regulations.So they don't even need to keep the 800000 Thb in a Thaibankacount and will withdrawal the .oney These taxes will cost Thailand billions of Thb!

[@arolavs]

@@reinhardmartin9093 They will never ask for your opinion ;)