A tax webinar, hosted by Carl Turner co-founder of Expat Tax Thailand, has stressed that rumors about tax exemption for foreign income transfers have not been published in the Royal Gazette. Thus they have not come into force. Earlier this year, it had been suggested by sources in the finance ministry that such cash transfers might be exempt from personal income tax if sent in the calendar year of earning, or the next calendar year.
Although it is possible that the incoming administration of premier Anutin Charnvirakul could make a public statement, the current rules still apply at this time. That means that most kinds of foreign income transmitted here since 1 January 2024 have been potentially taxable in this country, according to the webinar. For the current tax year, January – December 2025, tax forms should be submitted in the period January to March 2026.
The webinar highlighted some transmitted foreign income which is not assessable for Thai income tax. In particular this includes any savings in foreign banks earned before 1 January 2024 as well as the exemptions specified in the various dual taxation treaties. Thus British civil service pensions – including teachers, National Health Service, police and armed services – can only be taxed in the first country. One visa, the 10-year Longterm Residence, excuses holders from any tax on overseas transfers.
The webinar also mentioned that cryptocurrency gains were now exempt from Thai taxes, but only in domestic exchanges and not foreign assets. However, the webinar stated that all non-assessable income, including that from dual taxation treaties, needed to be included in an annual tax return and specified as exempt. It is estimated that fewer than half the number of expats have so far registered with the Thai Revenue Department.
Foreigners who are resident in Thailand for fewer than 180 days in a year are not required to submit a tax return for overseas transmitted income, though they are still potentially taxable for any income (for example from renting out their condominiums here) actually earned in Thailand. Nor is it necessary for expats living here for more than 180 days in a calendar year to submit a tax form if they have not transferred any income from abroad since 31 December 2023.
It remains to be seen if there is further clarification from government sources about the taxability of transferred foreign income. The whole issue has been very heavily debated in social media for two years, but has grown quiet in recent months because of the rumors from the finance ministry. Of course, the guidelines and rules apply to resident Thai citizens as well as those foreigners here for 180 days plus.
